Guide: 5 Simple Ways to Boost Your Online Sales Revenue
Have you ever seen your analytics reports and noticed that your store is not making enough money? How did that feel? It must have felt pretty bad. In those moments of desperation, you would probably do anything to increase your store’s revenue. What happens next is quite common: you start looking for different ideas about it how to increase your earnings, but don’t find anything useful. The truth is, it is quite difficult to find simple tactics you can use to increase your earnings. Sure, implementing a $ 100,000 PPC campaign can help, but it is not simple or realistic for your needs. That’s why I want to show it to you in this post 5 Easy Ways to Increase Your Ecommerce Store’s Revenue today. This one tips are so simple, you won’t have an excuse not to take them into action to improve your store. Ultimate Guide according to setting up your first online store Do you have what it takes to dive into e-commerce? An easy way to build your own online store
1. Add relevant upsells
First of all, an upsell is a sales technique where you offer your customers the opportunity to purchase upgrades (better features, better specifications, more volume) or to get the more expensive version of what they buy, so you can maximize the value of their purchase (higher price). To add relevant upsells to your store, there are four important things you need to do: List all the products you sell Separate those products into two lists: the regular and the expensive Connect the better products to the regular Talk to a developer to add a section to your product page, where you can leave your upsells see Depending on the ecommerce platform you are using, you can skip all these steps and add a plugin that will do this for you automatically. For example: Product Upsell bought by Shopify, OpenCart’s also bought and Magento’s offering, Automatic Cart Upsells & Cross-sells. So you’ve found what you’re looking for, but wait, when you scroll down you’ll see the following upsells:
And more:
You will notice that in these two cases not every product is more expensiveIn some cases they even add cross-sells (see next point). That’s fine. What this says is that you don’t have to show your upsells and cross-sells separately; you can use them together to have a greater impact on your sales. The key is that you must offer items that can add value or improve the user experience of your client. Because once you add your upsells to your website, it’s just a matter of waiting for them to take effect. Of course, you should check how they are performing daily or weekly. Also, the best thing to do before starting your upsells is test them first Make an A / B test, where in the A version your store is the same as normal, and where the B has the upsells. If you see a decrease in the average order value or conversion rates in the B version, don’t disclose your upsells. On the other hand, if you start to see larger average order values and earnings in the same version, publish it and start making more money. Read further How to Upsell To Your Customers How To Boost Ecommerce Sales With Upselling 3 Simple Things You Can Do Today To Increase Your Sales
2. Include timely cross-sells
If upsells are upgrades and more expensive versions of a product that a customer buys, that’s a cross-selling gives options for add-ons Adding cross-sells to a store is a more difficult process than adding upsells because There are many ways to choose which products to cross-sell For example, an online store that sells sneakers has many cross-selling options to choose from, such as socks, laces, jeans, other sneakers from the same brand, similar sneakers from other brands. But just because it’s difficult doesn’t mean you can’t. If you want to add cross-sells to your store, I give you two recommendations: Take the time to adapt the upselling steps I mentioned earlier to cross-sell (be patient) Depending on the ecommerce platform of your choice, buy and install a cross-sell plugin, for example: Cross-Sell by Shopify Cross Selling on Cart by PrestashopAutoResponder Max by Volusion As with upselling, it is the key to effective cross-sells adding value to the customer’s life – think about the customer first before proposing cross-selling. Read further Cross-selling Tips for online retailers
Determine your best selling products
Do you really know what your best selling products are? You may think this is obvious, but it usually isn’t. Knowing what your bestsellers are is essential because it helps you better understand your customers, and most importantly, it allows you to know what you should be selling more of. To see which are your top selling products, go to your Google Analytics account and go to Conversions> Ecommerce> Product PerformanceIn that report, you can choose to sort your products by units sold and revenue, among other statistics. Once you know what your top selling products are, it’s just a matter of selling more, either by setting them up up paid advertising, upsell, and cross-selling, among other strategies. Because knowing what’s selling the most is the best way to know what you’re doing should keep sellingIt also helps you understand your customers better Read further: 5 Improved Ecommerce Reports You Need to Understand Now Google Analytics Tips: 10 Data Analysis Strategies That Pay Off!
4. Test your CTA
Testing is a great way to increase your earnings because it takes a specific element of a page and it shows if a change to that element can help you increase your conversion rates. If so, you will get more income. If you don’t, then you don’t. You can test many elements of a page, such as: The structure of your site The structure of your product page Your checkout process The copy of your product However, I specifically say your calls-to-actions (i.e. the buttons which your customers click when they want to buy your products) because it is the easiest to test and increase your revenue. Also, testing your calls-to-actions (aka CTAs) is a fairly straightforward process. More open source ecommerce shopping carts More beautiful and responsive WordPress ecommerce themes More shopping cart UI designs
- First of all, develop a hypothesis that you want to test, such as “I think if the color of the CTA changes to blue, the contrast increases, which increases the CTR (click-through rate).”
- Create an action plan to test those hypotheses, defining the tasks that must be performed before your tests are effective. For example: Step 1: sign up for Optimizely. Step 2: Develop the A / B test in Optimizely. Step 3: Run the test for 2 weeks, or until statistical significance is reached. Step 4: Analyze the results.
- Run the test.
- Finally, analyze the results. If the newer version (the B version) has increased your conversion rates, keep it. If not, then reject it. (Although testing is a complex topic, I don’t want to complicate things more than they are. For your needs, you should actually know this.) There are three things to test in your CTAs: The copy of your CTA (e.g. ‘Buy Now &’ vs. ‘Add to Cart’) The size of your CTA The positioning of your CTA (to the right of the image, below the description, etc.) Because testing is a simple process: come up with a few hypotheses per month, implement the tests on your site using Optimizely, wait a few weeks and boom, you have increased your income. Of course, tests can fail, so if they do, don’t panic. In fact, I would say most of them will, especially if you are first starting out. Keep doing it until you find a winning formula. After a while, you develop a sixth sense about your customers and start to know which things are likely to increase your conversion rates. Read further: Call-to-action buttons for e-commerce: 10 practical tips A / B Test Ideas for Ecommerce Call-to-Action Buttons 11 Ways to Improve Your Call-to-Action
5. Add better product images
What is the one big advantage offline shopping has over its online counterpart? The touch and feel of the product. If I had to choose one serious perk of offline shopping, it’s that I can see, feel, touch, smell (yes, it sounds weird, but hey, I’m not judging) the products, and even the products fit. The closest thing to that experience online is the product photos and things like: Different angles Zoom In Product test or in action A video A 360 degree view of the product Of course, don’t forget to take the pictures looks professionalThings like lighting, filters and custom accents make a huge difference when it comes to making a product look good. That’s why it’s important to always opt for professional photos instead of taking a do-it-yourself solution. If you can’t afford a professional photographer, try what Richard Lazazzera did with his own shop. By adding additional images (2 or 3), your customer can use the final push to buy a product. Every time you add or change something to your store, think about what it will mean for your customer. Competing with offline stores is difficult. Make your customer’s experience as seamless and simple as possible. Read further Enhance Your Ecommerce Design With Beautiful Product Photos Why Presentation And Context Are Critical For Ecommerce Product Photos The Ultimate DIY Guide to Beautiful Product Photography How to take beautiful product photos Have you ever tried any of these 5 ways I talked about in this post? If so, what was your experience? Share your answers in the comments below. Editor’s Note: This is written for Hongkiat.com by Ivan KreimerIvan is the Growth Marketer at Receiptful, an API that allows you to send beautiful email receipts that help increase an ecommerce store’s revenue using targeted marketing messages and upsells.
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