One of the biggest changes that have happened in the world of business has to do with more enterprises creating their online presence.
As a bigger number of shoppers now prefer to shop online, in order to thrive and survive, businesses are getting on various online platforms. If you don’t have one already, it’s about time you created your own website. And once you’ve set it up, you may want to look into the different ways on how to make your eCommerce site more effective, competitive, and profitable.
The truth is, if you want your eCommerce site to become more profitable, you can’t keep using the same strategies you’ve turned to in the previous years. You have to adapt to the changing metrics and standards in digital marketing.
Here are four actionable tips to make your eCommerce site more profitable:
1. Master the art of email marketing
Among the most effective forms of marketing today is email marketing. As its name implies, you inform your subscribers regarding promos, discounts, special offers, and relevant information by sending them emails.
A good way to get the email addresses of your customers with their consent is by having pop-up forms or this WordPress table plugin on your website. You can ask your customers to fill out the form if they’re interested to stay in the loop with your latest offers.
These are some of the ways you can become a better e-mail marketer:
- Identify what your goals for email marketing are so you can check whether your email campaign is well suited to achieve them.
- Through your emails, show customers that you care about their concerns.
- Choose the right tools so you can automate your email campaigns.
2. Research your competition
Monitoring your competitors is another effective way to make your eCommerce site more profitable. This isn’t to say you’re going to follow everything your competitors are doing. Rather, the aim is to learn from the tactics they’re employing. If you’re able to identify your competitors’ shortcomings, use that information to offer or do what they can’t.
Thoroughly researching the competition is all the more pressing now that there are so many eCommerce businesses popping up. You have to know what you’re up against and be able to identify your edge so you can make your mark in your chosen niche.
Here’s what you should look into when conducting a competitive analysis:
- Customer reviews so you can get insights on the strong and weak points of your competitors based on what their customers have to say
- Website features like the website design and layout as well as search tools
- Email marketing approaches such as sending out promos, gifts, and newsletters
- Customer experience elements like customer support and user-friendliness
- Marketing tactics such as the types of promotions done and frequency of discounts
3. Improve your payment gateway
If the modes of payment on your website are limited, you should improve your payment gateway. Doing so will make your products accessible to a wider range of buyers.
For example, don’t just focus on credit and debit card payments. There might be some who prefer platforms like PayPal or bank transfer. There could also be other customers who prefer cash on delivery (COD).
Now’s the best time to upgrade your payment gateway given that so many more shoppers are buying online. There are numerous individuals who tend to choose a particular business to purchase their needs from based on the availability of their preferred payment option. The more choices you can offer, the more attractive your business becomes to customers.
4. Post more videos on your website
Among all the types of buzz-generating content, videos usually make it to the top nowadays. The enduring popularity of YouTube and TikTok should be enough to prove that fact. There are a lot of Internet users who prefer watching videos because they’re entertaining, easy to digest, and fun.
So to improve your eCommerce website’s visibility, it helps to have videos on it, too. These can be anything related to your products. Perhaps you can show product teasers or some of your customers conveying how the goods you’re offering were able to help them.
If you’ve already taken advantage of marketing campaigns involving the usual graphics yet you know that you still have more growth potential, then it’s worth looking into putting more videos on your website.
The future of eCommerce is here and now. Given the increasing need of shoppers to purchase goods and services via the Internet, online shopping may just become the main form of shopping soon enough. It’s time for you to catch up and improve your eCommerce website so you won’t fall behind the competition. Take the tips above as your guide on how you can effectively enhance your eCommerce website to boost your business’ profitability.