Ecommerce business since its evolution is on fire. More and more businesses are turning to the eCommerce platforms following the expansion of the industry. There is a huge opportunity in this industry. Where this yields great opportunity, there, it also brings in a lot of competition. Every other 6 months, a new eCommerce app is launched. This guide will help you figure out the latest stats & predictions of the growing eCommerce industry along with some tactics to get the most out of your eCommerce business following some tips given by the experts.
Before getting into the ways of increasing eCommerce sales, let’s just get the present analysis of the eCommerce market.
For every eCommerce business owner & marketer, it is vital to keep track of the latest statistics of the market. Every survey conducted today depicts the growth in the eCommerce economy. This growth has many backing factors like – improved efficiency, infrastructure, security, and affordability. Below we have some numbers justifying the statement above.
Also Read: How to Design Stand Out E-commerce Apps
In recent studies, it has been predicted that the number of digital buyers will grow to 2 Billion by the end of this year, 2019 (source). Coming to retail sales, the gross amount will touch $3.45T by the same time & $4 Trillion by the end of 2020. This is a huge jump. By 2050, it is said that 95% of the purchases will happen through eCommerce. This is a good enough reason for the eCommerce business owners to work on sales. One more interesting survey was conducted by Digital commerce 360 that at present we have around 12M to 24M eCommerce websites around the world.
Clearly, the industry is growing with the pace beyond imagination. In this case, every eCommerce business owner should understand the need for building a strong sales strategy. In the following section, we are going to list some of the ways to increase the sales of your eCommerce business.
There are many strategies that when incorporated together can grow eCommerce sales drastically. Here, we are going to mention these amazing result-oriented sales and marketing strategies for every eCommerce business owner. No matter if you have an eCommerce website or an eCommerce app, these points will help you anyway.
Keyword selection and sales go hand-in-hand. The better keyword can drive sales up while the poor ones can throw the business down. This is the reason why keyword research is very crucial. Keyword research should be based on the objective of bringing relevant traffic that drives more conversions.
Also Read: The Future of E-commerce Mobile Applications
It is said that the perfect theory for keyword research is not just to bring traffic but to drive traffic that converts.
There are many eCommerce business owners & marketers who have no idea of what keyword research actually refers to. So, let’s begin by answering –
Keyword research is a technique to analyze and gather the best key phrases & terms that your potential customer is searching the most. This technique is called keyword research.
Usually, people misunderstand the keywords with the exact name of the product they are selling. Let’s just take an example – For instance, suppose an online store is selling are t-shirts so they consider that the only keyword relevant to the product is “t-shirts”. This is not actually true and while doing so they ignore the subsequent forego of the huge market that focuses on the keywords like – “red t-shirts”, “full-sleeve t-shirts”, etc, resulting in a loss.
So far we have discussed the importance of keyword research. Now the question is, how can we do it? Following a section of this article elaborates on the same.
There are many things that one has to keep in mind while carrying out the keyword research for a product, page or literally anything, but the one thing that is common in all of these is to find out the buyer’s persona.
# Building Buyer’s Persona – For this, all you have to do is a step in the shoes of a buyer. Imagine a perfect buyer for every category including the factor of his demography and pen it down.
# Be Proactive – For finding the right keywords, you should remain proactive. It is not a one-time task in fact, this goes on. You should keep your eyes open to observe the terms people are using to search for your product.
Once the buyer’s persona is clear one should start with the process below –
One technique that helps a lot is to ask people – your customers, family members, and even friends. Just remember do not ask them directly or otherwise, they will bend thoughts towards finding your product.
# Use Search engines to research for Keywords – One of the most frequent and most apt ways of finding relevant keywords is to search the terms with google and follow the related keywords section. This section is at the bottom of the page titled – “People also search for”.
In addition to that one of the easy and efficient way to expand your list of keywords is to use a tool named – “Keyword everywhere”.
# Choose Long Tail Keywords – After making the list of short keywords, the next thing is to build the list of long-tail keywords. By long tail keywords we mean rather than using terms search for phrases like “best t-shirts for men” or “best full-sleeve t-shirts for men”
# Filtering the List of Keywords – Once you have accumulated the list of all the potential keywords, all you have to do is filter the list on the basis of the importance of them. One tactic to do so is to focus on the keyword that has high volume and low competition. These keywords are termed as “low hanging fruits”.
These are the few points that define the structure of the process to find a perfect list of keywords for your eCommerce business.
Remember – The research should be carried out periodically and the work on the keywords should be done regularly.
No eCommerce business can stand without data. Data is indeed the soul of the eCommerce platform. Now imagine if the soul is corrupt how will the body operate? When it comes to data, remember, every platform has its unique bubble of traffic & customers. No two platforms will have the exact same profile and thus will not have the same audience. Data has the power of fetching new customers and retaining the old ones.
So far we have understood the importance of data quality. Now, let’s see what data are we referring to here. There are many ways to build data apart from our own research like through the platforms customers interact with our eCommerce app or website (e.g. during the registration process) or the potential customer data – the ones visiting but not purchasing. These are some of the channels through which one builds Data.
Improved data quality refers to the use of proper and efficient channels of reliable information that can be processed into useful and meaningful data. Now the question remains – how to improve the quality of data.
As per our experience, when one talks about data quality, the relevancy of the data is the most important.
