Publisher's Synopsis
This essay sheds light on top business growth strategies for growing a profitable Shopify brand store in the digital era and elucidates the critical drop shipping mistakes that can ruin a Shopify brand store. There are a myriad of business growth strategies that Shopify brand owners can leverage to foster increased sales volume, profitability, brand growth, brand recognition, brand equity, and brand loyalty. The first business growth strategy to ascend your Shopify brand store to the next tier of profitability revolves around prioritizing being highly customer oriented in tandem with utilizing the tools necessary to increase customer conversions rate. Brands should not only be keen on building long term relationships with customers, but should also have generous return policy to entice sales, should encourage positive feedback on social media platforms, and should utilize chat bots to enhance customer communication and help alleviate customer concerns. "Machine learning allows these tools to get a better understanding of which questions are being asked most frequently. They can also parse customer data to personalize the support experience to the specific customer" (Lindberg, 2019). A second business growth strategy involves rendering the Shopify brand store more technologically robust, user friendly, and compelling to entice sales. For instance, online tools, such as Shopify AR, that integrate an augmented reality shopping experience into ecommerece stores will not only enhance the customer's shopping experience, but will also culminate in a higher sales volume for Shopify brand store owners. Augmented reality and virtual reality shopping experiences will likely eminently reshape and redefine the online shopping landscape. Additionally, Shopify brand stores can take advantage of voice search features, video content of products, and on-site personalization features for the prospect of eliciting higher customer conversion rates. Moreover, Shopify brand stores owners can also capitalize on utilizing product recommendation algorithms to recommend personalized product recommendations and personalized upsell recommendations. A third business growth strategy involves capitalizing on earning sales on micro marketplaces on social media websites which allows opportunities for customers to procure products outside the conventional ecommerce platform. " 'We have already seen this on Google and Instagram, who are listing products within search and social experiences. We will also see product cards appear in more high-value places, and they will be a lot smarter than the current approach, which does not provide any more utility than an ad or a gateway to a full commerce user flow' "(Lindberg, 2019). Micro marketplaces not only allow the brand to have greater market reach, but also help streamline the shopping experience, especially if customers can more easily find and even buy their favorite products through social media platforms. Furthermore, Shopify brand store owners can also win over more customers with more flexible payment options, can allow "web payments to drastically simplify online payment processes" (Lindberg, 2019), and can offer multi-currency options to accept payments from foreign customers. Additionally, the ecommerce stores can be multi-language stores to render them more accessible to foreign customers and Shopify brand store owners can also take advantage of multi-channel delivery options to provide faster delivery times, more flexible shipping options, and more affordable prices to customers. "72% of online buyers want to see the expected delivery dates of the orders they select and 46% of buyers abandoned a shopping cart because the shipping time was not provided or was too long" (Go, 2018). It is imperative to ensure that shipping times and order fulfillment times are reasonable and that orders are completed in an expeditious manner, especially so that the brand can earn more repeat customers.
