Business

How to Boost the Revenue for your Ecommerce Business

how to increase revenue in ecommerce
Written by Robert Adixon

A study conducted in the year 2013 shows that 41.3% of internet users have made purchases online. This is seen to be on a continuous upward trend reaching 47.3% by 2018 and 54% in the year 2019. With the rise of popularity of online purchases among people, more and more companies are coming in this arena and trying their luck in this billion dollar industry.

The increase in online sales is the main objective of all eCommerce companies, small and big alike. Whether you run a small family retail business or work for e-commerce giants like Amazon and Alibaba, increasing sales through online means is a bit like launching a strike: it seems much easier than it really is.

There are a plethora of ways you can make more sales online, many of these ways you can implement immediately. Some of these tips focus on specific strategies for eCommerce revenue & sales generation that you can implement, while others are more general. In this blog post, we will analyse 25 such strategies, therefore, whether you manage a service-based business or sell physical products, here are 25 actionable and foolproof techniques that you can use to increase the performance of online sales.

1. Be Honest in Your Sales Copy

how to increase revenue in-sales copy ecommerce

This may seem painfully obvious, but it is surprising to me how many websites write checks that your products cannot collect. Honesty in your copy is not only important to the reputation of your online business, but also builds trust in your brand. Do not make claims that you cannot justify, and do not use hyperbole lightly: the consumers of today times are hypersensitive to the commercialization of BS, so be honest, direct and accessible in all your sales copies from your homepage to your campaigns of e-mail.profile creation site list free

In addition to this, this principle applies to how you position yourself as a business. Have you ever encountered an online site that is obviously managed by one or two people, but presents a copy that

would be more suitable for a multinational company? This unethical approach not only makes you look silly, but also damages the credibility of your organization or brand as a whole. If you own a small business, take pride in that and be honest about it: many online customers are turning to smaller businesses accurately because of the more individualized and personal service they can provide. Make sure that do not try to be something you are not.

2. Get More Ad Clicks with Ad Extensions

If you sell products online, ad extensions are quite obvious: this feature (available in both Bing and AdWords) allows you to expand your ad with more places to click. In addition to this, it costs nothing extra and increase click through rate (CTR) of your ad! Incredible true?

READ  Top 10 Inventory Management Softwares

In the example above, the links to and “Sunglasses for women” and “Sunglasses for men” offer people looking to buy a new pair of two additional Ray-Ban two places to click. This saves your potential customer’s time and makes faster and easier to find exactly what he wants (so he goes to his site instead of a competitor).

3. Show Off Customer Testimonials and Trust Signals

Show Off Customer Testimonials and Trust Signals

In today’s social media environment, the feedback of customers has never been so important. Fortunately, it means your satisfied customers can provide you with the most valuable weapons in your arsenal called “Testimonials”.

Legions of satisfied consumers are considerably more influential than even the best-written sales copy, therefore, be sure to include reviews and testimonials from your hardcore brand evangelists who are excited about how wonderful it is. These can easily appear on your product pages, pricing page, landing pages, even on your home page.

In the same way, the inclusion of trust signals can be an excellent way to enhance online sales, as it creates a more favorable perception of your company or brand in the mind of the potential customer and can overcome doubts preventively. If your company has professional accreditations (including something as routine as a membership or certification of Better Business Bureau in local chamber of commerce), place these confidence signs at the center of your site. In case you have an impressive list of satisfied consumers, make sure your visitors know about it.

4. Create a Sense of Urgency

Create a Sense of Urgency

It is important to be transparent and honest about what you do and who you are, but there is no rule against creating a sense of urgency in order to persuade prospects to buy you right now.

Many consumers respond in a positive way to incentives that create a sense of urgency, from urgent special offers to limited edition products and services. Although the ways in which you can achieve this are as diverse as the products you can buy through online means, some strategies may be more effective than others. For instance, if you cannot make a limited edition product to attract potential buyers, you may be able to offer a financial incentive to customers who agree to buy it immediately, such as discount or free shipping.

5. Reach Out to Repeat Customers

Reach Out to Repeat Customers

You should spend your time & resources on acquiring new clients but keep your loyal buyers happy.

