Aspiring entrepreneurs in the field of e-business or e-commerce often ask themselves a crucial question: “How much money can I earn with an online shop?”
The reason for this is simple: Of course, there is no tangible guarantee of making money. On the other hand, there is no limit to the sums you can earn in e-commerce. It doesn’t matter if you want to earn more than 10,000 euros every month or just try to earn some money on the side. As long as you run your ecommerce store effectively, you can achieve your self-imposed financial goals.
In this article, we want to show you how to quickly get your first
make purchases with your e-business. We’ll also introduce you to some free tools to help you manage your finances. In the end, hopefully, you’ll have gained plenty of inspiration to make money from your own e-business.
So let’s jump right in. Traffic is essential for a successful ecommerce store
An important success factor is that you can drive a large amount of traffic to your online shop. If your ecommerce business gets a lot of traffic, there are a lot of potential customers who visit your store and look at your products. If your store sells excellent products at an affordable price, then it’s only a matter of time before you generate both traffic and sales.
Unfortunately, there is no guarantee that you will be able to generate traffic for your online store in a short time. So you’ll probably need to use different marketing channels to attract visitors to your store. But before you make a decision about which marketing channels are best for your e-business, you should be aware of the amount of traffic that will be needed to achieve your financial goals. Understand how much traffic you need
The amount of traffic you want to generate depends on how much money you ultimately want to make.
With the Dropshipping Traffic Calculator you can easily find out how much traffic you need to generate. All you have to do is enter the amount of money you want to earn and the number of days you want to earn that amount. The tool then calculates the number of visitors you need to attract to your online store and the number of orders to generate.
Below is an example that gives you an overview of how the tool works:
Please note, however, that the calculations from this example are based on the following assumptions:The average conversion rate for an ecommerce business is 2%. This means that for every 100 visitors to your store, you can expect two people to place an order.The average order value for ecommerce stores is $45.We calculate with a margin of 100%. This means that you charge your customers twice the price for which you buy the products.The average cost of attracting a user is $0.35. This statistic is based on e-commerce companies that use Facebook ads in the US.
So now you know roughly how much traffic you need to generate to achieve your financial goals. The second step is to think about how you’re going to drive that traffic to your store. E-business: Generate traffic with the help of marketing strategies
The fastest way to generate traffic for your online store is through marketing campaigns. There are a variety of different marketing channels through which you can attract potential customers to your e-business. Each marketing channel has unique advantages and requires a different capital expenditure.
We’ve broken down the different marketing channels to help you make the right decision for your ecommerce business. PPC marketing (pay per click)
PPC marketing, or pay-per-click marketing, describes the use of budget to get a better chance of generating traffic. Surely you’ve already stumbled upon it: a Google search result has a green “ad” logo or a Facebook post with the addition “Sponsored” is displayed at the top. This is exactly what PPC marketing is in action. Successful e-commerce shops usually also work with campaigns in the field of PPC marketing.
It’s an excellent marketing strategy for generating traffic, increasing awareness of your brand, and ultimately increasing the number of sales. You’ll get results from your campaigns quickly and don’t have to pay until someone clicks on your ad.
There are three main platforms you can use for PPC marketing: Google, Bing, and Facebook. If you choose Google or Bing for your PPC marketing, you can research the number of people searching for your content. This, in turn, will help make advertising your ecommerce store more effective. The downside to using Google and Bing is that you don’t have accurate information (such as age, gender, or interests) about your target audience.
When you use Facebook for your PPC marketing, you can access information about your audience’s age, gender, and interests. However, you won’t know how popular your ads will be.
If you’re interested in PPC advertising, then you should check out this guide to Google by Neil Patel and his guide to Facebook marketing. Email Marketing
Emails can often be overlooked as an important marketing channel. This is a platform in which people are always logged in and which they constantly check. In addition, email marketing can achieve an ROI of up to $32 per $1, which is far higher than in the PPC space.
Developing a sophisticated email strategy can turn into a sales channel that keeps bringing new traffic to your website. A good example would be a campaign that includes free informational content, giveaways, discounts, sales codes, or referral codes and invites you to test new products before anyone else. Helm Boots uses a sales discount to encourage website visitors to sign up for the online shoe store’s email list.
Nurturing your subscribers is important to ensure that your audience increases traffic over time. This could mean sending an email exactly every two weeks. This way, your audience knows when to expect news from you and your business. You could also segment your audience by demographics, psychological characteristics, etc., and provide information tailored to their interests, beliefs, wants, or needs. Wondering how this will bring more visitors to your website? By providing personalized content to your audience, you can earn social proof. Ideally, your customers will share your products or services with their friends, relatives and acquaintances and recommend you.
Social media can be a great marketing channel to boost your e-business and generate traffic to your website – without having to spend money or create new content. By sharing blog articles, products and services, positive reviews, company news, and videos on social media in a non-promotional way, you can tap into a community of enthusiastic followers who share your content with others. And that, in turn, will directly contribute to your sales and the expansion of your business.