Dwindling revenue is not a good sign for your eCommerce business. If you are not converting customers and creating more revenue opportunities, you will soon find your eCommerce store on the brink of a shutdown. Revenue helps you elevate your company, serve your customers better, create marketing campaigns and do much more.
If the sales on an eCommerce store are the only income source, then a merchant will find it hard to sustain their eCommerce operations. Fortunately, we have taken the time to scourge and collect some must-have features for your eCommerce store to increase revenue and improve growth. Let’s take a look:
Subscriptions – Consistent income is one of the best ways to generate revenue for your business, and subscriptions can help you achieve that. Customers don’t need to make purchases manually. Instead, they buy a subscription plan and accept to receive products periodically.
For routine products that don’t require a great deal of research, automation seems to be the best way to go. Get your favorite product delivered to you without the need to login, search, add to cart, and checkout. Sit back and have the items delivered to you, according to a preset interval.
Live Chat – Customers tend to abandon websites or stall their purchase plans when they don’t receive an instant solution to their problems. However, having a live AI bot or human chat system can significantly lower these bounce rates.
An immediate response to their query or timely assistance can secure another order for your eCommerce business. It is pivotal to be there for your customers when they need you the most. A delayed response can upset loyal customers and break their trust in your brand.
Retargeting Plugin – It’s essential not to lose customers, they may have left an item in your cart, or maybe they have been gone for a long time. Either way, it’s on the merchant to reach out to them and re-engage them. Install a plugin that helps you to send personalized emails to these users.
Automate your retargeting campaign and send recommendations of similar products, promotional offers, free shipping deals, and other deals to attract them into placing an order on your eCommerce store. Never lose existing customers; keep in touch and remind them about your brand constantly.
Security Features – Consumers refuse to transact on eCommerce stores that don’t display the requisite security labels. In the absence of an SSL certificate or a padlock on the URL bar and other such trust signals, customers will immediately abandon the website. The lack of security even affects your ranking on search engines.
Google bots review the security protocols of an eCommerce store. If your site falls short, your site’s traffic will lower, which will affect engagement, conversions, and profits. Display badges like McAfee, Norton, Verisign, etc., to improve your website’s credibility.
Hello Bar – Use a hello Bar on your eCommerce website’s homepage to run promotions and display other pivotal messages. A visually appealing bar will undoubtedly catch your visitor’s attention and boost sales. Companies can use Hello Bar to create pop-ups on their sites.
Specific visitor-based actions trigger such pop-ups. Visitors can also receive Desktop push notifications, depending on their profile metrics. A prominent and aesthetic hello Bar will not only help inform your users, but it’ll also help you trigger more orders for your eCommerce store.
Analytics – Integrate an analytics plugin or sync your eCommerce store with a cloud-based analytics tool to improve your business performance and increase your revenue. Valuable insights and metrics about your business, customers, inventory, and the industry will help you offer better messaging, services, products, and more.
Deploy an analytics tool to assess various aspects of your business and rework those areas. A holistic analysis will reveal vulnerable areas and help you to take the necessary actions to fix them. Either way, analytics is the best way to enhance your business strategies and increase your revenue.
Inventory Management – Managing your inventory helps you to serve your customers better. When your customers receive a pleasant buying experience with you, they are likely to stay longer and increase your Customer Lifetime Value (CLV). An increase in CLV will increase your revenue.
View your stock count, track your SKUs, track your orders, get notified about Out of Stock items in advance, see how your products are performing and manage your inventory better. A robust inventory integration for your products will help you serve your customers better, increasing your revenue.
Checkout – Shorter checkouts or even guest checkouts are known to trigger an increase in revenue. In contrast, checkouts that take forever may seem inconvenient and lethargic and create abandonment. Look to shorten the checkout process.
Introduce lesser fields at checkout. If possible, create a guest checkout facility, as registrations take a while, and users may dump the idea of buying from you. Cut the registration process out or introduce social logins to streamline the checkout process.
Referral Program – Start a referral program using a reliable referral plugin to increase your website revenue. Pre-existing users will advocate your brand’s worth in communities, forums, social media, and more. Plus, they’ll get rewarded in the process, and you’ll win new sign-ups.
The new users will place orders and increase the revenue of your eCommerce website. An increase in the number of users participating in the program will increase the likelihood of new users. These new users will purchase from your store and contribute heavily to your income.
Gamification – The best way to engage, award, and retain users is by the use of gamification elements on your eCommerce website. Gamification has the ability to draw customers into playing games that require a little effort but ensure rewards if they clear the levels. By giving coupons, and other discounts as prizes, merchants can stimulate more orders.
Not only is it fun for users, but merchants too can gain a ton by employing gamification tactics. As the word about the activity spreads, expect more people to sign-up, complete tasks, win prizes and stay back to become loyal users, who’ll create more orders. An increase in order placements will lead to more revenue for the eCommerce website.