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10 Ways to Increase Revenue of Your Online Store
Ten easy steps that lead to your AOV growth. How user-friendly experience, high-quality content, and informative main page can boost your revenue. What you can do to prove that you are a reliable seller. Loyalty programs, urgency sales, and many other useful tips
Financial KPIs are one of the main predictors of a successful future of any ecommerce company. That’s why ecommerce businesses are searching for ways to boost their online sales and increase online revenue.
One can create a unique product, build and design a cool website, and fine-tune their service. Nevertheless, none of these factors guarantee high returns. There is always a little something that can screw up your whole journey.
This article presents 10 methods to grow your revenue.
1. Optimize your store and make it user-friendly
If you want users to make purchases on your online store, an attractive design is not enough. Your website should also be convenient, fast to load, and easy to use. It’s a crucial element of user experience: Google reported that more than half of mobile visitors will abandon the web page if it doesn’t load within 3 seconds.
To optimize your ecommerce site, check if all the functions work correctly:
- There are no errors during sign-up.
- All the buttons (‘Add to Cart’, ‘Buy’, ‘Notify’) work.
- Consumers receive order confirmation emails.
- There are no 404 errors, etc.
Any of these problems can make you lose potential buyers.
Online store optimization also includes product categories. Make sure that visitors of your website do not get lost among endless pages. Create separate categories and subcategories for each product group. Add tags to each product so that customers can filter desired products both by tags and categories.
Q. How exactly should I divide my product selection into categories?
A. For example, if you sell furniture, you should create separate categories for sofas, beds, wardrobes, etc. The ‘Beds’ category should be further divided into various subcategories: ‘Double beds’, ‘Single beds’, ‘Baby beds’ and so on.
Overall, having a user-friendly website helps with your task of increasing online sales. When clients can find the right products swiftly, it encourages them to make a purchase. It also improves behavioral factors that affect your store’s positioning in search engine results.
2. Fill your website with high-quality content
Make sure you only post good content on your store’s page. This applies to all textual and visual materials, i.e. both articles and photos/videos. It’s especially important for promotion of ecommerce websites since content marketing builds brand loyalty and trust.
For example, you can start a blog, write interesting and useful articles, record product reviews and embed YouTube videos in your pages, give advice and recommendations, and so on. Now, check these 4 methods to increase online revenue via reworking your content quality.
Use top-notch visuals
Users of online stores base their purchasing decisions on visual information, so product images play one of the key roles in incentivizing visitors to convert. Photographs of your goods allow customers to get acquainted with them. You should add HD images to product pages, making sure they are taken from different angles and customers have no blind spots.
Make sure your content is helpful
Each page of your online store should carry useful information. For example, if it’s a page of a certain product category, you can add the following details:
- Products presented in this category
- Brands presented in this category
- Countries you’ve imported these products from
Do not forget about product cards. These are item descriptions that clients would find on a product page. If you add text descriptions to each product (instead of only leaving it with photos), your whole website’s conversion rate will go up.
Get more specific on each item. Add detailed characteristics of its composition, materials, weight, dimensions, manufacturer, size, etc. However, keep your descriptions brief and precise. If you are looking for ways to increase online sales, you need consumers to get the correct information about your product in one quick read, so there’s no point in stretching it.
Write for people, not for search engine algorithms
Search engines are designed to prioritize websites that are useful and readable. It means that resources with spammy materials would not be considered as relevant. If you over-spam some of your pages, it might lead to your online store disappearing from search results. Hence, you might lose revenue and traffic from your SEO efforts.
Q. Why can stores disappear from SERPs in case of keyword spam?
A. Search engines have various tools that analyze text composition and automatically delete over-spammed articles from their rankings. Spamming keywords might get you banned from being displayed in SERPs.
The solution is fairly simple: you should only write authentic and comprehensive texts that will benefit your readers. These might be reviews, top-lists, explainers, step-by-step guides, news, and much more.
Divide texts into blocks using headings (H2, H3, etc.)
Users rarely read website texts from A to Z. Typically, they have individual problems and questions, so they are looking for answers to cover whatever’s on their mind. To help your customers navigate pages better, divide your texts using headings and subheadings. Thanks to them, visitors understand which text part contains the details that they need.
3. Highlight that it’s safe to buy from you
Unfortunately, fraud is thriving on the Internet, so users of online stores want to be 100% sure they will not be tricked. To prove your reliability, prove that buying from your website is safe. Here is a list of details that can show your transparency, thus building trust of your visitors:
- Physical address of your company
- Phone number
- Delivery and return policies
- Guarantee of confidentiality
- Customer reviews (preferably with names and photos)
- ‘About us’ page that shows faces of your employees
- Product warranty
You can also post logos of your business partners and show information about security certificates. Also, the entire website should be free of spelling errors, low-resolution pictures, and so on. It may seem that these things are insignificant. However, the combination of these minute details is exactly what grows your revenue since it forms the image of your online store in the eyes of potential customers.
4. Make your homepage informative
When users visit your website’s homepage, they should immediately understand what they can find here. A well-designed and highly informative homepage contains such things as
- your company’s logo,
- short description (e.g. ‘leather shoe store’),
- search bar,
- product categories,
- promotions and special offers,
- best-selling products.
It’s best to place the logo and description in the upper left corner of your web page. You can also embed a video that introduces visitors to your brand, explaining your store’s competitive advantages and benefits.
5. Implement cross-selling in your store
No one would want their customer to buy item A (for example, shoes) in their store and then go to their competitors to purchase item B (a bag, scarf, or belt). Especially when item B was presented in the first store’s selection.
