3 Simple Ways to Maximize Revenue Opportunities for Your Ecommerce Store
Let’s ask one very simple, but important, question. Are you taking advantage of all revenue-generating opportunities?
As you can see, this is one very simple question, and if you answer it sincerely, you can check the temperature of your online store.
There are many ways to increase revenue in an ecommerce. One way could be to get more qualified traffic interested in your products. Another way to do it is to directly increase prices (however, this can do more harm than good).
Another effective way to generate more revenue with your ecommerce is to earn the trust of the people who visit your website, and once they have become clients, increase their frequency of purchase. A repeat purchase is your best friend.
The truth is that you have to start ensuring repeat purchases from the very beginning. Before someone even buys your products, you need to plant the seed of a repeat purchase.
Another way to increase revenue is to ensure you don’t lose the chance to convert a site visitor into a customer. You want to offer as many opportunities as possible for someone to become a buyer.
In today’s post, we’ll discuss 3 ways how you can accomplish all of this.
- Capture emails before they are customers
Get your customers’ contact info before they even make their first purchase. There are people who visit your store only to never return again. Why? There is a multitude of reasons why someone would ditch your site and never come back, and it’s not always because they didn’t like your site. They may have liked your site but forgot about it. Those potential customers are now lost in the wind.
Remember this: A person who visits your shop and doesn’t buy on their first visit is not someone who is necessarily disinterested in what you have to offer. It’s your job to give them multiple opportunities to make a purchase—whether that’s on their 5th or 100th visit.
How do you offer these visitors multiple opportunities to make a purchase? You capture their email.
Capturing an email when they first make a visit to your store is a smart choice. Capturing an email is as easy as offering incentives (a.k.a lead magnets) to site visitors in exchange for their emails. An incentive could be anything that can be considered valuable to your customers.
We’ve talked about email marketing extensively, so if you want to learn more, click on these posts:
https://zen.agency/2014/06/fix-email-subject-lines-improve-open-rates/
https://zen.agency/2014/06/beyond-sale-email-marketing-evergreen-strategy/
- Comprehensive Monitoring
In any ecommerce business, it is very important to keep detailed track of customers.
You need to know how many times someone has purchased, how much is spent per order, etc. The more important information you have, the better.
So you can start using any platform email marketing platform (Mailchimp, Aweber, etc.) and create groups or client lists based on the information you have.
For example, let’s say that you’re gathering email addresses. You don’t want everyone on the same list, so it’s better to segment them. You will want to segment buyers from leads; buyers will be on one list and potential buyers (leads) will be on another. The marketing messages that you send will be tailored to the identity of that list. So, to your buyers list, you will send messages that will encourage them to make repeat purchases, and for your leads list, you will send out messages to push them to make their first purchase.
But what happens when your database of customers starts to grow? Managing all that information effectively can be complicated?
At that point, you can start using a CRM (Customer Relationship Manager).
A CRM is nothing more than a tool that allows you to manage the database of your customers. You can create segments of your customer base, which will allow you to create more customized marketing promotions.
Now, maybe you believe you don’t really need a CRM. You think it’s too expensive and unwieldy.
Maybe that was the case a few years ago, but today there is a huge range of very affordable CRMs (including some free ones) that are much easier to handle. Many of them are designed for small and medium-sized enterprises.
Here are a few CRMs that can be integrated with WooCommerce:
- Salesforce. This CRM can be used with this plugin to integrate with WooCommerce.
- Sugar CRM. This CRM can be used with this plugin to integrate with WooCommerce.
- Agile CRM. They have a WooCommerce plugin that you can try.
- Create Effective Marketing Campaigns
So, now you’re organized. You’re using your email platform and/or your CRM to manage and segment your customers. Now you need to impactful marketing to encourage them to make purchases.
If you’re using email marketing, don’t send the same emails to all of your lists, because that will defeat the purpose of segmentation. If you want to encourage repeat sales (which could be your bread and butter) send emails that are tailored to get them to buy again.
Are you ready to discuss your next ecommerce website or marketing project with the leader in WooCommerce website development and digital marketing? If so, contact Zen Agency today! We are a group of Marketing Geniuses.
