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3 top eCommerce market research tips

3 top eCommerce market research tips

Running an online store can be one of the most challenging vocations of the modern world. Like a roller coaster, eCommerce can be the best industry to be in (when sales and conversions are flying high), and the worst (when Web traffic dries up along with sales).

With organic search traffic from Google proving to be more and more volatile and harder to come by, it’s important for eCommerce site owners to ensure that they are doing everything possible to secure a sustainable and profitable stream of income. But what does that mean in practice?

The only way to guarantee a lasting supply of interested and engaged customers is to understand everything you can about your niche market – including who’s who in the zoo, what strategies competitors are using to drive sales, and what customers are thinking and feeling about your products, sales and service.

It’s a lot to keep on top off, but with a little practice you’ll quickly begin enjoying the benefits of knowing and understanding more about who can help you sell more, how to implement better marketing and promotions, and where and why customers behave the way they do.

1. Work hard to identify new influencers

Do you know everyone that works in your niche industry? You should. Reporters, bloggers and journalists are some of the people you should be rubbing shoulders with every chance you get. But not just any old writer. You need influencers who your customers listen to. Spreading the word about your brand, products and business is virtually impossible without help from established industry influencers. Trying to market and promote an eCommerce store is arguably one of the most difficult aspects of online business because everyone is sick of being bombarded with ads about sales and discounts.

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That’s why it’s so important to have someone else talk about your store. Someone who has a decent social media following, or a decent email list, or simply access to publishing platforms where the type of customers you want hang out. But above all, someone who is trusted by their readers.

But who are these influencers? An influencer can be anyone. What qualifies them as someone you want to build a relationship with is who they influence.

This means that in order to identify the right influencers for your store, you must first research:

  • Who your target audience is
  • Where they congregate online
  • Who do they follow

Sounds easy, right?

Identifying influencers is actually the easy part of the equation because all the information you need is available online. Google is a most useful tool to use when searching for influencers because search results tend to be a great starting point for finding influencers using targeted keywords (depending on what topics your particular target audience might be searching for) – i.e. if a blogger writing about the “latest shoe styles” is on page one of the search results, they might be a potentially valuable influencer for you to reach out to (assuming you sell shoes).

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The next step is much harder because in order to leverage the influence of the people you are targeting, you must first build a relationship with them and gain their trust. Influencer marketing is not a paid relationship like celebrity endorsements, which means it requires time, patience and effort to succeed… not cash. Once you have identified your preferred influencers, check out influencer marketing 101 to learn more about how to approach them and build sustainable, profitable, and mutually beneficial relationships.

2. Monitor competitors’ sales & marketing

While influencer marketing focuses on reaching out and pulling in new customers, monitoring your competitors is more about learning what marketing and promotional strategies they are using to drive sales.

Imagine you could monitor the sales of competing products, and receive alerts whenever they experience an out-of-the-ordinary spike in sales. Knowing that a product is experiencing a spike in sales – in real-time – would then allow you to quickly work out what it is that lead to the sharp increase. For example, a product review on a prominent tech blog, or an article in a magazine, or a press release in the news.

Armed with the knowledge of what exposure leads to an increase in sales, you can learn useful things like which writer/blogger was responsible for the article, and which site(s) have plenty of buying customers. This makes it much quicker and easier to focus your efforts on people and sites that are known to work in your niche.

But how is it possible to monitor the sales of competitors when they keep that information private? Well, it’s not possible to see how well someone is selling from their own personal site, but it is possible to spy on how well products sold on some of the big marketplaces, like Amazon, are selling. Using a sales tracking service like RankTracer Enterprise means that you can monitor the sales of any product sold on Amazon and spy on how well, when, and why those items are selling over time.

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Once the system has alerted you to a spike in sales for a given product, they also offer tools to help close in on what marketing campaign was responsible for the increase and add it to your own marketing playbook.

3. Ask questions

The title of this section might sound slightly redundant, but there is more to asking questions than meets the eye. There are different ways to ask questions, and there are different people to ask those question of.

It’s often very useful to ask complex, market and industry related questions on Quora. Especially if they are questions requiring a bit of specialist knowledge you don’t have access to. Many, many industry experts from all over the place take the time to write in answers that often contain really valuable nuggets of info – often with links to corroborating evidence from respected research organizations.

So Quora can help with industry related market research questions, and possibly offer a bit of decent insight into your own customer base. But, the best people to ask about your customers are your customers themselves.

