If you’re a business owner, there’s a good chance that you have considered creating an online store to widen your customer base and increase profits. The number of online businesses is rapidly increasing. According to the U.S. Department of Commerce, e-commerce sales in the fourth quarter amounted to $218.5 billion, a staggeringly large number.
Moreover, there’s a market of over 230 million online shoppers in the US alone, and 2.14 billion digital shoppers worldwide. If you have an online store you’ve been wanting to grow or are planning to launch an e-commerce store of your own, now’s the perfect time to get working. There are more tools designed for online stores available now than ever before to set you up for success, and we’ll be looking over four such tools.
Online Loyalty Programs
Loyalty programs can be seen everywhere, but they’re particularly great for online platforms. If you’ve never tried e-commerce before, customer retention might be one of your main concerns since you won’t be interacting with them as much anymore. You’ll have to rely on your website design to make your customer’s experience excellent. While a great interface is certainly helpful, however, the key to customer retention for e-commerce platforms is their rewards system.
A well-developed loyalty program will help keep your customers hooked to your dealership. The most important components of a good loyalty program are its rewards and the amount of active participation from the client that it requires. By studying the reward systems of your competitors and creating a system that exceeds theirs, you will give your customers another great reason to stay.
Virtual Product Testing
Product testing can be a very tedious and complex procedure involving several factors and costs, but with new technology, it doesn’t have to be that way anymore. Virtual product testing lets you get an idea of how different combinations react without having to physically take pains to try them out.
If you’re trying to grow your business, launching new products and scaling up are inevitable and necessary steps. By virtually performing your mixing scale-up calculations, you’ll be saving a lot of cash and testing out more products quickly. Although this step is more of an investment, it is the most crucial one if you truly want to witness the rapid growth of your business.
Search Engine Optimization
Underestimating the amount of power that your web copy actually holds can lead to the downfall of your e-commerce store. Professional copywriting will not only make your website stand out but also help you reach out to more customers for more engagement. Optimizing your web copy for search engines will ensure that your website’s traffic doesn’t slow down.
In addition to SEO, another important step for attracting more online buyers is using content to your advantage. By making your store a host for entertaining and informative web content, you’ll be directing new customers towards your brand effortlessly. Even a simple thank you page after your customers’ order is a perfect personal touch. You can edit your thank you page easily. Here are some examples on how to edit thank you page on Shopify. It’s also worth remembering that search trends change on a day-to-day basis, so remember to tweak up your website’s copy periodically to optimize it for the current and upcoming trends.
Pre-Order System
A pre-order system will massively reduce your losses and save you inventory space by helping you calculate demand precisely before you even start production. A pre-order system is essentially one where you ask your customers to order an unreleased product. After the pre-order period is over, you can then set off the batch for production.
This will save you a ton of resources, and you also won’t have to take pains and estimate your production scale. A web system order will massively reduce your losses loyal customer base or if you manage to create a lot of buzz around your product. It is ideal that you first establish yourself before switching to this method, but its benefits are absolutely worth it.
Increasing profits is an important goal for any business owner, but the methods you use to achieve it make all the difference. Instead of increasing your product’s market value right off the bat, it is more beneficial for you to try reducing production and marketing costs or use more passive methods to make more money. With our methods, you’ll find it much easier to increase profits strategically – and you’ll potentially improve your customer retention, too!
Feature photo by RODNAE Productions
