More and More Revenue every Year: What the Best Ecommerce Retailers Are Doing to Increase Turnover Year-Over-Year
Recording an uptick in year-over-year revenue is every upcoming business’s desire. But only renown online retailers and experts in the field know what it takes to keep going up the ladder with every year that passes.
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1.Streamline the purchase and checkout processes
What payment means do you offer; is mobile one of them? Well, the faster checkout is one of the challenges customers are facing in their online shopping endeavors. Automate the buying, paying and delivery processes so that you don’t end up with poor reviews that may shake your bottom line.
2. Expand Your subscriber base
This involves growing your subscriber base by following them on the multiple social avenues including email, Facebook, Instagram, Linkedin personal connections, Twitter, Pinterest, and SMS/text numbers. Update all subscribers on upcoming events or special programs. A growing subscriber base equals an ever-increasing year-over-year turnover
Tech is transforming at super speeds; therefore, you can never go wrong by automating whenever possible. Use tools and tech like drip email campaigns based on customer behavior and AI Chatbots to follow up visitors even when you are busy with other aspects of your business.
4. Convert more visitors to buyers
Here are the different ways to convert more website visitors to buyers.
- Split/AB testing with Google Optimizer,
- Get 5-star reviews with ShopperApproved,
- Promote trust with visitors (Norton’s/Symantec),
- Retarget visitors with tools and platforms like (Adroll, Reach Dynamics, Facebook, Google),
- Subject line testing using the various email platforms that allow it
5. Don’t Ignore Content Marketing
Expand your target organic traffic by implementing strategies like SEO blog post, Youtube videos, LinkedIn Posts, Infographics or any other relevant media to your space. If you can, draft a budget to advertise your content keeping in mind that; growing content and grows traffic!
6. Get more Affiliates/Partners/Referrers
Reaching out to different Partners/affiliates calls for proactive participation in the industry and acknowledging fellow industry players. Make sure to reach out only if you are sure your website will get traffic or benefit one way another from the business rapport. Consider looking at affiliate networks with very high-end affiliate management.
7. Monetize more
Increasing year-over-year revenue will only come if you get more income and referrals from your traffic. Areas you can turn into monetize include:
- Internal email databases,
- Adding a “thank you” page after purchase or lead submission,
- Remarketing to audiences with relevant products/services,
- Customer Retention through loyalty strategies,
- More and more referrals from your customers and visitors,
Monetizing more increases your overall revenue over time.
8. Boost your Mobile experience
Mobile traffic is too much to lose because of a poor online presence. In fact, it has been a bone of contention since Google added it as a ranking factor last year. So, when working on your website, set aside a separate budget for this.
9. Personalize for exceptional customer experience
Know your customers, learn their shopping habits and target them with the right product, then smooth the buying process, offer bonuses and ensure excellent service all through. Make your site a place to be compared to previous sites.
The best online retailers know that the trick to remaining on top of the ladder is advancing with the transformations in the online business industry. Now you know what to do to grow your turnover year over year.
Author Bio: As the FAM account executive, Michael Hollis has funded millions by using business funding solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.