Looking for a viable online income that can help you take your side hustle to a full-time business? Having your own
There are two approaches to this:
1. Sell more products to more people by reaching out to more
2. Get more revenue from your current customer base.
In this guide, I’ve put together 10 eye-openers to help you boost your marketing strategy and up your revenue.
1. Product bundling
Promote two or more products that can be purchased together as a single item, literally, it means selling two complementary products as one (often times for a discounted price). The unique selling point here is the perceived discounts on the price of the products.
Boost average order value to increase profit margins without necessarily having to hustle for more sales.
How do you uncover products to bundle together? Your marketing report is the cheatsheet. Your analytics will tell you the products that your customers mostly prefer to order together as one item on your eCommerce store. As soon as you find an ideal pair, you can then offer it as a bundled product for a slightly discounted price. No doubt, it’s a win-win for you and your customers.
The most important thing is to make sure that you have a seamless integration across your eCommerce platforms and other places you sell so that you don’t have complicated issues such as selling out one of the pairs before the order and customers having to order a bundle product that’s not readily available on the shelve.
2. Negotiate discounts with suppliers
Another smart way to increase profitability without necessarily jostling for more sales is to reduce your cost of goods sold, the idea around this is to have your wholesale supplier give you more discounts.
Most times it may mean that you need to fit into their many pricing structures to achieve this, but you can most of the time negotiate your way around it, but be mindful of the numbers and make sure that your budget is not overstretched in any way.
3. Refine your Product SEO
Product SEO is a process that combines the technical and creative aspects of SEO. It requires a lot of work from the product owner, as well as from the marketing and content teams.
Optimizing your product’s SEO is about ensuring that your product gets found for what it does well, and not for other things it does not do well. It also helps to get your product seen by people who are looking for what you have to offer.
SEO for eCommerce is more than just keyword research. It’s about ensuring that the product you create for sale is optimized for all the customer-facing aspects of your website (meta title, meta description, product images, etc.)
You have an amazing product on sale that sells well and generates good revenue but your website isn’t converting. it might just be time to do more product optimization.
- create a short and concise product title that clearly describes your product
- Use bullet points to highlight product features, key facts, warranties, and other things that potential buyer needs to know about the product
- Use very user-friendly product images that clearly exemplify all the aspects/angles of the product and make sure that images are not over-sized so page speed is not affected
- Avoid stuffing too many keywords into the title and the description area; Google and other search engines frown at it.
4. Work on getting your pricing right
How do you get your pricing right? No matter how much good research you do or how logically you plan things out, it’s difficult to find the perfect price for your products.
Price is one of the most important aspects of a product. You want to offer something that’s worth buying at a fair price, but if your price is too high, people won’t buy it. If your price is too low, they won’t feel like they’re getting their money’s worth. As a business owner, there’s no way around this battle—you have to make sure your prices are right.
The key is to make sure that your products are competitively priced to a point you’re still able to achieve a healthy margin for your business.
5. Leverage Social Media
Most times, brands often direct their digital marketing efforts on their eCommerce websites and online shop only and overlook social media entirely.
Using Facebook advertising, Google ads, PR efforts, and other paid channels to promote your own website is obviously beneficial, Your current social media presence is one of the simplest, cheapest, and most successful areas to begin attracting potential customers.
The following pointers should be kept in mind while developing social media campaigns to promote your Amazon items.
The most efficient social media marketing platforms are those you’ll really use, such as Instagram or TikTok if you’re unsure of which one to go with. To get the most out of your social media efforts, focus on the social media platforms where you have the most followers and are very active.
You’ll need to design social media advertising and posts that compel people to take action in order to get them to your online store. A reliable strategy for boosting social media traffic to your online store is to create product videos, carousel advertisements, discount coupons, and freebies. For this, you can use design tools such as In video, MyposterWall, Canva, and other infographic tools out there.
6. Consider getting Affiliates and Social Media Influencers
Get in touch with affiliates and influencers If you don’t already have a sizable following. You can ride on the wide reach of bloggers, vloggers, and other social media influencers to promote your brand for a commission.
7. Get more product reviews
It goes without saying that customer reviews are critical to the success of any online shopping store. How many times have you purchased something online and your judgments were mostly certainly influenced by going with the product that has the best ratings? One smart way to get more reviews is to follow up on customers via email, you can ask if they’ve received their order and request that they leave a product review.
Get a Conversion-Ready eCommerce Website
Need an SEO-friendly and Conversion-ready eCommerce website for your business? Web Design Nigeria in Lagos is a full-service web design company that designs and develops websites for small businesses and other online startups. We design, develop, host, and maintain websites and services to your specifications. We offer a cost-effective solution that is tailored to your business needs.