How to Boost Your eCommerce Store Business
Given how simple it is to create your own eCommerce store, all thanks to companies like Shopify, you may have recently considered starting one yourself, or you want to improve the one you already have.
After all, creating an online store is a great way to start earning money online. However, simply creating a store will not result in increased sales. To increase sales, you must understand retail marketing.
It is critical to evaluate retail visits and orders in order to target your audience and increase sales. This graph will assist you in analyzing it.
In this article, we’ll look at 7 things you can do to boost sales for your e-commerce business. We’ll look at specific tactics you might employ and why each one works.
Ways to Increase Sales
Here are some of the ways to boost your e-commerce business:
1. Determine your pricing
Your competitors frequently adjust their pricing and launch product promotions in response to changing market conditions. If you don’t use specialized, dynamic, and targeted pricing approaches, you risk losing ground in your business.
One of the methods for achieving this is to use IP geolocation to optimize prices.
Using IP geolocation can enable you to analyze website traffic as well as give customized pricing based on the information you have.
You risk losing money if you don’t have a clear price breakdown for someone in the US and another for someone who’s in India. Tax rates and some other shifting geographic price dynamics must also be considered.
You may also develop geo-targeted matches to help increase e-commerce purchases using the IP data. A customer with South Asia as his location, for example, may be interested in cricket-related stuff, whereas a customer from Canada might just prefer items related to ice hockey.
This is an excellent strategy for increasing e-commerce sales because it can result in satisfied customers and larger profit margins. You can consider it one of the best strategies for boosting online purchases.
2. Make a mailing list
Email marketing offers significant untapped potential for increasing e-commerce purchases. A large email list can greatly influence or help with consumer targeting and remarketing, resulting in a much greater conversion rate.
Emails offer far greater click-through rates, and they also offer more potential for consumer acquisition compared to social media platforms.
One of the most interesting parts is that offering rewards to clients who supply information does not have to appear forceful. Offering online discounts, one-of-a-kind gifts for reading newsletters, putting boxes for signup at the point of sale or checkout, and other closely related techniques will help you grow a huge email list organically.
If you’re wondering how to increase e-commerce sales, then you may also add personalized touches to your emails, such as greeting subscribers with their names and audience-specific email list groupings.
3. Create advertising and marketing campaigns for a variety of social media sites
An e-commerce business must be socially active and present. You should be present on all social media networks in order for your eCommerce store to gain visitors and create sales. You can equally do this to boost brand recognition, engage audiences, and gain access to influencer networks.
Every social media platform has a unique audience, as well as benefits and drawbacks. TikTok can help you get famous people to endorse and advertise your products and services. However, the highest conversion rates may be found on Facebook and Instagram.
Understanding the behavior of your specific target market on various social media sites can have a significant impact on your e-commerce performance.
The good news is that you’re not alone because there are numerous social media listening, scheduling, and content marketing tools that simplify your job and boost e-commerce sales.
If you’re not sure how to increase e-commerce sales, this is the best option.
4. Scarcity can be used to push people to take action
Even if your goal isn’t to fully redesign your online store to raise sales, you still need to generate a sense of urgency in order to improve e-commerce sales. This is most easily accomplished by leveraging scarcity.
In reality, scarcity helps consumers recognize the obvious value of a rapid purchase.
Displaying supply levels on product web pages, for example, could appeal to shoppers’ fears of missing out. Customers may be compelled to act even if they get emails informing them that supplies of a particular product are running short.
Competitiveness can also foster a scarcity mindset. Some stores accomplish this by displaying the number of customers exploring or purchasing a given item. This can encourage customers to join the train.
Bottom line: If consumers consider your product as a limited-time, vanishing commodity, your e-commerce sales will skyrocket.
5. Give a money-back guarantee
Building trust is critical because online customers are unable to hold or test out products physically. They require additional assurance before they will feel you are a trustworthy retailer.
Money-back guarantees demonstrate your belief in your product’s quality while also contributing to the establishment of this type of trust. However, there are some potential risks that are commonly associated with the promise of full or partial refunds. Some clients can see this as an e-commerce flaw and may try to take advantage of it.
