The Secret to Boosting Ecommerce Revenue - 7 Smart Tips

1. The Secret to Boosting Ecommerce Revenue 7 Smart Tips

2. Overview Managing an ecommerce business can be a lot harder than it seems, especially when you take into account the vast amount of e-commerce websites out there with which you are competing. Whether you are just embarking on your ecommerce journey, or your business just isn’t seeing the revenue growth it used to, you are probably thinking what you can do to set yourself apart from the competition and boost your sales. If you are having trouble finding new ways to get more customers and increase revenue, the experienced ecommerce development specialists at Helios Solutions provide top 7 tips to increase your ecommerce revenue. OVERVIEW

3. 7 Smart Tips to Boost Ecommerce Revenue

4. Tip #1: Harness the power of influencer marketing Influencer marketing refers to the marketing practice in which brands collaborate with individuals who have strong influence over audiences/prospects the brands want to reach. It’s high time to take advantage of influencer marketing by developing strategic partnership with celebrities or industry experts. Ultimately, these key people take on the role of influencers as they can pull large number of potential customers. A 2019 survey by The Influencer Marketing Hub (partnered with Viral Nation and NeoReach) emphasizes how influencer marketing can be highly lucrative for those brands who engage in it. The survey reveals that businesses make $5.20 for every $1 spent on influencer marketing.

5. Tip #2: Participate in multi-channel selling In a recent survey, Stitch Labs, an inventory management software firm, found that retailers who sell on even just two different online stores observe a 190% jump in revenue over those who sell in just one. Of the organizations surveyed, almost 75% feel that using a multi-channel system has increased sales, 64% feel it increased customer loyalty, and 62% feel it gave them a competitive advantage. You can get the most out of your ecommerce store by diversifying across internet. Although managing different channels can be challenging, but once properly integrated, it can give a significant boost to your revenue.

6. Tip #3: Put efforts in converting prospects rather than attracting them Do you put efforts just to increase web traffic? This is a grave mistake because it is meaningless unless and until your web visitors perform the action you actually want them to perform. Therefore, you must equally put efforts on turning your visitors into customers. Nurturing is what you can do to move a prospect down to your conversion funnel, turning a window shopper into a cash-paying consumer. It could be done in many ways like providing offers, developing pages that have rich UI elements etc.

7. Tip #4: Never ignore your business branding Always keep in mind that you should never let your customer get confused about who you are and what you do. Your branding has a direct impact on your revenue – and that is down to how your prospects / potential customers see you. If your overall look doesn’t appear credible or high quality, it could affect whether people choose you or one of your competitors. As a leading ecommerce development agency, Helios Solutions suggests you to rethink about your logo, website, and customer communication medium in order to improve your branding.

8. Tip #5: Build customer relationship that lasts Nothing is more important than establishing great customer relationships in business and ecommerce is no different. If you can solve the pain points of your customers through your website or provide value to them with your content, then your customers would love to visit your site. Charlotte Lynch of Modern Retail says “One way to get more web traffic [and engagement] is having a blog and offering your customers help rather than just a sale.” For example, if you sell mobile phones through your e-store then educational blog posts on latest mobile news, reviews, unboxings, etc. would be really beneficial for your customers. They would come back for consuming more content on your site and eventually buy from your site.

9. Tip #6: Put efforts in improving your ecommerce store's security Consumers often share critical information while making online purchases from your store. It is important that you guard this data. If your ecommerce site gets hacked then there is a strong possibility that you get ruined for life as consumers never like to get robbed of their credentials and personal details. Therefore, it is wise to secure your website and payment gateway by implementing SSL certification. David Decorte of Chargebacks 911 suggests, “Merchants should look at other ways to increase security and defend revenue streams which won’t impact conversion, such as chargeback mitigation, better reporting, ensuring MID health and reducing operational costs.”

10. Tip #7: Use Video Marketing When people shop online, they take extra steps to ensure that the product they want to buy is the best. Because they can’t see the product up close or hold it in their hands, they need reassurance and detailed information that convince them to make a purchase. Here’s where video marketing comes into play. Video marketing provides people with the opportunities to have a better look at the products they wish to buy. The benefits of video marketing are better explained by MiljanaMitic of GoodVidio. In her words, “SEO-savvy ecommerce marketers use rich media to attract visitors. One such example is videos, which on average lead to 157% more organic search traffic.”

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