Hey guys! Ezra here.
Want to copy what the biggest ecommerce brands in the world are doing to grow in 2024?
I recently went to an awesome event called Ecommerce Experience Evolution, where I met some amazing folks from companies like Amazon, Shopify, and lots of other well-known brands.
This is an event where professionals come together to talk shop and learn from the best minds in the industry. So I wanted to write this post to share 4 insider secrets I learned from the pros here at EEE.
#1 Focus on a Few Simple KPIs
Over the past 7-8 years, online businesses were continuously getting more and better data. But recently, we’ve started to see issues with attribution and tools having inconsistent information.
When data doesn’t match, what do you trust? GA4? Triple Whale? Something else? How do you deal with inconsistencies while remaining focused on what matters?
The answer to this uncertainty, according to Finnish foodpreneur Tero Isokauppila, is to get back to basics and focus on a few key KPIs:
- Revenue
- Number of customers
- Average order value
- Repeat purchase rate
Don’t get distracted or overwhelmed by extraneous data. You want to focus on profitability and growth, and to do that, you really just need a few key metrics to guide you.
#2 Focus on Community & Personalization
The market is so saturated these days that it’s hard to stand out. So what can you do to separate yourself from the sea of competitors?
Sadie Goodwin, Social Media Manager at Absolute Web, recommends building a strong community and focusing on personalization.
As saturated as the market is, there aren’t many brands out there doing a great job of making customers feel heard and valued. So if you can accomplish this, it’ll show that you understand your customers’ needs and help forge a connection with them that sets you apart from the competition.
#3 Send More Emails!
In his position at AtData, Jon Tejeda is responsible for sales. So it’s no surprise that his main piece of advice is to advocate for the one channel that drives more sales than any other: email.
People have been predicting the death of email for years now. First they thought social media would kill it, then they thought messaging apps would kill it. And guess what? Email is still here, it’s still king, and it still brings in ~40% of revenue!
Email isn’t going anywhere, guys, so invest in building your list and take advantage of it by sending more emails to generate sales.
#4 Don’t Rely on Fragmented Systems
I’m a huge Shopify fan (have been forever).
A while back, I bought a company that was built on BigCommerce. We switched it to Shopify and the next month, the checkout conversion rate increased from 43% to 56%!
So it’s safe to say that I was excited to chat with Brandon Sewell from Shopify.
When I asked Brandon what business owners should be focused on in 2024, he talked about “unified commerce.”
This is the practice of providing your customers with a fully integrated and personalized shopping experience across ALL channels — from your ecommerce site to mobile apps, social media, brick-and-mortar stores, and more.
The cool thing about unified commerce is that you can focus on the central area where your data lives, and then use that to extend data out to your other systems (like ecommerce, retail, wholesale, etc.).
By keeping everything together, you avoid relying on fragmented systems and get a better view of the big picture of what’s happening in your business.
Wrapping it All Up
These have been 4 quick-hit tips from some savvy industry pros.
If I could wrap it all up and put a nice little bow on top, I’d say we’ve got a few running themes here:
First, focus on the fundamentals. The simple stuff works, guys! And it’s not just small brands taking this approach — the basics are still important for the biggest brands in the world. They’re all focusing on simple and effective marketing, product development, and consumer engagement.
This applies to your data, too. Keep your data clean, focused, and actionable. More data is not necessarily better — especially when that data is fragmented or contradictory. So start with your key KPIs. Let those be your true north, and expand on that data only when you need to.
Lastly, taking the extra step to give your users a personalized experience is an effective way to stand out from the crowd. So when you get new people on your list, DON’T be afraid to email them. Email is still one of the most effective tools in your toolbelt — use it!
That’s it from me, guys. I hope you enjoyed this quick wrap-up of what the pros are doing at Ecommerce Experience Evolution.
