5 Proven Ways to Double Your Ecommerce Revenue

November 2, 2015

11:14 am

One billion. Research published in September 2014 shows that the total number of websites in the world today has exceeded 1 billion, and this goes to show how digitized the world is today; I help people set up their own websites, so it’s been really fascinating seeing the progress the internet has recorded since the early days.

If you run a business and do not yet have a website, it’s high time you start your own website. Research shows that the Internet is currently responsible for 10 percent of the UKs GDP, and that the UKs internet economy is projected to be worth $347 billion by 2016. The US internet economy is much bigger, and it is projected to be worth at least $1 trillion by 2015. Yes, that’s how big the Internet is.

The bigger question is how do you get your own portion of the growing Internet economy? Is it as simple as following the “build it and they will come” philosophy with your website, or does it involve much more? Here are some proven, research-backed tips to help you supercharge your website and get better benefits from ecommerce:

1. Develop a Mobile Strategy

While mobile is only an afterthought for most online businesses, research has shown that mobile Internet usage as exceeded desktop internet usage, and that mobile ecommerce is now almost on par with desktop ecommerce. Recent research from Deloitte shows that 44 percecnt of young people in the UK are addicted to mobile (this was based upon the fact that they pick up their phones more than 50 times a day).

Google also recently announced that they will be giving a preference to mobile-optimized websites in their rankings, and serious losses were recorded for noncomplying websites in the wake of their announcement. If you want to boost your ecommerce revenue, it’s time to develop a mobile strategy. Start by creating a mobile version of your website, or by going for a responsive design that adapts across all devices.

2. Ensure a Seamless Checkout Process

Often times, many businesses lose more than half of their sales due to a cumbersome checkout process. If you’re asking people for their date of  birth and SSN before they are allowed to complete a checkout process, you need to ask yourself if it is absolutely necessary.

Research has shown that reducing the number of form fields on your website, or simplifying your checkout process, can result in a massive boost in conversions. If you really need your users to give you a lot of details, ask them after they’ve completed their checkout and before you deliver their order.

3. Enhance Your Website by Taking Advantage of Website Trust Seals

Very little emphasis is placed on trust seals today, but research has shown that as much as 48 percent of online shoppers look for trust seals on a website before shopping online.

If you’re looking for ways to boost your credibility and get users of your website to trust you more, it might be a step in the right direction to start displaying trust seals on your website; the Norton seal is the most trusted option, followed by McAfee, TRUSTe and BBB trust seals.

4. Improve Your Website Speed

For most online business owners, the speed of their website is either ignored or an afterthought. If you run a website a website that is taking more than 3 seconds to load, research has shown that as many as half of visitors to your website are likely to leave.

Further research has shown that a single second delay in website speed can lead to up to 7 percent loss in conversion.

Put things right be having the right CMS, which is the foundation for your website; Robert Mening did a comparison of the most popular blog CMSs  and WordPress appears to be the leading option.

5. Develop a Solid Email Strategy

If you’re involved in online commerce and you do not have an email strategy, you’re leaving a significant portion of revenue on the table.

Research by Monetate, analyzing more than 500 million online shopping experiences found that email beats search and social combined when it comes to conversions; the study revealed that email converted at 3.19 percent, while search and social converted at 1.95 percent and 0.71 percent respectively. Data from the Direct Marketing Association also came to the conclusion that email generates $39.40 on every dollar spent.

If you want to see a revenue boost, it’s important to start email marketing right away; come up with an email marketing strategy, and ensure you’re doing things right to get the best results. You can take things to the next level by focusing on sending only targeted offers to your subscribers; research by Marketing Sherpa reported up to a 208 percent increase in conversions by sending targeted emails instead of the regular batch-and-blast email.

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Mike Wallagher is a successful entrepreneur who has consulted with startups for 5+ years. He helps businesses improve revenue and get results.

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