Getting revenue by selling products/ services seems to be the goal for every eCommerce store. Most of the business owners know exactly which units they have to sell in order to break even and start earning, but not really know how to increase the revenue in eCommerce stores.
Increase Revenue in eCommerce Store
Therefore, today we will talk about how to increase revenue in ecommerce store, and all these methods are free zero cost. Let’s start!
1. Show Off Customer Testimonials
Nowadays, social influence is so important for businesses, purchased customers value feedback able to provide confidence for your potential customers or those customers that’s in the evaluating stage.
Hence, you must show off your customer testimonials on your website on your products page, to increase the chances of converting customers.
2. Create a Sense of Urgency
Promotion that never ends, it will only make your customers take longer time to their decision making, and ended up maybe they found another better offer.
That’s why we need to create a sense of urgency, a simple example will be to set the end time for every promotion, eg: “30% off for all items, 18 hours left! ”.
This is able to urge your customers decision making and increase your store revenue effectively.
3. Make It Easy to Find for Customers
Always make it easy for customers, and assume they are passive to purchase a product, they will not purchase it unless you put it in front of their eyes.
As an example in brick and mortar stores like supermarkets, eye level products have better buying rate.
It defines that customers are more likely to buy those products they are able to view. Same as an eCommerce store, you have to display those products you wish to sell or customers wish to buy at the front-page of your store, to make it easy to find and purchase by customers.
4. Automate Upselling
Another great way to increase your store revenue is using automate upselling tools, to increase your customers’ spending. How to upsell?
You can add in an addon bundle at your checkout cart page or at your products page, upsell related products to your customers’ purchases, such as they purchase a pair of shoes, you upsell them socks.
Besides that, we also can upsell through email marketing advertising after they purchased from you.
5. Provide Different Payments Method
Last but not least, we can keep adding our store payments method as well. It can increase our eCommerce store revenue indirectly, as we are able to expand our market to more countries with the multiple payments method.
Other than that, some customers also have their own preferred payment method, thus when they wish to buy something in your store but we do not provide the payment method they preferred, we end up losing the deal.
Tips above are only some of the methods that we can increase revenue in eCommerce store, there are still various things we can do and it also customises based on the different nature of businesses.
We may also try out paid advertising which provides you some instant return results. Check out more here if you are interested in paid advertising.
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