How to Increase Sales/Revenue in an eCommerce Marketplace

Online marketing is getting more and more global these days. We are living in the future, and there’s no going back! eCommerce websites are becoming a place where we search for the best products and expect VIP services. But to keep the business running, an online marketer should have a clear idea of how to grow eCommerce sales.

Among the 4.54 billion internet users, the number of digital buyers might be 26.28% of the total population this year. Similarly, by 2021, it will be 26.8%!

So, eCommerce site owners should focus on targeting this massive wave of customers for growing sales. In this article, we have brought some tips to increase eCommerce sales.

Tips on how to grow eCommerce sales

Shopping online is a great relief for many of the customers. However, online marketers have to build a good relationship with online buyers to increase sales and revenue.

Here we have some ideas on how to grow eCommerce sales and revenues.

• Categorize the products
• Separate top-selling products
• Keep inventories on check
• Add eCommerce product tables
• Reach out to customers
• Easy checkout
• Affiliate program/cross-promotions
• Create a sense of urgency
• Images/videos
• Reviews
• Shipping costs
• Upsells and cross-sells
• The “Need for Speed”
• Discounts and coupons
• Social media
• Mobile-users
• Live chats
• Security
• Money-back guarantee

Categorize the products

If you are selling items of clothing, then you must focus on categorizing and placing them in the most user-friendly manner. For example, addressing products by specific categories.

• Summerwear

-Shirt

-Trousers

• Casualwear

-Jeans

-T-shirts

• Gym outfits

-Tanktop

-Sweatshirt

This format is more helpful for customers trying to find a specific kind of wear. Besides, this arrangement is a comfort for visitors and a way to let them know that you cater to their needs in detail.

Separate top-selling products

A customer will love if you add a separate section for your “Best-selling items”. It helps because some digital window-shoppers often aimlessly scroll around, while others don’t want to spend any extra time on the purchase. Such potential customers will go for these top picks right away.

Also, if they stumble upon your top-products after purchasing from the regular categories, won’t that be great?

Keep inventories on check

Manage your product inventory by updating the stock information, reordering, and shipping costs. You should pinpoint where your stock balances and prevents losing market share.

Improve inventory management the right way. Make sure stocks are meeting your customer demands, but don’t stock-up too much because that hurts your capital.

If you have multiple platforms, then check and update stocks on all of them.

Add eCommerce product tables

Product tables are visually informative and a more structured layout for an online store. A seller can organize all the products in a table with the necessary details.

eCommerce platforms like Shopify, Bigcommerce use tables to showcase maximum information.

Likewise, WooCommerce product stores display a grid-list of products for customers. But to get the optimum result, a product table layout is the best.

A quality table plugin can help you arrange and showcase your products in a well-ordered table structure. For example, a product table made by Ninja Tables.

You can add more data, short description, order by product category, stock, or price, and even throw in some colors to give it a more personalized look!

Online product tables are the easiest way to attract visitors and turn them into customers. You can check out our article on Adding Product Tables To A WooCommerce Marketplace.

Reach out to customers

Spend a good amount of time in acquiring new customers and, at the same time, keep your loyal buyers happy. Email and blogging outreach will get you visitors, and through proper engagement, they may turn into buyers. 

But most of your focus should be on the existing loyal ones who buy regularly.

Don’t misinterpret what we’re saying here!

Of course, getting more new customers is great. But proving your brand’s worth to new buyers is expensive.

On the other hand, current happy customers know your brand and buy without much hesitation. So, an online marketer’s goal should be keeping them satisfied and making sure they know that they are your top priority.

Come up with a customer loyalty program for them, so that they are encouraged to spend more time on your site. Also, keep up with email and blogging outreach to fish for new shoppers.

Easy checkout

You’d hate to have a long check-out process after your quick online shopping, right? It sure is a massive turn-off! Studies show that only 2.86% of online visits turn into actual purchases.

If your digital shop has a lengthy check-out process, you will lose potential buyers.

A shopper might only want the product and not want to sign-up for the site. Adding a mandatory sign-up process to buy, in this case, is counter-intuitive. You can add a “guest checkout” option like Apple does.

Affiliate program and cross-promotion

Get the word about your shop out there with an affiliate program. AM grabs 15% of total digital revenue, and almost 81% of brands rely on it.

To get high conversion rates, go for an influential program with high domain authority. This way, you can bring in some new shoppers and establish your position in the eCommerce marketplace.

Cross-promotion means hooking up with a non-rival business and helping out each other. For instance, an online foodshop can team-up with other dessert or drink shops to open new opportunities.

Create a sense of urgency

It may sound a bit mean, but it works like magic! Think of yourself as a shopper who is looking for a watch online. If you see a store is having a discount on wrist-watches and discount period and stock both are limited, wouldn’t you jump to your panic-buying mode?

Showing the stock quantity and the numbers of viewers currently looking for the watch will convince a visitor to click on the “buy” button. It’s a basic principle of digital-marketing. You can also set a “next-day shipping” option.

Images/videos

A clear and high-resolution image can be a high-point. You may have the best product in your web-store, but if visitors don’t get a good look at it, chances are you will lose their business!