Adding a time limit is one method of protecting oneself. Depending on the product, you may be able to configure the warranty to last 30 days or about two months, for example. You can define certain restrictions for the guarantee’s continuing validity.
A lawyer can also assist you in developing a policy for money-back guarantees. This is an excellent approach for individuals who are confused about how to increase e-commerce sales.
6. Provide social proof to build trust
Why would someone choose your eCommerce store from a sea of internet options?
Nowadays, how consumers perceive eCommerce products on social media platforms can determine whether a sale or an entire business is made or lost.
You may utilize social proof in a variety of ways to increase the sales of your e-commerce firm. It’s also an excellent e-commerce SEO strategy.
Start by emphasizing positive comments on your social media sites and your celebrity endorsements. However, deleting negative reviews is not a good idea. It is just as crucial to keep your site’s review section honest as it is to receive outstanding client comments.
If you truly want to increase e-commerce sales, the influencers you choose to collaborate with should have a social profile that corresponds to the needs of your target audience.
Despite Kylie Jenner’s popularity on social media, asking her to promote a sports product may not be the best idea.
7. Invest in sponsored advertising to increase sales (Facebook, Twitter, Instagram)
Paid social media ads, in addition to organic social media marketing, should be part of your e-commerce marketing strategy.
The shared content on your social media pages is only visible to your followers. Paid adverts allow you to reach a new audience if you want to increase e-commerce sales.
Social media networks offer a plethora of options for targeting the right audience for sponsored content. You can contact consumers based on demographics such as geography, purchasing interests, age, or gender to find your ideal e-commerce target audience.
Additionally, ensure that your content is often updated. People’s memories fade fast. Brands that approach them once a month will not be noticed.
Schedule advertising and construct a paid ads calendar to stay on top of things and steadily grow e-commerce revenues over time.
Remember that not all of your paid advertising must be about your products. Customer loyalty and rapport can be considerably increased by showing behind-the-scenes videos of your company’s operations.
Other Ways to Boost Your eCommerce Business
Apart from the 7 ways given above, there are other effective ways you can use to boost your eCommerce business. Here are some of them:
Change the way you check out
To enhance customer experience and boost online sales, optimize your e-commerce store’s checkout process. The likelihood of a consumer abandoning their cart increases with the amount of time they spend entering their personal information and financial/payment information.
Some customers might not want to register before making a purchase. Others might only feel secure using a particular kind of payment. However, some people might find the website’s design puzzling.
The customer journey may be greatly streamlined and sales increased by making small adjustments like including guest checkouts, numerous payment methods, incorporating CTA buttons into products, and making password resets simple.
This is a straightforward method for increasing online sales.
Provide several payment alternatives (BNPL)
Customers put items in shopping carts with the intention of purchasing them. If they don’t have a method of payment that is convenient for them, they might just change their minds.
There were formerly only a few payment methods, like PayPal or credit cards. And the particular issue with credit cards was that they featured exorbitant interest rates and late payment penalties.
These days, the majority of online retailers provide “(BNPL) buy now pay later” solutions like Sezzle, Klarna, and Pay, which undoubtedly aid in growing e-commerce sales. These new payment options, as their name suggests, give customers the option that allows them to buy the product now and pay later at very little interest rates and costs.
This significantly reduces cart abandonment and it also raises the bar for flexible payments. Additionally, they guarantee that advance payments are made to the owners of online stores without risk or fraud.
However, the availability of buy now, pay later choices shouldn’t be limited to the checkout procedure. To make the most of these flexible payment choices, include them early in the client journey process—through banners and paid advertisements, for example.
To ensure that you don’t miss out on consumer payments, it’s crucial to compare and choose from a variety of relevant payment gateways.
Examine the Gmail adverts
In the social or promotions tab, at the top of a prospect’s inbox, are interactive adverts known as Paid Gmail Ads or Gmail Promotion Ads.
