Oct, 15 2016Online Business Strategies That Dramatically Increase Revenue
We all want to increase our sales. It’s the simple way to achieve business success. But many companies only focus on one manner of creating additional revenue streams. “”Get more customers”. This is not to say that getting more customers isn’t important, because that is clearly a key component of online strategies to increase business. But it shouldn’t be your only focus.
We’ll look at a few concepts, including increasing your clientele, that should make your company more profitable.
Online Business Strategies That Work
Get more customers
Since we’ve mildly addressed this, we may as well start here. Most businesses realize this to be their first target to make more money. So the burning question is “How do we get more customers?” The answer comes in a few parts. First off, you have to stand out from the competition. Whether it’s through quality, quantity, affordability or recognition, you have to be able to offer something better than what the other guys offer.
Once you’ve got a potential customer to your website, you have to be able to convert them into a buyer. This means you need to be able to increase your conversion rate, through images, useful content, and strong calls to action that let a prospect know exactly what they should do next.
Upsell orders with relevant accessories
Have you ever grown tired of a fast food place trying to offer you a drink or fries with your order? You just want the burger, right? But it makes sense to add those things, and in many cases, it will lead to a conversion. The same applies to whatever you might be selling. If you have a product, look to promote other products directly related to what they’re already buying. It’s better to do this near the end of the buying process, for example, at your cart page.
Offer an accompanying product at a discount, or as part of a package or bundle deal. You’d be surprised how often a buyer who has already placed their trust in you to take the next step to buy, will also “add on” to their original order. Which of course, means more money for you. Since they’ve already committed to the buying stage, they won’t feel uncomfortable about being asked to buy related products, as opposed to trying to sell an uncommitted site visitor.
Repeat customer sales
The easiest person to sell to is someone who has already bought from you before. They’ve passed the trust test, they like your product, and they know how to make a purchase on your site. Plus, keeping a valued customer is far less expensive than trying to mine for new one’s.
So, what are the most effective ways to bring back those repeat customers? A great start would be through email marketing. Compiling a list of email addresses from valued customers is important, and those who pay your bills should be the primary focus of your email efforts. If you have an amazing deal, or sale that you’re promoting, be sure to let these favored customers know about it. This campaign can (and should) include promoting via social media as well.
Other offers, such as free shipping, or coupons offered through transaction confirmation emails have shown results that make them worthwhile to pursue when you’re marketing your business.
In the long run, you should have an easy to use website platform, where people can navigate throughout your site with no issues. Couple this with a clear call to action, and exceptional customer service, and you’ll find yourself taking huge steps towards having online business strategies that really work.