If a person buys an item from you, offer them additional products that go well in combination with their original purchase. This technique is called cross-selling, and retailers use it to boost AOV.
Q. What additional products can be offered to increase order value?
A. For example, a customer who has bought a smartphone can be offered a case or screen protector. French fries go well with coke or dip sauce. The key is offering something minor that will, nevertheless, improve the user’s experience.
You can implement cross-selling in the following ways:
- Offer extra goods in retargeting ads
- Send email newsletters
- Embed a block of related products on a product page
- Embed a block of related products in user’s cart
- Offer additional goods during checkout
Attention, Shopify store owners! One of the nicest ways to boost online sales would be to consider joining the Collabica platform. This is a friendly community of brands ready for gainful cross-store partnerships. Our solution allows you to add suppliers’ goods to your storefront in a single click and start selling them instantly. There’s no need to deal with stock levels and delivery. Simply install Collabica to expand your selection of products and watch your AOV go up!
6. Improve your store’s adaptivity and usability
According to recent statistics, 8 in 10 online shoppers use mobile devices. It means that the majority of visitors access your store via gadgets. That’s why working on your website adaptivity can affect your financial KPIs. Imagine how much revenue you might be losing simply because your site is inconvenient to use on mobile!
Usability is another factor that directly affects conversion rates. When we say that a website is ‘usable’, we actually mean that it’s easy and convenient to use. An online store with great usability will generate a decent profit even when its traffic is low.
**Q. What makes online stores unusable? **
A. Confusing structure, small text size, low-quality photos, slow page loading, complex registration forms — these are all usability problems. If it’s something that can be seen on your website, you need to fix it urgently.
7. Introduce customers to special offers
You can use promotions that need buyers to purchase more products in order to receive a discount. It helps to increase AOV of your store and get rid of goods that got stuck in your inventory for too long.
Here are some options:
|3 + 1 for free||When buying 4 items, the cheapest item is given away for free. (Not applicable to items from new collections)|
|30% for every 3rd item||When buying 3 products, a 30% discount is provided on the cheapest item in the check.|
|1 + 1 = 3||When buying 3 identical items in store, customers only pay for 2.|
8. Inspire your clients’ fear of missing out
Many people add items to their shopping carts just to decide whether to buy them or not. In most cases, the purchase is delayed for several months or completely canceled.
One of the most effective marketing tools in an online store is an urgent or limited-time offer. Creating a sense of urgency and FOMO pushes customers to hit the ‘Buy’ button.
Time-sensitive offers are effective for increasing online sales and AOV. Here are some examples of such promotions:
- When making a purchase on the 25th day of each month, a client receives a 10% promo code.
- An offer that says, “Buy 3 items with 40% off in the next 24 hours!” forces users to act quickly without postponing purchases.
- You can also use the fear of missing out by offering discounts or free shipping if a customer places their order in the next X hours.
9. Turn random visitors into loyal customers
When trying to get more purchases, entrepreneurs ask themselves, “How should I attract new customers?” Instead of working on fresh traffic growth, marketers recommend focusing on people who have already bought from your online store.
- Repeat customers add more items to their cart, spend more money, and have a higher conversion rate.
- The chance of selling a product to regular customers is significantly higher than to new customers.
- Retaining existing customers is much more economical than constantly attracting new people.
This is especially true for online shopping. It’s always easier to place an order in an online store that you know and trust than on an unfamiliar website. Without having the first-hand experience of ordering goods from a new retailer, you don’t feel comfortable buying from them. That’s understandable since there is always a risk of getting low-quality goods or waiting for them for too long.
Q. What can be done to attract loyal customers?
A. Create a loyalty program so that customers spend more money on your website. Introduce reward points that can be used to get free products, discounts, special offers, or free shipping. Also, send out email newsletters to inform regular customers about new promotions and products.
10. Make delivery and payment options convenient
In this list of tips to increase online sales, the final one is to include multiple delivery and payment options. Offer several methods in your store so that buyers choose those that are most comfortable for them.
For example, if you intend to sell a product across the country, courier delivery may scare off regional customers. After all, the most popular type of delivery in remote areas is mail shipping or shipping via transport companies.
It’s the same with prepaid and postpaid orders. Citizens from remote cities may prefer postpaid orders because they feel that a long delivery time can damage the goods they ordered.
Even if you are targeting people from larger cities, some may order a product as a gift. In this case, they might need a whole new range of delivery options that you simply can’t provide.
You should also strive for making the payment process as simple as possible. Ideally, it should be one-step. This way, customers will be able to finalize their order as soon as they click the ‘Pay’ button.
According to Baymard Institute, almost 70% of shopping carts get abandoned. Here are the possible causes behind it — as well as solutions that you can implement.
|To place an order, clients need to sign up on the website.||You can allow users to checkout as a guest.|
|Clients do not find a suitable payment method.||Include all possible payment systems so as not to miss a single client.|
|No one wants to purchase products that cannot be returned or exchanged.||Allow cash-on-delivery and returns in case a product does not fit.|
To grow your online store’s web sales, you don’t have to invest huge amounts of money and/or completely redesign the entire website. Even tiny improvements can provide a nice revenue raise.
Now you’ve learnt 10 proven ways to increase AOV and sales of your ecommerce business. Here’s a challenge: try to implement one of the listed tips in your store each week. After another 1–2 weeks, measure the result of each step you’ve completed. The difference will pleasantly surprise you!