You may use various methods to create useful Gmail advertising to advertise your e-commerce business. The possibilities are endless, from incorporating a clickable link to your site’s online store to a playable movie. Additionally, Gmail Ads save you time since Google basically automatically makes them mobile and desktop responsive.
Prospects who view Gmail ads are in the awareness and interest stages of your marketing funnel. Create your Gmail Ads so that they look like post-click landing pages. Include your unique value proposition as soon as possible.
Implement a chatbot or launch a live conversation
Chatbots, with other intelligent systems, are among the greatest tools for customer service and conversational marketing in e-commerce. Chatbots don’t just assist clients or deliver straightforward queries. An important thing they can do is to foster consumer relationships and execute an extensive two-way interaction.
Chatbots are also used by e-commerce companies as a way to make the purchase of products easier and to provide answers to questions that clients may have. To increase the rate and ease of interaction, you could also give “human names” to your e-commerce chatbots.
AI chatbots have an exceptional ability for adaptation since they continually learn from past user interactions. They are, therefore, ideal for addressing routine client inquiries and clearing chat queues, which lightens the workload of human customer service representatives.
Ensure that the entire message is consistent
Customers can know your company without even remembering its name if your distinctive colors, typefaces, layouts, logos, sales material, and other communication aspects are constant.
Utilize a variety of tools and techniques to keep your messaging consistent. To begin with, you can generate messaging templates by integrating automated marketing solutions with your e-commerce websites.
Utilize content management systems to share content across your online store with brand identifiers quickly.
It sounds a little bit like getting cut on the foot because an online business is about making money and not losing it, right?
But what if offering freebies could boost your revenue?
Yes, offering freebies aids in long-term sales.
For instance, offering complementary goods might increase client confidence. Additionally, you are not required to give away free items. To give clients some time to evaluate the worth of your items before committing, you can provide free trials.
To raise the average order value, you can choose to provide free delivery and shipping on transactions over a specified threshold.
Instead of seeing it as a loss-making strategy to boost e-commerce sales, consider it a wise investment to build trust with new clients.
Monitor user interaction and determine what works
You may monitor a number of eCommerce KPIs and analytics to raise the efficiency of your store. The data that is collected by your online store, social media, analytics software, and other e-commerce technologies can increase sales.
The engagement metrics that you track will change depending on which level of your business sales funnel you’re aiming for. For instance, indicators like average order value and cart abandonment will be prioritized during the conversion phase over impressions and reach.
Demystify the issues preventing customer conversions and customer engagement by including the customer lifecycle in your strategy.
Make mobile browsing more enjoyable
Today, the majority of Internet traffic comes from smartphones. If your online store is not mobile-friendly, you could lose out on some significant purchases.
Put greater emphasis on visual material than text elements when there is a lack of screen space. Where text is necessary, use bullet points with brief sentences. Whenever feasible, incorporate videos. Products with video presentations are much more likely to be purchased by mobile users.
Conversion rates are higher when a customer’s online shopping experience is as frictionless as possible.
Compile a list of “best sellers”
An excellent technique to get buyers excited is to leverage hot trends by listing best sellers.
A bestseller metric is integrated into the reports of most e-commerce platforms. Vendor, sales, SKU, and other parameters are the top seller details. They can be used to make a category for best sellers within the site’s product pages.
The top sellers over time, as well as the hottest items, should be clearly displayed. Reports can be filtered to show sales in different ways.
Include testimonials on your site
Customers often research product reviews online before they make a purchase decision. It is crucial to have reviews on both your e-commerce website and social media platforms. By doing this, you can make sure that consumers continue to have a favorable perception of your company across all channels and points of contact.
To include consumer reviews and feedback in your online store, use a low-cost e-commerce review collection software. Customers can also email you to leave reviews.
Regardless of the path you choose, make the reviews visible. For best results, the reviews should be clearly displayed in the shop.
It’s better for these tips to work together. The more strategic activities you implement, your e-commerce sales will increase. However, it is critical that you research your shortcomings and select the most practical method for each level.