3 Essential eCommerce Strategies to Increase Online Sales
Are you having trouble increasing your online sales for your eCommerce website? Maybe you’ve been looking into a couple of eCommerce strategy consulting firms, but don’t yet have the means or the budget to hire one. Maybe you’ve also considered paying for online advertising, but are still looking for ways to increase your revenue without shelling out more money.
Well, here are a couple of simple yet significant eCommerce strategies that you can make use of to increase your overall sales and create enough revenue to scale your business.
1. Upsell & Cross-Sell Your Products
Upselling is a marketing tactic wherein you try and persuade customers to purchase the more expensive and premium version of a certain product. It’s fairly common in software-as-a-service (SAAS) companies that are trying to sell you premium subscriptions for their apps or software.
The most common form of upselling can be seen in fast-food chains, whenever the cashier asks, “Would you like to upsize your fries and drink?”
Another example of upselling can be seen in laptop sellers. If, for example, a customer is looking to purchase a laptop for school use, and is currently eyeing a low-end laptop, you could choose to offer that customer a unit with more upscaled specs. You could sell that customer on the idea that upgrading to a higher-end model ensures faster speeds, loading times, and a greater capacity to multitask.
Cross-selling, on the other hand, is when you try to sell other complementary products to a customer’s purchase. Think, “Do you want fries with that?”
One company that does this really well is Amazon. On every product page listed on Amazon, you’ll often see a section entitled, “Frequently bought together”. This is where Amazon tries to cross-sell other products based on customers’ tastes and preferences.
Whatever products your company is selling, think of ways to pair certain products together, whether that’s a tea set with your most-recommended teas, or handcrafted candle holders with premium scented candles. There are a million combinations to think of. Just find the perfect one best-suited for your business.
2. Include FREE Shipping
If there’s one thing that turns off a customer upon checkout, it’s hidden or additional fees. One of the simplest things, then, that eCommerce businesses can do to increase revenue and sales is including FREE shipping.
In fact, according to a Deloitte study, about 69% of shoppers are more likely to purchase from retailers that offer free shipping. So if you aren’t taking advantage of this simple tactic just yet, then now might be the time to consider it.
3. Reduce Abandoned Carts
Findings from web research company, Baymard Institute found that about 69.97% of online shopping carts are abandoned. That’s a huge chunk of potential revenue that companies could miss out on.
Carts are often abandoned for one reason or another. One of those reasons includes shipping fees. However, sometimes customers get distracted by something else and simply forget to check out the item they put into their cart.
This is also why, after adding something into your Amazon cart and then abandoning it, you’ll find yourself receiving an email from Amazon saying that you forgot to checkout. Reminders like these are effective at reducing abandoned carts.
These simple marketing tactics can take you far. But if you’re looking for more advanced marketing strategies, then perhaps it’s time to consider looking at eCommerce strategy consulting experts. One valuable resource that we recommend is Genius eCommerce, which provides the latest in eCommerce news, resources, education, and consulting to help you scale your business to new and exciting heights.
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