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E-Commerce Strategies for Increasing Sales in 2024
If you're reading this, you probably own an eCommerce store and are seeking specific ways to increase revenue. What you'll find here are tried-and-tested marketing strategies that improve cash flow and increase paying customers.
Below are 40 suggestions to up your marketing strategy, enhance brand awareness and boost eCommerce website sales. BusySeed Digital Marketing Agency has over a decade of experience in providing conversion rate optimization services, marketing communications and improving the overall profitability of online stores, so we know what we’re talking about.
2.5 million!
That’s the number of e-commerce stores in the US, and the number is growing.
With the raging competition in the e-commerce space, how do you set yourself apart and grow sales for your business? All you need is a sound e-commerce marketing strategy.
Fortunately, it doesn’t take advanced sorcery to master the art of selling online and growing a successful business. Success in this competitive field results from a combination of handy techniques working together in unison to help you reach your sales targets.
Ready to grow your e-commerce sales?
As the best digital marketing agency, we’re here to help! In this guide, we’ll explore 8 proven ways to boost e-commerce sales without breaking the bank. Let’s get to it!
1. Build an Email List
Email is one of the most cost-effective tools you can use to grow sales and revenue for your e-commerce business. In a recent SaleCycle survey, 59% of the respondents said marketing emails influence their buying decisions, and 50% buy from marketing emails at least once a month.
If done right, email marketing can grow your sales exponentially.
A strong email list can help you target customers at a better conversion rate. That’s because the click-through rates of emails are several times better than social media platforms.
Sure, building an email list can seem like a daunting task. But if you can ace it, you’ll enjoy a steady stream of quality leads. Email works well because you’re targeting people already interested in your business. In other words, with email, your customers choose to opt-in to hear from you as opposed to getting targeted by paid ads.
2. Leverage the Power of Social Media
With more than 4.2 billion people active on social media worldwide, there’s no better place to look for leads than on these platforms.
Social media can help you reach a wider audience quickly. In fact, 1 in 2 Instagram users has reported using the platform to find products and brands. This makes a compelling case for why you should use social media to grow your e-commerce sales.
Social media can be particularly effective for sharing special deals and coupons with your followers. Chances are a vast majority of your customers are on these platforms. So, make maximum use of social networks to promote your products and run targeted ads.
3. Offer Social Proof
Did you know that 9 out of 10 customers (approx. 90%) read online reviews before making a purchase decision? When customers aren’t sure of what product to choose, they turn to Google for answers. They want to know what users of those products are saying about them.
Social proof can help establish trust and credibility in your products.
Social proof can take many forms, but showing positive reviews on your social media pages is a surefire way to win clients.
However, you should not remove negative reviews unless they’re not authentic. Maintaining the authenticity of your social proof is as important as getting 5-star feedback.
4. Upsell Your Products
When a buyer adds an item to their cart, you could celebrate that win by doing a happy dance…or upsell and increase sales.
The latter seems the more profitable option.
Studies have shown that upselling increases revenue by 10 – 30% on average. Better still, upsells are around 68% more affordable than acquiring new customers.
But how do you upsell products on your e-commerce site?
One of the easiest ways to upsell is to insert pops to offer a related product a buyer might be interested in buying. For example, if a buyer puts a laptop in their cart, you could upsell a laptop bag or a cooling pad. Customers are likely to buy these products because, at some point, they’ll need them when using the laptop.
5. Offer Great Deals and Discounts
One surefire way to boost your e-commerce sales is to offer great discounts, promos, and special offers. Studies have shown that 67% of consumers have made an impulse purchase solely because of a discount or coupon.
By offering a discount, coupon, or special deal, you could persuade customers on the fence to buy. Using an urgency technique could work wonders here, so be sure to include a countdown with your offer.
6. Minimize Cart Abandonment
Cart abandonment is a big problem for store owners.
Statistics show that roughly 7 out of 10 shoppers won’t complete their purchase.
Understanding why shoppers abandon their carts is the first step to improving e-commerce conversions. Some of the top reasons for cart abandonment are:
- Forced account creation
- High additional costs (shipping, taxes, and other fees)
- Complicated checkout process
- Major website performance issues
- Security concerns
- Limited payment options
- Inadequate return policy
Once you understand what cart abandonment causes apply to your site, you can work on fixing them. For instance, if excess fees are the top reason for cart abandonment, you could offer free shipping for some items. If the checkout process is the culprit, you can work with your developer to simplify it.
7. Leverage Video
In the competitive e-commerce landscape, your chances of standing out depend on your ability to distinguish yourself from the competition.
Since everyone is using high-quality images in their marketing, why not up the game with video product demonstrations? If you’re looking for a cost-effective way to boost your e-commerce sales, video product demos are an excellent choice.
Unlike static images, videos can be used for product exploration or to showcase the product being used in real life. Leading companies, like Allbirds, are using video product demos in their e-commerce stores and are seeing a quantum leap in results.
8. Offer Free Stuff
Everyone loves freebies.
At first glance, offering freebies can seem expensive. After all, we’re in the business of making money, not losing it, right?
However, offering free stuff can help you reach your long-term sales goals. For instance, freebies can help build customer trust. These customers can become your greatest brand advocates, not to mention the repeat purchases you can expect from them.
Think of giving out free stuff as a solid investment to build customer rapport and loyalty rather than a loss-making practice.
Wrapping Up
Increasing your e-commerce sales doesn’t have to be challenging if you have a great e commerce marketing strategy. It doesn’t need to be expensive, either. Familiarize yourself with the above e commerce marketing strategy, identify what works for you, and implement them to boost sales and revenue. Want to have the best digital marketing agency put together a customized strategy for your business? Schedule a discovery call with our Business Development team today!
