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How to Increase Revenue of Your Online Store

by Olufisayo
How to Increase Revenue of Your Online Store

Although running an online e-commerce store is much easier than a brick-and-mortar one, there is a lot to take care of. In fact, after you’ve started an e-commerce store and it starts to grow, it can get quite complicated. This is the reason that many online store owners are likely leaving a lot of money on the table. They feel that once they’ve chosen their fulfillment companies, payment processors, and are running paid ads, there isn’t much else to do.

The reality is that running an e-commerce store successfully requires that you are constantly trying new things and fixing what isn’t working. This is the only way to grow your revenue. In this article, we will go over several ways that you can do this.

Optimize the site for conversions

Usually, when e-commerce site owners decide to try to make more money, the first thought is that they need to increase traffic. Although that isn’t a bad idea, it can take time and cost money. There is a faster and more effective way to increase revenue by using the traffic that you already have.

Increasing conversions is the best way to grow revenue quickly. Usually, sites are under-optimized and this affects revenue. The first step is to optimize your site. This involves making improvements across the board that help people make a purchase.

Begin by taking a look at your checkout process. If it is too complex, then it is very likely that many users will opt out and look elsewhere to make a purchase. If your site doesn’t have good security then this will also discourage people from following through with their purchase.

The site should be easy to navigate so that the user always knows what is next to do. Make sure there are plenty of clear call-to-action buttons that allow people to know how to proceed.

There is a technical side to deal with as well. Make sure the site loads quickly as slow sites are frustrating to use. It is also a signal for Google to lower your ranking.

Do testing

There is no way to know if your site is running at its peak if there is nothing to compare it to. This is why you have to run tests frequently to understand if things are optimized. For instance, are your paid ads as effective as they could be? Run some A/B tests to see if they are actually as good as they can be.

The same goes for your landing page and even the product page descriptions.

Increase marketing efforts

Your marketing should be an ongoing process that is always evolving. For instance, if you aren’t using influencers in your efforts then there is money left on the table right there.

Influencers in your product niche are highly trusted by their followers. Partnering up with them is a good way to increase your brand awareness and also increase sales. They are usually not very expensive to work with and offer a good ROI.

Photo by Kampus Production from Pexels

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