Setting up an e-Commerce business might not be that difficult, but increasing the revenue continually and attaining stability is what seems to be a tougher nut to crack.
As a merchant, if you are looking for some great e-Commerce revenue building strategies (that are workable, apart from being great!) then here’s a rundown of some practical and revenue-centric e-Commerce strategies!
- The Social Media Approach. Social media platforms like Facebook, Pinterest, Etsy, Twitter, eBay and Instagram can prove to be really helpful for e-Commerce portals. Create a Facebook contest to engage your fans and attract new subscribers, spread tweets about your new products or services, and make new revenue streams by spurring word-of-mouth marketing.
- Go Mobile. As cliche as it might sound – Investing in mobile is the need of the hour if you wish to tap a greater customer base for your e-Commerce portal. Studies reveal that shopping on mobile devices is the latest trend and smart shoppers do rely on smartphones! So, fuel the success of your e-Commerce platform by taking your portal to mobile devices and help your customers shop from wherever they want, and whenever they want!
- Deals that draw. A deal a day can help you lure customers and win their attention every day. The more interesting deals you put on your e-Commerce store, the more are the chances of your loyal patrons to keep on returning to your online website!
- Referral Marketing. Start a referral program and increase your clientele with the help of your existing customers. Customers will get incentives or discounts to refer your business to their friends and you will earn a good customer base with utmost ease. Simple enough to implement, good enough to increase revenue!
- Logistics Matters. Those who shop fast want their products to be delivered fast! Have a good logistics strategy in place and win your customers with tactics like same day delivery or 24 hours product dispatch.
- Volume Sales. Let your customers shop more by offering them volume discounts. Impulsive buyers will add more to their cart when they will know that they are just a ‘small’ amount away from a ‘huge’ discount. Strategies like volume sales can give a great boost to your e-Commerce revenue. After all, all of us love discounts!