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Magdalena Wielgus
26.09.2019 | 2 mins read

Why revenue isn’t the most important thing in your eCommerce business? 3 tips on creating long-term success in your eCommerce

At Sylius, we probably know like no-one else, that running an online shop can be extremely hard. We talk to eCommerce owners on a daily basis and we know their stories inside-out. Competition on this market is huge and keeping up with the trends can be pretty exhausting. To make things a little bit easier, I composed a list of 3 things that will lead you to long-term success in eCommerce.

1) NEW is as good as OLD

Let’s be honest, the chase after new customers is sometimes really overwhelming. But is it really worth it? Of course, the ongoing development of the business is crucial, but sometimes taking care of your old clients can be more beneficial. Loyalty works wonders and if you don’t believe it, it’s time to make a pivot. Invest in an amazing Customer Service, send interesting Newsletters, have special discounts for the “next orders”, create a great loyalty program. 

That’s, of course, just the tip of an iceberg, but the key is – just try to find a balance between gaining new customers and maintaining the old ones. It will pay you off. 

2) Revenue is not the most important thing

Let’s start with the basics. Revenue is the value of the sales you make before any costs are deducted, and depending on that money alone doesn’t make much sense. If the costs of running your business are too high, your revenue can easily melt away. 

The most important is your profit and that’s the thing you should work on. It doesn’t matter if you want to invest your money back in your company or just put it in your pocket, the profit should be your determinant. We don’t have to look very far, just take a glimpse of a well-known example of that kind of mistake

3) Branding for years

This one is more on the PR side of running an eCommerce business, but that matter should be really taken care of. Building a long-term strategy for your eCommerce business is always connected with creating a brand and that’s a lot of fun. Choosing the right colors, creating your very own brand book and implementing a unique Social Media visual strategy are crucial, but even more important is to create an authentic communication plan for your business. 

That’s a lot of fun, but really essential in this process is to… be authentic. Just think about things you want to communicate from the bottom of your heart. Be yourself, be brave, challenge yourself but also take notice that this all must be honest. Why? First of all, because that will be easy for you and secondly, ‘cause your clients will always sense the falsehood. Simple as that. 

Conclusion

Creating a long-term strategy for any business can be a true challenge, but being in an eCommerce industry can be driving with no handlebars sometimes. So what’s the recipe for your success? Just taking care of your clients and… your peace of mind :). Good luck! 

 

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Magdalena Wielgus
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Just a regular '90s kid with a head full of new ideas. Enthusiast in general. Online marketing and Social Media freak with nothing but love for storytelling. Fangirl of authenticity in business communication. Still waiting for her letter from Hogwarts.

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