The Secret to Boosting Ecommerce Revenue - 7 Smart Tips

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(No Transcript)
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Overview
Managing an ecommerce business can be a lot
harder than it seems, especially when you take
into account the vast amount of e-commerce
websites out there with which you are
competing. Whether you are just embarking on
your ecommerce journey, or your business just
isnt seeing the revenue growth it used to, you
are probably thinking what you can do to set
yourself apart from the competition and boost
your sales. If you are having trouble finding
new ways to get more customers and increase
revenue, the experienced ecommerce development
specialists at Helios Solutions provide top 7
tips to increase your ecommerce revenue.
OVERVIEW
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7 Smart Tips to Boost Ecommerce Revenue
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Tip 1 Harness the power of influencer marketing
Influencer marketing refers to the marketing
practice in which brands collaborate with
individuals who have strong influence over
audiences/prospects the brands want to
reach. Its high time to take advantage of
influencer marketing by developing strategic
partnership with celebrities or industry experts.
Ultimately, these key people take on the role of
influencers as they can pull large number of
potential customers. A 2019 survey by The
Influencer Marketing Hub (partnered with Viral
Nation and NeoReach) emphasizes how influencer
marketing can be highly lucrative for those
brands who engage in it. The survey reveals that
businesses make 5.20 for every 1 spent on
influencer marketing.
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Tip 2 Participate in multi-channel selling
In a recent survey, Stitch Labs, an inventory
management software firm, found that retailers
who sell on even just two different online stores
observe a 190 jump in revenue over those who
sell in just one. Of the organizations surveyed,
almost 75 feel that using a multi-channel system
has increased sales, 64 feel it increased
customer loyalty, and 62 feel it gave them a
competitive advantage. You can get the most out
of your ecommerce store by diversifying across
internet. Although managing different channels
can be challenging, but once properly integrated,
it can give a significant boost to your revenue.
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Tip 3 Put efforts in converting prospects
rather than attracting them
Do you put efforts just to increase web traffic?
This is a grave mistake because it is meaningless
unless and until your web visitors perform the
action you actually want them to perform.
Therefore, you must equally put efforts on
turning your visitors into customers. Nurturing
is what you can do to move a prospect down to
your conversion funnel, turning a window shopper
into a cash-paying consumer. It could be done in
many ways like providing offers, developing pages
that have rich UI elements etc.
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Tip 4 Never ignore your business branding
Always keep in mind that you should never let
your customer get confused about who you are and
what you do. Your branding has a direct impact
on your revenue and that is down to how your
prospects / potential customers see you. If your
overall look doesnt appear credible or high
quality, it could affect whether people choose
you or one of your competitors. As a leading
ecommerce development agency, Helios Solutions
suggests you to rethink about your logo, website,
and customer communication medium in order to
improve your branding.
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Tip 5 Build customer relationship that lasts
Nothing is more important than establishing great
customer relationships in business and ecommerce
is no different. If you can solve the pain points
of your customers through your website or provide
value to them with your content, then your
customers would love to visit your
site. Charlotte Lynch of Modern Retail says One
way to get more web traffic and engagement is
having a blog and offering your customers help
rather than just a sale. For example, if you
sell mobile phones through your e-store then
educational blog posts on latest mobile news,
reviews, unboxings, etc. would be really
beneficial for your customers. They would come
back for consuming more content on your site and
eventually buy from your site.
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Tip 6 Put efforts in improving your ecommerce
store's security
Consumers often share critical information while
making online purchases from your store. It is
important that you guard this data. If your
ecommerce site gets hacked then there is a strong
possibility that you get ruined for life as
consumers never like to get robbed of their
credentials and personal details. Therefore, it
is wise to secure your website and payment
gateway by implementing SSL certification. David
Decorte of Chargebacks 911 suggests, Merchants
should look at other ways to increase security
and defend revenue streams which wont impact
conversion, such as chargeback mitigation, better
reporting, ensuring MID health and reducing
operational costs.
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Tip 7 Use Video Marketing
When people shop online, they take extra steps to
ensure that the product they want to buy is the
best. Because they cant see the product up close
or hold it in their hands, they need reassurance
and detailed information that convince them to
make a purchase. Heres where video marketing
comes into play. Video marketing provides people
with the opportunities to have a better look at
the products they wish to buy. The benefits of
video marketing are better explained by Miljana
Mitic of GoodVidio. In her words, SEO-savvy
ecommerce marketers use rich media to attract
visitors. One such example is videos, which on
average lead to 157 more organic search traffic.
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