10 Useful Tips on How to Increase your eCommerce Store’s Revenue

These days, online shopping has become as much of a necessity as it is a commodity. In this ever-changing world we live in, keeping your eCommerce store profitable can be a real challenge. Here are some tips and tricks that will help you boost your eCommerce store’s revenue. 

1. Include Customer Testimonials 

Once, we were all concerned that the internet would turn the world into a “global village.” While that prediction has come true only to a certain extent, some aspects of that imaginary village have prevailed. Namely, we still rely on the virtual “word of mouth” when shopping online. 

The only difference is that now the potential customers seek out the testimonials section. One study shows that more than 90% of people surveyed admit that positive user-submitted reviews influence their buying decisions. Another study demonstrates that only five positive reviews of a specific product may boost sales by a whopping 275 percent. 

That’s why it’s important to give your customers the option to leave reviews as soon as you start doing business online.

2. Search Engine Optimization Is Your Friend

Never assume that your potential customers know exactly what they are looking to buy. Sometimes, all they have is a general idea. That’s when a well-written, SEO-optimised copy can persuade them to visit your store and potentially make a purchase.

Try to anticipate any questions the buyers might have. Make a well-organized FAQ section for each product you offer. Overall, do whatever it takes to demonstrate to your potential customers that you have put lots of thought and effort into your product before putting them up for sale. Doing so will help put their minds at ease and persuade them to shop with you. 

3. Get to Know Your Customers 

Pay extra close attention to your target audience. Check your pre-existing user base to find what are the characteristics that most of your users share. Try to appeal to that demographic even more. Remember, repeat customers matter even more than new ones. According to Adobe, one repeating customer spends five times more than a newcomer. 

Because of that, try to establish a personal approach to your loyal customers. Send them birthday greetings and special offers. Customers’ loyalty can be a great asset when it comes to increasing your store’s profits.

4. Use Facebook Exchange Together With Facebook Ads 

If you know your target audience, Facebook Advertising can help you aim at that particular demographic segment. Add the Facebook Exchange in the mix, and you got yourself a winning combination. The two services combined can boost sales up to 89 percent, according to a recent study.

Facebook Exchange works by dropping a tracking cookie on a potential customer’s PC once they visit a particular page on your site. Also, suppose the user puts an item in the cart without making a purchase. In that case, an additional cookie signals Facebook that it should display ads encouraging the potential customer to complete the purchase.

Check out our tips for designing banners as well.

5. Set up an Abandonment Chart Exit Offer 

Speaking of shopping charts, it might surprise you to learn that the average shopping cart abandonment rate for eCommerce stores is between 60 and 80 percent. Because of that, consider adding an extra incentive for those shoppers that leave items in the cart without completing the purchase. 

Coupon codes and free shipping offers have proven to be highly effective exit offers that help customers decide to make the purchase. 

6. Offer Different Payment Options 

This one might seem like a no-brainer, but it’s a simple truth – the more payment options you offer, the more likely you are to complete a sale. In particular, this is true for websites with a lot of mobile traffic, since it’s much easier to complete a purchase if it only requires a single tap on the screen. 

The most popular payment methods include credit cards, PayPal, Google Pay, ApplePay, WePay, and Stripe. 

7. Use High-Quality Images

People like to see what they’re getting, even when shopping online. That is why it would be wise to invest in high-quality photos of the product(s) you are offering. Make sure the pictures are showing off the item from as many different angles as possible. By all means, try to avoid stock photos since people tend to recognize those and shy away from products and services presented by stock images. 

8. Email Is Still as Powerful as It Ever Was 

In today’s digital landscape full of promoted tweets and Instagram influencers, it might appear that the good old email has run its course. However, that is not the case, as people still tend to see email correspondence as something more personal than their social media feeds. 

Translated to numbers, this means that roughly one quarter of the overall revenue comes from successful email campaigns. Create a mailing list, promote your sales or blog posts there, and get the ball rolling. Once you capture a customer, send them emails with promo codes and other incentives that will make them come back to your eCommerce store and spend some more. 

9. Use Social Media to connect with your customers 

If you have followed the previously given advice, by now, you should have a pretty clear idea of who your primary audience is and what makes them tick. 

Here is where your social media presence comes in. Use a common topic or interest that most of your users share to engage them and make them interact with you and with each other. By rallying them all around a common cause, you’ll be able to show your customers that you understand them and care for them, thus building their loyalty to your brand and store. 

10. Don’t Forget the Mobile Users 

Insiders Intelligence predicts that, by the end of 2020, mCommerce (i.e., shopping via mobile phone) will make up 45 percent of the States’ overall eCommerce market. This alone should be enough to urge you to create a site with a fast-loading mobile interface and a smooth shopping experience. 

An additional trick when dealing with mobile users is offering them a chance to shop using a guest account without spending any extra time on registration. Remember, when it comes to mCommerce, speed is of the essence. 

Conclusion 

As you can see,  a bit of human touch paired with a smooth user experience is what today’s eCommerce is all about. Try implementing these tips for an increase in your eCommerce store’s revenue.