4 Tips For Boosting Your eCommerce Store’s Revenue
Almost every eCommerce store wants to boost their revenues, but not all of them know how. After all, this is a competitive industry in getting your name out there and up against those who can afford multi-million dollar marketing campaigns. Fear not; while you may not have an extensive budget, there are plenty of ways to boost your store’s sales without breaking the bank. Here are a few tips on how:
Invest In SEO
A pretty significant way of boosting your eCommerce sales is by looking into SEO. If you’re not familiar, search engine optimization is the practice of trying to rank towards the top of a search, such as Google or Bing. This is one of the most significant marketing practices out because as noted by Junto Digital, 93 percent of online experiences begin with search, which as the first thing many of us do when we want to learn something new is pull out our phones, the results make sense.
In constructing an SEO strategy for your eCommerce store, one of the first things you need to consider is the type of items you sell that might be uncommon or in a niche environment. The goal here is to be specific, for example, if I specialize in camping gear and have a low price for bear-proof coolers, then owning the search term “bear-proof cooler” might be somewhat advantageous. Brainstorm what type of search terms (keywords) you might find it worth investing in either in your content or AdWords, as SEO is a top-tier practice for inbound.
Create Action Via Social
Another vital practice to consider in boosting your eCommerce store’s revenue is being able to drive traction from creating action on social. In other words, being able to implement more call-to-actions within your posts can be an excellent strategy for driving more revenue towards your store. While you might think this is somewhat of a ‘spammy’ or pushy method, that couldn’t be further from the truth, as a lot of top brands promote quite a bit and have a great relationship with their customers. That’s because they found which mediums work best for their brand.
Considering that you’re an eCommerce shop, the primary mediums you should check out are Instagram, Twitter, and Facebook. The visual aspects you’re trying to display are crucial, which is why Instagram sales are your strongest options. Not only is there direct buying features within Stories and posts (“swipe up” to learn more), but it is also a platform where approximately 80 percent of users follow a business. Your objective with social should come two-fold: establishing and growing relationships with your audience, while finding direct routes to monetize from your followers.
Flash Sales Are Your Friend
Although not always a favorite amongst eCommerce shops out of fear of losing inventory, flash sales can drive traffic like no other. In fact, according to Social Marketing Fella, 56 percent of businesses have a higher click-thru rate from flash sale emails compared to their yearly rate, which goes to show how their true popularity. However, a lot of eCommerce shops are afraid they’ll lose money on items nearing the end of their shelf-life, that doesn’t necessarily have to be the case.
It’s true that a primary reason people use flash sales is that they’re great for getting rid of old inventory; however, it’s the strategy you place around that which can help be more successful. For example, if I have some jackets I’m willing to let go for 50 percent off but also know that if I put up a popular t-shirt for 25 percent off, I’ll have a higher chance of roping them in with the t-shirt while hoping they close on the jacket. Packaging your sales together between incredibly popular items or staples versus the things that didn’t sell well can be an advantageous route to go, and one of the many ways that you can have a solid flash sale. Brainstorm a few strategies you might be able to implement here, as this can help quite a bit in cycling through your sales seasons.
Always Be Improving Customer Service
Finally, if there’s one aspect that will always help with sales no matter what, it’s creating a great experience for your customers every time. From being prompt with sales calls to handling a return quickly and efficiently, a great customer service experience is vital to increasing the number of customers you have, because as noted by Help Scout, after a positive experience with a company, 77 percent of customers would recommend them to a friend. Having a positive word of mouth about you like that is one of the most surefire ways of gaining more of a foundation long-term.
What are some strategies that have boosted your eCommerce store revenue? Comment with your answers below!
