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How To Boost Your eCommerce Revenue in 2017

how to boost your ecommerce revenue in 2017

The trend is set. Online sales are growing and retail sales are shrinking. While a good blog and paid-for ads will drive traffic to your site, you need to convert some of those visitors into customers to generate revenue. Here’s a hint on how to boost your eCommerce revenue in 2017: it’s easier and more profitable to double your conversion rate than it is to double your traffic.

How To Boost Your Ecommerce Revenue in 2017

Have A Mobile-Friendly Website

Twenty-five percent of eCommerce sales were placed on mobile devices in 2016. But twice that many shoppers visited on mobile first and returned on a desktop later to make the purchase.

That’s why it’s important to present a consistent presence across all platforms. Additionally, your site should have a mobile-friendly mega menu. It makes it easier for mobile users to navigate the site and it also decreases page load time.

Have A Shopper-Friendly Site

First-time visitors have no idea whether they’re going to do business with you and it’s easy to scare them away by trying to capture their email too soon. Generally speaking, it’s best to give them a chance to explore the site first.

Check your logs to see how long the average visit lasts and time your email capture to load at an opportune time.

Provide A Shopper’s Wish List Tool

A shopper’s wish list tool is an effective way to get shoppers invested in your site. It’s also the easiest way to turn them into repeat clients. Once they’ve built the list, you can ask them for their email address so they can save the list for later or share it with someone else.

Always provide value to the client before asking for their private information. Even a small gift will be more effective than a ‘sign up to our email list to be notified of future posts’.

Provide A Save-the-Cart Feature

Most online shoppers are comparison shoppers. It’s not uncommon for them to have several browser windows open as they compare prices of similar products. That’s why it’s important to let them save carts.

How To Boost Your Ecommerce Revenue in 2017

 

The easiest way to boost your eCommerce revenue is to reduce cart abandonment

 

According to a 2016 study by the Baymard Institute, over two-thirds of shopping carts are abandoned during checkout. That means you could double your sales by reducing cart abandonment by fifty-percent.

 

Here’s the breakdown of why shoppers abandoned their carts:

  Extra costs too high (shipping, taxes, fees) 61%

  Didn’t want to create an account 35%

  Checkout process too long or complicated 27%

  Total cost not visible early on 27%

  Website malfunction or crash 22%

  Didn’t trust site with credit card info 18%

  Delivery takes too long 16%

  Unsatisfactory return policy 10%

  Too few payment options 8%

  Credit card declined 5%

note: those who were just shopping and not ready to buy were removed

 

how to boost your ecommerce revenue in 2017

 

How To Reduce Cart Abandonment

  Offer free shipping

  Disclose all costs up front (especially shipping charges)

  Offer a guest checkout option. Forcing users to register is responsible for thirty-five percent of abandoned carts

  Simplify checkout and have a clear checkout progress indicator

  Have a money-back guarantee that inspires confidence in shoppers

  Use Trust Logos from Mastercard, Paypal, Verisign, Thawte etc.

  Offer several payment options

  Provide an easy way to navigate between the shopping cart and shopping pages

Wrap – How To Boost Your Ecommerce Revenue in 2017

Imagine a bricks and mortar store where two-thirds of shoppers abandon their carts and walk out without buying anything. That’s the state of online retail right now. While cart abandonment will probably always be higher in the digital world, it shouldn’t be as high as it is.

Check your site against the list above and make changes wherever you can. What’s your biggest beef with your online shopping experience?

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