eCommerce Tricks on How to Increase Revenue in eCommerce in 2021
I think you won’t deny the fact that:
It is a big challenge to do online business today and increase eCommerce revenue, mainly because the pandemic has prompted all stores to go online, saturating the competition’s density. Hence, you have to find a solid way on how to increase revenue in eCommerce so that you won’t drown in the saturated market.
While it is factual that it can be hard to stand out, you can still thrive and get the profits you want from your eCommerce business.
One thing you can do is find the best digital agency to help you. Nevertheless, you will have to know the work yourself if you want to make sure that the right job is done.
So if you’re looking to learn some tricks that can help you do better with your business, this article is for you. Whether you are building your eCommerce from scratch or looking for new ideas, here’s a list of proven tactics for you.
Use These Twenty Tricks to Increase eCommerce Revenue
- Display Your Customers’ Opinions About You.
- Leverage Guest Posts.
- Create Contests and Events.
- Run A/B Tests For Your Product Pages.
- Use Exit-Intent Popups to Avoid Losing More Customers.
- Save Social Media Buttons for Confirmations.
- Use Creative Non-Digital Forms of Engagement.
- Send “Buy Again” Emails to Your Customers.
- Automate Personalised Homepages for Your eCommerce Site’s Visitors.
- Incentivise Your Users to Make Referrals.
- Upsell and Cross-Sell to Your Shoppers.
- Show Evidence of Customers Shopping in Your eCommerce Store.
- Use Retargeted Ads.
- Leverage Urgency.
- Upload Rich Content on Your eCommerce Website.
- Market Smart and Leverage Holidays.
- Display Trust Badges.
- Use Incentives for Your Checkout.
- Keep All Processes Simple to Increase eCommerce Revenue.
HACK No. 1: Display Your Customers’ Opinions About You.
The first hack to increase eCommerce revenue involves your customers.
Your end-user will know the actual value of your products. Customers will be the ones who exactly know what your products are suitable for and what problems they solve.
Also, when people hearing about your eCommerce store for the first time realise that you have customers, they will automatically have a good amount of trust in you. That trust can only grow when they find that these customers are giving positive feedback about your products and brand.
Reviews and ratings are a big part of how to increase revenue in eCommerce.
Show people that you have a following because the human instinct wants to follow the crowd. If many agree that your product is excellent, those who haven’t tried will most likely give it a chance.
Statistics say that 84% of people trust reviews as much as friends. Also, 56% of consumers read at least four reviews before considering to purchase a product.
Reviews Can Significantly Increase Your Conversions.
Here’s what you can do to leverage customer feedback to increase eCommerce revenue.
Display reviews and ratings on your homepage, product pages, and social media handles. It is essential that you make it easy and convenient for customers to find customer feedback to help them decide more quickly.
Put testimonials on your site and highlight them across your website, always showing how happy people are with your brand. Display ratings in your ads and use testimonial stories in your emails.
One of the most powerful tricks on how to increase revenue in eCommerce is to find what customers are saying about your product and put those ideas on your copy. Tell your audience what good your products and brand are for using the voice of your users.
HACK No. 2: Leverage Guest Posts.
While guest posts are a staple way for you to get backlinks, they have the organic side effect of reaching out to more audiences. When you write guest posts for a website whose audience is similar to yours, you will generate more traffic to your eCommerce store.
Guest Posts Will Boost Your Leads and Help Increase eCommerce Revenue.
You need to make a list of websites that are not your competitors but have a similar audience to yours. Then, reach out to the owners and ask how you can have a guest post on their website.
These websites will usually want something in return, and you can offer that you also have their guest post on your site to reciprocate. Some websites will ask for a fee, and if your budget allows, there is no harm in going for it.
Make sure that your posts are valuable to readers. If you are selling apparel, rather than talking about your products, talk about how-tos like how to dress up for summer or pair a winter outfit but using your products.
Don’t forget to link back to your website – backlinks are crucial for how to increase revenue in eCommerce.
HACK No. 3: Create Contests and Events.
Contests and games are an excellent way for you to grow engagement and increase eCommerce revenue. They are excellent at gathering people and giving them excitement and positive feelings to associate with your brand.
Contests Can Dramatically Grow Your Mailing List.
What you can do is run a contest. Whatever game you chose, your prizes should be a product, discounts, or promo codes – and make sure nobody loses.
