9 Tips to Increase Revenue without Increasing Traffic for eCommerce
People know your brand, you have good traffic, but your sales are falling short. Sounds familiar? Don’t worry; you are not alone. Most online stores suffer from low conversion rates and are unable to turn potential leads into customers.
A low conversion rate is a problem for your business. If people visit your online store, but somewhere, the site experience is stopping them from making a purchase, you need to find a solution. In this guide, we will explore how to improve your eCommerce conversion rate.
- 3 Possible Reasons Why You Have Good Traffic But No Sales
- 9 Ways To Increase Revenue Without Increasing Traffic
- 1. Identify Where You Are Losing Customers
- 2. Improve Your Email Marketing Efforts
- 3. Best Use Of Social Media
- 4. Improve Conversion Rate By Constantly A/B Testing
- 5. Use Data To Improve Strategy
- 6. Build Buyer Personas And Learn About Your Customers
- 7. Provide Excellent Customer Service
- 8. Provide a Great Delivery Service
- 9. Run Promotions
3 Possible Reasons Why You Have Good Traffic But No Sales
A low conversion rate is a common problem for online stores. Consumers will often be intrigued enough by your product to visit your website but leave without making a purchase.
Here are some reasons why consumers are only window shopping:
- Your promotion is working as consumers visit your site but can’t find the offer. You need to help them navigate across your site more efficiently to find the right page.
- Some e-commerce brands undo any gains from brand awareness due to patchy customer experience. Ensure that the product pages, the checkout pages are optimized for sales.
- The customer wants to make a purchase, but your policies are not clear. A lack of clarity regarding returns and shipping can lead to cart abandonment.
The three reasons I mentioned above are common problems for e-commerce stores. Below are a couple of additional problems customers have that you might recognize.
For a lot of businesses, getting the customer to recognize their brand is the most challenging step. However, the real work begins after they land on your site.
We will show you how to avoid common pitfalls and improve your conversion rate.
9 Ways To Increase Revenue Without Increasing Traffic
It is a common belief that more traffic results in higher revenue, but it is not always true. Only a certain percentage of visitors to your site will ever make a purchase.
If you can increase the number of these visitors who make purchases, you will increase ecommerce revenue from your store without increasing traffic. This section will crack the code to take more potential customers from the landing page to the checkout page.
1. Identify Where You Are Losing Customers
Before you can increase the number of purchases from your existing customers, you have to find out where you are losing their interest. With tools like Google Analytics, you can track the customer’s journey on your site from start to finish.
As we discussed, the landing page experience is important. Where they land on your site determines their site journey. Here, the adage of striking the iron when it is hot stands true. If they have clicked on your site, take them directly to the page where they are likely to make a purchase.
A simple site navigation structure and good internal linking will help you achieve this. This article on Singlegrain provides some insights.
In the same vein, make sure your product categories are well managed. One of the drawbacks of an online store is that you are restricted by how much information you can cram into one webpage. This is what makes product categories important. The visitor should see the wide range of products you offer and find them easily.
2. Improve Your Email Marketing Efforts
Email marketing is a chance to give your customers curated content that helps create a connection between your audience and your brand. By opting in to receive the emails, you already know that the subscriber is interested in your products.
Use an email verification service to ensure the details of your subscribers are accurate. Then, share relevant content, free gifts, and special offers with your subscribers to keep them engaged.
Email marketing is not spamming your subscribers with product offers. The audience needs to feel that the content has value. Otherwise, they will just hit the unsubscribe button.
Another way to the interest high and avoid the unsubscribe button is through exclusive deals and promotions that benefit your customers. This way, you can get them to make purchases and drive more ecommerce revenue through emails.
Emails also allow you to send abandoned cart emails to subscribers. Abandoned cart emails are a simple way to increase your conversion rate.
3. Best Use Of Social Media
Studies estimate that an average user has at least eight active social media accounts. That means that your audience is accessible on eight different platforms.
How many social channels are you active on?
