Choosing e-commerce during a downturn
When global spending is down its important to maximise all revenue streams. One such place where alterations can have dramatic, cost effective, and in some cases overnight success is in e-commerce.
When times are tough, most of us our looking to save money. It is important that if you have an online presence, that you are making the most of it, and if it's and e-commerce store, all your efforts to combine strategies are working seemlessly together.
When reviewing your e-commerce strategy one of the first places to look is how many unique visitors you have coming to your site. Visitors is always something that can be maximised, take a look at your e-marketing campaigns to see what area can be improved. Are your targeted key phrases well placed in search engines like google? If not, you need to analyse the search engine optimisation and content of your site. yello studio can help with link building, page quality, social media and competitor analysis. If you don’t have an SEO agency or expert in your company give us a call for more expert advice.
Online advertising is a fantastic avenue to look at, but it is essential to monitor its effects. If the traffic it drives does not convert, it is money wasted - it's essential that any online advertising campaign is tracked to monitor conversions. When monitoring your traffic you need to see how people are arriving at your site, search engines don't just send visitors straight to the home page. Check the popular 'entrance pages' have your products available to sell, don't force the user to hunt down your offer, because invariably they will not.
Minimise 'drop off's' and maximise conversion by analysing your 'purchasing funnel'. The purchase funnel is a group of stages a user will go through whilst making a transaction, for example once the product is added to the basket you need to capture credit card details, shipping address, postage details and more. The purchase funnel can always be improved; is it obvious that the site is secure, do users drop off when they see a postage charge - consider waiving it, or perhaps there basic usability issues stopping your visitors converting their interest to your bottom line. Consider multi-variant testing and see how even the smallest changes can have dramatic effects, whilst minimising any risk from making changes.
Once your convinced you have an effective e-commerce website, try cross-selling to maximise revenue from sales, if someone is buying a laptop, they will probably be pleased to be shown cases designed for that laptop size, and maybe to incentivise the sale you could add a multi-buy discount to encourage them to add the extra item now instead of later.
Take a moment to review your website, and if there is a weakpoint, try something new, you may be surprised by the results.
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