Seven Golden E-commerce Profitability Tips for Elevated Sales

by Ereeqa Toheed 9 min read
Want to improve your e-commerce stores profitability? We are about to share 7 golden tactics to help you generate more sales.

In today’s technology driven consumer world, having an eCommerce store is a great plus for your business. But if your eCommerce experience as well as performance is not up to the par, you might not reap the same benefits from it as others in the market.

Staying on top of your eCommerce game is pivotal to the success of your business. In order for your eCommerce store to give you your projected ROI, you must have a firm grip over the art of marketing your products, building customer-seller relationships, and the seven golden rules we are about to examine.

With the fierce competition in the eCommerce industry, securing a prominent place in the highly competitive eCommerce market is a daunting task, but with the right tips and tricks discussed below you can increase your profitability as well as manage to scale your online business at the same time. 

Let’s dive in.

Why do you need planned strategies for e-commerce marketing?

Think of it this way, you want to construct a building but do not have a blueprint. The blueprint serves the purpose of structuring the building and planning how to execute your endeavors. 

In the same way, in the world of e-commerce, the blueprint is your planning strategies. If you have not strategized your way towards establishing a thriving e-commerce business, the likelihood of its success is lesser than you can imagine.

Planned strategies for your e-commerce marketing can help you lead the way with confidence and give you a 90% success rate. They can help you navigate through the challenging waters with visibility, confidence and control. With the right eCommerce strategy in place, you can have a good start and maintain a steady performance without having to employ extra measures to increase profitability. 

Make your customers your priority:

A business that offers good customer services and is known for personalizing the shopping experience of its customer is bound to thrive. When it comes to being an exemplary seller, you need to be observant of the needs and wants of your customers. Your customer must be your main priority. 

Keep your customer engaged and make them feel heard; if you are facing a terrible review problem, reach out to the reviewer and offer them a meaningful explanation and discount.

Detailed feedback and reviews can build a loyal customer community and brand awareness. Your goal must always remain the satisfaction of your customer. 

While working on making your customer's purchasing experience incredible, you must remember that a fraction of people do not like to buy from online e-commerce businesses because of fraud and data security risk. e. 

To give your customer a sense of security, you can get professional services for your website and servers such as Webx, that provides you with a secure, efficient, and high performing eCommerce platform so you can sit back and  relax that your customers are getting a great shopping experience

Offer your customer multiple benefits:

When running your e-commerce business, develop your strategies while putting yourself in your customer's shoes and thinking from their perspective. Every customer appreciates being treated nicely and given the privilege of having the upper hand in negotiations. If your customer is making a big purchase(B2B), let them negotiate a little on prices, don't go overboard, but try to make a loyal and lifetime customer out of them.

Online shoppers adore free shipping, and the lack of this benefit is why most customers abandon their carts and don't make the purchase. If you can afford free shipping, then it's an add-on benefit for any customer while making a purchase. According to research, 93% of people are prone to making a purchase when given free shipping; with these simple yet profound tactics, you can attract more customers to your e-commerce website.

Discounts and coupons are also a sure shot way to ensure your customer ends up at the last stage of the sales funnel. Another very effective way of promoting your products is getting social media influencers on board to spread awareness for your brand and generate referral discounts too.  

An excellent eCommerce Marketing Strategy

A strong Search Engine Marketing Strategy will help improve your SERP rankings, which means you will be on the first page of search results when a customer is looking for a similar product. To be on your way to increasing sales, you need to be recognized and in touch with market trends. Planning out your e-commerce marketing strategy is a crucial yet fulfilling task. Here's what you need to do initially: 

  • Define Marketing Goals:

Defining your eCommerce marketing goal is crucial; you must know what you are planning for beforehand. Your objective should be both measurable and achievable. Go ahead and write down everything you expect from your business and the e-commerce platform you have chosen.; This way, you will get clarity of things and be able to determine your realistic goals.  

  • Determine Sales Strategy:

After you are clear about what you want, it is time to plan how to do it. Determining your sales strategy is your planning stage. You must know which market you are targeting and how your competitors are doing the job. Knowing how things are working in the market will help you gain perspective and knowledge which in turn, will help you pickyour audience, observe their likes and dislikes, build brand awareness, collaborate with social media influencers to attract customers, and advertise your products the right way. To boost your revenue, we have some tried and tested methods that work. 

  • Offer discounts and coupons.

  • Offer a money-back guarantee. 

  • Upsell your products. 

  • Make the customer experience easier with technology. 