Use your newsletter and mailing list to ask questions about what people want, why they are (or aren’t) buying, what information they need to help them make buying decisions, and so on. Unfortunately, many customers are pretty apathetic about answering polls or questionnaires, so offer something juicy in return. Something like, “Answer these five questions and get 20% off your next purchase” might do the trick.

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What about your own eCommerce platform community forums? Many top eCommerce solution providers offer support forums for their customers to learn from the wisdom of the community. For example, Shopify has a huge range of discussions around anything from how to build a business, to getting feedback on your store design, to selling your site.

There will almost always be someone who has been in the same situation you are and has found a way to solve it already. And, the act of sharing and helping others is also a fantastic way to build your network and make potentially valuable new connections.

Hopefully these three tips will help you to learn more about your store, it’s niche industry, and the people who inhabit it. Ultimately, the more knowledge you have, the easier it is to make better decisions. Decisions that will ultimately lead to greater profits and financial success.

What other market research tips have you used with success? Share yours in the comments.

Featured photo credit: Thomas Hawk via flickr.com

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Last Updated on January 21, 2020

How to Increase Work Productivity: 9 Ground Rules

How to Increase Work Productivity: 9 Ground Rules

We all have those days when completing our assigned tasks seems beyond reach. With the temptation of social media, mobile games, and the internet in general—not to mention the constant bustle of people in the office—it’s easy to fall prey to disruptions and distractions at work.

So, what can we do about it? How to be productive at work?

While we don’t have a foolproof system that can completely eliminate disturbances and diversions, we do have 9 ground rules that can be applied to help give your productivity levels a boost.

Keep reading to find out our tips on work productivity.

What Does It Mean to Be Productive?

How to be productive at work?” is the age-old question plaguing employees and employers alike around the world. Regardless of where you work and what you do, everyone is always looking for new ways to be more efficient and effective.

But what does being productive actually entail?

Completing more tasks on your list or working longer hours doesn’t necessarily mean you’re being more productive. It just means you’re more busy, and productivity shouldn’t be confused with busyness.

Productivity means achieving effective results in as short amount of time as possible, leaving you with more time to enjoy freely.

It involves working smarter, not harder. It means refining processes, speeding up workflows, and reducing the chances of interruptions.

Productivity is best achieved when looking at your current way of working, identifying the bottlenecks, flaws, and hindrances, and then finding ways to improve.

9 Ground Rules on How to Be Productive at Work

1. Avoid Multitasking

Multitasking can give the impression that more tasks can be accomplished as you’re doing multiple things at once. However, the opposite is true.

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Research has shown that attempting to do several things at the same time takes a toll on productivity and that shifting between tasks can cost up to 40 percent of someone’s time.[1] That’s because your focus and concentration is constantly hindered due to having to switch between tasks.

If you have a lot of tasks on your plate, determine your priorities and allocate enough time for each task. That way you can work on what’s urgent first and have enough time to complete the rest of your tasks.

2. Turn off Notifications

According to a Gallup poll, more than 50 percent of US smartphone owners admit to checking their phones a few times an hour.[2]

Switching off your phone—or at least your notifications—during work hours is a good way to prevent you from checking your phone all the time.

The same applies to your computer. If you have the privilege of accessing social media on your work desktop, switch off the notifications on there.

Another good tip is to logout from your social media accounts. Therefore when you feel the urge to check it, you might be swayed because your page isn’t so easily accessible.

3. Manage Interruptions

There are certain disruptions in the office that are unavoidable such as your manager requesting a quick meeting or your colleague asking for assistance. In order to deal with this, your best approach is to know how to handle interruptions like a pro.

Be proactive and inform the people around you of your need to focus. Turn your status on as “busy/unavailable” on your work chat app.

If you’re on a deadline, let your colleagues know that you need to concentrate and would really appreciate not being interrupted for the moment, or even work from home if that’s a feasible option for you.

By anticipating and having a plan in place to manage them, this will minimize your chances of being affected by interruptions.

4. Eat the Frog

Mark Twain once famously said that:

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“if it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first.”

What this basically means is that you should get your biggest, most urgent task out of the way first.

We all have that big, important task that we don’t want to do but know we have to do because it holds the biggest consequence if we don’t complete it.

Eat the frog is a productivity technique that encourages you to do your most important, most undesirable task first. Completing this particular task before anything else will give you a huge sense of accomplishment. It will set the ball rolling for the rest of the day and motivate you to eagerly complete your other tasks.

