Looking for tips to improve your sales? Many guides splashed online use examples of successful brands that do marketing right.
However, sometimes the best lessons are learned through failures. Boo.com, for instance, had opened the eyes of many digital marketers when they closed their doors back in 2000.
This promising company aimed to be the biggest online retailer for sportswear and prestigious brand leisure.
Although their idea was nothing short of revolutionary at the time, Boo.com failed to answer the fundamental questions that define a company’s profit potential.
Some of the intricate details they overlooked include the customer acquisition cost, conversion rate, and the target amount of monthly visitors.
The good news is that the marketing community seems to have learned its lesson. Conversion rate, monthly traffic, customer acquisition cost the stats that killed Boo.com are now some of the most watched metrics in analytics tools.
Furthermore, online brands are now unafraid to think outside the box and embrace new strategies to improve their selling performance.
To help you achieve the same results, here are some of the best tips you can follow:
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1. Leverage Customer Reviews
Nothing will ever be sold online without trust. It is the main driver that fuels every purchasing decision, especially in e-commerce stores that do not offer a "cash on delivery" option. Also, one of the best ways to build trust is to leverage User-Generated Content such as customer reviews.
When purchasing something online, 92 percent of consumers would rather trust word-of-mouth and recommendations from their peers than promo materials from a company. The quickest way to capitalize this is to encourage user reviews on social networks such as Facebook. Since most of your prospects’ friends are probably on Facebook, there’s a good chance that publishing reviews there will guarantee the best visibility.
You can also display customer reviews straight from your product or category pages. This strategy can increase sales by up to 76 percent, especially if you display authentic and insightful reviews. For this, you need a tool like MyRealKarma to collect reviews from E-commerce channels like Amazon, Etsy, and eBay into a single widget.
2. Reduce Abandoned Carts
Shopping cart abandonment is a common problem for e-commerce businesses. According to Baymard, there is a 68.63 percent average cart abandonment rate in some industries for 2016. That is most of your customers gone before they finalize a purchase.
Solving a high abandonment rate, however, is a complex task. Each client may leave for different reasons. For example, they may not have enough cash to close the deal or the online store did not offer their preferred payment option. Pay attention to customer feedback to learn how you can improve conversions. Additionally, you can send remarketing emails to shopping cart abandoners to give them another chance for conversion.
3. Customer Case Studies
What better way to improve trust and increase buyer confidence than to show your product in action? Customer case studies are in-depth posts or article series that can show potential clients the kind of experience they should expect. An excellent case study also includes tips and recommendations based on their firsthand experience.
Case studies receive excellent engagement because they follow a story, which relates to the problems that your target customers have. Of course, you can write a case study yourself with the participation of a user, but it is also a good idea to have professional bloggers and influencers and customers do it for you.
4. Create More Compelling Email Campaigns
Reaching your target audience through emails help, you establish an almost personal connection with them. Unfortunately, many marketers fail to deliver compelling emails consistently. In turn, they waste this marketing channel is incredible potential in nurturing loyalty and maximizing conversions.
Remember that increasing the opt-in rate for your mailing list is not the only way to improve your email marketing campaign. You also need to offer value in staying subscribed. Keep in mind that consumers already expressed a level of trust in subscribing to your mailing list. It would be unwise to ruin that trust if you regularly fill up their inbox with useless spam.
With this being said, make sure that every email you send is relevant and valuable. A professional “welcome email” is a good start, but you need to keep it up with more quality emails whenever you have important updates or product promotions. You can also send reminders whenever users leave items in their wishlist for too long.
5. Use Instagram
Promoting your brand on social media is a surefire way to connect with your audience and nurture trust. Instagram, in particular, is extremely useful when it comes to engagement especially for mobile users. It has more than 400 million active monthly users and 3.5 billion daily likes.
From a marketer’s perspective, Instagram is a great place to get User-Generated Content. These are images made and shared by your audience to share their experience with other users. Remember that the social community is more receptive towards UGC and word-of-mouth recommendations from their peers. If they see actual customers having a good experience with your product, they will be more likely to buy from you.
To market with Instagram, don't forget to include a link to your account from your main website as well as other social media channels. Also, cross-promote posts from these locations to attract more followers. When it comes to generating UGC, you can run an Instagram contest that encourages users to post about your brand for a chance to win a prize. Aside from photo contests, there are plenty of other contest types you can use to maximize user engagement and gain maximum exposure.
Related Article: Helpful Feedback: What Customers Like to See in an E-commerce Site
Remember that the strategies included are only some of the best ways to increase conversions in online stores. Marketing never actually stops, and there will always be the means to improve how you run your online business. Be on the lookout for these opportunities and don't be afraid to try new stuff.