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The 4 stages of ecommerce growth
Today’s self-funded entrepreneurs see their ecommerce stores go through 4 important stages of growth. With the serious challenges of each stage, only a fraction of small business owners succeed to the next.
The Proof-Of-Concept Stage
Revenue: $0-$20,000 monthly
You’ve seen the opportunity and believe that you developed your seed of idea into a viable business that will profit and grow. You need to prove this store can work and fund its own growth into the future.
Challenges
- little to no brand presence or demand
- untested store, policies, pricing, and marketing methods
- justifying a marketing budget against projected returns
The Establishment Stage
Revenue: $20,000-$500,000 monthly
The seed has taken root, and you’ve now demonstrated that your products, website, and your business execution so far, have merit. You’re now looking beyond just covering the costs, you want to solidly establish your position in the marketplace and focus on growth.
Challenges
- advertising inexperience per channel limiting the marketing spend’s overall effectiveness
- inefficient conversion rate
- gold standard customer service fulfillment
The Growth Stage
Revenue: $500,000-$10,000,000 monthly
You’ve cleared many of the hurdles 99% of online businesses have failed to, and have successfully established your brand and reputation in the marketplace. You’re now likely the target of other businesses both bigger and smaller than you, all of them hungry for the revenue you’re generating.
Challenges
- over-reliance on too few marketing channels
- marketplace vulnerability (black swans and competitors)
- online reputation defense, management, and growth
The Brand Stage
Revenue: $10,000,000+ monthly
You’re now one of the major players in your marketplace and your brand is incredibly valuable. You’re outgrowing what all but the best agencies and consultants can do for you and you’re hiring experienced rock stars to work within your expanding team.
Challenges
- production cost reduction
- creating procedures for your business that scale
- acquiring the needed talent
KeyCommerce’s specialization
We’ve found a niche where our team and methods shine. It’s growing stores from their second stage all the way through their third.
There’s a list of store owners who can attest to how good we are at this.
If you’ve hit this stage and would like to speak with us, please book a call.
If you haven’t yet passed your first stage, keep going!
We’ve published a lot of content on YouTube and our eCommerce Blog to help, because we want to talk to you when you’re ready for us.
