When you’re struggling to grow your sales in eCommerce, what should come first?
The product or the customer?
In this episode, you’ll about the two ways to organize your company for growth – centered on the product or centered on the customer – and their advantages and disadvantages.
- (00:00) – Intro
- (00:29) – People are turned off by bad experiences
- (00:47) – Focusing your resources on things that matter
- (01:06) – The Product-centric Growth System
- (01:32) – The Customer-centric Growth System
- (02:14) – The advantages of using the Customer-centric Growth System
The way your eCommerce can make more sales every day is easy:
- Acquire more customers.
- Make customers buy more.
- Keep more of your customers coming to buy from you.
People are turned off by bad experiences.
If you don’t improve customer experience, retention will go down. Customers will not promote your business and you will continue to lose money acquiring new customers that will not come back to you and buy again.
You want to focus your limited resources on the things that matter for your business. Even if you’re not aware, there are two growth systems for e-commerce companies and you definitely use one of them:
- The product-centric system
- The customer-centric system
The product-centric growth system
The product-centric system means that everyone in the company is focused to bring orders.
Orders are at the core of the success of your eCommerce when monitoring KPIs. When thinking budgets and when investing in marketing, the order is being seen as the brick that builds the company. And on the long term, that is the dangerous mentality.
The customer-centric growth system
The customer-centric system puts the customer at the center of any activity.
The website, the buying, the fulfillment and marketing decisions are being made according to the customer voice and customer experience KPIs. With this system, you know who your ideal customer is and why they buy from you.
You care about how satisfied your customers are and what to fix in order to prevent failure. You understand the real growth factors in your eCommerce, how to budget and how to forecast growth by looking at customer retention patterns.
By using the customer-centric system, your eCommerce can generate more sales every day. You acquire customers, you understand what they want., you delight them, you make them promote you, and that’s how you make more sales every day with your e-commerce.
Stay tuned for our next eCommerce Growth Tips video next week where we learn more about habit-forming in eCommerce!