Want To Increase eComm Revenue?
Ask any marketer about their top priority, and you’ll nearly always receive “Growing sales” as a response. While building an audience is important, it’s sales — and specifically online sales — that keeps the lights on and allows the business to thrive. Sure, you can spend days, weeks and even months optimizing your sales funnel, but if you’re not focused on what matters most your results may be dismal at best. Here’s how you can prioritize the steps that will truly move the needle and grow your eCommerce sales.
1. Be Customer Obsessed
In 2011, Jeff Bezos said, “If you’re truly obsessed about your customers, it will cover a lot of your other mistakes.” This is as true now as it was then, and savvy marketers are always on the lookout for ways to re-center the conversation around their buyers. Learn how to take active listening to an art form, and truly integrate customer suggestions into your products and services in a way that makes them more appealing than the competition. In fact, don’t just listen to your customers, listen to your competitor’s customers as well! You can gain valuable insight by looking across the landscape of solutions to gather the best feedback to bring back to your business development and marketing teams. This means looking at a deep level at the needs and desires of prospects and customers, and determining how best to engage with each facet of your audience.
2. Find New Avenues for Sales
Finding new customers may be as simple as adding your products to a variety of product feeds, such as Google Shopping, where customers are able to browse your products external to your website. These product listings are essentially ads, and run directly through your Google AdWords account via the Google Merchant Center. Better yet, this option allows your prospects to see ratings once more than 150 reviews have been submitted to your store in the prior 12 months. While technically a new step in growing eCommerce sales, Google Shopping is yet another way to be customer-centric.
3. Leverage Your Social Reach
Social media is not just for keeping up with your neighbor’s cute kids, it’s a serious engine for driving real revenue online. Not only is there a deep amount of audience data available via social media page metrics, but you can micro-target audience segments by time and a number of different demographic options to ensure your message hits at the right time for them to make a purchasing decision. When your sales funnel is fully optimized, this allows you to easily lead your prospects from clicking an interesting ad link directly through to the shopping cart. Consider creating offers that encourage sharing of your page or offer in order to fully leverage your audience reach.
4. Increase Average Order Size
When customers are in a buying mood, it’s important to ensure that they’re seeing all the potential options that could support their purchase. For instance, if you’re selling a gadget, what type of gizmo (batteries, maybe?) would make it more effective at solving the customer’s problem? Increasing the average order size through upselling and cross-selling of related products is much less expensive than finding new customers — making it an efficient use of marketing dollars to optimize this experience.
5. Encourage Repeat Sales
Always keep in mind that the sale doesn’t end when the customer hits “Submit”. In fact, that is only the beginning of a long and properous relationship! Provide great service after the sale, and don’t be afraid to upsell or share details about additional products in the order confirmation. Studies show that this email has a higher open rate than traditional marketing emails, so don’t waste that valuable real estate with a bland followup message.
Increasing your eCommerce revenue isn’t something that you do once and then move on to other tactics. Your customer optimization cycle requires ongoing conversation between business and marketing teams, and deserves special focus within the organization.