Scaling a business into the millions is no small feat, but with the right strategies and mindset in place it’s certainly possible.
Having founded three multi-million brands and coached hundreds of women to scale into seven- and eight-figure businesses, here’s what they have in common that have put them on the path toward success.
1. Constantly tweak, test and measure
You need to think of your website as more than that, it’s your virtual storefront. However, you don’t have the benefit of customers being able to touch, feel, smell and test your product. This means it’s crucial that your website is user-friendly, visually appealing and provides all the information your customers want to know, without it being overwhelming.
You should be auditing your website regularly to identify any areas for improvement. Don’t trust yourself to do this alone, seek feedback from your customers and team and install an app to track exactly where your customers are spending their time (and what’s making them click away!).
2. Develop a solid email marketing strategy
Email marketing is such a powerful tool for eCommerce businesses, but you would be amazed at the number of business owners who aren’t using it effectively. It can offer an exceptional ROI.
Most importantly, your database is owned by you, you aren’t subject to algorithm changes, or being deactivated without warning.
Keep your communication consistent, on-brand and engaging, and try to offer your customers value within your email marketing. You shouldn’t be constantly selling to them, but rather building a relationship.
3. Develop an omnichannel marketing approach
Something I tell all my clients is not to put all of their marketing eggs in one basket. This means not solely relying on Facebook ads, Google Ads, influencer strategies, SEO or social media. Rather, they each form a piece of your growth puzzle.
No one channel will work on its own. Or if it currently does, there’s no guarantee that that single channel will continue to work in the future. Identify which additional channels you can utilise to get more eyes on your brand, and add a few new ones to your marketing approach.
4. Seek support
Don’t be afraid to seek guidance from experienced mentors or business coaches who can provide insights to help you navigate the challenges of scaling.
Networks or associations in eCommerce can also be a great way to connect with fellow entrepreneurs who have gone through similar journeys and can help you when you get stuck.
5. Prioritise your customer
Exceptional customer service is what sets many successful businesses apart. What does this look like? It could include free and/or fast shipping, loyalty programs, exceptional unboxing experience, live chat, and hassle-free returns and exchanges.
This aspect of growing a business is frequently overlooked or devalued, but it’s one thing that’s guaranteed to help you grow and ensure that customers you acquire return again and again.
6. Work on the business, not in it
As your business grows, manual processes become less efficient. Look at automating (or handing off) processes that take a lot of time, but don’t yield much in terms of results. This could mean finding a bookkeeper, automating shipping processes, or batching social media content. This allows you to spend time on marketing and product strategy rather than being down in the trenches day after day.
It’s easy to get caught up in day-to-day operations but to scale into the millions, you need to work on the bigger picture – your role should shift towards strategic planning and long-term vision.
Scaling an eCommerce brand into the millions requires a combination of strategy, solid marketing strategies, continuous improvement, and a customer-centric approach. Embrace these steps, and be prepared to adapt and innovate as your business grows.
