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Building an e-commerce presence is one of the most crucial aspects of becoming a thriving business. Standing out on the web is an arduous task, but experimenting with a variety of methods can help you decide which tactics work best for your business and help you emerge from the crowded marketplace.
Cooper Weiss and Gavin Danetz, the young entrepreneurs behind Magnet Mount, which sells unique car mounts and cell phone accessories, have been experimenting with innovative methods for converting buyers, driving high-quality traffic, and creating engaging content that has driven the success of their business.
Figuring out the right mold for growing their brand involved continual trial-and-error. “This year we tested thousands of ads, hundreds of videos, hired mentors, attended high-end masterminds, and saw many different angles when it comes to conversions, traffic, and branding,” says Dantez.
With an Instagram following of over 220,000 and over $3 million in revenue, their proven tips for boosting e-commerce brand awareness and scalable product growth can help take your business to the next level.
Analyze Consumer Behavior
One of the company’s primary focuses is on ‘conversion psychology’ — creating material that resonates with consumers while filtering out the noise of poor content, and in turn, driving interest in the brand.
Fab.com performed a case study and noticed that design-related decisions and the behavioral psychology of the consumers often run contrary to each other. As a result, increasing conversions required experimenting with the ‘add to cart’ button on the website to improve their ‘click-through rate’ (CTR) and subsequent buyer conversion.
By simply adding text to the button instead of symbols, they were able to increase their CTR by 49 percent. Meeting consumer expectations with simple design decisions are not always easy, and can be applied to the broader content distribution of your brand.
Adequately appealing to buyer habits and preferences require copious amounts of experimentation and customization based on your product.
“We optimize our content using behavioral response marketing, meaning we serve unique ads depending on where our prospects and customers are in the buying process. For example, a customer who has watched 50% of a Facebook video will see a different ad then someone who had just visited a product page or had added to cart,” says Dantez.
Furthermore, once you drive significant traffic to your website, you need to make the content as intuitive and straightforward as possible to turn speculative visitors into buyers and even loyal, long-term customers. Positive anticipation can help customers identify with your brand and message, giving them a positive perspective of your product.
“The majority of people who see ads or brand for the first time won’t buy. But when you become omnipresent on each platform they visit and spend time on you become an authoritative presence like all the other big brands in their life.” Says Dantez. “You don’t have to spend millions of dollars on TV commercials and billboards because you will only be retargeting and relevant to the people who have shown interest.”
Decisions such as product images, testimonials, and color choices all factor into the conversion rate. Increasing your conversion rates by just a few percentage points can drastically improve your revenue.
Tailor Content For Each Individual Platform
Businesses need to build their brand to attract a loyal customer base that can organically grow and drive more high-quality traffic down the road. Creating high-quality traffic means leveraging multi-platform advertising while implementing a platform-specific strategy.
“Content for each placement on every platform must be optimized. Facebook news feed, Instagram stories, google shopping ads and Pinterest all need to be individually tailored to match the user experience,” says Weiss. “We try to create ads that are native to each platform so they just blend in like normal posts, it’s like getting a handwritten letter in the mail rather than a stack of annoying flyers you just throw in the trash.”
Businesses should focus on following up with consumers through multiple mediums, including email, text, or messenger bots. Scaling on numerous platforms also enables you to adapt to different audiences and learn their interests, allowing for a more sustainable and definitive advertising model. Having a loyal base of customers to work with only serves to fuel the proliferation of website traffic.
Magnet Mount is well aware of the power of website traffic, as they accumulated more than 1 million website visits within their first eight months leading to $3 million in revenue in 2018. “We have formulated a methodology through all the data and testing we have done turning that into a repeatable system,” says Dantez.
Conversion rates and traffic are congruent with each other, and it’s important to focus on both.
Build A Brand Around Products That People Want
Product marketing is all about the product itself. If people don’t want it or are not passionate about it, then it’s just not going to market well. Weiss and Danetz envisioned potential when they realized people seek aesthetically pleasing and luxurious, yet affordable, products. The market for car mounts at the time consisted of poorly constructed and cumbersome designs. They saw a gap in the market where there were only car mounts built for functionality and did not account for the design of the product.
The market for car mounts also had enormous potential. The National Safety Council reported that cell phone use while driving leads to 1.6 million crashes per year — a staggering figure.
“We saw a vision on how big this company could be, and how big of a problem we were solving and we knew the only way we could do this was by catching people’s eyes with an aesthetically pleasing product,” says Weiss.
“In January 2018, we started by testing direct response ads, seeing if the products would sell, and the results were overwhelming. That’s when we started to build the brand. The first month we did $85,000 in sales, and that’s when we knew we were on to something.”
Understanding the niche and target audience for your product is invaluable. Finding winning products while also finding the flaws of your competitor’s old or outdated products is crucial to building a brand. Rapid product experimentation through surveys and real-time feedback can also help you to adapt your product to consistently evolving consumer preferences.
It’s clear that cultivating a unique and popular brand in a sea of e-commerce competition requires diligence and a multi-faceted approach.
March 8, 2019 at 02:18PM
Forbes – Entrepreneurs