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5 Ways to Double Your Revenue

Table of Contents hide 1. 1. Increase Site Traffic 2. 2. Conversion Rate 3. 3. Increase Repurchase Rate 4. 4.…


Last updated on January 4, 2022

Retail Intelligence’s March issue covers a great article on 5 ways to doubling your online revenue. Here’s a summary of it.

1. Increase Site Traffic

  • Search is an indescribable asset to driving traffic to our site.
  • Optimizing your site for search will boost traffic.
  • Including a product description on each product page.
  • Consider writing your product description from the perspective of the customer.
  • What keywords are they using to find what they’re searching for?

2. Conversion Rate

  • Average conversion rate is around two to 2% to 4%.
  • Optimize conversion rate by trying different combinations for headlines, images, content, buttons etc.
  • Use social media and customer generated content to build credibility and interest on your site.
  • Customer and fan photos help increase conversion rates.

3. Increase Repurchase Rate

  • Loyal customer is the best customer!
  • What can your brand do to engage with your loyalists and get them back on your site?
  • Give them incentives to shop – exclusive discount offers, contests, and seasonal notes thanking them.

4. Raise Average Order Value

  • A shopper may come to your site to buy a specific product. Offer related items as upsell or cross sells.
  • Customers are curious, and creating a “try these too” kind of tool creates the experience of a virtual shopping assistant.
  • Idea: add a countdown that indicates how far away the customer is from qualifying for free shipping (e.g.: “Add $26 more to reach FREE SHIPPING!”).

5. (Gently) Remind Shoppers of Cart Abandonment

  • 61% of customers emailed after an abandoned cart return to the website.
  • The real tragedy, however, is that 68% of merchants do not send abandoned cart email reminders.
  • Reminding shoppers of abandoned cart is possibly the lowest hanging fruit for merchants.
  • Send gentle and charming email reminders to your customers of the products they left behind.
  • Give them juicy incentives such as exclusive free shipping offers or personalized picks in the email reminder.

What will you do to increase your revenue this month? Post a comment and share!

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