Published On: Fri, Mar 1st, 2019

The Not-So-Secret Tricks to Supercharging Your E-Commerce Revenue Loop

From $1.3 trillion in 2014 to $4.5 trillion in 2021—that’s a 246.5% growth in global e-commerce sales within a span of seven years, according to Statista. E-commerce has definitely taken flight and more sellers are coming in to take advantage of its popularity.

But being part of a booming sector doesn’t always translate to instant success. In fact, a lot of e-commerce sellers are struggling to make a sale, let alone reach six figures because they are using the wrong strategies.

So, what exactly are the secrets to supercharging your e-commerce revenue loop?

Get a good headstart with a sturdy foundation

All successful e-commerce businesses have one thing in common: a strong foundation. Although their strategies may differ depending on their audience, resources and industry, they’ve all invested in the foundations of a successful e-commerce site. Start with good SEO. Optimizing a website may feel like finding your way out a maze, but it is worth your time, money and effort.

Since it will usually take 6-12 months for you to see the results of your campaign, it’s very important to start implementing SEO best practices like proper keyword targeting, high quality linking and on-page optimization from day one. It’s also very important to not only collect email addresses from visitors but also offer them fresh, personalized content that will keep them in the loop of what’s happening in your site and convince them to finally buy that item they’ve been keeping on their cart for a long time.

Go for the complete experience rather than focusing on acquisition

It takes more than just client acquisition to build a successful e-commerce business. In fact, you have to invest in all the six stages of a client’s life cycle to make sure that you get good, consistent revenues. It starts with enticing the consumer to check out your site.

After acquisition when that consumer finally visits your site, consideration follows. This is when he weighs different factors before making a decision. If for example they want to Conversion is when that consumer actually buys the products from different marketplaces, but that should be followed by delight where he is satisfied with what he bought. Recommendation, the last stage, is when that consumer promotes your product on his social network.

Grab low capital opportunities to get early revenues

You’re probably working on a tight budget, and that’s okay. There are a lot of low capital opportunities out there that drive results without draining your wallet. For instance, you can take advantage of Facebook’s product catalog that lets you be part of its product ads that have been proven to get higher click-through rates than any other ad types. You can also try investing in paid Google Shopping ads that are not as pricey but still drive high traffic to your site.

Keep track of consumer purchase data

Whether you’re using an Excel sheet or a complex database, you have to keep track of everything that’s being bought on your site, when people buy them and what people use to pay for these purchases. It may sound daunting, but having this data will help you create a predictive model, which is useful in making specialized offers on your site.

Get good leverage on testimonials and reviews

69% of online shoppers look for more reviews from e-commerce sites, according to research, because a huge chunk of them rely heavily on this information to decide whether to buy your product or not. You can’t buy good reviews and testimonials, but you can invest in things that will make your consumer’s experience worth telling about online. If for example you are enticing them with an offer like have your groceries delivered, you can add more by surprising them with a small token or gift. That for sure, will get them to review your business in a positive light.

From making sure that all your products are of the best quality to optimizing your site so everything loads fast, a happy consumer is always a great ally in driving traffic and sales to your site.

Go viral with referrals

According to a survey by Nielsen, people are four times more likely to buy something when it referred by a friend. Just like testimonials and reviews, referrals are genuine ways to convince someone to buy your product. So, if you haven’t done it yet, make sure that you have a referral program in place. Take inspiration from the success of Uber and Airbnb that got most of their growth from the strength of their referral programs.

Breaking that six or seven-figure revenue is not similar to winning the lottery, which rely only on luck. If you are willing to work for it, you can build on a strong e-commerce revenue loop that will not only bring more cash to the table but also more longevity for your business.  

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