Best Solutions and Examples for VARs to Improve E-commerce Business
When to comes to making money online, setting up an eCommerce store is often recommended. In an attempt to increase sales, value-added reseller (VARs) are often advised to take their business online. However, owning an e-commerce store is far easier than creating a successful online business. In many instances, E-commerce businesses fail within 2-3 years of launch. Many VARs complain about not getting the desired conversion rate from their eCommerce software solution. This can be attributed to various factors that can be fixed to improve online sales.
Here are some useful tips to increase e-commerce revenue and sales
Reduce Shopping Cart Abandonment
Shopping cart abandonment is one of the biggest issues faced by many online businesses including VARs. According to a recent study from Baymard Institute, a web research company in the UK, around 68% of online shopping carts are abandoned. This means for every 100 potential customers on your site, 68 of them will exit without completing the purchase. So one can say that minimizing cart abandonment is the key to recover lost revenue.
It is important that you implement the right strategies to reclaim lost carts. High shipping cost, poor site navigation, and checkout woes are one of the main reasons behind shopping cart abandonment. As a measure to recover abandoned carts, consider offering free shipping or flat shipping rate to your online shoppers and moreover simplify your checkout process.
Let Registration be Optional
Forcing your visitors to register (create an account) before making a purchase, can be frustrating. In fact, many online shoppers consider registration as an obstacle in their buying process. According to a recent report, 29% of online shoppers will leave the site if asked to register. So forced registration during checkout is never a good idea. VARs must simplify the checkout process and allow their online shoppers to place orders without registration. Always offer guest checkout as an option, which can definitely help to improve e-commerce sales.
According to one study, posting multiple product views on site accounts for 58% increase in sales. Product reviews are one of the main reasons why online shoppers go to e-commerce giants like Amazon and eBay. Product reviews are testimonials, a candid endorsement of your products. Hence, consumers tend to heavily rely on these online reviews, while making buying decisions. Evidence of the growing importance of online reviews simply cannot be ignored. Real customer reviews can encourage a hesitant buyer to make a purchase. So if your site does not have any product reviews listed, your eCommerce business is likely to suffer.
Ensure Faster Load Time
Slow loading website can strike a huge blow to your potential conversions. This is because recent findings show that 57% of online shoppers will exit a site that takes 3 seconds or more to load. This pretty sums up how crucial it is to boost site speed. A slow loading site can be detrimental to your VAR business as it will turn away visitors who expect your web pages to load quickly. On the other hand, fast loading pages will automatically lead to increases in page views, conversions, and sales. So make sure to optimize your site speed for increased conversion rates.
Offer Special Discounts/Coupons
Special offers, discounts, and coupons are always welcomed by consumers, as they like to buy from online stores that help them to save money on their shopping. Your special deals will incentivize your visitors to purchase and moreover improve loyalty from your existing customers.
As a VAR, you need to particularly focus your attention on your loyal customers as most business revenue comes from existing customers. Your loyal customers are already interested in your products and generate more revenue every time they visit your store. Hence offering customer loyalty programs for consumers to remain committed to your brand, will encourage them to spend more, in turn helping to boost your business revenue. You can offer more discounts, create exclusive deals such as discounted gift cards, free gifts with purchase etc., for your loyal customers.
Create a Sense of Urgency
Creating a sense of urgency in your eCommerce store is found to be an effective strategy to increase online sales. Letting your customers know that the offers are available for a limited period only, encourages impulsive buying and unplanned purchases. To add urgency to special offers and discount deals to increase the likelihood of the desired action. For instance, you can run flash sales for up to 24 hours, ‘today-only’ promotions in order to entice your visitors to purchase. Many e-commerce businesses add a countdown timer to their promotions to improve sales.
Use Upsells and Cross-sells
Both up-selling and cross-selling strategies focus on selling more to the same customer, hence can lead to an increase in business revenue. Cross-sell involves suggesting related products that complement with the original. For instance, if someone has purchased a laptop, you could offer them related products such as laptop accessories (bags & sleeves, laptop charger etc.)
Upselling involves selling a more expensive item or convincing customer to buy a premium version of the same product. Just imagine, you are selling a PC; Upsell would mean suggesting the same product with high-end features (e.g., PC with advanced graphics card). The purpose is to maximize transactional value and earn more business. When implementing these marketing strategies, make sure your upsells and cross-sells are always relevant to the customer’s original purchase and add value to the customers. Whatever additional product you try to upsell/cross-sell, it must really benefit them.
Use Effective Product Photos
E-commerce business owners, particularly VARs often overlook the importance of having fantastic-looking product images. Product photos can play a crucial role in the success of your eCommerce business. They are considered as a high impact sales tool that can influence your online consumers’ buying decision. High-quality product images put a very good impression on your online shoppers. Your site looks more professional and creates a consistent brand experience.
When you are selling high-quality products online, why display poor quality images and hurt your eCommerce business? So make sure your product photos are enticing, convey the details of the product and available from different angles. Also, each of these product images should have a zoom feature that will enable your visitors to view the minute details of the product.
Provide Gift Wrap Options
Online shoppers often purchase products to send as gifts to their near and dear ones. So make sure your checkout process offers gift options. Non-availability of gift options can lead to loss of potential customers. Your customer should know exactly how the gift-wrap looks like. So provide your online shoppers an option to select a gift wrap on the cart page. Also, many times visitors want to add a personal note to the gift. So give your visitors the functionality to include a personalized message on the package label.
Use Social Media
In recent times, the use of social media has become prevalent worldwide. Companies all over the world have been leveraging social media to grow their business. Hence, as a VAR, you simply cannot ignore social media for your professional goals. Various social media platforms such as Facebook, Instagram, Twitter etc., can be used to drive traffic to your site and increase sale. You can run paid campaigns on these social media platforms to increase your business reach and attract potential customers.
Use Google Analytics
Google analytics is an effective website traffic application that can help in growing your eCommerce business. The application provides information about how visitors are interacting with your website, level of traffic and engagement. Moreover, it also helps you to measure the success of your digital marketing campaigns.
With Google Analytics you get actionable data that can be helpful to boost traffic and conversion rates. For instance, with Google Analytics, you can identify the web pages that are being frequently visited as well as the time spent on each individual pages. They can know from which section, visitors are leaving your site and even find out why they are dropping off the website. You can then accordingly make changes to your site to increase engagement and sale.
Shane is an American writer for various digital news publications. After being in the eCommerce industry for more than 15 years, Shane has a good understanding of what it takes to make an eCommerce business successful. His articles give insights into the latest trends in the B2C and B2B eCommerce industry. His e-commerce coverage is robust and provides everything from the best eCommerce platform to improving your website site. He also likes to cover newsworthy events related to business management software, customer relationship management (CRM) and Quoting software