3 Best Ways to Increase Revenue in 2021
Aligning your tools to fuel growth the e360 way
Wading through the thousands of eCommerce marketing tricks and latest "must-have" apps feels a bit like taking a trip through the Wild West without a map. It's easy to get bogged down in the details of this week's task list and fall behind on your "big picture" marketing strategy. We get it. Our best advice is to take a deep breath and remember the basics. Your goals are to:
Drive traffic to your site
Convert traffic into customers
Increase the average order value of each sale
This is what we call the e360 method. Let's dig in.
1. Drive Traffic
Traffic is at the core of every eCommerce strategy. Like traditional brick and mortar stores getting foot traffic, a site needs a steady flow of visitors. When you're first starting, paid advertisements and social media campaigns are fantastic marketing tools to gain initial traffic. Paid search results earn 150% more conversions than organic results and 65% of all clicks made by "users who intend to buy" go to search ads. However,... eCommerce shoppers are savvy.70-80% of searchers skip over paid advertisements and jump right to organic results. A healthy organic keyword content plan is vital to your ecommerce strategy's long-term health. Maintaining both paid and organic keyword strategies is the best way to keep a steady traffic flow to your site. While SEO companies like Moz are well known, we also recommend an all-in-one approach from providers who focus on driving traffic, boosting conversion and raising average order values. Look for providers who can monitor your top keywords, analyze your competitor's campaigns, and create action lists of data points on your site, which can quickly improve your site's SEO. We also believe in working smarter, not harder. Our traffic builder tool automatically creates high-ranking landing pages based on your site's search analytics and customer shopping behavior. With these SEO tools in your arsenal, you can keep track of your traffic's sources and maintain a site that draws the right crowd to convert.
2. Boost Conversions
A lot goes into the psychology behind why a person decides to purchase on any given site. As marketers, we can look at design, language, and user experience to understand why conversions are made. But there's one area of your site that you're most likely overlooking that crucially impacts your conversion: the search bar. 43% of searchers go directly to a site search bar to look for a product. While that's less than half, these are your most serious shoppers. Site searchers are 2-3x more likely to convert than all of your other traffic. Site search is eCommerce's best-kept secret. 72% of site's search engines fall short of expectations and lead to failure to convert. If you haven't looked into your site's search feature, there's a good chance you're missing serious conversion opportunities. Here are some of the top search features that can help your conversions:
Site Search: Return search results instantly based on the UB Natural language processing (NLP) and our advanced AI. As search terms are typed, an elimination process narrows down the results to the best-fitting products for your customer.
Advanced Auto-Complete: Advanced auto-complete that self-learns, predicts, and initiates a search for a speedy customer experience to increase conversion.
Intelligent Navigation: Connect your site's product listing pages (PLP) with our engine to power the search results pages (SRP) and the category pages listed in the shop navigation. Enable the engine to gather customer-journey information and apply it to the Machine Learning and AI to dynamically rank products and filters on the PLP and the SRP.
Dynamic Merchandising: Promote (or demote) individual products for a specific search term or category page. The category-promotion campaign also allows the promotion/demotion of entire product groups, such as sub-categories, brands, or any other attribute.
While other site search apps offer individual solutions, our team provides all of the above site search conversion features together, with the expertise and results to back it up.
3. Score Larger Orders
The last part of the e360 strategy is to increase your order size or upselling. Traditional brick and mortars have perfected the art of upselling through brightly colored displays of chewing gum, gifts, and gadgets around the checkout lines. Online, the same concept is shaped into product recommendations and deals before checkout. Make sure your site's product recommendations are fully functional. Our product recommendation tool recommends relevant product suggestions on the product, cart, and checkout pages, using past purchase history and natural language processing to increase your average order value and watch your revenue grow.
Conclusion
Keeping track of your traffic, conversion rate, and average order size is the perfect formula to understand how your marketing impacts eCommerce revenue. Look at how they interact with each other and make sure you aren't missing any of the opportunities we mentioned above. Share your thoughts with our team and sign-up to our newsletter for more e360 tips directly to your inbox!