Since online shoppers can’t physically see or judge the product, adding a quality image is a must. Check out some product photography tricks to learn more.

Reviews

Testimonials from your customers is a way of proving your brand. A hesitant customer will look for a product with good reviews and reviews on your excellent service. So, try adding images of actual reviewers to show authenticity.

To get reviews-

• Ensure a good product description, quality, and image.
• Make sure to add a simple purchasing note (i.e.- thank you for shopping with us) and a request to review.
• Offer store credits and get back to your reviewers (good or bad) promptly. Your modest reply to a bad review will show your great attitude towards customers.

Shipping costs

Shopping cart abandonment rate 2020 shows that 55% of online shoppers leave before they actually buy. Too high extra fees, for instance, the shipping costs and taxes, are the reasons. They might look for the product elsewhere with lower shipping costs.

So, what’s the solution?

• Let your buyers know the shipping cost upfront before they add it to cart.
• Provide an estimated delivery time range too.
• Offer free shipping to a new buyer or who reached a specific purchasing threshold.

Upsells and cross-sells

Consumers like to get recommendations for quality products. If you want to gain more revenue, up-selling and cross-selling are two simple ways.

Studies from last year show that 30-35% of revenue comes from recommendations. Use your buyers’ purchasing pattern data to show them top products that are also more profitable.

The “Need for Speed”

Performance matters. The last thing you want as an eCommerce business owner is having your consumers bounce away from your site because of slow-load.

If you don’t want to lose potential buyers, then check the speed of your site and make sure no page loads slower than 10 seconds.

Also, you should look into the loading speed on mobile devices because the number of mobile shoppers is growing faster.

Discounts and coupons

This is the simplest solution to sales problems! Customers love a handsome discount on a quality product and go through it to buy. Additionally, offering them a personalized coupon will increase sales for you too.

A customer will feel important if you send them a coupon and offer a discount on a specific product genre they like.

For example, if they keep visiting your site for a mystery-thriller book, give them a coupon with a discount on similar books. They will feel like they’re getting a good “deal” and a sense of reassurance.

Also,

• If they abandon a cart, give them a discount on that category.
• Make a quick scan to understand what they want.
• Suggest upsells after they purchase.
• Holiday and occasional discounts, stock-clearing sales, and new/top-customer discounts.
• Make sure to give “referral discounts” too. If buyers refer your site to another buyer, let them enjoy a nice discount.

Social media

You should use it as much as you can! Social media is a great start for online shops to grow. Be active on Facebook, Instagram, and Twitter, and reach for customers. Personally carry your business to them on their smartphones or laptops.

According to Shopify, Facebook visitors’ conversion rate is 1.85%, which is higher than Instagram’s 1.08% and Twitter’s 0.77%.

How to increase online sales through social media?

• If you place your business in the right spot at the right time, it is bound to hit the bullseye. So, you should know where to get more business.
• Interact with customers and reply to their queries.
• Use keywords, hashtags, reviews, and images/videos to promote.

Mobile-users

Recognize the customers who shop with mobile devices. Mobile shoppers can push to a $2.91 trillion sales in 2020! M-Commerce Statistics say that 49% consumers use their mobile phones for shopping. So, bag this audience to drive revenue!

An online shop-owner can learn from Target’s mobile-shopper exclusive deals.

Live chats

An impulsive shopper hates to wait for your answers. So, include a “Live Chat” feature to your website where they can contact you regarding the issues they are facing with your service.

Having an on-toes customer service is also a way of getting to know your buyers’ preferences and needs. Make your contacts visible and reachable so that a buyer knows they will get prompt service.

Security

A couple of years ago, the online retail fraud attempt was found to be 30%! So, these days it’s not just about growing business. It’s also about safety on both ends. Customers might become hesitant if your site doesn’t seem secure.

Make sure your site is “Secure” and display the security badge you use to make them feel safe. 

Let the visitors know that your site is trustworthy, and their information (passwords, email, or credit card details) is safe with you. They’ll love that you care.

Money-back guarantee

If you are confident, then bet on the best! Offer a money-back guarantee and free trial to your customers. They will appreciate the possibility of getting a refund in case the product doesn’t work out for them.

If you have a store return policy and promise them your guarantee, they will love to come back again.

A 100% satisfaction guarantee by Inkd, Cutco’s “Forever guarantee”, and Amazon’s “Lowest price guarantee” work out pretty great.

The bottom line is, quality, price, and service guarantee offers will keep your buyers happy.

There’s more…

Try out some other ideas on how to increase sales.

• Different payment methods.
• Sell varieties of products.
• Use the “Decoy Price” trick.
• Follow-up emails and push notifications.
• Retargeting
• Giveaways

Wrap-up

We kept this article as compact as possible. Using all of these 19 tips and 6 extra hacks on how to grow eCommerce sales, you will definitely get a good result.

But remember, the eCommerce market is wild and highly competitive in this digital era. So, you have to be on your toes always!

In 2021, the number of digital buyers is expected to hit a whopping 2.14 billion! Keep this number as a target and stride with unique ways to increase sales. Don’t forget to let us know how this article helped you in the comments below.

The post How to Increase Sales/Revenue in an eCommerce Marketplace appeared first on WP Manage Ninja.