5 Ways Small E-commerce Sellers Can Improve Their ROI
With 2019 behind us, many eCommerce sellers have started looking for new ways to drive traffic, leads, sales, and ROI of their store. There are plenty of things that small sellers can do to increase the profitability of their business such as investing in high-resolution product images, creating a sense of urgency, streamlining the checkout process or availing eCommerce SEO services. However, in this insightful post, we will unveil some simple yet powerful ways that will not only drive your eCommerce ROI but also help you take your business to a whole new level of success. Read on to know the result-oriented tactics. Let’s dive right in.
The easiest way to win the trust of your prospective customers is adding customer reviews and ratings on your product page. Always be prompt in asking reviews from your customers since 91% of people of the age group 18-34 trust online reviews as much as recommendations by their friends or family. Moreover, 93% of customers rely on online reviews in making a buying decision.
Another powerful way to display social proof is reaching out to your loyal customers and ask them to write a testimonial for your eCommerce store. Testimonials are another popular type of user-generated content (UGC) that not increase your brand trust and credibility but also tell search engines that your site is catering to the needs of customers. In other words, UGC can help you augment your brand loyalty, trust, and sales.
When reaching out to customers for testimonials, always consider your email list since this is where you’ll find your brand advocates. Once you receive testimonials, you can showcase them on your website homepage, landing page, product page, or any other page that receives maximum visitors. The best part of integrating user-generated content (testimonials, reviews, or social posts) is that it is more influential than a product copy written by an expert.
#2 Reduce Cart Abandonment
You may have an aesthetic website design with fluid navigation, but if your checkout page is creating friction for customers, you may end up losing money on the table. According to a report by Wikipedia, the average shopping cart abandonment rate is 67.91% and this figure rises greatly when it comes to shopping from mobile devices. Several studies have shown that the mobile shopping cart abandonment rate is 81%. The primary reasons that are accountable for 67% of shopping cart abandonment include:
- Unexpected shipping cost
- Lengthy account registration process
- Lack of payment options
- Asking too much information
- Limited security features
- No estimated delivery date or time
- Page load time
- Poor UX Design
- Vague return policy
- No customer support
By fixing these friction-causing elements from your checkout page, you can significantly improve your conversion rates, and ultimately you’ll observe a rise in your eCommerce ROI. Always ensure that your website is intuitive for visitors and they can easily navigate from one to the other with no hassle. Try to eliminate all irrelevant fields or steps from the checkout page that could discourage a customer from making a purchase.
#3 Increase Average Order Value (AOV) by Upselling
When customers add a product to their shopping cart, you have the opportunity to show them complementary products that could ramp up not only your potential for sales but also your AOV. For instance, if a person is interested in buying a microphone, you can upsell them an audio interface, a stand, or an XLR cable. On average, eCommerce store merchants make 70-95% of their revenue through upsells and cross-sells.
Amazon alone makes 35% of its total revenue through upselling and cross-selling products. This reason is strong enough to convince you that you should consider upselling and cross-selling products to improve your eCommerce ROI.
#4 Use Email Marketing
Undoubtedly, emails provide you direct access to your prospective customers and can play a great role in improving your eCommerce ROI. Therefore, it becomes crucial for small sellers to treat their email list with the utmost respect. Instead of sending the same weekly newsletter to all your customers, you can personalize your email by seeking help from an internet marketing outsourcing partner for estore. When you have an expert on your side, you can segment your audience based on their shopping history, actions, and preferences. This will surely help you target customers with offers that are more relevant to them. In other words, you will not only impress and engage customers but also increase your eCommerce ROI.
Here’s How You can Ramp up Your Sales and ROI Using Email Marketing:
- Post-purchase is the best time to send a personalized email to a customer. Infuse some creativity in your mail and craft your newsletter in such a way that it adds value to your prospective customers. Whether you are offering discount coupons for the next purchase or suggesting complementary products based on the past purchasing history, email marketing allows you to nurture your relationship with customers and drive your sales and ROI.
- In many research studies, it’s been found that the average cart abandonment rate is as high as 70%. However, the abandonment cart customers when reached out via email have a relatively high opening rate of 44%. This clearly indicates that there is a scope to use email marketing to reconnect with abandoned cart customers, engage them with personalized emails and channel them back to your site to complete the purchase.
#5 Leverage Remarketing
Whether you’re running a PPC campaign designed by the best eCommerce SEO company or investing in sponsored marketing, if you are not using remarketing, you’re missing out on converting way more prospects. It is undoubtedly one of the most effective ways to drive your eCommerce sales and ROI. The best part of this powerful marketing tactic is that it keeps your brand image alive in prospects’ minds and offers them several exciting opportunities to make a purchase from you.
Each marketing strategy discussed in this post is highly effective. However, when implemented together, they can skyrocket your eCommerce store’s traffic, leads, and sales. You may also, consider availing eCommerce marketplace SEO services from a well-experienced agency to improve your store’s search rankings. That ultimately helps you drive your eCommerce ROI.
Hope you’ve enjoyed reading this article and found these tactics helpful. If you have any questions, you can comment down below. We would love to help you.
Once your store is up and running, you should start looking for ways that can help you improve your eCommerce ROI. Luckily, you don’t have to invest your time in researching the result-oriented marketing tactics that can drive your traffic, sales, and ROI. In this insightful post, you’ll find everything that is useful in boosting your revenue with minimal effort.