This week we’re doing things a bit differently with our E-commerce and startup strategy round-up. As usual, we have some kick-ass content for your reading pleasure, but we’re including a full user guide (which we haven’t done yet up to this point), along with a post that was written last week instead of this week [gasp!].
Both of these content resources were really solid, which is why they made the cut in this week’s round-up. Sometimes you have to bend the rules and switch things up in order to deliver more value. Trust me, your E-commerce store and startup strategy will be better for it! Enjoy this weeks content offerings, and check out Tribe Interactive’s blog for more E-commerce growth tips, startup marketing strategies, industry happenings, updates, and more. Thanks for reading!
By Andrew Wilkinson – Last week, Andrew Wilkinson posted a great article on Medium (which is my new favorite blogging platform, by the way. Definitely worth checking out) about how the current startup climate is starting to feel a lot like the dot-com bubble of the lat 90’s. Wilkinson lays out a bunch of telling stats that highlight the exceptional amount of risk the startup community is taking on right now. He argues that all of this is heading to some type of not-so-great ending for startups with giant valuations and zero proof of profit.
As Wilkinson explains, “The underlying financials create a situation that will likely lead to a correction. The mean is up and to the right — innovation is alive and well — but I’m concerned that these valuations are completely unsustainable and a lot of investors, founders, and hundreds of thousands of employees, are going to get clobbered in the coming years.” Definitely an entertaining and insightful read for folks involved in the startup realm.
By Darren DeMatas – This comprehensive guide was sent to us directly by Darren, who has put together a really nice collection of useful tips and resources for E-commerce retailers operating their stores on WordPress. In his 9 chapter guide, Darren walks you through WordPress E-commerce plugins and themes, marketing tactics, shipping and fulfillment, and even CRO. As Darren correctly points out, “Turning WordPress into a selling machine requires a lot of moving pieces. No question, you need a beautiful, user-friendly site that’s secure (Which Tribe can help you with). But you also need SEO, social media, email marketing and conversion rate optimization to succeed in the long term (Hey! We can help you with that too!).”
This is a guide you’ll definitely want to bookmark and reference as you build out your E-commerce site and strategy using WordPress.
By Janessa Lantz – This post was written back in February, but the E-commerce growth indicators that Janessa outlines are absolutely applicable today. Janessa’s data driven article put’s some hard numbers behind the following growth indicators that all E-commerce retailers should be monitoring:
- New Customer Acquisition
- Average Order Value
- Number of Monthly Orders
- Loyal Customer Base
- Monthly Revenue at Month 6
By David Sasson – This is the million dollar question, isn’t it? Every E-commerce store owner or startup entrepreneur is looking for the reasons behind why people buy, and how they can leverage that to increase their bottom line. Of course, the quick and easy answer is, “It depends.” Variables like industry, competition, target audience, etc. all play a role in determining what will actually motivate someone to buy.
In this post, David looks to establish some core reasons behind E-commerce sales that we can all use a baseline, regardless of industry, competition, etc. What he found was that, more often than not, an increase in sales could be linked back to one (or a combination) of four reasons:
- Inventory availability
- Website traffic
- Customer experience
Driving more E-commerce sales shouldn’t be chalked up to dumb luck. Read David’s article, and see what you can apply to your own E-commerce strategy.