So you’ve set up shop online and have the daily running of your business part waxed. How do you take your business to the next level and double your e-commerce business? And more importantly, how do you grow and scale your business and ensure that customers keep coming back for more? You’re in the right place. We’ve compiled a list of the top 6 strategies that you can use to bolster your online business and double its value.
1. Increase your website traffic
If your website isn’t receiving enough traffic, chances are that your business won’t be growing anytime soon. This is where you’ll need to look at your stats to give you a better indication of what’s going on. The easiest way to do this is to look at your past three months of traffic. You’ll be able to pick up on trends that will show you how you can tweak or change things up. Also on the topic of traffic, look at which sources provide you with the highest traffic and also which of your website pages are the most viewed. There are many ways to attract more users to your site but experts recommend using a combination of paid ads and Search Engine Optimization strategies to get the best results. Remember, high-quality traffic will result in a higher likelihood that you’ll increase your sales.
2. Increase your conversion rate
Conversion rate optimization (CRO) is constant when running an online business. It takes loads of fine-tuning and tweaking to see what works best for your business. Many business owners say that getting traffic is the easy part, getting a customer convert is a whole new ball game. Your conversion rate is an important metric to monitor. If your online business current conversion rate is sitting at 2 % and you can increase that to 4%, you’ll double your sales from the same amount of traffic.
But how is this done?
Research shows that low conversion rates are mostly due to poor website design. We all know how off-putting an overly zealous webpage can be one that bombards you with adverts, pop-ups, and spam my content.Customers expect an online shopping experience that is seamless meaning that you’ll need to minimize any barriers they may face during the checkout process.
The following tips will help you to minimize barriers :
- Remove any distractions such as pop-ups from your check out page.
- Use eye-catching fonts and colors for your “Add to Cart” button.
- Ensure that your website is responsive and performs well on smartphones and tablets.
- Trigger email reminders when a cart is abandoned.
- You can also boost revenue by increasing your average order value.
The most effective way to do this is by encouraging impulse purchases during the checkout process. This process can add incredible value to your offering and will boost your revenue significantly. Think of this process like a candy aisle in the checkout queue of your local shopping mall. These products are strategically placed to lead you into temptation.Besides using impulse purchases, look into plug-ins and apps that can help you structure bundle deals, offer free gifts, or even allow customers to earn loyalty points, etc. In the world of online business, increasing your average order value is a relatively simple and affordable strategy that you can implement to make more money.
3. Leverage marketplaces to grow your sales
Keep your customers close and your competitors even closer. Instead of being threatened by big retailers, use them to your advantage by listing and selling your products through marketplaces like eBay and Amazon. You can get massive exposure for your products thanks to the millions of customers who visit these sites. This strategy is an incredibly clever way to boost your visibility and revenue. Chances are that customers who purchase from marketplaces probably wouldn’t have found your site by themselves so consider these to be a bonus.
4. Boast Customer Testimonials
Another great tactic is to always showcase honest customer reviews on key landing pages. Place your testimonials (ones with pictures are even better) on the homepage, about us page, contact us page, and category pages. Sign up for Trustpilot or Reviews.io. These types of independent review platforms reinforce your brand authority and integrity. Not only do they provide genuine and sincere customer feedback, but they also plug effortlessly into your CMS (Content Management System)
5. Increase your trustworthiness
Cybersecurity is one of the biggest concerns that online shoppers have. Statistics estimate that 46% of Americans have fallen victim to credit card fraud so ensuring the security of customer information should be a top priority. With that said, ensure that your website is secure and that you visibly display your security badges on your website. Nobody will want to make purchases on your website if it comes across as dodgy or untrustworthy.
6. Harness the power of FOMO (fear of missing out)
Nothing bothers an online shopper more than thinking they’re missing out on the bargain of the century. Make it a priority to create a sense of urgency when selling your products.This will get a shopper checking out way quicker than waiting on them to complete their purchase at a later stage (which 99% of the time never happens). Let your customers know that you have limited quantities, even if it’s not the case. This creates a sense of urgency and propels shoppers to purchase. Make it a habit of running flash sales.You could advertise a sale that ends at midnight so if your customers don’t buy now, they could miss out on a deal. Get creative and ensure that your marketing campaigns are actionable.
Conclusion
If sales are starting to slow down or have come to a grinding halt, you’ll need to put on your thinking cap to come up with fresh and creative ideas to market your business. Hopefully, this article will inspire you to jump into action and have you doubling your online ECommerce business in no time.