Whether you’re the new kid on the block, or a stalwart eCommerce store, you’re driven by one key factor – turning browsers into buyers.
Sounds easy right? You’ve got a great product at a good price point with a slick new website, so it should be raining sales. If it only it was that easy. Sadly, there’s no silver bullet when it comes to suddenly ramp up revenue. Building, growing and scaling your eCommerce store is all about knowing which levers to pull and when.
Here are 4 ways to hack your way to higher revenues:
No one wants to miss out which makes the fear of doing so, a great motivator. Learning how to leverage FOMO can be a powerful way to increase conversions and reduce cart abandonment. A word of warning though – it needs to be genuine and subtle. Blasting prospective customers with urgent messages and countdown timers can have the total opposite effect. Think of using FOMO as a gentle nudge, not an aggressive shove.
Scarcity sells but use it cautiously.
Embedding timers into product pages can also be a compelling kick up the butt. Consider using a countdown to let shoppers know they have limited time to complete their order, take advantage of an offer, secure stock, or qualify for same or next-day delivery. Whatever metric works for your store, make sure it’s sincere. If you keep showing people you’ve got low stock, they may hesitate about coming back.
Listen To Your Customer
This might sound like a given, but for most retailers, it’s not. Many brands are preoccupied with revenue, and they’re ignoring the customers that contribute to it. These days competition is fierce; if we’re not in tune with our customers, we risk losing them. Interactions with your online customers should be two-way; when they talk, you need to listen. When a customer asks a question or posts feedback on social media – answer it immediately. This shows you’re engaged and customer experience is your top priority. Live chat can also be a great way to engage potential customers and help get sales over the line. Being online doesn’t mean you’re invisible – you wouldn’t have an unmanned retail store, so the same goes for eCommerce stores.
If you look at your inbox, it’s safe to say – we’re hitting saturation. The sea of salesy coupon codes and endless, limited offers shows eCommerce email marketing plays an influential role in boosting sales. But the reality is, most online retailers focus so much on selling that their campaigns are falling on deaf ears. Take a step back, put yourself in the user’s shoes and ask yourself if what you’re sending is useful and enticing. As painful as the process may be, take the time to segment your database. Sending the right email to the right inbox can see a dramatic ROI. A customer has subscribed to your email list because they’re interested in what you have to say, so use that opportunity as a direct line to convert.
Shake up your strategy and get creative with your campaigns. The bottom line is, not only do people want more engagement, they expect it.
When was the last time, if ever, you mystery shopped your online store? Without realising it, you may be making life harder for your customers and hurting your revenue. The easier it is to purchase, the more sales you’re going to make. Never rely only on system templates and page layouts to dictate your customer experience. Put yourself in your user’s shoes and take a critical look through every aspect of your site.
To get a customer’s perspective on your site, ask yourself:
- Does my website have a flow?
- Is the checkout seamless?
- Do I have to create an account before making a purchase or can this be integrated into the checkout process?
- What can we improve?
- What are your competitors doing?
- Is the site mobile friendly?
- Are your shipping options comparable?
- Is your returns process seamless?