At Sendle, we're particularly good at listening. We talk to our customers constantly so that we know what small businesses are thinking. And every year we undertake a comprehensive survey for a deeper dive into ecommerce. And while listening is incredibly valuable, staying ahead of the game also means interpreting what we hear and sharing ideas so that everyone can benefit from the wisdom we uncover.
The majority of Australia’s leading ecommerce businesses that participated in the 2023 Sendle Small Business Survey reported that new customer acquisition is the greatest challenge in 2024. With that in mind, here are three strategies you can implement to help grow your business and keep customers coming back this year.
Marketing overseas to boost sales
A noticeable change between our 2023 survey and the previous year is the number of businesses that are anxious about customer acquisition. In 2022, 22% reported this as a concern while in 2023 this number has jumped to 66%.
Despite these concerns about acquiring new customers, small business is feeling confident and 84% of those surveyed are predicting sales growth in 2024. Savvy business owners understand that a weaker Australian dollar makes our products more competitive overseas, and they are looking to new markets to help achieve that growth.
Finding new customers, whether in Australia or overseas, requires careful marketing that targets potential buyers on their home turf. Andres Herrero, founder of Sydney Sock Project found that when he changed strategy and increased his Facebook and Instagram ad spend in New Zealand, sales picked up significantly
With 220 international destinations, Sendle’s international rates and fast delivery times can help you move into overseas markets at a competitive price.
Social media is part of the marketing mix and 61% of survey respondents are focused on growing their social media presence this year. While many ecommerce businesses have dabbled in social selling – tagging products in social posts, unveiling new ranges in stories and reels, or nurturing leads through chat. But in 2024 it’s time to take this up a notch and set up social stores for direct sales to customers. Social shopping is all about going to where the customers are instead of asking them to come to you. See our article about social shopping if you’re not sure where to start.
Increasing value to counter cost-of-living challenges
Recognising that cost-of-living increases have an impact on discretionary spending, 41% of our survey respondents are planning to change their pricing strategy in 2024.
Product pricing is not only about profit. A pricing strategy that ensures your business covers its costs is a starting point, but value-based pricing, which recognises that people will pay what they think a product is worth, is more likely to help attract and retain customers.
Businesses that can clearly articulate their value – be that due to superior service or uniqueness of the product – have more flexibility in their pricing strategy. Value-based pricing works hand‑in‑hand with the concept of offering more for less. Free shipping, faster delivery, and shipping choices are great ways to offer more value to your customers.
See how you can increase value without increasing costs with Sendle’s great shipping rates.
Staying competitive with shipping options
With 53% of businesses recognising that managing costs is a crucial challenge, and 38% highlighting the need to stay competitive, 2024 presents a great opportunity to benefit from Sendle’s competitive shipping prices.
Every product business owner knows that shipping is one of the most significant costs in ecommerce and dissatisfaction with postal and parcel delivery options in Australia came through loud and clear in the survey. A massive 84% reported that they want more competition in the industry and over a third believe government intervention and regulation is needed to help drive down prices.
In 2023, Australia Post’s price increases sent shock waves through the ecommerce world and 36% of those surveyed moved to Sendle to avoid those increases. If you’re one of the almost 60% that hasn’t moved yet, you’re giving your competitors an unfair advantage, albeit one you can easily fix.
Almost half our survey respondents say it makes sense to use multiple couriers to get the best prices. But it doesn’t make sense to wipe out this advantage by trying to manage the couriers manually. Instead, do it efficiently and use a shipping platform such as Starshipit, ShipStation, or ReadyToShip. These platforms are the seamless conduit between your sales outlets and your shipping services. They free up your time so that you can focus on social selling and pricing strategy.
Finally, it makes sense to only pay for what you use. Sending a 250g parcel at the 500g price means you’re paying for 250g of shipping that you don’t use. Sendle’s 250g satchels are ideal for small consumer items and they’re Australia’s cheapest parcel rate. And we have a competitive rate for 500g satchels as well.
Don’t let shipping bring you undone this year. Switch to Sendle to keep costs under control and stay ahead of the competition.
The future looks bright.
Being successful in 2024 means being prepared to modify your strategy in response to customer demands. And while listening to your customers is important, staying competitive means monitoring suppliers and partners as well. New opportunities will come from unexpected places so make sure you have systems and strategies in place to take advantage of them.
Sendle makes it easy
- No additional paperwork or customs
- Free pickup from your office/warehouse
- No additional systems - use the Sendle dashboard or your 3rd party integrator
- Same labels, just pile the international orders separately for your courier to pick up
- Same $100 of cover, tracking, and carbon neutral network for every parcel
Ready to spread your wings? Start now with a free account.