The E-commerce market has been witnessing an unrelenting flight path. One of the best options for businesses is elongating your market by thrusting out the product and services, thus providing an answer to the question “Is E-commerce better than offline shopping?”
People who are probing for increasing the traffic on their e-commerce site in a pocket-friendly way, then this write-up is for you!
Here I have given four simple hacks that would help you to increase your business by shooting up your sales without deep pockets.
The four hacks are- Customer Service, writing better product descriptions, cross-selling and up-selling.
1. Customer Service
Amazon in-spite of being the world’s no.1 e-commerce giant as per study is sparing no effort to increase its revenue. One of the reasons for its significant evolution in e-commerce is customer service.
Jeff Benzos, CEO, Amazon had said,
“We see our customers as invited guests to a party and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.”
-> Problem Statement:
The most habile e-commerce businesses realize the gravity of being promptly available to their customers due to the unavailability of physical stores and related facilities. The reliability of e-business often depends on social proof and allay any precariousness before purchasing a particular product.
Sometimes a detailed illustration is expected by the customer. Thus interactive mediums like emails, phone calls, chatbots, etc., allow the client to approach you.
Linda Bustos, Co-founder of Edgacent, had once quoted,
“E-commerce leaders will have to keep up with these changes to survive and stay ahead.”
2. Writing Better Product Descriptions:
Another important aspect of boosting revenue in the e-commerce market is by writing better product descriptions.
Consider the image- The encircled portion shows the description of the product that the customer is ordering. The picture lets the customer have a detailed view of the product in question. The arrow on the right of the reader provides offers and finance related details on the product from the e-commerce site.
-> Problem Statement: Since the customers are buying from an online shop, they are judgmental over proofs like images of the products, specifications, product description, and feedback.
->Solutions: Therefore it’s essential to provide a snappy summary of the product which would connect the customers. Strong customer-centric product descriptions often turn up communication and trigger better sales.
-> Booster: Summing up by stating Paul Graham’s(Co-Founder, Y Combinator) quote,
“You can’t wait for customers to come to you. You have to figure out where they are, go there and drag them back to your store.”
It supports the need for better product descriptions for the e-commerce market.
Another critical aspect for increasing the revenue of e-commerce sites is cross-selling.
-> Definition through Instance: If I were a customer and interested in buying a mobile phone online, I would take a look to accessories and offers on them provided by the e-commerce site like screen-guards, back-covers, power-banks, and so on. It is known as cross-selling.
-> Why Cross-selling: Cross-selling along with it brings loads of benefits to the customers. Cross-selling not only is profitable to the seller but also the customers as it saves time to wander for the related accessories and also ties up the customer with the e-commerce site. It generates not only sales but also the customer keeps checking for new offers with other products.
-> Result: This results in the retention of existing customers. Oral publicity causes an increase in traffic through existing customers. For instance, I will tell my friends to check the site for the offers and they, in turn, will speak up to their friends, and the cycle goes on.
Up-selling is another technical hack opted by the e-commerce market.
-> Definition: A sales technique aiming to lure customers for purchasing more expensive and upgraded version of the chosen item or other add-ons to make a larger sale is up-selling.
-> Precision with Instances: Recently I had shifted to a new city with my parents for job purpose. I was in search of a television. I decided to check a few sites that offer TVs in my budget with the desired specifications. When I thought of selecting one the site recommended me of checking other TVs with higher specifications and also with offers. The highlighted part indicates a higher specification TV that has been suggested by the e-commerce site.
–>Why Up-selling? Many e-commerce giants are using the combination of cross-selling and up-selling for maximizing the profit margins.
–>Combo of Cross-sell and Up-sell: Fast food restaurants have mastered the art of both the up-sell and the cross-sell. When you place your order for a value meal, the food cashier might ask, “Do you want the large size?” It is the up-sell. Whether you say Yes or No, the next question before you pay is, “Would you like a shake as well?” It is the cross-sell.
For further reference refer the following link
Recapitulating the entire article, there are four hacks opted by various
E-commerce Development Company for increasing their revenues namely- customer service, writing better product descriptions, cross-selling and up-selling. All these four techniques help in boosting sales and provides a maximized profit margin. I hope, I could give a brief overview of the techniques so that you can adopt in your business and expand it.
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