Four strategies for long-term business growth

Driving sustained business growth is a lot like preparing for a marathon. It involves a long, steady effort, a strong foundation and the right mix of agility and forward-planning to make it to the finish line.

Just as athletes gradually build their endurance with each run, retailers must ensure they invest in the right tools and strategies to stay competitive in a fast-evolving market. Shaun Broughton, managing director APAC at Shopify, explains how to do it!

Here are four takeaways to help merchants future-proof their growth strategy in the face of shifting consumer behaviour, technology advancements and increased competition, and go the distance.

Lean into social selling

With over five billion people worldwide using social media an average of 143 minutes per day, it’s crucial that retailers meet their customers wherever they are – whether in-store, online, or on their favourite social media platform. In fact,  social commerce is quickly becoming an indispensable channel for retailers and is  projected to exceed USD $1 trillion in revenue by 2028. This immersive shopping model seamlessly fits into everyday digital habits, transforming every like, comment, or share into a gateway to discovery and purchase.

Given this vast potential, it’s no surprise that 61 per cent of Australian businesses plan to increase investment in social commerce in the next 12 months, according to the Australian Retail Report. To succeed,  it’s important to first identify exactly which platforms your customers use and what piques their interests. Tailoring your content strategy accordingly, whether it’s behind-the-scenes glimpses of a new product launch, user-generated posts showcasing customer purchases, or interactive livestreams, can deepen engagement and create a sense of belonging around your brand.

Besides the potential boost to online sales, social commerce can help brands offer a more frictionless online shopping experience, gather more data on their audience, and tap into social proof. For example, Shopify’s integration with Facebook and Instagram lets retailers automatically sync their product catalogue to both social media platforms so they can easily create ads and shoppable posts. By leveraging social commerce tools, retailers can maximise efficiency while creating a better experience for consumers – ultimately leading to customer loyalty and new growth opportunities.

Maximise discoverability through affiliate marketing 

“People want to do business with people they like” is an adage that’s truer today than ever. Customers want to be heard, entertained and supported, which is exactly why affiliate marketing works so well. According to Shopify research, affiliate is the second-highest referral engine across APAC when ranked by average order volume, topped only by direct sales.

Affiliates can serve as authentic ambassadors—especially when their content naturally resonates with your business’s target audience. Collaborating with bloggers, influencers, podcasters, or niche publications can introduce products to potential customers in a way that feels organic and trustworthy. Much more than just paid advertising, it’s about building relationships and tapping into the genuine enthusiasm of creators who share your brand’s values.

Tracking and managing these partnerships is crucial for long-term success. Invest in a solution that simplifies commission structures and performance analytics, so you can clearly see which affiliates are driving conversions and double down or adjust strategies accordingly. By weaving affiliate marketing into your overall marketing plan, you can tap into broader, like-minded communities that can help you accelerate continuous growth and elevate your brand’s credibility.

Unlock efficient operations with unified commerce

When it comes to the shopping experience, today’s consumers have high expectations and many are willing to switch brands relatively quickly if their expectations fall short. In fact, while many shoppers cited cheaper prices as the reason they would switch brands, the 2024 Australian Retail Report found convenience (37%) and availability (43%) also strongly influence loyalty.

By investing in a commerce platform that unites online and brick-and-mortar operations, retailers can effectively integrate features like buy online, pick up in-store (BOPIS), live inventory tracking and smooth returns. This unified approach creates a seamless shopping experience that promotes return customers and long-term loyalty.

There are also internal benefits to leveraging unified commerce platforms. With many retailers navigating tighter budgets, higher operational and supply chain costs, and staff turnover, having a unified view of your business’s data and access to tools like automation can help you make smarter choices and do more with less to drive long-term growth.

Navigate global expansion like a local

Lastly, expanding into international markets presents a valuable opportunity to tap into new audiences. During last year’s Black Friday Cyber Monday, 14% of orders for Australian businesses came from overseas, underscoring the growth potential in cross-border commerce.

But while cross-border expansion is a great recipe for growth,  it often comes with complex regulations, fluctuating currencies and cultural nuances. Leveraging the right tools can help reduce the headache and costs involved. For example, Shopify Markets and Shopify’s expansion store functionality aim to democratise international selling by helping merchants manage localised storefronts, logistics, compliance, currencies and the other complexities of going global.

Growing a business may feel like a long, uphill race—but with the right tools and mindset, retailers can go the distance. By embracing social commerce, tapping into strategies that promote discovery, unifying operations and investing in tools to conquer new markets, merchants can not only meet customer expectations but also set their business up for sustainable, long-term success.

Want more? Get our newsletter delivered straight to your inbox! Follow Business Builders on Facebook, X, Instagram, and LinkedIn.