You don’t want the losers to feel wrong about your brand just because they didn’t win. Imagine a person who lost in your contest for the third time – that could become a forever lost customer.
Always give consolation prizes like points or a discount for a minimum purchase.
The trick to getting people’s emails here is to tell them to give you their email to send them the prize they earned. Remember that providing something for free to a willing receiver who feels deserving is one of the best first conversations you can have with leads.
These conversations are a big part of how to increase revenue in eCommerce.
HACK No. 4: Run A/B Tests For Your Product Pages.
Creating excellent product pages is one of the most steps to increase eCommerce revenue. These pages should effectively lead your customers to add-to-cart.
Figure out the perfect loading speed, design, pictures, image sizes, buttons, processes, indications, trust badge, and other elements to use for your product pages. To find the optimum combination, the best way to do so is running A/B Tests.
A/B Tests Will Help You Skyrocket Your CTRs.
HACK No. 5: Use Exit-Intent Popups to Avoid Losing More Customers.
An exit-intent popup will help you retain visitors that are planning to leave your eCommerce site, effectively helping increase eCommerce revenue. You will use a tool that tracks a visitor’s mouse movements and shows a popup when the cursor is moved outside the upper page boundary.
Exit-Intent Popups Dramatically Decrease Bounce Rates.
Experts estimate that you can save 5-10% more conversions when you use exit-intent popups and target them successfully. While this is the case, you should keep in mind that these popups are the last resorts for your eCommerce store.
You want to optimise your site very well so that most of your visitors won’t have to see your popups. Nevertheless, you must use them as a contingency to ensure nothing is left to chance.
The best content for your popups would be a discount offer to incentivise visitors to stay on your site or give you their email. Remember that everyone loves freebies.
You can say something like, “before you leave, we would like to give you a special offer – here’s 20% off your first three items if you shop within 24 hours” or “before you go, we want to gift you a promo code you can use next time you visit – leave your email address here so we can send it now”.
You can use the following tools for popups on your eCommerce site.
Side note: Getting the right tools is a vital part of how to increase revenue in eCommerce.
HACK No. 6: Save Social Media Buttons for Confirmations.
When you advertise to a consumer, you are pulling their heartstrings and appealing to their emotions – you give them a feeling that they need something, leading them to find satisfaction. You are pointing to your product as the thing that will satisfy them.
You can leverage the ripple effects of satisfaction to increase eCommerce revenue.
Satisfaction is part of the human reward system, and whenever a customer finishes a purchase, they associate good feelings with the act of completing that transaction. Getting what you want feels good.
What’s a better time to ask something from someone other than when they feel good?
Remember that social share buttons can distract customers who are reading product pages. The optimal time to encourage sharing is when a purchase is confirmed.
Customers who completed a purchase were confident buying the product and are more likely to express and share their excitement on social media.
Confirmations are Excellent for Getting Shares and Leads.
After a purchase, in your relationship with the customer, you become the perceived provider, and the receiver will be highly willing to share with others the happiness you have given. Request your customer to share their purchase by placing social media buttons on order confirmations.
Getting leads via social media shares are excellent for how to increase revenue in eCommerce.
HACK No. 7: Use Creative Non-Digital Forms of Engagement.
Today’s highly digital heavy market have given plenty of consumers email fatigue. The pings and notifications here and there have turned into white noise for many people.
If you keep on sticking to the regular newsletters, ads, and other digital reach outs, you will be “just like other companies” and won’t be able to increase eCommerce revenue. You have to think beyond the box to stand out to your audience.
If you are looking at how to increase revenue in eCommerce, it would be best if you wrote your customers handwritten letters and printed ask cards from time to time.
Non-Digital Engagement Will Fortify Your Relationship With Audiences.
For consumers, receiving a card or handwritten letter is more exciting than being notified by another company email.
You can send professionally designed cards that ask your customers to share product pictures and use a hashtag on social media. You can incentivise them with a promo code once they do it.
Handwritten letters are best used for birthdays, first purchases, thank you notes and other significant points of your relationship with a customer. One cheat you can do is hiring someone with excellent penmanship.
HACK No. 8: Send “Buy Again” Emails to Your Customers.
Your returning customers highly valuable as they are twice as likely to place add-to-cart, will not quickly bounce, and convert almost twice as much as new customers. Knowing this, it’s crucial that you do everything you can to get customers to keep on returning to your store and increase eCommerce revenue.