  • Focus on Remarketing

Marketing is not a stagnant process; therefore, you must constantly test and estimate what is working and is not yielding results. What functions are most promising for your online business should be used repeatedly until their effectiveness dies down or yield poor results If you have the relevant performance metrics defined in your marketing plan, you can efficiently filter out what is working and what must be enhanced.

The seven golden tips:

Following are the seven golden tips to help you improve profitability from your eCommerce store:

  • Design a user-friendly website:

Designing a website for your e-commerce business can be fun and easy if you pick the right platform. There are platforms such as Webx that provide you with easy admin access and customization. Setting up your e-shop is easy when you have all the tools and techniques available through one platform. All you need to do is pick the right plan according to your necessities and start your journey to a profitable e-commerce business. After you have access to your admin front, design your website keeping the ease of your customers in mind, the more attractive and comfortable to use the website, the more sales you will generate.

  • Set target audience and develop customer loyalty: 

Targeting the right audience in the initial stages of launching your e-commerce business is essential to the long term success of your business. You can advertise and promote your e-commerce business and build a community through social media platforms. By sharing content on your social media platforms, you can garner customer engagement and enough traffic on your page to start routing it to your website. The more your social media content gets an impression, the higher are your chances of getting more visitors and followers. You can share relevant content about your brand every now and then to keep your customers interested. 

  • Provide more innovative paying options:

Every customer enjoys the freedom of paying the way they please. The more options the customer has to pay, the happier they will be with your service. A satisfied customer not only considers your brand more than once, they might also spread the word about your products or service amongst their peers, thereby extending your customer base. 70% of customers abandon carts if they don't have the payment options according to their liking. Offer your customers smooth checkout by coming up with more intelligent payment options and keep them coming for more. 

  • Upsell and Cross-sell:

Upsell is a sales method of offering your customer a slightly high-priced version of the product they are interested in.On the other hand, cross-sell is where you suggest comparable products to the product selected by the customer. 

The greatest goal of an eCommerce shop is to provide the buyers with the most satisfactory products and improve your profits simultaneously. And what better way to achieve that  than by Upselling and Cross-selling to convince the buyer to add more value to their cart without them knowing it. The most profitable approach is to work on the customer's impulse, where they are most likely to listen to your recommendations.

  • Create a compelling push strategy:

Push notifications on mobile and web are a default component to interact with users day-to-day. Push notifications have gone beyond just email notifications, they have become a terrific marketing tactic. Here’s what they seem to do:

  • Decrease cart desertion rate by pushing out messages that form a feeling of urgency in the customer.

  • Induce location-based messages to provoke the patrons to check out the store in their vicinity.

  • Prompt Wishlist to allow the brands satisfactorily comprehend what their clients are looking for and then produce just that. 

  • Offer better deals and discounts than competitors: 

Always stay updated off the market trends and prices to leverage the advantage of tweaking, adjusting and creating innovative ideas to attract more customers and get an edge over your competitors. 

Get reviews and customer testimonials: 

Customers will review your product when they are most satisfied with your services. Always treat every customer like royalty and encourage feedback, this way, you learn more about your customer base and how the public perceives your products and services. Most customers purchase items based on reviews; the better the reviews on your e-commerce website, the more customers you will attract.

Conclusion

Everyone wants to increase profits on their sales in the e-commerce market. Profitability is the primary challenge that every eCommerce store has to encounter or has already. Whether its offering discounts to your customers, enhancing their shopping experience by offering help in the form of captivating product photography, compelling product description and detailed information about the product, to ensuring a hassle-free checkout process with lesser forms to fill and more options of payment to choose from.

Your eCommerce store’s performance and success is largely dependent on the experience of your customer. The better and more memorable experience they have, the greater are your chances to succeed and make more profits.

FAQ

  • How to maximize e-commerce profit?

To maximize your e-commerce profits, you must build a sales strategy for your e-commerce business. Learn how marketing helps elevate sales through social media channels, invest in technology for better customer services, and attract customers with multiple perks.  

  • Does social media help boost e-commerce sales?

Social media is a powerful weapon for e-commerce businesses. Promoting your products through social media advertisements and influencers will draw in customers and help you get RIO as high as 600%. Marketers spending more than 6 hours daily on social media marketing are known to have grown leads by at least 66% per week. 

  • How do you get the best marketing tools for e-commerce business?

Marketing is the golden ticket to lead generation, and finding the right tools to work with can be difficult. Still, if you have a promising e-commerce website service provider, your marketing concerns are no more with this advantage. Platforms like Webx give their customers some of the finest marketing tools. 

  • What is upsell and cross-sell?

Upsell is a marketing method where you offer a product that is better and more costly than the product chosen by the customer. 

Cross-sell is where you suggest comparable products to the product selected by the client. 

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