2023 September 05 Archive - EXEIdeas

The global eCommerce market size reached US $16.6 trillion in 2022 and is expected to reach $70.9 trillion by 2028, manifesting a Compound Annual Growth Rate (CAGR) of 27.38 percent from 2022 to 2028, claims the International Market Analysis Research and Consulting (IMARC) group.The sector is booming, and the latest technologies might change how we perceive eCommerce. The world is going through an Artificial Intelligence revolution. So, how do all these things add up when selling your product or service online? The list is never-ending. Target audience, customer experience, social media, gamification, video marketing, optimization of conversion rate, and whatnot.Whether you are selling clothes, utensils, gadgets, sports equipment, books, or even software, revenue is the core concept that motivates marketers to become creative. This article will highlight how to boost your eCommerce sales and drive revenue.How To Boost Your Ecommerce Sales: 6 Proven Strategies:Unlock the secret to skyrocketing your e-commerce sales with these 6 battle-tested strategies to increase conversions and pave the way to profitability.1.) Tailor Your Customer Experience:Whether you’re a traditional salesman or a digital sales enthusiast, the customer is always right. Customer Experience (CX) is a perception of your brand based on people, products, and services. In eCommerce, CX is super important as people expect convenience, support, and quality while shopping online.Imagine you called or messaged someone to purchase a life-saving drug, but they responded a few days later. As a consequence, you lost a very important person. This is how crucial a quick response is in an emergency situation. In eCommerce, losing clients is equivalent to losing a loved one. These are the few steps you can take to tailor customer experience:Optimize your website: Streamline your website’s navigation, improve load times, and optimize product pages for higher search engine rankings, ensuring a seamless and user-friendly experience that encourages conversions.Leverage social media advertising: Harness the power of targeted social media ads to reach your ideal audience, drive traffic to your online store, and boost sales with compelling visuals and persuasive ad copy.Implement abandoned cart recovery: Reclaim lost sales by setting up automated email reminders and incentives to entice customers to complete their purchases, effectively reducing cart abandonment and increasing revenue.Offer personalized recommendations: Utilize customer data and behavior analysis to deliver tailored product recommendations, enhancing the shopping experience, and enticing customers to make additional purchases.Enhance customer support: Provide exceptional customer service through live chat, quick response times, and personalized assistance, fostering trust, loyalty, and positive word-of-mouth, resulting in increased sales and customer satisfaction.2.) Use Email Marketing To Build Relationships:Email marketing is an underrated tool and skill that can lead you places. While conventional e-mailers are dead, hundreds of new techniques exist to engage your customers via emails.Interactive emails using the AMP(Accelerated Mobile Pages) Framework are the future of e-commerce. With AMP, you can add interactive elements like forms, carousels, accordions, and more to your email in the Gmail web app. Hence, you can create a dynamic email experience that influences your target audience to take action.Why Don’t People Like Being Redirected To A New Tab?Imagine checking your inbox and accidentally clicking an email redirecting you to a malicious website. What would be your reaction? For the same reasons, people prefer to avoid being redirected to a website they are unaware of. Other reasons could be:It takes effort to click on a link and then complete tasks.They don’t want to affect their browser’s performance and speed.Emails can interrupt users’ flow while they are searching for something important.They don’t have enough time to complete surveys or react by adding a new tab.How To Utilize The Power Of Email Marketing To Boost Your Sales?Email marketing platforms like Mailmodo help you customize your emails by adding unique elements. Then, increase your open rates, save time, measure your performance, and provide an optimized solution. Here’s how you can utilize the power of email marketing:Define your email marketing goals and strategy: Nothing is better than having a clear idea of your goals and how you plan to do them. You can use the SMART framework to set specific, measurable, achievable, relevant, and time-bound goals. You can also use the RACE framework(Reach, Act, Convert, and Engage).Understanding your audience’s needs: Pain points are crucial for creating email content. You are losing them if you are not personalizing your emails using data-driven strategies and not providing an adept solution for your audience.Create a brand voice: Only you can communicate your USP. Tell them how your USP can change their lives. For instance, your food-delivery app can serve anything within 15 minutes.Use AMP Framework smartly: Designing attractive and responsive email templates can help you generate quality leads.Build an opt-in email list: You need to create and grow an email list of people who have permitted you to send them emails. You can use incentives like freebies, discounts, or valuable content to persuade them to sign up for your newsletter.Creating a persuasive email copy: Writing is hard, and writing an attention-grabbing, persuasive, and motivational email copy is harder. You need to know a lot about the psyche of your consumers before creating an error-free, high-conversion email copy.Measure your email marketing performance: Key metrics such as open rates, click-through rates, and conversions help you decide your campaign’s fate. There are tools, and you need to know how to use them. Check out how Mailmodo helps all types of businesses with email marketing tools.3.) Use Gamification To Boost Customer Engagement:Who doesn’t love to play games? Your customer could be a 40-year-old man or an 18-year-old kid. Should both customers need a similar marketing approach? The answer is no. Email