As someone who is in the ecommerce field, you are always on the lookout for new ways and strategies to ensure higher sales rate. Whether you’re new or not, boosting your ecommerce sales rate will be beneficial. However, businesses go through highs and lows. It happens to the best of us. If you are looking for new techniques and ways to boost your revenue, you are in the right place.
Here are three solid ways that will work for your ecommerce business.
Cross-selling is one of the most known and easiest strategies to implement to increase your ecommerce sales volume. However, keep in mind that cross-selling should only be used when a business truly believes that a certain product goes perfectly with another product. Amazon uses cross-selling by offering bundled products, which you will often see in their ‘Frequently Bought Section. Sometimes you may notice that a certain product can be used in a novel and creative way. If you are OK with mentioning an alternative use of the product, then it might be ok to cross-sell a product to a seemingly unrelated one.
Upselling is the strategy used to get the consumer to spend more through upgrades. Most people are enticed by discounted products, however, make sure to offer products that have better quality but are not as cheap as the one they intended to get. If you’re selling laptops, upsell a larger hard drive capacity; if you’re selling a per-hour service, upsell by offering a discount for more hours of work. Note that upselling won’t always generate larger ecommerce sales volume, but it will increase revenue.
Both upselling and cross-selling, when done right, can do wonders for a business’ ecommerce sales and revenue. However, you have to ensure that you know your products like the back of your hand. This way when you are encouraging your consumers to spend more, they would see that you know what you’re doing.
Action Step: Make sure to thoroughly and quickly review your product or service list. Look for products that would work together. Also decide if you should upgrade your existing products with newer versions for upselling. Giving people more options is an excellent example of upselling. Take Spotify for example. It offers two options – Free and Premium. Most people signup for afree account but will soon forget it and move on Premium for a small price. There are many compelling examples of upselling here.
2. Make the Checkout Process Simple and Hassle-Free
We all have encountered different ecommerce shops and complex checkout pages with unattractive processes. This is why a simple and hassle-free checkout process is essential for any ecommerce business. Don’t give fully decided customers a way out by having a complicated check out process.
As much as possible, keep your sign-up fields limited to email addresses and passwords. If possible, eliminate the sign-up field and allow for guest purchases and checkout. Taking away unnecessary steps for your potential client to reach their desired product will help boost your ecommerce sales. If you want to see a site with a nice, smooth checkout process, Homedepot.com is seamless. It has implemented the best UX/UI practices from clear instructions to live chat option that provide a fantastic checkout experience.
However, this step comes with a very important consideration: you must understand the nature of your business and determine how important lead generation is to your sales. Learn when you should reduce or eliminate your form fields, or when you should gather more information. Note that it talks about fields on sign-up forms instead of checkout forms, but remember that as your clients are checking out, you don’t want them to be asking “why are they asking for so much information if all I’m going to do is buy their product?” Using social media sign-ins like Amazon, eBay, and a lot of others provide an excellent alternative for easy login.
Action Step: Put yourself in your customer’s shoes and try the online checkout process. Determine where you encountered unnecessary hassle and eliminate those factors. This will help you understand not only your system but also your consumers better.
3. Think Beyond the Site with Email Marketing
Once a consumer has finally placed an order, brands and businesses usually think that the job is done. If you’ve successfully implemented the previous method of reducing form fields to only the bare essentials, chances are your customer has left you their email address. This is the perfect opportunity to keep reaching out to your loyal customers.
This is also an opportunity to build retainment of customers through email marketing. You can do this by utilizing email marketing as a way to keep in touch with your loyal customers. Emails make an excellent way to keep your customers updated about your products, discounts, new arrivals, and more. With this, you can make sure they still contribute to your ecommerce sales.
Action Step: Make two email lists: one is a list for existing customers who have already bought your product, and another for potential clients who have visited your site but left without a purchase. People spend nearly 30% of their workweek checking emails. That makes it more likely for them to see your email about new products, discounts, and sales.
Use that chance to entice them to go back to their carts and complete the transaction. A good example of this is the use of urgency in your email strategy. In the case of UncommonGoods, they make the CTA more persuasive and appealing with an action statement like “Buy today before stocks run out!” More examples of how email can increase your sales are found here.