5 limiting beliefs that prevent your development in e-commerce

Many e-commerce managers works with sets of beliefs how digital marketing should be performed. These beliefs often dictate their strategic moves, sometimes to their detriment. Outdated or not true beliefs not only holds back progress, but can also lead to missed opportunities and wasted resources.

Author: Marek Molicki | Account Director

Today I will focus on breaking 5 common beliefs that may be holding you back from achieving greater success.

Myth no 1. You need a big budget to be successful in your campaigns.

A common misconception is that the success of digital marketing campaigns depends on having a large budget. Are huge financial outlays always needed to achieve good results? NO.

Startups with minimal budgets gain popularity thanks to one clever social media post that goes viral. And this is not a stroke of luck, but a planned action that is the result of in-depth knowledge of your target group. Knowing how and where to talk to this group. Small businesses outperform larger competitors with targeted, low-cost content marketing. Content that primarily answers customers’ real questions, solves their problems and does not sell directly. They offer value without expecting anything in return.

Niche brands generate high engagement through profitable collaborations with influencers. And not necessarily the most famous and expensive ones. Wise brands choose those who are authentic and resonate with their target audience. Who are respected by the target group. Small businesses operate on platforms where their potential customers find themselves, talk, act and react. They understand their customers. If you want to understand, you better check out TikTok. Today it is an encyclopedia of knowledge about digital marketing, scoail selling and conscious brand presence on the Internet.

Success in digital marketing depends not only on the size of the budget, but above all on creativity, targeting and message resonance. But most of all, knowing your customers and being able to respond to their needs here and now. Is the belief that more money means more success still valid? Absolutely not. What’s more important is how wisely you use the budget you have.

Myth no 2: One approach fits all

It’s very tempting to think that one marketing strategy will work in every scenario. Is this really an effective way to reach diverse customer bases? Absolutely not.

Assuming that what works for one product or audience will work for all others is a critical mistake. This belief limits your potential:

• Personalize experiences to increase customer satisfaction and loyalty.
• Audience segmentation to deliver more relevant and effective marketing messages.
• Testing different strategies to discover what works best for different demographics.

E-commerce expertise is not about using a one-size-fits-all strategy, but about adapting and evolving approaches to fit the unique needs of each audience segment. Especially today, when buyers are Gen-Z, Millennials, Gen-X, and Baby Boomers. But the oldest of the youngest, i.e. approximately 14-year-old representatives of the Alpha generation, have pocket money and are not afraid to use it.

Does one strategy work for all? The answer is no. Personalization and adaptation are key in today’s diverse marketplace. Don’t think about platforms, but about customers. Some will only be on TikTok, others only on Facebook. Still others only on YouTube, but there will also be those who will be on two or three platforms. And they will look for answers to their questions and solutions to their problems there.

Continuous learning and adaptation to a dynamically changing market is a must if you want to remain competitive and relevant.

Myth no 3: Lower prices always lead to more sales.

Many e-commerce managers believe that price reductions are a great way to increase sales. But is it always effective? In the short-term often yes, but how about a longer perspective?

Think a while about such a scenario: a luxury brand drastically cuts prices, a well-known tech store offers deep discounts on outdated models, or a bookstore lowers prices overall. It might seem that these activities will naturally increase sales, but this does not always translate into reality. Lowering prices can sometimes devalue your brand or suggest lower quality. Instead, focus on showing the value your products offer. For example, highlight unique features, excellent service, or exclusivity. Highlighting these elements may justify maintaining or even increasing prices while increasing sales.

Look at Apple. They keep their prices, but consistently see high sales because they emphasize quality and innovation. Does a high price always discourage customers? No, if they believe they will get extraordinary experience starting even from unboxing the product. Remember that value matters, not just price.

Myth no 4: Market Saturation Limits Opportunities

It’s true – the e-commerce market is very saturated. However, competition doesn’t mean there isn’t room for new players, especially if you offer something unique or operation into a specific niche. A niche that may turn out to be quite large.

If you wonder about the e-commerce market and you find it crowded think about this example:  the ocean is vast, but there is still room for different types of fish in its unique ecosystems, right? Here’s the key: Identify your niche market and tailor your offering so it resonates with customers. You can focus on specific demographics, interests, or issues. Strength lies in the ability to stand out. Get to know your target group and their specific needs thoroughly. This is one of the most important exercises that you need to do constantly. Develop a clear brand identity and value proposition that stands out from the crowd.

Do you want a great example? Dollar Shave Club. They entered a seemingly saturated market (men’s razors), but have carved out a niche for themselves by offering a convenient subscription service with high-quality blades at a competitive price. They won. Data and audience research played a key role in their success. They understood the shortcomings of traditional razors (high prices, uncomfortable cartridges) and came up with a solution that appealed to their target demographic.

Remember that even in a saturated market, there is always room for companies that offer a clear value proposition, stand out from the competition, and serve a specific audience. And if you need inspiration, go to TikTok. New people regularly appear there and generate very high sales quite quickly.

Myth no 5: Working with data is only for large companies

Working with data may seem out of reach for smaller e-commerce ventures, but for them, it is just as important. Small businesses can use analytics to gain insight into customer behavior and preferences, even on tight budgets. This belief comes from the notion that big data requires expensive technology and a dedicated team of data scientists to make any meaningful use of the information.

It’s a myth that to harness the power of data, you need a huge team of data scientists and complex software. In reality, today, even small businesses have access to a wealth of data-driven insights. Expertise is a journey, not a destination. You don’t have to be a know-it-all data guru to take advantage of the information available at your fingertips.

• Start from small and manageable tasks – basic analysis of customer demographics or purchasing behavior can provide significant insights.
• Incremental improvements: Use data to make incremental changes that can significantly increase efficiency and customer satisfaction.
• Data is not just about large amounts of information; it’s about making smarter business decisions based on the data you have access to.

Look at how small businesses are using platforms like Shopify that provide integrated analytics to understand customer purchasing patterns and preferences. This data helps them adapt marketing strategies, manage inventory more effectively, and create personalized shopping experiences. Don’t forget about your best friend today – Generative AI. With the great prompt, you can do miracles with data and understand your customers to the bone.