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e-Commerce has become the bread and butter of today’s businesses. But not all companies can compete in the long run. Adopting novel e-Commerce strategies is the way forward.
The e-Commerce industry has exploded in the last few years and the pandemic has only exacerbated the situation. With competition rising, many e-commerce portals are offering significant discounts that are attracting a lot of people. The pandemic has given a substantial boost to online sales and the trend is only rising. But several companies have seen their sales plateauing or declining. It’s because they are using age-old marketing methods. If you don’t want to face a similar situation, you need to understand the shifting customer expectations and market trends.
This article will shed light on 5 instant ways of boosting your e-Commerce revenue and how you can stay at the top of the game.
1. Targeting appropriate customer segments is essential.
The first thing that you must focus on to improve your e-Commerce revenue is targeting appropriate customer segments. When profits start declining, businesses assume it’s because they don’t have enough customers on board. But experts suggest that customer retention, not customer acquisition, is the main problem. An important e-Commerce tip for companies is to start building loyal customers for their e-commerce portal. Loyal customers are essential for your business because:
a. They add more items to their shopping cart.
b. They are more likely to buy expensive things.
c. They spread good word-of-mouth.
Also Read: The Cyclonic Customer Buying Journey
2. Display a protection badge.
Your e-Commerce revenue will substantially increase if you display a protection badge on your website. A protection badge shows that you care about the customers’ sensitive details and make substantial efforts to protect them from cyber-attacks. In 2020, 66% of organizations paid a ransom to retrieve their data. So, if you don’t like splurging, you must tie-up with a renowned cyber-security provider.
3. Embed high-quality videos.
People love consuming video content. It’s because video demonstrations provide a comprehensive understanding of your company’s products and display use-case scenarios most effectively compared with other content formats. Research tells that websites that embed high-quality videos experience their users spending 88% more time on their pages. Here is an essential e-Commerce tip for you: If you want to increase content consumption, embed top-notch videos on your e-commerce portal.
4. Make your testimonials more authentic.
Compare the following two testimonials.
a. “The game is excellent. I recommend you to buy it right now.” — Rajat S.
b. “I like playing FPS games and this one gave me the chills. If you are a die-hard FPS lover, you cannot miss this marvelous son-of-a-b@#$%.” — Nishant Joshi [Along with the candidate’s picture and his job title]
Out of the testimonials mentioned above, which one do you think will make a more profound impact on you? Of course, the second one, isn’t it? It’s because the second testimonial gives more details about the game (storytelling) and contains the candidate’s full name along with his picture and job title. So here is an e-Commerce tip: If you want to increase your e-Commerce revenue, remember to put authentic testimonials alongside your offering.
5. Use mobile-friendly applications
Statistics indicate that 73% of millennials prefer shopping online using their smartphones. Following are the reasons for this rising trend:
a. Single click for buying products.
b. Portability of smartphones
c. Discounts on purchasing through mobile applications.
d. Easy-to-use service features.
Thus, you should build a mobile application with an easy-to-use interface if you want to increase e-Commerce revenue.
Also Read: Mobile-Friendly Enterprise Resource Planning Solution
Conclusion
If you implement the 5 e-Commerce tips mentioned in this article, you will significantly improve your e-Commerce revenue. Remember to offer massive discounts to users on special occasions and send personalized communication messages. Brainstorm to create actionable value propositions that pique the customer’s interest.
At Sage Software Solutions (P) Ltd., we are home to world-class ERP software and CRM software that will solidify your business tech support fundamentals and enable you to build a customer-centric organization. To know more about it, SMS SAGE to 56767. You can also write to us at sales@sagesoftware.co.in
Disclaimer: All the information, views, and opinions expressed in this blog are those of the authors and their respective web sources and in no way reflect the principles, views, or objectives of Sage Software Solutions (P) Ltd.
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