“Buy Again” Emails Will Increase Your Conversions.
If you are looking at how to increase revenue in eCommerce, here’s an easy hack for you.
Send your first-time customers an email 10-15 days after the purchase, inviting them to return for another purchase. Please include a link to the product they got last time and links to supplementing or related products.
You can add a discount offer or a free item when then they purchase. Make it sound unique, exclusive and urgent.
Here are top tier free email automation tools you can use to growth hack eCommerce.
HACK No. 9: Automate Personalised Homepages for Your eCommerce Site’s Visitors.
The modern consumer has become tech-savvy, and their expectations have increased. Knowing today’s technology’s power and capability, they are looking for more than a simple online store.
You have to keep up if you are to increase eCommerce revenue.
Many consumers today prefer it when sellers curate a shopping experience that is individualised to their specifications. When you are personalising your eCommerce website’s homepage, you provide buyers with a specialised shopping experience.
Personalised Homepages Give Your Visitors a Significantly Better User Experience Leading to Excellent Conversions.
If you are looking at how to increase revenue in eCommerce, it would be wise for you to use tools to track user behaviour and customise your eCommerce shop’s content to fit each customer precisely. You can set up your homepage to automatically highlight a product that a buyer has been viewing but didn’t add-to-cart during their last visit.
One excellent tool to use is Optimizely.
When you present shoppers the exact products they are interested in, your homepage will effectively drive them to make purchases.
HACK No. 10: Incentivise Your Users to Make Referrals.
78% of B2B eCommerce marketers confirm that referral programs will allow you to get good to excellent leads. 60% agree that you will generate a high volume of leads when you run referral programs, and 54% confirm that doing so presents a cheaper cost-per-lead than other channels.
Referrals Will Bring You Leads to Convert and Increase eCommerce Revenue.
Tell your costumers to refer your products to a friend. In return, incentivise them with a freebie or discount.
To ensure you have an excellent eCommerce referral campaign, you can always reach out to some of the top digital agencies.
If you are looking to increase revenue in eCommerce, you should also campaign for referrals.
HACK No. 11: Upsell and Cross-Sell to your shoppers.
Most shoppers are on your eCommerce site looking for one item. However, it doesn’t mean that you can’t influence them to buy more things to increase eCommerce revenue for you.
If you are looking at how to increase revenue in eCommerce, it would be best to not merely set for a single item order. Drive more extensive sales using the following sales techniques.
- Cross-selling is when you convince customers to buy additional complementary products.
- Upselling is when you convince buyers to upgrade a purchase.
Cross-Sells and Upsells Will Increase Your Income.
Buyers who are ready to buy are set and interested in your product and brand as they order. They are in the perfect state to influence with a cross-sell or upsell.
You can easily influence excited customers to agree that they can increase their purchase value with additional items.
HACK No. 12: Show Evidence of Customers Shopping in Your eCommerce Store.
Youn can significantly motivate buyers to shop in your store and increase eCommerce revenue by using social proof. Drive shoppers to shop more with you by showing them what other customers do on your eCommerce store at the moment.
When you highlight live customer interactions, you give your business additional credibility. Show live notifications and updates about purchases and customer service assistance to provide shoppers with proof of how excellent and helpful your eCommerce store is.
A tool like Fomo easily allows you to add notifications and updates of live customer interactions on your eCommerce site without any coding skills required. You can integrate the tool with Google Analytics and measure the ROI of showing these live interactions on your site.
If you are looking at how to increase revenue in eCommerce, you have to show your visitors solid examples of customers making purchases.
HACK No. 13: Use Retargeted Ads.
When you retarget ads, you can capture visitors who didn’t purchase before and left your website. You can get them back to buy and you can increase eCommerce revenue.
This eCommerce growth hack works by tracking users who visit your store and then displaying your ads on other sites that they visit.
These ads are powerful because they present products that fall under the target’s preference. When consumers see exactly what they hoped to buy, he/she will feel motivated to return to your eCommerce store and get through with their purchase.
If you are looking at how to increase revenue in eCommerce, you must place all contingencies for lost visitors to return for another chance for conversions.
HACK No. 14: Leverage Urgency.
People don’t want to miss out on limited products – it makes them feel like they are not part of something. Leverage the FOMO to increase eCommerce revenue.
Using Urgency in Your Marketing Will Give You Fast Conversions.
