Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.
The history of ecommerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web—or “ecommerce” as we commonly know it today.
With all these being said let’s now dive in to getting more sales for your eCommerce business
4 Ways to boost eCommerce sales.
Please note that the process of building a good eCommerce site can be broken down into four stages:
- The preparatory stage, which includes the things you need to do before you start customizing your e-shop, including buying and registering a domain name;
- The framework stage, where you choose the right theme for your e-store, if you’re using a CMS but if you don’t want a CMS you could hire a web developer to get you custome e-store or even build it yourself if you have I.T knowledge.
- The building stage, where you create and customize your eCommerce store;
- The getting paid stage, where you connect a payments processor to your online shop and set the prices.
Before we proceed i would also like us to know that your e-store must be mobile responsive as this will help reduce your bounce rate and bring more visitors which can later become customers also considering the fact that 60% of millennials mostly access the internet with their phones.
Target Your Existing Customers
If you’re experiencing growing issues, don’t jump straight to acquiring new customers. Instead, try to retain the customers you already have. But if you’re just starting out as a new business it’s better to acquire new customers first then retain them.
Acquiring new customers is great, but it is also a more expensive strategy. Loyal customers, on the other hand, already know your brand and are familiar with your products.
Compared to new customers, loyal customers:
- Have a higher conversion rate.
- Add more items to their shopping carts.
- Generate more revenue every time they visit your website.
Optimize Your eCommerce Website for Mobile
Like i stated before your e-store must be mobile responsive as this will help reduce your bounce rate and bring more visitors which can later become customers.. Research has shown that 40% of smartphone users have used their phones to shop online. In addition, more than 60% of millennials shop on their smartphones.
These numbers should be enough to show the importance of optimizing your e-store for mobile. If your site still isn’t mobile-friendly, that might be one of the main reasons you’re not seeing an increase in sales.
Accept Different Payment Methods
If you only accept MasterCard and Visa, you’re probably turning away many potential customers. You don’t want your customers to get frustrated because you don’t take their preferred payment method. If this happens, they are very likely to abandon their cart without completing the purchase.
Learn to adapt to trends like Stripe, Apple pay, PayPal and other crypto-currencies like Bitcoin, Dodgecoin and so on.
Offer Discounts and Promotions
Everyone loves getting a good deal, so this is a great way to boost sales. If you’re worried about stagnant sales, use this good old strategy: raise the base price for each product and then put everything on sale. Sitewide.
You should also up your promotions during holidays. People are ready to buy presents for their loved ones and spend more money, so you need to actively promote holiday sales. In addition, many people avoid the packed shopping malls and choose to shop from their homes so you can use this to your advantage.
Let us know your take on this topic, what methods increased your eCommerce sales