5 Business Strategies Every Ecommerce Business Must Leverage to Increase Sales

With new e-commerce brands coming onto the digital landscape, businesses need solid strategies and tools to gain a competitive edge.

E-commerce businesses often use advanced technology such as customer relationship management (CRM) systems and analytics software to attract and retain customers and streamline their processes. For example, in B2B e-commerce, enterprises typically use tools like quote to cash software to automate the process of turning quotes and estimates into actual billable transactions while keeping customers engaged throughout the purchase journey.

For B2C e-commerce, a whole range of technologies are making waves in the e-commerce sector. They primarily leverage tools like Stripe, PayPal, etc. for payment processing, but in B2C e-commerce the main focus is on creating a seamless and enjoyable shopping experience for customers and increasing sales through increased visibility. Is.

Despite deploying these tools, businesses need assistance to receive the expected number of orders. That’s when e-commerce merchandising can help. An effective business strategy enables customers to find the products they want.

In this blog, we will explore some business strategies that e-commerce businesses can use.

#1: Create a Responsive Website

Responsive websites help customers easily access and use the website on any device, including mobile phones and tablets. This increases the likelihood of customers making a purchase as they can easily view and navigate an e-commerce store.

Mobile devices have become more important in recent years –

  • Recent research shows that mobile devices account for 60.66% of all website visits.
  • Over the past six months, at least 79% of smartphone owners have made online purchases using their mobile devices.

Prioritizing a responsive website for your e-commerce store can create mobile-friendly landing pages that increase conversions.

Source: Checking website responsiveness on all possible devices

For starters, use any responsive web design testing tool to determine if your online store’s website is optimized.

#2. Create an attractive homepage

A successful e-commerce merchandising strategy starts with a compelling homepage that reflects your brand, showcases your best products, and makes browsing easy.

There are two methods you can adopt to create an attractive homepage.

product personalization

Use personalization to display products based on customers’ past purchases or recently reviewed products. For example, Amazon uses personalization on the homepage based on a user’s onsite search and browsing behavior.

Source: Amazon homepage full of personalization navigation.

Amazon drives sales and gets you to spend more by recommending things users have previously viewed (or forgotten about).

Create a Compelling Story

Start by employing the basic principles of storytelling to structure content that displays a narrative on your site. Start by highlighting the most compelling details – both verbally and graphically.

Use it to establish your brand identity, convey the nature of your products, and gradually move into more specific categories, deals or product-specific discounts.

#3: Organize Related Products

Group all related products under different criteria and sell them as a bundle. This business technique, called product bundling, can help increase sales.

Here are some key techniques:

Bundle Related Products: A package includes several related or complementary products from the same brand or category by bundling them together.

Source: Example of Product Bundling

Provide your customers with money-saving options as they purchase multiple products at once and add a sense of value to the purchase.

Clubbing Special Deals: Dynamic pricing with CPQ integration can be implemented by B2B eCommerce businesses to better manage product offerings, pricing structures, and sales processes. Sales teams create pricing models to pair special deals by considering customer history, market conditions, and competitor pricing. And then intelligently club the products that add the most value to the buyer. This enables B2B sales teams to offer special deals that are competitive and profitable while meeting customer needs.

Source: Bundled Deals That Boost Savings

It helps in increasing sales by providing value for money to customers willing to purchase at discounted rates.

cross selling: Cross-selling strategies are useful in introducing customers to additional products that may be of interest to them.

Source: Cross-Selling

For example, suggest accessories like a laptop case or extra memory cards to customers purchasing a laptop.

Costly: Upselling offers an improved version of a product the customer is already interested in purchasing.

Source: Upselling through comparison

For example, if a customer is looking at an entry-level product, suggesting (through comparison or recommendation) a more expensive model with more features and benefits.

#4. Add attractive visual elements

Visual media is the key to successful e-commerce as it captures users’ attention, ensures engagement, and draws them in for more.

Consider the following to increase visual appeal-

Adding Dynamic Images: Dynamic images are those that move like a carousel of products or images that zoom in on a product. This helps draw customers’ attention to the items they’re looking for, making the browsing experience more seamless.

High Quality Images: Invest in attractive visual elements that include product shots. This gives customers clear information about the products they are looking at.

Try the video: 73% of customers are more likely to make a purchase after watching a video. Take advantage of videos that demonstrate product use, including customer product reviews or tutorials on using certain products.

#5. Provide personalized recommendations

Personalized recommendations involve collecting customer data and using predictive analytics that helps better target customers.

Here are some ways to provide personalized recommendations on an e-commerce website.

collaborative filtering: It provides customers with recommended items based on the preferences of other customers with similar interests.

Content-Based Filtering: A filtering method that provides recommendations to customers based on the content of their profile. This is done by analyzing user data such as gender, location etc. to identify their interests, likes and dislikes.

Hybrid Filtering: In this method of e-commerce personalization, items are recommended to customers based on a combination of collaborative and content-based filtering to create a more personalized experience.

Rating-Based Recommendations: Customers talking about their positive or negative experiences with a product can greatly influence the decisions of other (potential) customers. Therefore, word-of-mouth is a powerful marketing tool that helps win over new customers by showing the credibility of your business and the quality of your products.

wrapping up

The above business strategies are essential for e-commerce businesses looking to increase sales. Create an all-round strategy by adopting product selection, pricing, promotions and customer engagement. Such an approach can increase conversions and increase overall profitability.