Branding on social media can be tricky, with everything from viral videos to current events keeping your audience occupied. There are a few ways to make sure that you are reaching your target customer on social media platforms.
Sites like Facebook allow targeted advertising that makes reaching your intended user easier. You can set up your ads using custom audiences, which allows you to show ads to people who share the same demographic information as existing customers.
You can also segment the visitors on your site based on what they do when visiting your site with a retargeting pixel. You can then run retargeting adverts to these people.
4. Improve Conversion Rate By Constantly A/B Testing
A/B testing is the process of comparing two different versions of a webpage. You give one version of a page to 50% of visitors, and the other 50% see a different version of the page. You can then measure the pages against each other based on various parameters to see which is best.
You should run A/B tests and split tests to optimize your conversion rate. By doing this, you can improve the user experience. By consistently improving your conversion rate, you will slowly increase website revenue.
Put your checkout process, site navigation, and product descriptions through these tests. After all, in general, the easiest way to increase revenue is to make more money from your existing traffic.
5. Use Data To Improve Strategy
Behavior data can throw up solutions on why potential leads are not turning into added revenue. As we discussed, analytics data helps you zero in on the exact page, and even the element on the page, where you lose the customer.
Another way data can help you maximize revenue is through segmentation. You can segment your customers based on what they purchase. Tracking the products your visitors are browsing also allows you to upsell and cross-sell.
You can cross-sell and upsell visitors by showing them more expensive products than what they are buying or things often purchased with the product. Amazon does this all the time. They offer products while you are purchasing. They also send you offers for complementary products by email after you made a purchase.
6. Build Buyer Personas And Learn About Your Customers
When buyers visit your website, they leave a lot of information that can help you create “personas.” By digging through reviews, analytics data, and identifying patterns, you will learn about your customers.
You can use this information to improve your site experience and increase ecommerce sales. Alongside analyzing data customers leave, you can also ask your customers for feedback through surveys.
You should continually collect customer feedback and use the information you acquire to improve the customer experience. Through doing this, you can identify the loopholes in your sales funnel and generate more revenue.
7. Provide Excellent Customer Service
Driving traffic to your site can be costly, with advertising burning a hole in your pocket. Another way to add revenue without the hike in traffic is to ensure you get the maximum number of repeat customers. The best way to keep a customer coming back is to provide an excellent customer experience the first time.
Excellent customer service includes a great product, an easy-to-navigate site, clear policies, and the often ignored-after sales service. The last factor is often why brands lose out on returning customers as they are unable to follow up their great product with an equally robust customer care system. Customer care includes how you handle returns and how easy it is to contact your business.
8. Provide a Great Delivery Service
The customer liked your product, it is sitting in the cart, but one look at the shipping charge and your revenue is gone. Cart abandonment is a problem for business owners. Studies indicate that high extra costs, like shipping charges, are among the leading reasons for cart abandonment.
Shipping charges take away from a great product and a smooth site experience. Free shipping is one way to get more customers. If that cuts into your budget, consider cart-based incentives.
Cart based incentives can include free shipping for a minimum cart value or on bundled products. Incentives that increase the Average Order Value (AOV) can help boost profits and combat cart abandonment at the same time. People are more likely to pay for an additional product that gives them something to get free shipping that many see as an “empty” expense.
9. Run Promotions
There is nothing like a good deal to get people to make a purchase. Promotions include special offers, flash sales, discounts, and coupons. Discounts help drive sales up and improve brand awareness.
A good deal can also encourage old buyers to make a purchase.
Promotions will give your conversion rate a boost and generate fresh sales. Drive sales by building long-term value through good products, policies, and seamless website experience.
In this guide, I discussed how to increase site revenue from the same number of visitors. Invest in customer research and run tests to increase your conversion rates continuously. Leverage your email lists and Facebook Ads to target visitors based on their actions. Policies such as this will help you tailor your offerings according to their needs.
Once you have accomplished the difficult task of getting a customer to your site, make sure your site is optimized to generate sales. A smooth site experience, consumer-friendly policies, and promotions can help you drive up sales.