Walmart CEO Joel Anderson says something that pretty much sums the content of this blog.
“You can’t just open a website and expect people to flood in. If you really want to succeed you have to create traffic.”
When we look into the Ecommerce growth in India, one thing is certain, it has skyrocketed over the last couple of years amongst the urban population. But, we still are far behind in the race. A recent report suggests only around 14% of India’s internet users shop online when compared to 64% in China. However, this, is likely to change as people are becoming more comfortable with making transactions on the web and off mobile phones.
Future projections look promising as online sales in India is expected to hit $120 billion by 2020.
With these stats in mind, let’s check out the framework that drives Ecommerce sales.
- Eliminating abandoned carts
Did you know that out of the every 100 customers who visit your website, as many as 60 to 70 of them abandon their shopping carts? This is one of the most important pain points ecommerce businesses are facing that are leading to massive losses.
So, what’s the reason for abandoned carts? Price and additional unexpected costs that are levied at checkout. If they can find the same product for a cheaper price elsewhere, why will they buy from you?
There are several ways to curtail cart abandonment rate, but one of the most straightforward is – Follow-up emails.
- Remind customers of what they’ve left behind in their carts.
- Grab their attention with great headlines, attention-grabbing copy and photos to draw them back in.
- Send them a discount code. Get them to commit to the order.
- Use social media to your benefit
When it comes to using social media for e-comm sales, Facebook is at the top of the chart. Some other really well performing sites are Pinterest, Twitter, and YouTube that also run e-comm ads. You have to experiment in a plethora of these websites in order to gauge what did well for you.
Social media sites are driving sales more than ever and not jumping on board could mean missing out on a significant opportunity.
- Unleash your creative side
Stop with the standard descriptions pulled from a database and create concise, SEO-optimized copy for your products. Make use of attractive product photography to build trust and improve the visuals of your site.
What else can you do?
- Experiment with Instagram.
- Implement a store on Facebook. You can use the Facebook Store app to sell your wares.
- Generate more customer reviews. Never forget how valuable social proof is.
- Upsell and cross-sell products.
How do we define Upsell and cross-sell?
- An upsellis making the customer buy a more expensive model of the same type of product. This results in the customer spending more out of his pocket.
- A cross-sellis when you make a customer spend more by adding products from other categories other than the products he/she has viewed or purchased.
Did you know that e-commerce giant Amazon makes 35% of its total revenue by upselling and cross-selling?
We need to understand, there are a number of reasons why a potential customer might not complete a purchase, which is why it’s important for businesses to communicate with shoppers in a way that is proactive but not pushy, in order to help them convert from browsers to buyers.