Every eCommerce website is blooming today. With the coming of the internet and the growing demand among people for instant digital services, eCommerce has gathered a huge client base. From toothbrushes to air conditioners, everything is available on these websites for your purchase. People now want everything to be available online for them to buy- and let’s face it, eCommerce makes our lives way easier. Inevitably, there is very high competition among the various eCommerce markets. Who gets the most business out of clients and consumers? In this capitalist world, a good eCommerce website becomes the mark of who gets the most profit.
While creating and administering an eCommerce website, there is one thing that you should keep in mind and that is the ROI or Return On Investment. It is a very important metric to be analyzed for ensuring the profit of your business.
ROI is vital since it is the most efficient way of calculating the profit you are cultivating from your business as compared to the investment you are putting in. A high ROI then means your company is thriving. Calculating ROI for eCommerce becomes even more important since being a digital platform, it has sophisticated algorithms that need to be maintained. When we calculate the ROI, we can successfully invest in ad campaigns, etc. to increase our profit accordingly. Your high ROI would lead to an exponentially high profit.
It is no use calculating your ROI if your website is not reaching the targeted audience. You need to first know what your target audience is in accordance with your brand. Is it young ladies you are looking for who like to shop for handbags or people with an interest in car accessories or new parents who are more likely to shop for the range of baby products you sell? When you get to know about your audience, you can give out more personalized sales pitches to these people.
The visibility of your website is an important factor in its success and profit. And that too not just visible to any crowd but to the qualified crowd- to your target audience. What use will it be if your products and services are being advertised to the people who are looking for perfumes when you are selling kitchen utensils? To ensure that you reach out to specific people, to the people who are genuinely looking for you, you need to set out the specific keywords that can find you on search engines. If you want to, when people search for ‘latest Samsung Mobile’, your name ought to pop up in their search results. You need to be attached to all the keywords that are used in your sector. That way, you will get the clients who want to buy something from you.
Apart from visibility, it is very important that when the clients reach your website, they do not encounter any technical issues. To ensure that, you need to keep it updated and have the best engineers work on it. If any consumer faces the slightest of technical issues, they are most likely to abandon their pursuit of purchase and leave. That is obviously not going to increase your ROI.
Attractive Landing Pages
Apart from the technical issues, your website needs to look attractive. With bright pictures and graphics as well as invigorating content, your clients need to be practically enticed by the landing page of your eCommerce website. What you can do is flash big discount numbers on the homepage, place big pictures of your brand ambassador, et al. The content needs to be attractive as well. Not just flashy images but worthwhile content are vital in getting your customers to stay and explore your website.
Enhanced Product Card
It is very helpful to design your product card and display it in an informative way. This is one of the few places where you do not need to be decorative. A clear-cut display of product variables using variation swatches for the texture, size, colour etc will do a lot more good than being decorative. Flash extra information like the expected date of delivery, the details of the product itself (manufacturer, material, expiration, etc.), extra delivery charges (if any), the marked price and the discount rate, etc. You can also add reviews of people who have bought the product earlier. This builds trust and advocates the authenticity of both the product and your website.
Targeted Ads and Emails
These help in building up a connection with the clients. Through analytics, you can easily collect the data of the clients and then send targeted ads and emails to them. For instance, if someone searches for a barbie doll on your website, you can send them an email recommending other such dolls at various prices, by various sellers, etc. This would lead the customer to browse your website more since they are able to explore it easily. More than that, the customers are more likely to spend their money when they think that your algorithms care about their preferences.
It is one of the many forms of marketing and will definitely connect your website to a larger audience. Introducing your brand with the help of an influencer is a great way to increase your ROI because both your website and the influencer’s presence are digital. The influencer can easily promote and endorse your website through their social media accounts and your clients will increase.
Social Media Ad Campaigns
As stated, social media is a great tool for an eCommerce website. For a strong online presence, what you need is a reliable connection and availability. Through social media, you will be able to connect to your clients on a comfortable platform.
Social media ad campaigns are very useful since they can be combined with targeted ads. With the help of analytics and special algorithms, your social media ads will reach those who are actually looking for you. Social media ads will combine all the above-mentioned factors and will definitely increase your Return on Investment. With more reachability, your website will obviously cultivate a huge profit.
This is probably one of the most important things you can apply to your website. You need to nurture the trust of your clients. There can be two steps to it.
- Pre- Transaction trust: Your clients need to feel valued and for that, you can give them offers, send them personalized emails and ads, give them out free-of-cost gift cards or ‘1st purchase free’ coupons, et al. This would attract the clients into doing business with you.
- Post-Transaction trust: Even after their first purchase, you need to make them feel important. After purchase, you can give them more offers or have a point system where the more transactions they do with you, the more points they get and if they get enough points, they get a gift or a coupon from you.
What you can also do is set up a price limit. If the customer purchases beyond this, they would get free delivery or no-cost EMI.
Keep up with the trends
There are many trends and current affairs that your eCommerce website would have to keep an eye on. If Diwali is on the way, you need to get your marketing team specialized in that theme. If the pollution level is on the rise, stock up on air purifiers and masks. Whatever happens around, your eCommerce business needs to stay on top of it.
Get on Android and iOS
A great way to increase your sales and hence, ROI, is by making your website user-friendly. Just desktops will not be sufficient in that. You need to think out of the box and get on with some mobile phone applications. This would certainly make it easier for the customers to browse through your eCommerce brand and get things done quickly. Mobile phones are for your pocket and when people find anything that convenient, they put it in their pockets! Create, design, and maintain your applications and make your services accessible at any time, anywhere. Your clients can do transactions while travelling on a bus! The efficiency of apps would increase your profits greatly.
Diverse Payment options
They do not cost you a lot but make your business more profitable. Not all customers use net banking. Include within your transaction options f20 like UPI payment, maybe e-Wallet, or even Cash on Delivery. Cash on Delivery makes most people feel easy and comfortable while paying and hence, it is more likely to draw customers to buy products from your website.
If you follow these tips, your ROI will definitely increase. Make your customers feel valued and comfortable and that way, you can easily make them do business with you. Customer loyalty is important in any business. While pursuing a business as sophisticated and advanced as eCommerce, you have to be careful because your decisions can lead you to the top of your sector. The future is now and the market is a racetrack. So follow these tips and become the leader of eCommerce in 2022!