So, your eCommerce store is up and running, orders are flying in and you’re capitalising on all the benefits that an online store has to offer—of which there are many.
But despite the limitless opportunities that eCommerce provides, you might well still be wondering, Am I doing everything I can to maximise the ROI of my online store? and Are there any tweaks I can make to improve this?
These are useful questions to ask.
After all, competition is fierce and customer expectations are growing by the second. It’s crucial, therefore, that you consistently look to improve your site to keep up in this rapidly-changing commerce landscape.
In this article, we’re going to explore 5 methods to help you squeeze every last drop of ROI from your eCommerce site.
Read on to boost your ROI today...
Increase Average Order Value
Do you sometimes get the feeling that your sales are plateauing? Or that your average order value (AOV) is remaining at consistently low levels? One method to address this is to focus on customer acquisition. But a far more valuable method is increasing the average checkout spend of your existing customers.
Here’s how you can do it:
- Incorporate personalised recommendations on product pages and at checkout. By placing an appropriate product directly on a customer’s lap (rather than them searching for it) you’re more likely to complete a new sale.
- Offer complementary products on the product page or when checking out. By offering handpicked items, directly related to the original product, you can ramp up AOV. Selling a camera? This is your perfect opportunity to offer a case, batteries, tripod, a photography ‘how to’ book, and more. The majority of products will have at least one complementary item that you can cross-sell. Or instead, upsell to customers by promoting an upgrade or higher value version of the product.
By introducing complementary accessories at checkout, Vaimo client, Blue City, saw sales for the month after launch exceed that of the whole year beforehand. Learn more here!
Use Email to Nurture Customer Relationships
Email marketing provides you with direct access to your customer and so is a crucial tool in maximising your eCommerce strategy. And whilst your email contact book is a great asset, it also means that you need to treat it with the utmost respect—otherwise your customers will be unsubscribing like there’s no tomorrow. It’s vital that you put the necessary thought and craft into your emails so that it provides real value for your customers.
Drive up your sales today using email in the following situations:
- Post-purchase is an ideal time to engage with your customer. Whether it’s offering extra product information, aftercare, special discounts on the next purchase or relevant complementary products, this email campaign allows you to keep up a dialogue with your customer, build trust and nurture your developing relationship.
- Research indicates that average cart abandonment is high—almost 70%, but that abandoned cart emails have a relatively high open rate of 44%. Again, there’s a chance here to use email to re-engage with abandoned cart customers and to direct them back to complete that sale!
Generate Social Proof
Social proof is a demonstration that other people have purchased and enjoyed a particular product/service, thereby encouraging you to do the same. This is particularly powerful in the eCommerce arena where consumers are craving validation and reassurance from their like-minded counterparts prior to purchase. Your business can tap into the power of social proof by integrating user-generated content (UGC) throughout the customer journey.
UGC is extremely cost-effective and, as consumer-led text, is valuable to other shoppers and to search engines. Regardless of whether you already have purchase intent, and regardless of whether you know exactly what to buy, you will still look at what others have said. So leverage UGC on your site (through reviews, testimonials or social posts) to build trust, brand loyalty and ultimately sales.
Simple and Secure Checkout
You can have the best looking site, with the smoothest navigation and the most aesthetically pleasing design, but that’s all for nothing if a customer does not or cannot go through with their final purchase with ease. Imagine the scenario where a customer is ready and willing to make a purchase but then as they try to do so, they encounter problems. They get redirected to another site in order to finalise the payment, the store is in another country where the credit card is not accepted, the payment authorisation is not instantaneous and so the customer abandons the shopping cart.
At a time when customers hold all the cards in the merchant/customer relationship, it’s crucial that you offer payment options that are quick (think the tap of a button), easy (no extra logins needed) and secure.
At Vaimo, we integrate a number of payment platforms to drive success for our clients. Download the Vaimo Partners Guide today to learn more about how these platforms boost conversions through quick and easy checkout experiences.
Be Where your Customers are
If there’s one thing that the modern day customer is not… then it’s static. Your customers’ movements and interactions with your brand are fluid. Not only are customers flipping between devices but they’re also jumping across your channels—be it in one store, another store, your eCommerce site, your Instagram page or your customer support.
It’s key to keep this in the back of your mind as you plan and develop your eCommerce strategy. After all, customers want a relationship with you at every touchpoint, and they want to know that you care about them (in and amongst the millions of other shoppers out there).
So in terms of eCommerce ROI, the creation of compelling and value-adding digital experiences lies at the heart of all other initiatives. Because this is what will deepen customer relationships, drive brand loyalty and lay the foundations for long-term and secure growth.
At Vaimo we partner with brands, retailers and manufacturers across the world to accelerate their B2C and B2B online sales. Contact us today if you’d like to hear how we can help grow your sales with our award-winning digital storefronts.