In 2022 we all believed that "e-commerce would become everything" simply did not come true.
The World Economic Forum reports that e-commerce sales have declined for the first time in history.
But what can actually be done to change this tide in 2023?
Probably you're reading this article because you own an eCommerce store and want to increase revenue. The strategies you'll find here will help you improve cash flow and increase the number of paying customers.
But before we talk strategy, it is important to remember the basics of the eCommerce game:
The above 3 steps will solve almost 50% of your problem if you follow them.
We have compiled 6 easy-to-implement solutions that will help you convert website traffic into sales and gain at least a 50% increase in conversions.
We all love surprise discounts. Don’t you?
They are on your website, that means they know your product. A small discount or reward can help them make a quick decision.
So when a visitor comes to your website for the first time, create a pop-up customized to your brand (Capture phone numbers and emails in desktop and mobile) based on the below parameters and give them a welcome discount.
What this popup does well:
With The ConvertWay, you’ll find endless ways to catch their attention and pull them into your marketing funnel.
In 2022, maintaining a predictable level of inventory had become tough and in 2023 it is going to be the same.
The supply chain issues (High consumer demand, increasing transportation costs, and lack of warehouse space) aren’t going away anytime soon.
But for a marketer, this doesn’t justify their efforts. As every click—and conversion—counts.
That can make it even more frustrating for the eager shoppers who are wondering when out-of-stock items will be back.
You can reclaim the lost revenue when the product is back in stock by following the simple steps.
Roughly 75% of shopping carts were abandoned. So, you need to make them come back and buy.
Reach shoppers while they're still in the buying mindset with Cart Abandonment and Browse Abandonment automations. Incentivize them to complete their purchase immediately by providing timely offers tailored to products they have recently viewed or added to their cart.
Let’s say you have got a Shopify store and got some basic Google Analytics setup.
So the question is are you collecting the data correctly and analyzing it to make correct marketing decisions?
Bombarding marketing promotions will only cost you but won’t give the expected ROI.
As your list grows, segmentation is key to delivering the right messages to the right audience at the right time.
Now you have learnt to segment your customer / subscriber base properly.
It’s time to send them messages they actually want to receive- from back-in-stock alerts on products they’ve waiting for to the early bird holiday sales to the VIP list subscribers.
Let’s say a buyer is searching out products to remove dark spots and there are a lot of product options available to the problem. Instead of confusing them to make a buying decision, your communication should educate them, recommend them with the best options.
Let’s say there is a buyer, who bought a Aloevera Juice Bottle a month ago. You can win-back them by sending personalized reminder messages with curated offers.
It's easier to get someone who has bought from you once to spend more money with you than it is to get new people to buy from you.
If you're selling insoles that make women's shoes nice and comfortable, your upsell could be a pack of three instead of just one.
If a buyer adds shoes to the cart, you can recommend socks that best fit the shoes.
This helps in increasing the average order value.
You can optimize it by removing the unnecessary steps and making the checkout process simple.
Ask your buyers to review their purchase and reward them for providing the review. Because 90% of buyers read reviews before buying any product from your store.
With these strategies, you’ll increase your eCommerce sales. You can use some or all combinations. With the help of The ConvertWay App, you can automate 70% of your remarketing efforts and boost your conversions.