5 Ways to Make Your Ecommerce Store More Profitable
At Moselle, our main focus is ensuring that we’re making the process of importing products for your business as easy as possible. However, we don’t want to limit ourselves to that, because there’s other areas of business that importers need to focus on while scaling.
That brings us to this article.
With many of our customers owning ecommerce businesses, we want to share a few ways that you can make your online store more profitable. With the amount of articles out there sharing what to do to make your business more successful, we decided to just do the research for you so you could see some of the best, top tips in one article.
Ready to find out what they are?
When it comes to online shopping, there’s one thing countless consumers can agree on; we don’t feel like the brands actually KNOW us. We’re basically just an order number and a revenue amount.
Though ecommerce businesses want to move their stores to a more personalized customer experience, it can be difficult if you have many of them. So, that’s why it’s smart to start these efforts from the beginning, that way they’re ingrained in your foundation.
So, what exactly is personalization? It’s not just adding in “Hi [first name]” to the start of your emails. This involves truly understanding your customers and using retargeting efforts, surveys and more to truly understand what certain customers want. By feeding those customers what they want to see depending on their interests, what you’re marketing to them feels more personal, tailored and like they aren’t just a number.
Another big part of personalization is intertwined with your customer support. As your company scales, it can be difficult to keep track of those loyal customers. The problem is, if a customer buys from you often, they expect you to know their buying history, information and more if they’re asking questions. This is why organizing or having a system that organizes customer profiles is so essential.
There’s a great opportunity when it comes to personalization with email marketing through segmenting email lists based on interest. By doing this, your brand is able to properly send people communication they actually want to see.
Outside of this, your email marketing efforts can turn into an incredible revenue stream if you’re able to make your newsletter subscribers feel exclusive. You can do this through offering things like:
- Early access to sales or new products
- Exclusive access to content before anyone else
- Consistently updating them on business happenings
Lastly, to pull all this off and actually have your newsletter subscribers trust you and continuing buy, you have to be real. Email has become one of the most robotic forms of digital marketing, and by standing out by humanizing the way your subject lines and content is, you’re standing out amongst the crowd.
Have a proper content strategy
We’ve all heard the phrase Content is King but the problem is, it can’t be that without a proper integrated strategy.
Your content needs to feed into all your marketing channels and stay cohesive throughout. This isn’t just to maintain consistent messaging but also so that your brand stays on point and looks organized. Without that content strategy, brands tend to look messy to new, and existing consumers.
A proper content strategy also allows for planning ahead, especially during times like Black Friday / Cyber Monday. When you plan ahead like this, you’re able to get strategic with your content in a way that allows customers to better flow through the marketing funnel.
Test, Test & Test Some More
The key to making your ecommerce store more profitable is clearly understanding your customer base. That’s why A/B testing as much as possible is so important.
You can do this with email and with advertising and you can randomly test different ideas organically through social media. By testing things like subject lines, call to actions, imagery and more you’re able to understand what your customers respond to most.
If you continuously send out content that hasn’t been tested directly against something else, you may never know if your brand could be bringing in further revenue or not. These tests oftentimes show glaring differences between one version and another which can heavily impact outcomes of future campaigns.
Focus on Customer Experience
Now, this basically ties into a lot of what we talked about above. However, it deserves its own section.
When it comes to ecommerce, oftentimes people are so focused on automating that they forget what a customer experience truly is. At Moselle, our biggest focus is on our customers and their experience with us and our product. Since countless ecommerce brands don’t adopt that mindset as they scale, it’s the perfect way for you to stand out.
If you have processes that focus on ensuring customers are getting fast responses that are accurate while ensuring that they feel like they’re part of your brand’s family - you’re sure to make an impact.