Weekly Business Growth Reading List (July 20, 2020):
Welcome to our third edition of the Weekly Business Growth Reading List.
This Is a resource published every Monday aimed at sharing articles, videos, news and updates in the world of business growth.
Various different aspects of business growth such as marketing, advertising, product development, design, HR, legal, and finance shall be explored as key tools to grow businesses. Latest trends and best practices in these areas shall be addressed via the chosen resources for each week.
The focus for this week shall be on eCommerce and digital business growth:
Here are our top picks for this week:
By Alex McEachern from Shopify
You’ve heard it time and time again. It’s cheaper to get current customers to make a repeat purchase than it is to find new customers. It’s true for many businesses, especially in the crowded eCommerce arena where clicks and conversions always seem to be increasing in cost.
When was the last time you looked at your customer journey map for opportunities to re-engage customers to get them to come back? If you've yet to market to current customers after the sale, now is a good time to build a cohesive strategy for customer retention.
In this brilliant article from Alex McEachem, learn more about what customer retention is and what its benefits are for your eCommerce business.
By Lynn Jatania from WooCommerce
Entering the world of eCommerce can feel like a big step. One way to make it easier is to share audiences and costs with other like-minded businesses.
This setup — known as a multi-vendor marketplace — creates a shared storefront for multiple sellers on a single website. Each seller in the community can create, edit, and control their own products. Shoppers can add any combination of items to their carts and make all their purchases as part of one checkout.
It’s a great way for a small business to get a little extra help when starting out, or for existing stores to expand their markets.
A brilliant article from Lynn covering all the crucial points around multi-vendor marketplaces.
3. Shaumik Saha: “Your eCommerce Business Will Fail”
By Shaumik Saha on Medium
Amidst the Covid 19 quarantine I’ve seen a worrying number of misleading claims being made by opportunistic eCommerce service providers about how success with eCommerce is as easy as attending their webinar, purchasing their service, and setting up your eCommerce front online.
Please be wary of this. Such eCommerce companies are not in the business of making you money, they are in the business of selling web hosting and design services and are only making overly optimistic promises to close a client. You.
In this article Shaumik debunks such myths whilst sharing the harsh realities of running an eCommerce operation.
Shaumik Saha's business growth tips for this week
Some musings from our Director, Shaumik Saha, this week:
I hope you found this week's resources and tips useful and look forward to sharing more great content, the following week.