Boost Sales With These Low-Cost Shopify Marketing Strategies
August 8, 2023
If you’re a Shopify seller, you probably put a lot of effort into your marketing strategies. Unlike on Amazon, where sellers benefit from a large audience of ready customers searching for products, Shopify store owners need to bring traffic to their standalone store.
That means it might take a bit more effort to generate leads and build your own community of buyers. In order to ensure that your marketing costs don’t become too high, finding some low-cost Shopify marketing strategies is crucial. You’ll want to identify and implement cost-effective marketing strategies that not only reduce costs but also maximize visibility and sales.
In this post, we will guide you through four high-impact techniques that can make your Shopify store a big success without breaking your marketing budget. These include:
- How to effectively utilize social media for marketing
- Why you should focus more on customer retention
- The significance of developing a referral program
- How email marketing contributes to an outstanding return on investment (ROI)
Continue reading to learn how to increase traffic and generate more leads for your Shopify store without overspending on marketing.
Social media platforms such as Twitter (now known as X) can serve as rich sources of new customers for Shopify sellers. If you’re looking to increase your brand awareness and bring new purchasers into your brand’s orbit, building a social media presence is a great way to start.
Many thought leaders and influencers who have already cultivated a substantial audience are active on Twitter, Instagram, TikTok, and more. Your first step should be to start engaging with these thought leaders and influencers because, by doing so, you can tap into their existing audiences. Their ready-made audiences can help you build your own.
You can start growing your social media accounts in two simple steps:
- Repost and comment on posts from influencers and thought leaders. This allows you to capture the attention of their established followers, boosting your visibility in the process.
- As you gain more visibility, start building your own active community of followers. Engage consistently with your followers by sharing content that adds value to their experience. This could be anything from blog posts, industry updates, behind-the-scenes snapshots of your business, or even fun and interesting facts related to your brand. Also, remember to respond promptly to their queries and comments.
UGC, or user generated content, is another great way to increase brand awareness and loyalty on social media. Consumers trust UGC more than branded content, making them more likely to purchase from your brand.
You can start by asking customers to leave you a review on social media. Then, ask them to share photos or videos of themselves using and enjoying your product. In exchange, you can offer customers an incentive such as a free ebook or discount code.
With consistent engagement, social media can direct a significant amount of traffic to your store.
Many Shopify sellers dedicate a large amount of their marketing budget on bringing in new customers. The result of this is that they neglect their existing customer base.
Research indicates that customers making repeated purchases typically spend as much as 67% more throughout their relationship with a business, in comparison to those who only make a one-time purchase. What’s more, studies show that it can be six to seven times more expensive to acquire a new customer than to bring back an existing customer. Therefore, making customer retention a part of your marketing strategy is a great way to lower costs.
Here’s how you can maintain valuable relationships with your existing customers:
- Implement customer satisfaction surveys to gather feedback on your products and overall shopping experience. This interaction shows customers that you care about their opinions and are committed to improving their experience.
- Send out promotional emails and announcements about new product launches. These communications keep your brand at the forefront of customers’ minds and give them reasons to revisit your store.
- Utilize the wealth of customer data and contact information available through Shopify to personalize your interactions with customers. This information can help you tailor your messages and offers to individual customer preferences and enhance the effectiveness of your marketing efforts.
- Run retargeting ad campaigns through your Shopify store on social media and Google. These strategies focus on marketing your products to individuals who have already shown interest in your brand, either through a previous purchase or by visiting your website.
To maximize your Shopify store’s success, don’t neglect your existing customer base. Repeat customers are valuable, and customer retention is extremely cost-effective. Focus on fostering your existing relationships with customers and see how it can help you bring down your Shopify marketing costs.
Offering your customers referral codes they can share with their friends and family in exchange for discounts is a win-win situation.
Here’s why referral programs are so beneficial for an eCommerce seller looking for low-cost marketing strategies:
- Referred customers hold a higher value. Customers that come to your store through a referral are often more reliable and trustworthy. This is because they’re following the recommendation of someone they trust. In fact, statistics show that 82% of Generation Z trust product advice from friends and family. In addition, 46% of consumers generally consult with their family and friends before making purchases. Referred customers are, therefore, not only more likely to make a purchase, but they are also more likely to trust your brand from the outset.
- Referral programs are a cost-effective marketing strategy. Unlike many other marketing techniques that require significant investment, referral programs capitalize on your existing customer base and their networks. The data supports this: referral leads convert 30% more and contribute to an impressive 65% of new sales. This means that not only are referred leads more likely to make a purchase, but they also tend to contribute more significantly to your sales.
- Customers as brand ambassadors create cost-free, user-generated content. When your customers act as brand ambassadors by referring others, they are essentially creating free marketing content for you. Whether it’s a positive review, a social media shoutout, or simply telling their friends about your store, this user-generated content can significantly boost your brand’s exposure and conversion rates.
You can increase your reach and revenue in a cost-effective manner by incentivizing your customers to share their positive experiences.
ECommerce email marketing offers an impressive return on investment (ROI). How much exactly? A staggering $44 for every $1 spent.
Building your email list should be at the top of your marketing efforts. Here are some email marketing strategies you can use to raise the efficiency of your campaigns:
- Post-purchase communication: Sending check-in emails post-purchase is a great way to request customer feedback. It not only shows that you value their opinion but also opens up an opportunity to improve their future experiences.
- Thank you emails: Thank you emails can nurture customer loyalty and increase their engagement with your brand. Offering coupons and providing direct links to your online store in these emails also encourages repeat purchases.
- Order confirmation emails: Confirmation emails offer a great chance to suggest related products or accessories. It can generate additional upselling opportunities.
- Broadcast emails: Regularly send out broadcast emails to share updates, new product releases, monthly newsletters, time-sensitive promotions, seasonal deals, or content updates. This keeps your brand relevant and at the forefront of your customers’ minds.
- Time-sensitive deals: Offering time-sensitive deals creates a sense of urgency, encouraging customers to make a purchase before the deal ends.
- Personalized recommendations: Track your customers’ purchasing behavior to identify patterns. Leverage these insights to trigger personalized emails recommending complementary products. AI technology can help with this, too.
- Referrals: Encourage your existing customers to bring in new customers by offering them incentives for referrals.
- Shopping cart recovery: Keep an eye on your shopping cart abandonment rate. If customers are leaving items in their carts without making a purchase, send reminder emails with incentives encouraging them to complete their purchases. This can help recover potential lost sales.
Many of these email marketing tactics can be automated using an email marketing tool, making the process more efficient and effective.
All-in-all, the key to thriving as a Shopify store owner involves maintaining consistent engagement with customers, keeping them well-informed, and providing value beyond the initial purchase. Best of all, you don’t have to break the bank on marketing efforts.
As you start to implement these tips, you’ll see your Shopify store begin to grow. However, growth often comes with new hurdles such as managing increased inventory needs and fortifying your supply chain. As you scale your store you may need a more substantial budget to fund your marketing and supply chain costs. Fortunately, 8fig can provide the support you need.
At 8fig, we specialize in providing continuous eCommerce funding solutions to help Shopify stores elevate their businesses to seven or even eight figures. Our financing solutions are designed to optimize your cash flow, so you can satisfy escalating demand and maintain adequate stock levels.
Getting started is easy. Simply sign up on our website and take the first step toward success.
The 8fig Team is an experienced group of eCommerce writers and experts committed to helping online sellers grow their businesses through informative content and guides. Whether you're looking to increase sales or build your brand, we have the knowledge and expertise to help you succeed.