Looking to Improve Your Ecommerce Sales? Here Are 7 Simple but Proven Tips
by CashOctopus • October 23, 2019
Ecommerce comprises of electronic platforms that are used to facilitate business transactions. Millions of people around the world log into virtual markets on the internet as they look for different types of information, music, news reports, services, products, online shopping and more.
Each person in Singapore seeks something that they want to get or purchase online rather than physically transacting with another entity. This is a major factor for businesses because they can easily find and access users who have specific needs.
Growth of ecommerce
Ecommerce is the short form of electronic commerce and it generally refers to business transactions that are performed on the internet. Online buying and selling are popular aspects of ecommerce but the world of electronic commerce consists of other activities as well. Any type of business that is conducted electronically can be regarded as ecommerce.
- Both technology and online users play a significant role in the growth of ecommerce. Technological advancements provide the basis for business transactions and the growing number of online consumers is enabling the development of ecommerce.
- Ecommerce has rapidly evolved into a major component of both small and large businesses, with many depending on online procurement and sales on a global scale. It has enabled them to gain widespread access to markets around the world and drastically reduced the cost of buying and selling. The ecommerce selling model and approach have been beneficial to numerous sectors, including hospitality, airlines, banking and insurance.
- Several platforms and technologies enable ecommerce to function and it continues to be an amazing aspect of daily life that makes it possible for people to buy, sell and carry out lucrative transactions with just one click of a button.
Government agencies, suppliers, vendors, businesses and customers can all be involved in the transactions. Ecommerce continues to experience impressive growth since the introduction of the internet as a vehicle for commercial purposes. Advantages of ecommerce include reducing costs, streamlining business operations and getting rid of geographical and time restrictions.
Benefits of setting up ecommerce shops
The act of selling products or services online rather than through a brick and mortar establishment has transformed the global marketplace over the years. This relatively new form of trading is associated with a number of worthwhile benefits.
Top benefits of setting up ecommerce shops include increasing the capacity for deliveries and products, lowering rent and maintenance costs, gaining more customers via visibility on search engines and addressing geographical challenges.
The internet is arguably the most important aspect of modern society as it governs virtually everything from the way businesses are conducted to education and political discussions. This is why it is not surprising to observe the advantages that come with switching from brick and mortar to ecommerce.
- Along with getting rid of the long waiting lines that are common at physical locations around Singapore, an ecommerce website enables individuals who have limited access to urban areas to access stores remotely. This makes it possible for ecommerce to open up new markets and prospects for businesses while developing business models that effectively expand the consumer base.
- Businesses that depend on search engine optimization can drive more organic traffic to their sites through online consumers who use search engines to find what they need.
- Eliminating the necessity for physical locations helps businesses save a lot of money on maintenance and utilities. Additionally, since there is no restriction on the number of things that can be sold online, stores can expand their stock and remain open throughout the day in order for consumers to be able to browse through items at any time.
- Ecommerce makes it much easier for businesses to grow because there are no physical limitations such as storage space.
- It is easy for electronic commerce merchants to customise and automate emails and use different methods to monitor how consumers respond and behave.
- Procurement is more affordable and faster due to the interlinked supply chain, which lowers costs further and minimises accounting errors.
- Ecommerce enables businesses to monitor logistics and diversify by selling slow-moving products unlike traditional retail that emphasizes on fast-moving products.
Tips for improving ecommerce sales
Improving ecommerce sales is beneficial for any company, whether one as been in business for many years or is starting a new business. However, it is normal for businesses to go through declining stages or stagnation. There are a number of valuable tips for companies that are struggling to acquire more customers and increase sales.
1. Existing customer base
Businesses usually automatically think that they do not have enough customers when their enterprises stop growing. Rather than focusing on acquiring customers, it is important to consider customer retention and the strategies that can be used to achieve it. Loyal customers are vital for an ecommerce website.
Getting new customers is important but it can also require a costly strategy. Targeting the existing customer base is more cost-efficient because they already know the brand and how to use the services or products. Loyalty programs can be used as incentives to encourage people to make more purchases.
No wants to shop on a site that appears to lack credibility or trustworthiness. Ensuring that that the site is secure is an important step. Shoppers are concerned about cyber security and want to be assured that they are safe when shopping online. Make the required adjustments to guarantee customers that their information is secure. Security icons should be displayed to enhance public perception.
People enjoy watching videos and video is a marketing tactic that offers a good return on investment. Users are more likely to spend a longer time on sites that have videos. They can increase engagement and interest among users. From ads to product demonstrations, videos can be used in various resourceful ways.
Testimonials and reviews are good ways to showcase the effectiveness of products. However, faceless and nameless people may not be convincing enough. Adding photographs shows that there are real people involved rather than imaginary individuals.
5. Optimizing for mobile devices
Business owners need to consider customers who shop from mobile devices. Websites should always be optimized for this purpose to avoid losing out on potential sales. A mobile-friendly site is valued for factors such as entertainment, speed and convenience. Failing to optimize the site can lead to a decline in sales. Every effort should be made to improve the overall customer experience.
Offering discounts is a tried and tested marketing strategy that continues to appeal to customers. Everyone wants to know that they are getting a god deal and substantial discounts are an effective way to improve sales in ecommerce. From taking a specified percentage off selected items to giving discounts for everything on the site, there are different ways to offer people value for their money.
7. Best sellers
It is always a good idea to show customers the items that people purchase frequently. Some people may browse the site but are not sure about what they are searching for. Companies that sell a wide variety of things can be overwhelming for new customers.
Categories for the best-selling products can be placed strategically on the site to attract the attention of both new and existing customers. Top sellers are usually the products that are most profitable on the site and every chance should be taken to promote them.
It is important to come up with new and creative strategies to market goods and services on an ecommerce website when sales begin slowing down. Focus on existing customers, ensure the site is secure, use videos, add images, remember mobile users, offer several promotions and promote the bestselling items. These are some of the tips that can help to increase sales on the site.