The eCommerce industry is one of the fastest-growing in the world. In 2024, it’s predicted. In 2024, retail e-commerce sales are estimated to exceed 6.3 trillion U.S. dollars worldwide, and this number is only expected to grow as time goes on and the world becomes ever more digitised.
So how do you make sure that your company is still profitable amidst all these new competitors? And, that your ecommerce business is breaking ground and making strides as the post pandemic world points to even more companies moving their operations online?
You need to be constantly thinking of ways to increase your sales, which can be difficult when you’re already busy trying not to drown. Whilst we’ve got no armbands to throw you for the latter, we can help with the former; here are 6 effective ways to increase your ecommerce sales.
Run Promotions
Promotions are a great way to increase your sales if you know what types of promotions work best for the specific needs of your company. This can be done in multiple ways; you can have seasonal promotions, special deals for specific holidays or events, newly-released products at reduced prices…hell, you can even invent a special company day just for an excuse to run a promotion.
If you’re unsure about what type of promotion will work best for your company, a good way to find out is by simply asking your customers. You can do this in a few ways, such as surveys or polls.
Another important thing you should keep in mind when it comes to promotions is timing. It’s crucial that you time your sales well; if you run a promotion too close to a holiday, your customers might not be looking to purchase goods online. An effective way to ensure you’re timing your promotions correctly is by simply paying attention to the dates and seasons of big holidays and major trends throughout the year.
Explore Social Media & Targeted Online Advertising
Social media platforms are a goldmine for eCommerce businesses looking to increase their sales. With billions of users worldwide, platforms like Facebook, Instagram, Twitter, and LinkedIn offer unparalleled opportunities to reach potential customers. The key is to understand where your target audience spends their time and tailor your content to engage them effectively.
Start by creating a strong social media presence. Post regularly and ensure your content is visually appealing and relevant to your audience. Use high-quality images, engaging videos, and compelling captions to capture attention. Additionally, leverage the power of social media advertising. Platforms like Facebook and Instagram offer highly targeted advertising options that allow you to reach specific demographics, interests, and behaviours. This ensures your ads are seen by the people most likely to be interested in your products.
Another effective strategy is to collaborate with influencers. Influencers have established trust with their followers, and a recommendation from them can significantly boost your brand’s credibility and reach. Choose influencers whose audience aligns with your target market for the best results.
Don’t forget to track your social media performance. Use analytics tools to measure engagement, click-through rates, and conversions. This data will help you refine your strategy and maximise your return on investment.
Optimise Your Website For Quicker Hosting
A fast-loading website is crucial for retaining customers and improving your eCommerce sales. In the always-online age, users expect websites to load quickly, and any delay can lead to a significant drop in engagement and conversions. To ensure your website performs optimally, invest in a reliable hosting service that can handle high traffic volumes without compromising speed. Fast Magento hosting (other platforms are available), specifically designed to support eCommerce platforms, is well worht investing in here.
Additionally, optimise your website’s images and use content delivery networks (CDNs) to reduce load times. Regularly monitor your site’s performance using tools like Google PageSpeed Insights and make necessary adjustments to maintain a seamless user experience. By prioritising speed, you not only enhance customer satisfaction but also improve your search engine rankings, driving more organic traffic to your site.
Build Email Lists & Use Email Marketing To Stay Engaged With Your Customers
Email marketing is a great way to market your business because it gives you the ability to stay engaged with your customers, and it’s a really easy and cost-effective method of marketing. What many companies don’t realize is that email marketing isn’t just sending out one banner ad or promotion… You can actually send out promotional ads in the form of an email. This is a great way to reach your customers and gain brand loyalty and it’s also a great way to promote new offerings.
Simple ways to get started with email marketing is by simply building your mailing list, cultivating relationships with readers, and sending them relevant content that still interests them. If you make it seem like they’re getting something, they’ll more than likely be eager to receive the emails you send them.
Read: 5 IDEAL digital marketing tips for your e-commerce shop
Simplify Your Checkout Process
One of the biggest things that will help boost your online sales is by making it easy for customers to purchase items. You can do this by providing all of the information they need before they checkout; if you make them hunt for the information they need, it’s more than likely going to drive them away from your website and towards a competitor site.
Another way to make it easier for customers is by providing payment options that they actually want to use, such as PayPal or mobile payments. It’s important to note that not all customers are looking for the same information, which is why you should be sure to cater your website specifically towards your target audience.
Increase Your Product Lines
Another way you can increase your sales is by diversifying your offering. This means branching out into new product lines, but still keeping in mind your target audience. It allows you to achieve so many different things, such as increasing your revenue while also reaching out to a new customer base.
This is a great way to increase online sales because it not only helps you sell your company as a whole but each product separately as well. There are so many different things you can do to increase your eCommerce sales, but these should help get you started. You should also aim to carry complementary products that are related to your main product line; this ensures that people will be more likely to make purchases on your website because they already trust you.
Implement Both Up-Sells & Cross-Sells
One of the best ways to increase eCommerce sales is by implementing upsells and cross-sells. It’s especially important to implement this tactic if you carry more than one product line/brand, because it will help customers discover different products that they would have otherwise never heard about. Let’s say that you sell shoes online, but you also sell sunglasses for your company.
If someone buys a pair of shoes, they might not purchase sunglasses because it has nothing to do with their initial purchase. However, if you implemented an upsell, they would see the option of purchasing the sunglasses at checkout; this is known as an upsell, and it’s a great way to increase sales. Another tactic you could use is cross-selling; this is where you encourage customers to purchase other items that are similar or related to what they just bought. You can do this by offering discounts for purchasing different lines/products at the same time, which will entice them even more.
The Bottom Line
There you go, then; seven highly effective ways to increase your eCommerce sales. We hope that by reading this post and following the tips given in it, you were able to learn more about how these principles can be applied to your own business strategy.