and social media content must be customized according to customers’ needs.Gamification incorporates game-like elements into a non-game context to enhance engagement and motivation. In eCommerce, you can improve the customer experience and boost sales by incentivizing interaction, creating fun experiences, and a sense of ownership over the brand’s productsAs a customer experience specialist, you can include levels, badges, points, rewards, or leaderboards to gamify your emails or applications. These techniques come in handy to motivate and persuade customers to buy the product or leave a positive review.Why Do You Need Gamification?Though the paragraph stated above explains most of it, here are a few reasons why you should consider gamifying emails for your eCommerce business:Increase your email open rates and click-through rates.Provides your customers with an engaging and interactive experience.Boosts customer engagement gradually.Creates awareness about your brand.Drives cross-channel engagementStrengthens customer relationshipIncreases customer retentionGenerates higher revenue4.) Upsell And Cross-Sell:As an eCommerce store owner, you must know two techniques that can help you increase your sales exponentially. Upskilling and cross-selling are two techniques that can increase your average order value and revenue in eCommerce.What Is Upselling?When you offer customers a higher-end or more advanced version of the product they’re already considering or have already chosen, this process is often called upselling.What Is Cross-Selling?Upselling and cross-selling are often used interchangeably. However, both are different. Cross-selling involves suggesting complementary or related products to the one a customer is considering or has already purchased.Imagine you’re a cafe owner, you can upsell by offering a huge cup of tea or coffee, or you can cross-sell by suggesting that they try your croissants, muffins, or pastries.How To Apply Upselling And Cross-Selling Techniques?Easier said than done. Upselling and cross-selling are optional for any salesperson. However, here are some examples of how to use upselling and cross-selling techniques:Product recommendations: You can cross-sell by suggesting products that complement the customer’s purchase. For instance, As an electronics manufacturer, you can sell a set of headphones with a smartphone.Discounts: Giving customers discounted prices on complementary products can encourage customers to buy more.Bundles: You can suggest they buy bundles of products at economical prices.Loyalty programs: You can offer rewards for repeat purchases to encourage them to buy more.5.) Leverage Paid Traffic:You must be aware of social media advertisements like Facebook, Google Ads, and Instagram Ads. But do you know how to use them? SmartInsights says organic and paid search blend makes up 80% of all trackable website visits. Interesting! Isn’t it? But how can you apply the right paid advertising techniques to expand your eCommerce business?4 Paid Strategies To Boost Your E-commerce Business:As a business owner, you might use more than these four techniques to build a successful eCommerce business. However, these four are the most effective:Defining your target audience: Before even considering running ads, you need to define your target audience. It will help you draft more relevant ads for your audience and increase the chances of high CTR.Creating effective ads: The ads should be attention-grabbing, generate curiosity, and inspire action. Here’s how you can do it:Creating a crystal clear and attention-grabbing headline, communicating the value of your product or service.Using the relevant image with a high-quality resolutionYour ad copy should be concise, highlighting the benefits of your product or service.Your Call-to-Action(CTA) should be clear and encourage users to take action.Creating optimized landing pages: Your landing page should match your ad’s message and offer a clear USP and CTA for better conversions. Besides, they should be optimized for mobile devices and load quickly.Monitor and optimize your campaigns: Data is king. You should monitor your campaign’s performance regularly and make adjustments as needed. You can use hundreds of data analysis tools to enhance your performance.6.) Optimize Cart Abandonment:Cart abandonment is common. You have an impulse to buy something, you visit your favorite eCommerce website, and then realize that it’s better to save your money. We can use “n” several strategies, but it is one of the unresolvable issues.According to 2023 figures, eCommerce companies lose $18 billion yearly due to cart abandonment. You can use analytics tools, email reminders, surveys, and other research methods to understand and reduce cart abandonment.How Can Video And Email Marketing Help You Reduce Cart Abandonment?There are plenty of techniques to help you reduce or optimize cart abandonment. For instance, the eCommerce video platform, Videowise, can help you increase engagement through shoppable videos, which leads to increased conversions. 84% of people felt convinced to buy a product or service by watching a brand’s video, Wyzowl claims.Email marketing and automation also help in reducing cart abandonment. Products like Mailmodo allow you to shop via AMP for email rather than going to a browser to complete the transaction. It minimizes distractions and makes the conversion process much smoother.Wrap Up:The #1 tactic for how to boost your ecommerce sales is through an eCommerce video platform, for interactive marketing and campaigning. Embed your interactive videos directly into your product pages, email campaigns, and social media channels.No more friction or complex technical hurdles. With just a few clicks, you can captivate your audience across multiple touchpoints, ensuring a consistent and immersive brand experience that drives sales at every step of the customer journey.About the Author:Mashkoor Alam has always been passionate about writing. He used to write short stories on his blog before he started writing for SaaS companies years back. He aspires to create content that connects with the audience and have a book under his name someday. He also works for Mailmodo.Find Me On LinkedIn