Ecommerce vendors have more tools than ever to increase visibility and orders, but this trend has also made the field far more competitive. Businesses that fail to adapt to the latest industry developments will quickly fall behind more forward-thinking competition.
This article will cover some of the simplest and most powerful ways to boost ecommerce sales in nearly any field. Keep in mind that these strategies require consistent analysis and adjustment—the best marketers are always looking for new ways to differentiate their brands.
Target Existing Customers
We’re often focused on bringing in new leads, but existing customers are even more important. It’s significantly cheaper to target existing customers than new ones, and retargeting is one of the most common missed opportunities among ecommerce businesses. Loyal customers are more likely to order, and they also tend to have larger orders compared to new leads.
Fortunately, there are a variety of easy ways to focus on generating ongoing value from your existing audience. For example, you could start a loyalty program and offer customers incentives for continuing to engage with and buy from your brand. These perks are a small price to pay for a loyal customer.
Similarly, you should reach out to inactive customers before they completely disengage. After a few months, send an email with a bonus such as free shipping or a discount to try to win them back. If they don’t open or respond to this message, remember to remove their information from your list in order to maximize email deliverability.
Of course, email isn’t the only way to target existing customers. Consumers want to interact with brands on a variety of channels, so it’s important to offer a flexible experience. Sending SMS to your customers can be more convenient than emails and may lead to higher open and order rates.
Eliminate Abandoned Carts
Most online shopping carts are abandoned before the user finishes their purchase, and reducing abandoned carts will have a significant impact on your sales. Abandoned cart sequences target developed leads who were close to buying their first product but weren’t ready to commit.
Abandoned cart notifications should show up within an hour of each user’s visit, while your brand is still fresh in their mind. At this stage, a simple reminder may be enough to make the sale. Remember to include a clear image of the product or products in their cart.
If they don’t respond to your first message, send another one the next day with an additional offer to make them reconsider. For example, a time-sensitive promo code for 10% off will create a sense of urgency and provide an even better value.
Upsell and Cross-sell Products
While the first two tips are designed to generate new orders, upselling and cross-selling are better for increasing average order value. Upselling involves promoting more expensive items or variants, while cross-selling involves promoting items that complement what a user has already added to his or her cart.
If you’ve ever seen ads for similar products on Amazon, you’ve been the target of an upselling or cross-selling campaign. Cross-selling is particularly effective since customers who are interested in one product are likely to be interested in a complementary one.
Keep in mind that these tactics can be combined with other workflows for even better results. In an abandoned cart sequence, for example, you could recommend more expensive variants along with the item in their cart. Similarly, you might re-engage inactive users by promoting relevant products based on items they’ve purchased in the past.
The most common mistake in these campaigns is using overly sales-oriented language that doesn’t demonstrate a clear value. In other words, it’s important to consider upselling and cross-selling from the customer’s perspective and explain what the product in question can do for them.
Ecommerce marketing can be extraordinarily complicated, but these simple strategies lead to reliable results. While attracting new leads is obviously important, these three tactics focus on more valuable targets: existing customers and users who have already added products to their cart. Increasing retention and average order value will have an immediate effect on revenue and help you develop more lucrative customer relationships.