For many entrepreneurs, achieving e-commerce success is a pipe dream. Many have struggled for years, but only a few have succeeded in creating a sustainable e-commerce business. What could be the problem?
Every week, there seems to be a cutting-edge way to generate sales or a new buzzword defining a new way to measure e-commerce success. What seems to be lacking is a defined path that leads to a sustainable online business that is growing in revenue month after month.
Below are 3 important e-commerce tactics that you can use as a guide to direct you along the path to e-commerce success.
Don’t just build a store, build a brand
Your brand is the expectation a customer has of your business. It is what customers associate your business with, for example, we associate Apple with elegance and ease of use. Your brand allows you to foster long-term relationships with your customers.
When building your store, you have to think how everything from your business name and company logo to the theme of your site affects your customers’ perception of your products. Focus on building a brand that is not only recognizable but also appealing to your target customers.
Scale the tactics that are working to optimize your e-commerce conversion rate
There are many conversion rate tactics. The mistake that many e-commerce entrepreneurs make is trying to enact too many at the same time. This includes seeking to cover as many marketing platforms as possible. The result of this is that you will spread yourself too thin and waste time on tactics and platforms that do not bear results.
You need to figure out which tactics are working for your business and focus all your attention on exploiting them.
Know the psychology of sales
Conversion rate, customer acquisition cost, and your site load speed are some of the variables that you need to improve if you want to generate more revenue. This requires some knowledge of the psychology of sales. Here are some tricks for using psychological triggers to influence your customers to buy your products.
- Include social proof such as testimonials and user reviews
- Offer timed discounts and feign scarcity of key products
- Offer great warranty and an easy to return process
- Bundle products and use price anchors to increase your average order value
To boost your revenue in the shortest time possible, you have to approach growth strategically in your e-commerce venture.
Be sure to focus on the above strategies to increase your bottom line.
— High Risk Holdings (@HighRiskHolding) 23 de junio de 2017