This is what the new data from the Adobe’s The ROI from Marketing to Existing Online Customers show:

  •  In the United states of America, repeated customers only represent 8% of the visitors
  • Repeat clients contribute about 41% of the revenue and the figure goes on higher level during the holidays
  • Revenue from the purchase of 1 repeated clients is equivalent to the orders from 5 new buyers
  • RPV increase during the holiday season of Christmas (US)
READ  Top 10 Creative Ways to Increase Your Business

how to increase revenue in ecommerce

What does it mean for ecommerce marketers? Your repeated customers bring in more profit.

Keep in touch with your old customers. Build relationships with them. Send them messages or emails whenever you have any new campaign. Be personal in your approach and send them the greetings on their birthdays.

6. Offer a Bulletproof Money-Back Guarantee

Offer a Bulletproof Money-Back Guarantee

Often, one of the most powerful factors in the decision of the consumer not to buy something is risk aversion: the desire to avoid a potential loss. Most of the time, this perceived risk is financial. Why should someone buy products or services? What happens if they do not work or if the customer does not like them? Even small purchases of products can carry the risk of “buyer remorse”, so overcome this objection from the beginning by providing a money-back guarantee.

The greater the risk that you eliminate from the customer’s decision, the greater the likelihood that he or she will buy you, so eliminate everything that may deter your potential customers from buying you.

7. Offer Fewer Choices

Offer Fewer Choices

For many companies, this concept is simply unthinkable. Surely providing more products and services is a great way to improve sales! Well, not necessarily. In fact, in most of the cases, a greater variety of options can lead to indecision on the part of the perspective, which in turn results in lost sales and overall revenue.

If you have a wide array of products, consider structuring your website or product pages in a way that offers online visitors as few options as possible. This reduces the possibility that the online visitor will be overwhelmed by dozens of different products. This can be achieved by organizing your products and services in increasingly narrow categories (an additional advantage that gives visitors greater ease in finding exactly what they are looking for), or could put more emphasis on fewer individual services or products. Either way, remember that the more options you provide, the more likely the customer is to go elsewhere.

8. Target Lookalike Audiences on Facebook

 Target Lookalike Audiences on Facebook

One of the best ways to enhance online sales is to use the data you have about your existing customers in order to find people like them. Facebook allows businesses to do this through the orientation of similar audiences.

Similar audiences on Facebook are essentially users who share behaviors and characteristics with customers in their database. Upload your data to Facebook, which then cross-references your data (and information from third-party data brokers) in order to create matches based on the criteria you specify. You can also use tracking pixels and application facility data in order to help you create similar audiences. This is one of the most excellent ways to make your existing customer data work for you, as it effectively allows you to expand your reach greatly with minimal effort and use highly specific ads in order to attract Facebook users that are very similar to your customers. existing.

READ  10 Practical Ways to Motivate Yourself to Work on Your English Skills

9. Provide as Many Payment Options as Possible

Provide as Many Payment Options as Possible

Well, your business accepts credit cards. What about Google Wallet payments? Or ApplePay? What about Stripe? And, other similar payment options?

Consumers have more options than ever in terms of how they pay for your products, and not everyone prefers to use American Express. By offering more options for the payment options, including the newest services that are becoming increasingly popular on mobile devices, you are making it easier for your potential buyers to give you their money. Of course, it can be a hassle to optimize your website (and the payment process) to include all these options, but doing it is the best way to increase online sales, particularly if your website has strong mobile traffic.

10. Invest in Quality Product Images

There is convincing evidence that well-presented actually of food tastes better. Given the importance of appearance in relation to the way we perceive things (including other people), it is logical that investing in quality photography of product has a similar effect on your site visitors.

Regardless of what you sell, include optimum-quality images of your products, without tiny thumbnails or poorly lit shots taken in your online store. Also be sure to include a wide range of images. It may seem excessive to include shots of your products from every imaginable angle, but try it. People love to kick the proverbial tires of a product before buying, especially online.

Let’s Wrap Up:

Hope you like all the pointers and these tips help you improve your sales and overall revenue of the online store. Not to mention, a good ecommerce development company is crucial which takes care of all the nitty gritty to make your online venture successful.

You can hire ecommerce developers to save your time & cost. These developers are well adept at providing the best online portal solutions as per the specific requirements of the customers.

Image Credit: adwordsrobot.com

The following two tabs change content below.

Robert Adixon

My name is Robert Adixon and I have been working in Xicom Technologies for the last 10 years as a Consultant. I have worked at various positions in the IT industry and now I guide startups and businesses to launch their Ecommerce websites with ease. I also write articles related to the technical and business aspects of websites and software.

Latest posts by Robert Adixon (see all)