How to Combat Declining E-Commerce Sales
It is expected that by the end of 2021, e-commerce sales might hit $4.5 trillion. A lot of business go online and the number of businesses is increasing rapidly with an increase in the sales volume to newer heights every year. But the truth that can never be ignored is that even though the market is booming but still there are a lot of online businesses that are feeling sales squeeze yearly, sometimes monthly. According to Harvard Business School, more than 75% online ventures face failure in their startup days. This means those businesses don’t exceed more than 6 months.
Entrepreneurship is not a game for the faint and weak hearts whereas launching an e-commerce online business is not merely an easy task. There needs a lot of work and effort to engage your visitors and customers with you and provide every solution to them that they don’t feel the urge to switch from you. Here we are covering some ideas that you can use to combat your declining e-commerce online store sales and help in boosting your sales to next level.
Building Brand Awareness
Through brand awareness, you can create the trust that impacts sales to leverage profit, along with repetitive sales and improvement in SEO. The basic way to create brand awareness is to focus on improving quality. You can improve the quality by creating high-quality content, influential product description and engaging offers to the customers. The more your quality will increase the more trust will increase, resulting in higher sales every month.
According to CEO of Lon Safko, there is an absolute need to SEO every of your web page with great content and high-resolution images. It is necessary to work on all the channels such as Facebook, Twitter, Instagram etc. to attract your customers to your website through every mean and source.
Email Listing for Active Email Marketing
Build email listing and efficiently and effectively manage email marketing to engage your customers with you. Active participation of your customers can lead you to fruitful sales. By using email marketing, build a relationship with your customers. Offer discounts, promotional codes and bundle deals to attract them back to your website for purchasing. Through emails, you can directly interact with your customers and retain them to shop from you again.
Through email marketing, you can get quality leads that support prominent repeat purchases. In this era where the biggest competition is on competitive pricing, email marketing leads to direct contact with the customers encouraging for repetitive purchases. Your email is not just about discounts and offers, but it creates an experience for the customer to get to know more about you and your offerings.
Share your videos, behind the curtain life, share your opinion and ask for their piece of advice, make them feel like part of your family, appreciate their presence and importance to you via your email. The ROI with this would not be at the instant but it will be for a lifetime.
Social Media Interaction
One of the superlative ways to drive some new visitors to your online store is by converting social media followers into loyal paying customers and then re-engage them to purchase even more than before. Facebook is believed as the largest social media platform providing a huge number of referrer for e-commerce business orders. According to Adweek, from Facebook Ads, the average return on investment for e-commerce online businesses is more than 152% yearly.
It is recommended that all the website owners must install Facebook pixel and integrate it with their online business. Through this, nearly 96% of your prospects can be attracted with ease. For Facebook ads, don’t just rely on its own algorithms of ads, instead, set up your own ads as per your audience, inclusions and the exclusions.
Not only Facebook, but other social media platforms also provide exceptional opportunity to bring in business for your company. Use every platform wisely and intellectually to pull up leads and nurture them to get mature and prosperous sales.
Improve in Conversion Through Testing
It is important to keep on testing just to avoid complacency. Keep on optimizing your online store and your marketing channels for increasing the chances of conversion. The co-founder of Shogun Landing Page Builder believes that if you haven’t tried more than 50+ chances in your existing strategy than you haven’t worked enough for the progress of your online store. Keep on experimenting and finding ways to increase your conversion rate.
If you are not able to achieve that you set as your goal before then keep on digging in your analytics to evaluate what chances are required and what changes can bring in success to you. Do A/B testing of your items so that you can figure out which method is better and which is obsolete now. Use data and figures and facts to evaluate your current standing and make fruitful future decisions. According to zachheller.com, you should continuously use A/B testing hypothesis to every item of your website, from button placement to color in it to product photography to the written content.
Data Analytics to Improve Conversion
CEO of Result Kitchen says that if you are well aware of your site numbers and have efficient analytics to track down to a proper result, then you can easily scale your business with much effectiveness. Every target market requires another strategy to reach out to the customers and hence they need a different set of analytics. Analyze and evaluate every market with brilliance and prominence to know which area is better for you and what potential the market has for your product placement.
Have accurate and regularly updated analytics to better understand your current standing in the business. Through analysis, you can easily figure out which products of yours are just eating up your money and not producing a single penny for your business. Sometimes it is necessary to decrease your product catalog in order to increase your profits and sales. Do efficient segmentation and try to sell your products through up-selling and cross-selling strategies and methodologies.
Understanding of Your Customers on Deep Level
You can know more about your customer only through interaction. If you are able to understand the psychology of your customers than you can create better ads and launch such products that are cherished by your customers. There is no replacement for taking follow-ups from your customers at every stage of their purchase journey from your store. Get on-site polls, user testing of new products, get reviews and feedbacks to know more what your customers are essentially looking for and how can you improve yourself.
You need to understand what the pain points of your customers are, how they are facing the friction and what can be done to reduce the constraints they are facing. Talk to your customers to know them better and thus helping your own site to get more customer engagement and more profit yielding results. It is the time to be customer-centric instead of product-centric and evaluate what your customers like instead of what you like to place in your online store.
Enhanced Customer Service for Better Customer Loyalty
There are some online businesses who are not paying enough attention to the chat system. There are a lot of customers who love to interact through live chat support system before making any purchase. Many advanced stores are using chatbots for automatic answering of the queries of the customers whereas some are using engagement automation that helps the brand to push themselves for a promotional campaign or inviting customers to know about them more.
It is important to invest in customer service to get more loyal customers. It is important to get new customers and acquisition of prospects but what gives you the best sales is in the hands of returning customers. If they are not loyal to you, they won’t come back. Keep on revolutionizing your brand as per the demand of the customers and ensure premium customer service that they always remain loyal to your brand.
Use shipping as a perfect way to surprise and delight your customers with happiness. Provide free shipping means to your customers so that they incline towards your brand more than anything else. It is evaluated the free shipping is a powerful tool that cannot be ignored at any cost. Customers have the tendency to purchase more if being offered with free shipment option. It is seen that customers tend to purchase from that store three times more if they have free shipment facility with them.
Promotional Strategies on the Website
Running flash sales on your website is a great way to offer discounts to your customers. Market your promotional offers on social media via paid campaigns and implement limited time offer tags to attract more eyeballs towards your brand. You, of course, need to spend on social media campaigns but this cost can be easily covered by sales of your product. Spending on a paid campaign and getting a loyal customer is way better than spending nothing and getting a one-time sale from your website.
Through promotional deals, discount coupons and bundle deals, accelerate your product launches and increase brand awareness with ease. Engage retaining customers while acquiring new customers through such deals that the customers find it hard to ignore.
Implementation of Creative Marketing Tactics
Proper structure of your site is everything, which most of the online business owners miss. Make sure the URL of your site has proper readability with minimum issues like hex codes etc. the titles should avoid duplicates and must be unique, sitemap and robots.txt should be properly structured, unique content on every page for proper SEO and images that should be optimized.
Your website must contain that infographics, videos and images through which the customers can get the solution to their problems, helping in gaining trust over your site. With quality content get better SEO leading to the better position of Google and Bing search results. Make sure you are targeting the customers properly with emails and incorporating such marketing campaigns that offer value to the customers.