If you are looking at how to increase revenue in eCommerce, use the following statements or other similar ones on your ads, product pages, and portions of your homepage where you highlight products.
- Pre-order until MM/DD/YYYY to get 30% off of your order.
- Order within 15 minutes to get an additional 10% discount for your coupon.
- We’re giving away free bags for the first 100 customers.
- Limited edition hot sauce using seasonal ingredients. Only 1000 bottles available – order now!
HACK No. 15: Upload Rich Content on Your eCommerce Website.
Become a reliable source of vital information around your products and related interests for your audience to increase eCommerce revenue. With rich content, your users will keep on coming back to your site for more reasons than buying, but since you are a point of trust, it will be easy for you to persuade people to buy when they visit.
Produce blogs, videos, podcasts, and other media to establish your authority on topics revolving around your products and other similar interests.
Excellent Content Will Get You Traffic and Improve How to Increase Revenue in eCommerce.
Here’s an expansive blog article for example.
Establish your expertise and proceed to create e-books out of your best content. You can use that e-book to give away in exchange for any action you want.
One thing you can do is build an email list off of an e-book giveaway. Nurture that email list with topics around your e-book for deeper engagement.
HACK No. 16: Market Smart and Leverage Holidays.
Consumers are ready to make plenty of expensive purchases during events like Christmas and Black Friday.
Holidays are Gold Mines to Increase eCommerce Revenue.
You want to be able to encourage users to shop even further through seasonal store campaigns. If you are looking at how to increase revenue in eCommerce, it’s crucial for you to be ready to take advantage of the opportunities holidays present.
Campaigns are typically centred on promotions, but there are more ways for your eCommerce store to get seasonal shoppers’ attention. For example, you can get buyers excited by using holiday-inspired packaging for your products or add seasonal holiday-themed items.
HACK No. 17: Display Trust Badges.
Many people look for trust badges first before shopping. They are a sure way to tell a user that it is safe for him/her to transact money over your site so you can increase eCommerce revenue.
Trust Badges Will Increase Your Conversions.
People will be sceptical about typing in their card details if you have a relatively unknown trust badge. A big part of how to increase revenue in eCommerce is choosing one that is trustworthy for your audience.
Place them on your footer, product pages, and checkout.
HACK No. 18: Use Incentives for Your Checkout.
Cart abandonment is one of if not the most painful and prevailing problems for growth hacking eCommerce stores. About 70% of users abandon their carts and leave at the first checkout page.
A big part of how to increase revenue in eCommerce is mitigating cart abandonment and improving checkout rates. You can use incentives to drive the conversions you want.
Incentives Will Increase eCommerce Revenue.
You need to push buyers along the checkout process to finish their transaction.
Incentivise your shoppers by offering coupon codes that they will have to enter on the last checkout page.
Here are some tips for you.
- Your special offers should be made widely accessible. Send discount codes to as many shoppers as you can via emails, ads, and other channels.
- Create a discount code for every sale. Attach a code to your promotion to drive shoppers to get through to the final checkout page.
Coupon codes allow you to reward your customers with lower shopping costs and give your eCommerce store the conversions you want.
HACK No. 19: Keep All Processes Simple to Increase eCommerce Revenue.
The following are essential staples to have on your site if you’re looking at how to increase revenue in eCommerce.
- Simple Navigation
- Easy to Understand Menus
- Fast Loading Speed
- The Last Fields Possible – Especially on Checkout
- Guest Checkout
- No-Distraction Checkout Page
- As Much Payment Options as Possible
- Free Shipping
HACK No. 20: Make Sure of Your Product Quality.
No matter how excellent you market or build your eCommerce website, your first conversions will be the last ones if you have lousy products.
If you want to increase eCommerce revenue, you have to make quality products.
Remember that the primary doctrine for business is to provide quality products and then gain profit from doing so – not the other way around.
Excellent production is a big part of how to increase revenue in eCommerce.
Growth Hacking eCommerce Differs From One Business to Another.
It would be excellent if you kept in mind that each business has a different specification from another, and there are approaches that you must customise for them to work.
While you might need to tweak some strategies, the eCommerce growth hacks in this substantial list are fundamental and vital tips that you can use as a springboard for your digital marketing.
Whether you are figuring out how to upgrade your existing eCommerce website or are looking at how to increase revenue in eCommerce from scratch, use this list as a checklist for things that will get you results.
Implement these practices and earn up to increase eCommerce revenue within a few months.