Expanding an eCommerce company is usually easier said than done. More often than not, what formerly performed admirably for your company needs to be revised. Therefore, a few new growth methods can be helpful given how quickly the eCommerce industry is evolving.
Today’s article shares the top six ideas that could help you reenergize your online store, engage your customers, and increase sales.
1. Start Selling Wholesale.
Wholesale refers to selling products in bulk at a discounted price. This method has several advantages that make it an excellent strategy for spurring expansion without a significant financial commitment or high level of risk. Even though starting to sell wholesale can seem frightening at first, you can leverage tools such as Joor’s wholesale management platform to simplify the process from signup to checkout.
By becoming a wholesaler, you can expand into this sizable industry and discover new sources of income for your company. You’ll have fewer clients who will make purchases all at once, meaning you can save your marketing expenses and get a great source of recurring business.
2. Get More Product Reviews.
Reviews are one of the most important tools for business success. They play a significant role in building trust between retailers and customers. In fact, about 93% of consumers will search for and read reviews before purchasing.
So, make sure to always ask your customers for product reviews. You could do this by sending follow-up emails or at the time of the sale. It’s equally important to avoid suppressing unfavorable reviews because they can reveal how you respond to criticism and deal with problems.
3. Streamline Your Store Design.
Your eCommerce website should be fast, straightforward, and simple to use. Start by compressing photos and videos to speed up the loading time of your website. Then, choose a lightweight store layout and use breadcrumb navigation.
Another important tactic for streamlining eCommerce store design is to use white space and avoid overcrowding sections with text. This is aesthetically beautiful and makes your store simple for customers to scan.
Last but not least, create a mobile-friendly display. You cannot afford to concentrate solely on desktop view because more than 40% of eCommerce sales occur on mobile devices.
4. Offer Upsells and Cross-Sells.
Upselling is persuading a customer to purchase an improved, frequently more expensive version of the same product. A side-by-side comparison table is an effective technique to show the advantages of the superior product so that the buyer may comprehend its advantages.
Cross-selling focuses more on highlighting connected goods. Displaying related products may raise the value of each sale. For instance, visitors will likely be interested in website hosting or buying stock photos if the customer buys website designs and templates.
5. Invest in Customer Retention.
While customer churn is natural, there are some effective ways to reduce it. To begin with, you should simplify the return process. An estimated 16% of all online orders will be returned, so don’t make this process a headache for your customers. Offering a satisfaction guarantee, free shipping on returns and exchanges, and email or SMS updates on returns are only some of the ways that can help you simplify this process.
Additionally, offer multi-channel support. Whether it’s by using social media, email, Google reviews, or Yelp, there are many ways a customer will provide feedback about one of your products. The more channels you can provide prompt help through, the better of an impression it will make on your customers. Finally, be sure to over-communicate in the post-purchase stage as this is one of the most important stages for an eCommerce business. After the order confirmation, a customer needs to be in the loop on their purchase. Failing to provide status updates, particularly if something is lost or damaged in transportation, can negatively impact a customer’s perception of your business.
6. Use Automated Emails to Win Business Back.
Sometimes all a consumer needs to return to your online store is a polite reminder. Winback marketing emails that are automated to send after a certain amount of time can make this simple. These emails can be quite advantageous for businesses selling subscription boxes or depending on monthly sales.
Consider adding a 15-20% discount to your win-back email if a client has been idle for some time. This might be the nudge they needed to finish their transaction and continue to think of your company.
Estimations show that there are about 24 million eCommerce websites. But despite the fierce competition, you may still succeed in eCommerce by attracting high-quality traffic to your online store, turning new visitors into loyal customers, and implementing the correct methods and growth strategies.