Ways To Improve eCommerce Revenue
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An eCommerce site offers an unlimited way to grow revenue. It’s a big venture for all businesses. Unfortunately, launching an online store won’t guarantee success. That is, an increase in revenue isn’t a guarantee of having to put in the work. Business owners must use any creative strategies they can think of to boost their online sales. Increasing conversion rate is the fastest way to improve eCommerce revenue. The good thing is that there are several ways to do it.
Provide an exit offer
Most website visitors add products to their virtual shopping cart. But, for some reason, they leave the site before they complete the purchase. The average abandonment rate for eCommerce ships is from 60 to 80 percent. Now, if you have a product that costs $100 and you have an average daily visitors of 1,000, 40 percent of them are likely to convert while the rest would abandon their cart. Cutting cart-abandonment by 50 percent could help generate $40,000 to $45,000 in revenue. But what’s an exit offer. It’s a kind of offer that shows up when visitors try to leave before completing their purchase. The offer encourages shoppers to continue with their purchase. These incentives could be a coupon code or free shipping.
Introduce an affiliate program
It can boost traffic and online sales without having to spend on advertising. This program is a risk-free strategy. Start by having an in-house affiliate program. Or join a secure network to promote it. What’s best about joining an existing network is that there’s no need to hire a person to manage it. Furthermore, it allows instant access to the best affiliate marketers available. Before introducing it, however, make sure to have a strong offer. Then, the website must be fully optimized. Be sure to help affiliates to be successful because their success is also the victory of your eCommerce business.
Offer cross-selling
Purchasing additional items would significantly increase revenue without having to add advertising and marketing costs. When checking out, visitors are presented with relevant up-sell offers. Cross-selling is a process that involves matching items that are best-selling items or often purchased together. Up-selling is different because it provides buyers to buy a higher quantity at a discounted price. It’s an irresistible offer that customers can’t resist. Amazon used this strategy in 2006 when the increased in sales were mostly the result of cross-selling.
If you need further help in boosting online sales through eCommerce Web Design, call Website Depot’s team today: (888) 477-9540.
