Need some incentive on why you need to have an ecommerce growth strategy if you want to start making money online? How about 6.15 Trillion of them.
eMarketer and Statista project that online retail sales will reach $6.15 trillion in 2023.
Let’s say that one more time…SIX POINT ONE FIVE TRILLION DOLLARS!
That same report also projects 22.3% of all retail sales will happen on ecommerce websites.
What we’re trying to say is, there is a massive opportunity in ecommerce and there has never been a better time to refine (or build) your ecommerce growth strategy.
If you have an existing store, or you’re thinking about starting one, it’s a great time and we’re here to help you invest in a successful e-commerce strategy.
Ecommerce Growth Strategy: How To Find Products That Will Actually Sell
It’s not a secret, the key to a successful ecommerce store is having a product, or products, that consumers are willing to pay for. So it only makes sense that the first step in building a successful ecommerce growth strategy is to figure out what consumers are shopping for and provide them with that product.
A great way to figure this out is through keyword research and analysis. Using a product like Semrush’s Keyword Magic Tool, Ahrefs Keyword Explorer, or getting started with a free tool like Google’s Keyword Planner is a super simple way to identify popular and trending.
Once you’ve identified what people are searching for, and how they are searching for it, it becomes much easier to find products you can market and sell to those consumers.
Keyword Analysis: What you should be looking for
- Search Volume – how many times a day, month, year is the term being searched?
- Search Consistency – is this something consumers search for year round, or only during specific times of the year (I.e holidays, pop culture events, etc)
- Search Trends – are there specific times a day or year that a product searches spike?
Once you understand consumers searching habits and keywords it becomes easier to build your ecommerce growth strategy and find products you are confident you can sell as a way to start earning passive income.
Recommended Ecommerce Growth Strategy Tools:
We mentioned Semrush earlier and their Keyword Magic Tool, but wanted to make note of them again as they have a whole host of tools and apps to help with keyword analysis and product selection.
eRank is a tool that is especially helpful for Etsy sellers providing trending items on Etsy, as well as top keywords, and competitor analysis. They offer a few different subscription tiers, including a free version great for anyone just starting out.
Product Research for Amazon is an Semrush application that provides data on in-demand ecommerce products, along with profitability analysis and ROI calculators.
Shopify Finder provides insights into 50+ million Shopify products and 100+ million AliExpress products to help sellers find the next big winning product for their Shopify or AliExpress stores.
Ecommerce Keywords Analytics enables you to find top-performing, converting keywords major retailers are using and evaluate product potential for your store.
With ecommerce and and online spending not looking to slow down in 2023, it’s a great time to launch that Shopify, Etsy or Amazon store, just make sure you have a solid growth strategy in place.
Utilizing the tools and insights laid out above will help you pinpoint consumer interests and search trends to solidify your ecommerce growth strategy, have the right products in your store, and drive sales (and revenue) in 2023.
If ecommerce isn’t your game, check out these other passive income and online business ideas to make money in 2023.
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