With more and more competition in the ecommerce market, now is the time to invest in your sales strategy to make sure your business comes out on top.
- Discover six strategies that will help boost sales and increase revenue for your ecommerce business.
- For every strategy, there are recommended Shopify apps that you can install that will help make implementing these strategies that much easier.
- From increasing the value of current customers to winning back old ones, there’s a sales plan for every ecommerce business.
2020 has been a year of highs and lows for ecommerce businesses. Consumers turned to online shopping when physical stores were forced to close, with experts predicting global ecommerce sales expected to reach $4.2 trillion by the end of 2020. Yet at the same time, physical stores also moved online, creating even more competition in the world of ecommerce. So how do you make sure that your Shopify store reaps the benefits of this ecommerce boom? It has never been more important to remain competitive and stand out from the crowd.
To boost sales and increase revenue for your Shopify store, here are six tried and tested strategies that you can employ right now, along with some recommended Shopify apps to put them into action.
Subscriptions to increase recurring revenue
Subscriptions can be a great way to create additional revenue streams for your Shopify store; once you sell a subscription, you have guaranteed regular income. For example, cosmetic companies often sell beauty subscription boxes, with monthly packages of their latest offerings. Two useful apps can help streamline your subscription offerings and boost your sales. Bold is a super flexible option, where you can change and adapt your offerings to easily suit your customers. They are also free to change and update their own personal information, delivery schedules and so on, so there is less work for your customer service team to manage.
Another Shopify app integration, reCharge, will seamlessly integrate with your existing Shopify store, allowing users to checkout as easily with a subscription as with a single purchase. Having fewer obstacles in the buying journey always helps to reduce friction and increase conversions.
Loyalty to increase customer lifetime value
Loyalty programmes, such as point systems, referrals and rewards, are great ways to increase the customer lifetime value, or the amount of value customers provide to your business throughout their entire relationship with your brand. If you can reward customers for making repeat purchases, you can generate a lot more recurring revenue from a single customer who has more motivation to purchase your products.
Boost your retention rates by incorporating either of these Shopify apps, LoyaltyLion or Smile.io. Both have excellent, customisable loyalty schemes ready to integrate with your store, so you can start incentivising your customers to make more sales and referrals right away. Customers can earn points not just for purchases, but for newsletter subscriptions, social media following and product reviews, ensuring they are more likely to shop often with your brand.
Reviews to drive social proof
88% of modern consumers trust online reviews as much as they do personal recommendations. People are used to taking the actions and opinions of others as fact, a marketing phenomenon known as social proof. Using reviews as social proof will encourage your Shopify visitors to make a purchase from your store as the endorsement from their peers or real customers will give them confidence in that product.
Fera offers tools to both boost the amount of reviews you receive and display the ones you already have, with SEO snippet optimisers for reviews and average review ratings. Another great app option for boosting social proof is Stamped.io, which makes it easier than ever to gather user-generated content, like photos, videos and community questions.
Email marketing to boost engagement
Engage with your mailing list and drive more traffic to your website by connecting with customers via email. Being relevant and memorable to your customers makes it far more likely for them to head to your website when they’re ready to buy.
Klaviyo can help supercharge your email marketing without forcing you to sink endless time and resources into the channel. With combined data from both Shopify and other leading apps, you can easily see what is resonating with your customers and even launch remarketing campaigns to bring prospective customers back to your ecommerce store. For example, win back lost sales by emailing customers who abandoned their carts or persuade unconvinced shoppers to purchase by luring them with special offers.
Upsell to drive additional sales
Upselling is a clear way of driving additional sales by promoting more products and packages to your customers throughout their buyer’s journey. Catch your customer before they leave with this Post Purchase Checkout Upsell, keep your products on the checkout page with this sliding Ultimate Cart Drawer, or incorporate cross-selling and specially-designed landing pages into your sales strategy with ReConvert Upsell & Cross Sell.
Cart abandonment tools to boost conversions
The average cart abandonment rate is 67.9%, meaning a large number of potential customers are failing to complete their purchases. To make sure your sales don’t fall at the last hurdle, consider employing CloudIQ to help boost conversions. With pop-ups and email strategies designed specifically to target those who have abandoned their carts, customers are reminded of their almost-purchases and are encouraged to go back and complete the sale. As they click away from their cart, a pop-up will make them think again.
These sales strategies and their supporting Shopify apps can help to troubleshoot problem areas of your business and alleviate common ecommerce issues, overall boosting your sales and increasing revenue. At a time where every business has an ecommerce presence, make sure your business doesn’t fall through the cracks.
If you’re unsure of which ecommerce sales strategy would best suit your business and are keen for some more personalised advice, we’re here to help. Book your free strategy consultation with one of our Shopify specialists ahead of your ecommerce project.