Top 8 Ways to Grow Your E-commerce Revenue

Running an online business is not easy. It’s tough starting because you have to carve a niche for yourself. Thankfully, technology has made things easier. Chatbots, pricing tools, cloud computing, and progressive web applications (PWAs) are some of the latest technologies being employed in the industry to automate, optimize, and streamline processes.

Growing your revenue as an entrepreneur is not rocket science. It’s pretty simple. What you need is dedication, consistency, and a good strategy. Many studies have shown that online shoppers have continuously increased over the years. By implementing the tips in this article, you can leverage the growth in the industry to increase your sales.

Invest in Search Engine Optimization (SEO)

No matter how good your product or service is, if you’re invisible online, your e-commerce business will fail. If you can’t do it yourself, hire an expert to set your website straight and optimize it for search engines.

Including a blog section on your site is also important because it increases your reach and positions you as an authority in your industry. Search engine marketing is another option you can equally leverage to get your business in front of more people. When investing in SEO, ensure you hire professional writers who value quality more than anything. Prospect customers can always tell the difference between poor content and high-quality content.

Build an Email List

Email marketing is one of the most underrated forms of marketing. It can help you build rapport with your customers and ensure they don’t miss out on exclusive deals. Pop-ups that offer free newsletters, special discounts, and promotional offers are a great way to get people to give up their emails.

You can use audience-specific email lists and personalized greetings to improve your marketing campaigns.

Create Special Offers and Discounts

Special offers and discounts are an excellent way to attract new customers and retain old ones. You can offer discount coupons, free shipping on orders of a certain amount, and other incentives to get people to make purchases.

You should include a sense of urgency to make your offers more effective. People are more likely to make up their minds quickly when they know an offer is limited and expires soon. No one likes to miss out on amazing deals, so this is one sure way to generate more revenue.  

Offer Referral Rewards

A referral program is a great way to appreciate loyal customers and get them to spread the word about your business. The reward can be monetary or non-monetary. A referral can also be double-sided —in this case, both the referrer and the person referred are rewarded.

Offer a Money-back Guarantee/ Free Trial 

Assuring prospective customers that they’ll get their money back if your product isn’t what they expect is a good way to establish trust and get them to buy. It also shows that you’re confident enough in the quality of your product that you’re willing to bet on it.

To protect yourself from fraudulent customers who’ll try to take advantage of your business, hire a lawyer to help you draft a money-back guarantee policy. 

If you’re selling a service, free trials are equivalent to money-back guarantees. Free trials help customers decide if they want to pay for a service or not. If the service you offer is good enough, most people will pay to continue using it when their free trial expires.

Upsell

If you’ve ever ordered a dessert because the waiter proposed it or upgraded your soda at a restaurant because a bigger one was on offer for only a few bucks more, then you have experienced upselling firsthand.   

Upselling is simply offering your buyers other products they may find useful or a better deal. It is effective because the customers usually targeted are repeat customers who already know and trust your brand.

Be Transparent

Lack of transparency is one of the main reasons why people feel reluctant to buy online. There’s nothing more irritating to customers than hidden fees. Let customers know the total amount they’ll be paying upfront, including shipping fees and taxes.

Craft Compelling Product Descriptions

A good product description is an invaluable ally if you want to increase sales. A product description should be written in a tone that appeals to the target customer —funny, casual, direct, etc.

A good product description should cover all the essential features of the product. When writing a product description, use sub-headings, bullet points, and a legible font to make it easy to read.

Conclusion

Increasing your e-commerce revenue is a process that involves constant learning. To avoid getting overwhelmed, you should implement the strategies one at a time. You can start with the more essential ones like Search Engine Optimization and building an email list before moving on to the others.

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