4 strategies to increase revenue for any ecommerce business

E-commerce is one industry where the coronavirus pandemic has created opportunity, not a crisis. The digital retail business, which flourished even before the pandemic, became even more prosperous in 2021.

In a time of constraints, the e-commerce industry has emerged as a true winner, turning unfavorable conditions into signs of growth. However, this testifies not only to the general expansion of the market, but also to greater competition in it.

Many entrepreneurs feel overwhelmed by the relentless competition in the ever-evolving online world. This is why there is a growing demand for competent organizations that can help. Ads And Funnels has a proven track record in this regard.

Company founders Michael Kelly and Brittany Bush sat down with us to share tips and tricks for building an outstanding e-commerce brand in 2021 that will help you stay ahead of your competition.

Create brand value

Brand value is simply the sum of how much people are willing to overpay ($ 100 for Levi’s jeans, as opposed to lesser-known brands), or how often they will choose that particular brand from all of them – expectations, memories, stories, etc. relationships. associated with it.

Values ​​are at the heart of your brand. They are the cornerstone through which other aspects of branding flow, such as your brand’s look (design), message (voice), and relationships (customer service).

The success of any company primarily depends on its ability to align the values ​​of people with the values ​​of the brand. To do this, you need to have a good understanding of the target audience.

Know your audience

“The more you love and study your customers, the easier it will be to communicate with them at every stage of the customer journey. Without knowing your customer, you are more likely to attract low-hanging fruit by ignoring and in some cases alienating the rest of your target audience, ”says Michael.

“This is why we always strive to create separate messaging segments to communicate with our audience at every stage of the purchase journey. What works for a customer who knows the product will not work for a customer who doesn’t know the product, ”he adds.

Increase your average order value (AOV)

Average Order Value, or AOV, is one of the most important metrics in e-commerce. It measures the average amount spent on each order. It is important to note that this should be calculated based on the number of sales per order, not per customer.

“The key to a successful and profitable business is turning one-time shoppers into repeat customers who shop over and over again. You can do this by adding another up-sell or up-order offer to their list of options or to their order form, which ensures that they end up spending higher amounts with each purchase, ”says Michael.

“Another quick and easy way to increase your average order value is to add a special order boost to entice your customer to spend more (if you don’t already have one) or add extra or low sales. This gives customers the opportunity to renew their order, which in turn results in a higher average cost, ”adds Brittany.

Invest in Lifetime Value (LTV)

Investing more time and money in marketing to your current customers and increasing their Lifetime Value (LTV) can significantly increase your bottom line. The ability to attract customers to your products and brand is the key to a successful and profitable business.

As Michael tells us, there are only 3 ways to increase LTV:

Turn your customers into repeat customers. Increase the average cost of each purchase. Raise your customer retention rate.

Develop a mobile-centric mindset

It’s no secret that mobile devices have surpassed desktop computers as the preferred method of browsing and shopping online. Research has shown that mobile traffic has reached a staggering 52.2%, which means your website and landing pages need be mobile. Google’s Free Mobile Test is a great tool to test if your site is mobile-friendly.

Michael and Brittany shared other ways to measure your site’s mobile usability, including:

Focus on simplifying your design Avoid using Flashplayer Optimize images for mobile devices Increase font size (and use standard fonts as they are easier to read). Make sure your navigation bar is organized and products are easy to find

Want to take a deeper look at these and other ideas and increase your income with paid advertising? Start by checking out the Ads And Funnels success stories on Michael and Brittany’s Instagram pages or at www.adsandfunnels.org!

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