4 Simple Growth Ideas To Increase Your Ecommerce Sales Today

With 51% people buying products online and the global e-commerce revenues expected to touch 27 trillion USD by 2020, the promise of the e-commerce industry is rightly luring millions to offer products and services online.

However, due to rapidly increasing competition and fast evolving customer preferences, it is becoming exceedingly challenging for brands to set themselves apart and hit their preferred sales targets.

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Fortunately, there are a few simple growth ideas that are easy to implement and can skyrocket your sales figures.

Four of the most effective sales growth tactics have been outlined below:

1. Upsell :

Upselling is a sales technique whereby you offer your customers the opportunity to buy upgrades or related product that are in line with their original purchase. This technique is based on the age old maxim that it is much easier to sell to an existing customer than to acquire a new one. Upselling has been found to be 20% more effective than cross-selling.

To use upselling to increase your sales, begin by jotting down all of your products and then connect them to similar and related products. Remember that the underlying aim here is to boost sales by offering products that add value for your customers, cater to their original need or improve their user experience.

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This by no means involves offering products that are more expensive as it might lead to friction with customers who usually have an anchor price in mind. Therefore, while pitching related products, try to be sensitive to your customers’ price range.

You can also abide by the time-tested 60*60 rule that upholds that customers tend to accept an upsell offer 60%of the time if it is 60% of the price of their original purchase. Then, you need to publish your offers by either placing them on your product pages like Amazon or on your checkout page.

Find: Tweaks to Your Landing Page to Increase Conversion Rate

You can also use post-purchase automation like the one used by Paper Style to upsell your products, attain customer feedback and stay in touch with your customers. Paper Style was able to increase its revenues by 330% by sending out a ‘pre-wedding’ chain of emails that recommended related products and walked brides through their wedding planning process. You can also offer:

  • Bundles and extended warranties similar to Amazon.
  • Quality discounts like Vistaprint.
  • Upgrades like GoDaddy.
  • Complementary products like Phoenix Pendant.
  • Instalment plans like GetResponse.
  • Add-on services like Chipotle.

2. Capitalize on Social Media :

Platforms such as Instagram and Facebook have transcended from being means of connecting with friends on two of the most inexpensive yet impactful modes of reaching customers. The importance of Instagram in increasing sales revenue can be gauged from the fact that the average value of an order via Instagram marketing has been found to be around 65 USD.

Moreover, Instagram also offers brands 25% more customer engagement than any other social media website. It is due to these reasons that it is imperative that you capitalize on Instagram in order to market as well as sell your offerings.

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To do this, you can use hashtags, filters, frequent postings, run campaigns and contests as well as encourage user-generated content. Here is how Fit Little Bride uses user-generated content as social proof of its social credibility:

capitalize social mediaFacebook is yet another platform that you must utilize as it takes the lion’s share when it comes to orders placed via online platforms. This is due to the fact that it offers services like Facebook Advertising and Exchange that are extremely effective in retaining and acquiring customers and reducing cart abandonment.

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These tools become particularly effective if used in collaboration with one another as was revealed in a study that analyzed1.2 million USD in e-commerce sales. The study found that individuals who entered the remarketing pools of Facebook Exchange after viewing a Facebook ad bought 98% more in sales than those who entered via other channels. Here is a brilliant example of a Facebook store by Southern Swim:

swim

3. Encourage Repeat Purchases :

Customers that have already purchased your product are much more likely to buy from you again. It is for this reason that a mere 5% increase in customer retention has been found to catapult profits by 95%.

If you wish to draw your customers in for repeat purchases you need to first identify your most profitable customers. Then, try to re-activate them via tools like email and social media marketing, free shipping facilities and free coupons among other things.

A recommended approach is to reach out to customers with well-crafted transactional emails as they offer an average revenue that is 2-5 times higher compared to bulk emails. WineLibrary, for instance, keeps its clientele engaged by sharing promotional offers via emails and Madcloth uses its Facebook page to offer its followers exclusive discounts in an attempt to trigger repeat purchases.

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4. Flaunt Product Reviews :

E-commerce websites lack physical presence and, therefore, need to go an extra mile to instill a sense of trust in their customers. When it comes to increasing credibility online, few tactics will benefit you as much as prominently displayed product reviews on your website.

The reason for this is that they provide social proof to prospective customers and also improve your website’s SEO, thus, allowing you to instantly boost your conversion rate by 14-76%.

Learn: Do You Know Where All Your Conversions Are Going?

You can also increase profitability by simple tweaks to your website such as optimizing your cart and checkout page process. These simple ideas will help you increase your sales as well as sustain them in the long run.

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ABOUT Erica Silva

Erica Silva is a blogger by choice. She loves to discover the world around her. She likes to share her discoveries, experiences and express herself through her blogs.

Find her on Twitter:@ericadsilva1