You can be very happy that your dream of establishing an e-commerce company has been fulfilled and is up and running. But if you have thought that it was the ultimate challenge and you have overcome it, then you are wrong. You should always strive for maximum profit and that cannot be achieved without store optimization and coming up with the right strategies to attract customers.
One way to improve income is by generating new business. But there is much more you could do for your existing customers than this. Here are some ways to increase your sales, especially through the online mode.
- Delete abandoned carts – Did you know that of every 100 customers who visit your website, between 50 and 60 percent will leave their shopping carts? This is one of the most common causes for e-commerce businesses to suffer and miss out on potential revenue. There are many reasons why shoppers abandon carts and one of the main ones is additional fees and high price. If they can find the same products at a cheaper price elsewhere, they will buy it right away. There are several ways to stop this and one of the most effective ways is to keep track of emails. You can opt for a simple automated sequence that starts by reminding customers what they left in the cart, using great headlines and attention-grabbing text and photos. You also opt for discount codes and also keep your items, especially if your stock is low.
- Upsell and cross-sell products – Feature-related products have become the new trend of this platform. Upselling is the art of encouraging a buyer to buy a product similar to the one he intends to buy, but with a higher margin or higher selling price. Cross-selling, on the other hand, is the process of encouraging customers to buy complementary things with the item they intend to buy. This process is mainly carried out on the product details page during the checkout process. You can use sales affinity data to encourage shoppers to add items to their shopping cart, thereby increasing your purchase value.
- Slow moving items must be closed – Products that sit on your shelf for a long time and sell slowly can slow down business growth and reduce cash flow. This is why traditional retailers have clearance candles. And for the same reason, clearance sales are also vital for e-commerce. These should include those items in inventory that are perishable, are in season, sell less each quarter, have been replaced with a newer version or model, or have not sold online in a month or more. Try offering these items at special prices on your website.
The above are some of the ways you can boost the sale of your eCommerce business. Always stay up-to-date and take advantage of the latest technology so you can stay ahead of the rest in the industry and stay on top of your game.