Ecommerce Articles Ecommerce Strategy

Advice for New Store Owners: Tips From 18 Experts

Hey there, fresh online store owners! Here at Prisync, we often partner up with brilliant experts working at successful companies who help store owners such as yourself grow fast and profitably. These seasoned professionals witness the rise and fall of countless e-commerce stores each year. They have immense data—so they’re the go to source for strategic advice, especially if you have difficulty prioritizing tactics and tips you want to try.

If you’re ready, here’s some advice for new store owners

Alexandra Badea | VP, EMEA Marketing at 2Checkout (now Verifone)

If I could give first-time eCommerce shop owners just one marketing tip, it would be to make selling internationally part of their go-to-market strategy.

First, why go global? In 2020, worldwide retail eCommerce sales amounted to $4.28 trillion US, and this figure is projected to grow to $5.4 trillion US in 2022. This steady growth makes global commerce less risky and thus a good option for new eCommerce players. Fast-growing markets in APAC or LATAM (which, inherently, have some of the greatest growth in eCommerce) represent some great opportunities for your new business to find customers and increase reach. Also, serving a wide and diverse range of audiences makes it easier to find/validate your product-market fit.

Once you’ve decided to go global, it’s important to segment your audience by each individual local market, so you can understand and cater to their specific characteristics and preferences. Localization is the key to successful international selling.

A successful localization strategy, however, usually needs to go way beyond mere translation. To fully engage with a local audience, you need to localize the entire experience. This includes everything from offering a selection of the country’s preferred payment methods and displaying taxes and billing in the preferred format to localizing shopper flows, shopper support, and date and time, as well as graphics.

No matter where you are in the world, scaling across your country’s borders is actually not that hard. The right eCommerce provider can help offload some of the challenging tasks like global payments or compliance, so you can focus on your products. This strategy will definitely get you on the road to success.

Click here to view original web page at prisync.com

Related posts