# Data Source Selection – Selecting the right information sources and channels is very much important. There are many channels that may be used to collect information like chat records, customer feedback, in-app analytic analysis, CRM & more. This also includes selecting the information we need from the customers for example sometimes the date of birth is not an apt field to be added in the form. Asking for redundant information increases the bounce rate and therefore, loss of potential information.
# Data Filtration/ Extraction – The second step for the data quality improvement includes the filtering of the collected information for the relevant data.
# Data Storage – Apart from the collection of the data, the way it is stored holds vital significance. Storing data in a way that makes it available at the right time and is easier to understand is something every eCommerce business owner should pay attention to. It might take a few bucks out of your pocket, but will be worth in the long run.
There is strength in having high-quality data. The more data you have the more is a chance to form a dependable hypothesis & higher quality brings in the validation to that hypothesis.
Every eCommerce business depends completely on the customer relationship and therefore it becomes vital to pay attention to this factor. After you are done with collecting and building a well-structured database and have a list of keywords for your eCommerce products, the next step to help increase your eCommerce sales should be to opt for efficient CRM software.
We are not saying that you have to spend money to buy expensive CRMs. You can definitely go with the free ones like Hubspot.
To answer this question, let’s start by discussing the basic features of an efficient CRM software –
# Contact Management – The basic and most efficient feature of good CRM is Contact Management. With the help of this CRM software & CRM applications, one can easily manage customer profiles, maintain communication history, and build relationships.
# Account Management – Account management is another basic feature in every CRM solution. This feature enables the system to organize company or division information while managing the relationships. For example information like contact records, about people, etc.
# Order Management – In eCommerce business, managing the sales history and tracking the orders is one of the most challenging tasks. This feature helps build the link between the sales team and customers.
These are the few primary features of an efficient CRM software. Apart from these some features include reporting, partner management, task management, service automation, etc.
CRM not only helps organize the business but also helps the sales team to identify the leads. Along with that the asset libraries like email templates, database availability, and reporting help improve the eCommerce sales procedure increasing the conversions.
Also, check out – What is the impact of eCommerce Videos on Sales
Using a CRM application or software is very easy. It does not take a scientist to understand this 5-step process –
# Integrate all the online tools to CRM. These tools include keywords, contact information, analytics, and other primary aspects.
# Personalize the kind of report you need. In this case, we assume you run an eCommerce store and want to increase your sales of products X & Y this month then customize your dashboard accordingly to set the information of these products on top.
# Adding the team on CRM. All you have to do is add your marketing & sales, customer care and vendor support teams on the software.
# Track your conversions. Here, it is smart to understand what kind of automation your choice of CRM is offering.
# At last, all you have to do is train your team to efficiently use this new system.
If you check the internet for best eCommerce marketing strategies or best techniques to improve the eCommerce sales, this tactic of upselling and cross-selling will always be on the list. Both of these techniques feed on the already set mind of the customer. Even the huge platforms like Amazon, Flipkart, and eBay are using this technique.
It is not something new. In fact, in-store sales executives are already doing this since forever. Remember the time when you go to a shop asking for something and shopkeeper to start pointing on the relevant yet better similar products? Yes? Then you are sorted. With Upselling and Cross-selling for eCommerce stores, we mean the same thing.
Upselling is a tactic of selling a superior and higher-priced alternatives of what a customer is looking for wherein, cross-selling is a technique of adding on a complimentary item with the product at a lower price than it actually is.
So, if you are looking to increase your eCommerce sales, these two tactics are the most efficient ones.
Email marketing is something that we have observed every eCommerce business doing. This tactic is highly efficient is one of the best tools in an arsenal of a marketer. Unlike all other techniques, this technique allows the marketer and business owner to get into direct communication with the customers. To understand it better let’s begin by explaining what email marketing means.
Email marketing is actually a process of sending commercial emails in bulk through an automated system to potential clients. This is one of the basic and efficient means to drive more eCommerce sales.
So, if you are looking for an effective and efficient means to drive more eCommerce sales, email marketing is a must thing to include in your strategy.
Now, these are some of the techniques that have been tested and implemented by several eCommerce marketing operatives.
Now that we have an overview of the best techniques let’s see what the experts have to say about their experience of increasing eCommerce sales.
Over the years experts have tested many techniques to land more business through eCommerce. Below are some of the techniques that experts recommend.
Bill Widmer, Content marketing & SEO consultant shared his tactic of improving eCommerce sales. His tactic as he mentioned revolved around building brand awareness.
Jason Greenwood, Founder of Greenwood consulting & eCommerce manager at HealthPost NZ mentioned that he believes in building the brand authority & affinity to improve sales.
Here are the words of EYStudios CEO, Eric Yonge – “Use the full force of digital marketing to get people to your site but then make sure it is VERY easy for people to add to cart – the more buttons or steps it takes to checkout, the more likely people are to abandon their cart.”
Ecommerce business is one of the rapidly growing businesses in today’s economy. More and more eCommerce stores are coming out to play every other day. In this competitive online market, it is important to find the techniques that will help boost the sales of the eCommerce business you own. Here, in this article, we have shared some of the strategies that will help drive more potential customers on your eCommerce website or eCommerce applications. What are you still waiting for getting in touch today and bring your business online with us?