5. Cut Down on Meetings

Meetings can use up a lot of time, which is time that can be used to do something useful.

You have to wait for everyone to arrive, then after the pleasantries are out of the way, you can finally get stuck into it. And sometimes, it may take a whole hour to iron out one single issue.

The alternative? Don’t arrange a meeting at all. You’ll be surprised at how many things can be resolved through an email or a quick phone call.

But that doesn’t mean you should eliminate meetings altogether. There are certain circumstances where face-to-face discussions and negotiations are still necessary. Just make sure you weigh up the options prior.

If it’s just information sharing, you’re probably better off sending an email; but if brainstorming or in-depth discussion is required, then an in-person meeting would be best.

6. Utilize Tools

Having the right tools to work with is crucial as you’re only really as good as the resources you have at your disposal. Not only will you be able to complete tasks as efficiently as possible, but they can streamline processes. Said processes are essential to a business as they manage tasks, keep employees connected, and hold important data.

If you’re the manager or business owner, ensure your team has the right tools in place.

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And if you’re an employee and think the tools you currently have to work with aren’t quite up to par, let your manager know. A good team leader understands the significance of having the right tools and how it can impact employee productivity.

Some examples of tools that could be used:

Communication
  • Slack for team chat and collaboration.
  • Samepage for video conference software.
  • Zendesk for customer service engagement.
Task Management
  • Zenkit for task and project collaboration.
  • Wunderlist for listing your to-do’s.
  • Wekan for an open source option.
Database Management
Time Tracking
  • Clockify for a free tracker.
  • TMetric for workspace integrations.
  • TimeCamp for attendance and productivity monitoring.

You can also take a look at these Top 10 Productivity Tools to Help You Achieve 10x More in Less Time.

7. Declutter and Organize

Having a disorganized and cluttered workspace can limit your ability to focus. According to researchers, physical clutter can negatively impact your ability to concentrate and take in information.[3] Which is why keeping your work environment well ordered and clutter-free is important.

Ensure you have your own system of organization so you know what to do when the paperwork starts to pile up.

Being organized will also ensure that you know where to find the appropriate stationery, tools, or documents when you need it. A US study reveals that the average worker can waste up to one week a year looking for misplaced items.[4]

Here’s a useful guide to help you declutter and organize: How to Declutter Your Life and Reduce Stress (The Ultimate Guide)

8. Take Breaks

Taking regular breaks is essential for maintaining productivity at work. Working in front of a computer can lead to a sedentary lifestyle which can place you at a higher risk of heart disease, diabetes, and obesity. Even a 30 second microbreak can increase your productivity levels up to 30 percent.

As well as your physical health, breaks are also crucial for your mental and emotional wellbeing. That’s because your brain is like a muscle, the more it works without a break, the easier it is for it to get worn out.

Ensuring you actually take your breaks can prevent you from suffering from decision fatigue. It can also help boost creativity.

Take a look at this article and learn why you should start scheduling time for breaks: The Importance of Scheduling Downtime

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9. Drink Water

Although we know we should, it’s easy to forget to drink enough water during the working day.

Many of us turn to tea or coffee for the caffeine hit to keep us going. However, like taking breaks, drinking water is essential for maintaining productivity levels at work. It’s simple and effective.

Not drinking enough water can lead to dehydration and also headaches, tiredness, and weight gain.

A good tip to avoid dehydration is to keep a water bottle at your desk as it can serve as a reminder to constantly drink water.

If you find the taste of water a little bland, add some fruit such as cucumber or lemon to give it a better taste.

You can also get more ideas on how to drink more water here: How to Drink More Water (and Why You Should)

The Bottom Line

The preceding 9 ground rules on work productivity aren’t the be-all, end-all. You and the company you work for may have other tips on how productivity is best increased and maintained.

After all, it’s something that can be perceived differently depending on the exact job and work environment.

In saying that, however, the 9 ground rules serve as a good foundation for anyone finding themselves succumbing to disruption and distraction, and are looking for ways to overcome them.

A good tip to keep in mind is that change doesn’t happen overnight. Start small and be consistent. If you slip up, just dust yourself off and try again.

Developing habits happens gradually, so as long as you keep up with it, you’ll soon start to notice the changes you’ve been making and eventually enjoy the fruits of your labor.

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Featured photo credit: Cathryn Lavery via unsplash.com

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