It’s no secret that setting up an ecommerce storefront is easier than ever.
Making it profitable?
That’s easier than ever, too.
Whether through digital products or dropshipping, scoring higher profit doesn’t mean having to take a ton of risks.
And with consumers totally accustomed to shopping online and the quirks that come with it, chances are your target audience is more than happy to spend.
Even so, maximizing your earning potential isn’t as simple as setting up shop and hoping for the best. Making more via ecommerce not only means taking some specific steps when setting up you store, but also creating an off-site ecosystem that engages your audience.
In this quick guide, we’ll uncover a few time-tested strategies for upping your ecommerce business ‘earning potential. When combined, these low-hanging tactics ensure that you’re not leaving any money on the table when it comes to your storefront.
Allow for In-App Purchases
The popularity of mobile ecommerce is impossible to ignore. Although appealing to searchers on-the-go via specific SEO is a good start, offering a full-blown purchasing experience via apps is the logical next step.
Think about it. People spend the bulk of their time on their phones glued to apps in the first place. Meanwhile, in-app notifications are opportunities to both “poke” your customers to purchase and keep in the loop about your latest offers and deals.
Doing so doesn’t require any sort of insane technical know-how, either. Through services such as Buildfire, businesses can transform their storefronts into a seamless mobile experience.
Optimize Your Landing Pages
There’s an endless slew of services and storefronts for merchants to choose from, all boasting “optimized” design that’s intended for maximum conversions.
The problem? What happens when every newbie on the planet is using the same template and it becomes difficult to tell one site from the next?
Despite how “optimized” your storefront might be, regularly A/B testing with the help of tools like Unbounce and Hotjar can help you guarantee that your traffic takes the exact actions you want them to. Some elements to consider during a landing page test include link placement, calls-to-action and your color scheme.
Reduce Lag Time in Customer Communication
Although the customer may not always be right, they’re certainly entitled to their opinion.
Ecommerce merchants should make themselves as open as possible when it comes to questions and concerns. This means having a presence on social media in addition to traditional means of communication such as email or phone.
However, also consider that consumers have higher expectations for response times these days. For example, a staggering 72% of people expect a response from a brand or business on Twitter when filing a complaint there.
That’s why social listening and notifications are a must-have for your business’ main points of contact. If you don’t have the capacity to deal with such comments in real-time, consider hiring a virtual assistant to help you with some of the legwork. This keeps you from worrying about the customer that “got away,” so to speak.
Incorporate User-Generated Content on Product Pages
Product pages represent seriously underrated real estate for any given ecommerce site. Rather than just slapping a photo and description on your product pages, consider additional elements that are proven to make your products more compelling.
User-generated content (UGC) is a great place to start. Whether it’s product reviews, customer photos or even a testimonial, UGC increases conversion rates across every industry without fail. These elements serve as proof that you’re a merchant that’s been around the block and therefore can be trusted by new customers.
Upsell and Cross-sell at Checkout
When it comes to earning more money, ecommerce merchants could learn a thing or two from the old-school world of sales.
Case in point, the seemingly lost art of increasing revenue through upselling and cross-selling. For example, tacking on a recommended offer upon checkout or as part of your order confirmation series a brilliant way to encourage customers to spend more.
This is why it never hurts to have less expensive, low-ticket items that can serve as irresistible impulse buys.
If you already have a base of customers, upselling and cross-selling is absolutely critical to your long-term success. The point of such offers isn’t to be in-your-face, but rather framed as a nice added bonus.
There’s ample room for optimization for just about any ecommerce site, granted you know where to look. Keep in mind that increasing your site’s earning potential isn’t a one-and-done affair, but rather an ongoing process. By making the changes above and monitoring your performance, you may be surprised at how much more your site starts earning.