The e-commerce industry has exploded in the last decade and the pandemic propelled it further forward at a record rate. The online shopping market is overloaded with new and attractive products, so the only way to “make it” is to stand out from the competition. Having the right tactics and a strong growth strategy you can bring high-quality traffic to your online store, converting new visitors into repeat customers and achieving e-commerce success. 

Strategies to Grow your E-commerce Business Revenue

Start an affiliate marketing program. Affiliate programs can be beneficial to business owners because they don’t need to pay their affiliates until they produce results, based on the terms of the relationship. Affiliates market products and brands to their respective audiences for free through social media and other online platforms. 

Expand your audience. It’s important to expand your audience to include another group of similar consumers. The more exposure your e-commerce brand gains online the more sales you’re more likely to make. 

Increase traffic. If you haven’t optimized your website for search engines (SEO) or invested in search engine marketing (SEM) it’s time you do so. No e-commerce company can survive without an online presence. It starts with organic search and improves with advertising, social media, and content building.

Encourage repeat business. Make customers come back and continue shopping by sending a coupon with their first purchase, or implementing a loyalty program. Loyalty programs can take any number of forms, but generally feature a system whereby points are accumulated that build increased buying power. E-commerce brands accomplish this by making their best customers feel valued. Do so by giving them valuable rewards through a customer loyalty program, that rewards buyers for doing things beyond buying such as writing reviews.

Implement dynamic pricing. Pricing strategy is essential to improving profit margins. Dynamic pricing is a new and effective pricing strategy for the retail industry that allows businesses to have flexible pricing. There are many external factors that retailers must be able to react to, such as competitor pricing, site traffic, conversions, seasonality, and more. When retailers include dynamic pricing in their pricing strategy, they are able to better keep up with market fluctuations.

Reduce your return rate. There are multiple solutions for return authorization management systems that not only streamline the process but help you turn a cost center into an upsell opportunity. There are also apps that credit the customer’s account before they’ve even returned the product and encourage them to spend the credit before leaving the website.

Partner with other companies for cross-promotion. Cross-promotion with other related yet non-rival businesses opens up a whole new level of opportunities. Gain access to each other’s audience and help each one out in marketing. Some of the most common cross-promotional activities include partnership giveaways, event sponsorships, and co-branded campaigns.

Improve your conversion rate (CRO). When working on your conversion rate, the key is making small optimizations that add up. Here are a few subtle changes that can help you improve your conversion rate and increase your e-commerce sales!

• Focus on website security;
• Make your website and checkout flow as mobile-friendly as possible;
• Introduce more payment options;
• Create urgency;
• Remove distractions from the checkout flow.

Increase Sales With E-commerce SEO

Regardless of your business’ size, target audience, or industry, SEO is essential for maximizing your profits. Search engines such as Google are now an integral part of the store can get more traffic and subsequently, make more sales. 

If your products aren’t ranking highly in Google’s search results, then you could be missing out on sales. Start implementing the right e-commerce SEO best practices and climb the rankings. By conducting thorough keyword research and learning from your competitors, you can get your SEO strategy off to a strong start. You can then optimize your product pages to help them rank higher in search engines, using techniques such as snippets and breadcrumbs. Finally, you can increase key metrics, including session duration and number of pages visited, with an effective content marketing strategy. 

Conclusion:

E-commerce has become an even bigger part of the retail business and takes a vital part of the retail industry.  Retailers bringing in most of their revenue through in-store channels will need to rapidly address their e-commerce strategies or they risk falling behind.

E-commerce owners often associate growth with new, but that is rarely the case. In many ways, the customers who have already made purchases on your website are the biggest source of additional revenue. They have already invested in your brand, so winning them over is less effort than converting a new customer. 

Don’t forget the e-commerce SEO tips. These will take time to take effect, make sure to develop an e-commerce SEO strategy that can sustain the frequent algorithmic changes and ensure your business’ growth. After you have developed your SEO strategy, start to implement it right away. SEO takes time, so the sooner you start, the better it will be for your store. Are you ready to boost your traffic and revenue?

We offer advanced e-commerce SEO services and complex digital marketing solutions. Schedule a quick chat with our team to learn how we can help you explode your e-commerce growth.