Ecommerce growth
Ecommerce growth is the process of increasing revenue, expanding your customer base, entering new markets, earning a bigger market share. There are two distinctive stages of growth:
- Entrepreneurial - You grow in sales, number of orders, popularity but you still operate on a small scale, probably sell in limited markets, don’t have many employees, etc.
- Corporate - The business goes next-level, expanding into new markets, adding more products and staff. All operations become more professional with dedicated teams. The scale of operation grows, and so do the reach, scorpe, budgets, revenues, etc.
Not all ecommerce businesses want to go from 1 to 2, although it is almost inevitable as operations need to grow in capacity to keep up with growing demand. It is possible to stay in stage 1 and have a viable business, especially with good customer retention to make a profit. Ecommerce brands choosing this path have their marketing and operations perfectly optimized to convert and retain as best as possible because that’s the only way to stay in business.
Companies going for stage 2, on the other hand, need huge capital to ramp up production and marketing. Ecommerce growth is always reliant on marketing investments.
