A Guide to Boost Revenue From Your E-Commerce Store in 2022
Entrepreneurs who want to launch successful ecommerce stores will find it challenging. As soon as you have made the courageous decision to jump into ecommerce, the next step is to support your ambition with a sound marketing plan.
If It’s natural to worry about whether you are doing enough to attract visitors to your online store, I can tell you that the answer is “no.” Every online business owner desires more traffic and sales, and you can always make changes, adjustments, and strategies that will improve your ROI.
Developing a fluid revenue generation plan is fundamental to any marketing or business strategy. As a result of this, it may be necessary to tweak existing tactics and performance issues as well as to deploy new methods of generating traffic and sales.
There are a number of effective methods that can be used to increase eCommerce sales and build a successful online business. Almost anyone can learn and achieve this goal if they are willing to work towards it.
There were not many gurus and ecommerce consultants around in the early days – none had any prior experience in the field. This provides you with the opportunity to learn from your mistakes and achieve success.
If Just a few small tweaks can result in a 50% increase in sales (or even more) if you know where to look. You may not be able to achieve your conversion goals if you change the wrong things.
Not only that, but it might even result in the opposite effect. There are so many possible aspects to optimize that it is difficult to know where to begin.
To help you optimize your eCommerce store, we have prepared a guide. As you go through the guide, you will be guided step-by-step through the most important optimizations that should be performed for your eCommerce store in order to attract more customers, increase sales, and recover revenue lost to abandoned shopping carts.
Consumers can now easily order products online thanks to new technology. Changing a few simple aspects of your online business can help you gain a greater share of the market in your industry.
Tips for Boosting Revenues From E-Commerce Store
1. Make Social Media a Part of the Buying Process
Despite Instagram’s high average order value ($65.00), Facebook holds the lead within the industry when it comes to reaching. Also, a recent study revealed that Instagram and Facebook offer brands two times more engagement than other social media platforms.
Facebook generates the largest share of orders through social media marketing due to its high engagement rate (167 million daily active users alone in the U.S. and Canada).
Facebook accounts for 85% of all social media orders, making it the largest platform for social media marketing.
Internet e-commerce platforms typically integrate with Facebook, so you can sell directly through a Facebook page that links to your online store.
Display your products on all major social media platforms in the form of feeds using a product feed extension and you will see your traffic, leads and sales skyrocket.
2. Sales of Products are Increased by Social Proof
In a recent Nielsen study, 70% of consumers have indicated that they trust the opinions of other consumers when shopping online. Conversions can be increased when you use social proof to bolster shopper confidence.
In order to increase revenue, social proof can be used in several ways:
- A display should be placed on the wall showing how many products have been sold to date (i.e. “X number of people bought this item”).
- As seen on Amazon, use a recommender that states “Other people who bought this item also bought…”.
- Every eBay listing includes a record of the number of sales and the number of viewers.
- Similarly to the way Airbnb displays its reviews, displays the total number of reviews.
- Provide an overview of the number of people who have saved or added a product to their wish list.
- The product pages should include testimonials.
- Adding social proof to your online store can be accomplished by purchasing third-party applications. Using the Notify app, for example, all visitors will see a small message in the footer of your website when a product is purchased. The product is displayed, as well as certain non-revealing details about the individual who made the purchase, such as their city, state, and country.
- Such an application can increase sales for a busy store by providing social proof and information regarding other exciting or trending products.
3. Identify Abandoned Carts and Pursue Them
Do you realize that you’re losing approximately two-thirds of your revenue right now? An analysis of 33 studies containing data on Ecommerce shopping cart abandonment shows the average abandonment rate to be 68.63%, according to the Baymard Institute.
Leaving that much money on the table would be a big mistake.
Many reasons can cause people to abandon their shopping carts – the key is removing as much hesitation as possible.
- Be Ensure that shipping costs are transparent as soon as possible. Cart abandonment is most commonly caused by shipping rates.
- Provide an easy checkout process. The complexity of the checkout process is responsible for eleven percent of abandoned carts.
- Make more payment options available to them. A lack of preferred payment methods accounts for seven percent of abandoned carts.
- Make sure they do not have to register. We found that 14 percent of people abandoned their carts because they didn’t want to sign up.
Should a shopper abandon his or her cart, you should have a system in place to keep them engaged. In general, 27 percent of customers prefer to browse around before making a purchase, 24% want to save their cart and return later, and 41% are just not quite ready to buy.
Abandoned cart recovery emails help you stay in touch with those shoppers. Send them a series of emails immediately after abandonment, a few hours later, and the next day at the very least.
Show them the items they left in the cart, offer a promotion or discount, and craft a compelling and personalized email that reminds them about the products they left behind.
Lastly, don’t hesitate to contact them directly and inquire as to why their cart has been abandoned.
4. Make Your Content Stand Out
Consumer problems are addressed by the products you sell. A customer’s identification of a problem does not automatically imply that they will purchase the solution on the spot.
In order for the solution to be effective, there must be some trust. There are many customers who would like to be assured that the product is the right one for their needs.
A person who would like a guarantee that the product they are considering is the right one for them. A blog, a video, an ebook, a buyer’s guide, or even an image is a great tool for connecting your audience with the right answers. Often, your content serves as that little piece of extra information that a customer requires before making a purchase.
Maybe it’s a buyer’s guide on the 10 best portable grills to take on a camping trip. It may be a video demonstrating the benefits of a product or showing how customers use the product in different environments that tips them over the edge.
By leveraging user-generated content, Shopify is able to help its e-commerce users succeed while also publishing high-quality content on its blog.
Shopify cofounder Scott Lake says that building a profitable online store is difficult. We are fortunate to have a community of Shopify clients who are willing to assist one another in our support forums.
There is an atmosphere that makes me feel that we are all in this together and that we will all succeed together.”
Consider the ThinkGeek blog as an example of effective Ecommerce content marketing. As part of its regular feature,
it publishes round-ups of upcoming “geek” events, with collections of cool links and creative content that is relevant to its audience, such as “Top 10 Fictional Uniforms We Want to Wear to Work.”.
No matter what type of content you create and promote, you can increase consumer confidence while also driving organic traffic to your website.
5. Descriptions of Products Should be Improved
Regardless of how beautiful or popular your website is, a poorly written product description will undermine your conversion rates.
The fact that your customers are shopping online means that they cannot physically examine your products. The pictures and descriptions of your products are essential for them to visualize how they will use them.
Consumers don’t respond well to regurgitated manufacturers’ specs – or worse, their competitors’.
During an interview with The New York Times, Alibaba co-founder Jack Ma said that you should learn from your competitors but not copy them. There is a saying that says, “Copy and you die.”.
Make sure you think about your target market and your ideal customer – the person you want to buy your product from.
The solution it provides for them should be considered in light of the way they use it. By using benefit statements that highlight the value proposition, write compelling copy that appeals to them on an emotional and personal level.
Product descriptions that are focused on people are guaranteed to result in higher conversion rates and more sales.
Optimizing them for relevant keywords will also increase their chances of appearing in organic search results.
If you have hundreds and thousands of products and creating SEO-optimized meta tags for all of them is difficult, you can use Magento 2 meta tags templates or any such tool for your relevant platform to automate the task.
Using the tips in this article, you can generate more sales from your eCommerce store.
The most important thing is to establish your brand as a leading provider of high-quality customer service, to become familiar with your customers, and to reach out to them through social media.
Considering any of these suggestions, we recommend starting small and implementing one idea at a time, so you can measure the results and realize when progress has been made.
The circumstances of each business are unique, so what may work for one business may not be suitable for another.