An E-commerce business, whether new or at a growing stage needs some new strategies to be implemented to maintain a constant growth curve. According to research, in 2013, internet users were found to have made 41.3% of online purchases, which has seen a continuous growing trend of 47.3% by 2018. In 2015, E-commerce sales had reached 1672 billion US Dollars which is estimated to reach USD 2995 in 2018. The entrepreneurs or the E-commerce owners should smartly take advantage of this growth by implementing some smart strategies to increase their revenue.
Here are a few tips that can help to boost your E-commerce business revenue:
Focus on the Target Customers
It becomes very important to reach out to the right target market, in order to avoid wastage of time and investment. This can be recognized through personal interactions, through surveys or by using Analytical tools which help you recognize which visitor looked for or purchased what product or services. SEO tools can help drive the target customers easily. Based on this existing data, you can reach out to the right target customers.
Use attractive Product descriptions
Product descriptions should be crisp, short, convey all the information directly and in a magical tone that easily draws customer attention based on their interests. Research suggests that buyers hardly read the entire product description and just scan through the words. Using subheadings, bullet points, large and readable fonts lots of uncluttered space and beautiful pictures of the products attract customers easily. In fact, Videos storytelling and showcasing the products have shown 800% conversion on landing pages and it sells 6 times more than just print and online ads.
Use Product Reviews
Back your products with a lot of product reviews. Customers tend to trust the opinions and reviews of the other people who purchased the same product, rather than just the product description. Lure the lucky customer reviews with some rewards, to get better reviews. Personalised emails with phone numbers that they can contact for complaints and concerns along with the review link, builds customer relationship and trust.
Use Social media
Social media is found to be driving sales at a remarkable rate with respect to many E-commerce businesses. Facebook and Instagram have proven to be the top-ranking pages among them. Post ads on Facebook and Instagram, content, images and stories regularly. The followers, their like and comments, drive the influencer market, thus driving traffic to your website. Also, use PPC ads and affiliate campaigns to drive more traffic and incentivize the visitors or buyers for remarketing.
Offer Discounts and Coupons
Upselling and cross-selling of the products as well as bundling them up increases sales at a large rate. Bundling up newly introduced products along with a bestseller products is another strategy that can be used to drive sales. Discount on these bundles, offering coupon codes on every purchase, as well as personalised mails with coupon codes are some of the smartest ways to drive traffic. These convert the customer as well as maintain a good relationship with them so that they come back and make a purchase at the same site in future.
Couponobox.com is one such site which offers coupon codes and discounts on anything that you purchase online in the US. It has a variety of stores and categories to choose from as well as a great deal of discounts on every purchase.
Monitor and eliminate Abandoned Carts
Most customers leave their shopping carts even before checkout. This leads to a major loss for the E-commerce companies. The main reasons are:
Registration before purchase: Stop forcing the customers to register before they make a purchase. You can ask them for an after-sale review with all their details. This will reduce cart abandonment.
Secure Payment Gateways: Security is a major cause for cart abandonment. Secure payment gateways give the customers confidence to go ahead with the purchase.
Free Shipping: Most customers leave the cart because of shipping charges. Free shipping increases sales by 40% by especially repeat buyers as well as increase the number of new users.
Take measures to prevent cart abandonment to increase your conversion and revenue.
Apart from the above tips, focus and retarget on the customers, personalization through e-mails as well as a recommendation during purchases drive more traffic to the E-commerce websites. Research and follow strategies that suit best for your business to increase your revenue exorbitantly in 2018!! All the best!!