revenue

Revenue Optimization: How to Boost E-Commerce on Your Website

An e-commerce website allows you to take your brick and mortar store and expand it to the rest of the world. Having a user-friendly and responsive site can make a big difference to your bottom line. Like all websites, there are Search Engine Optimization (SEO) techniques to help you reach your goals.

E-commerce sites are growing in popularity. Businesses are selling goods, services, and allowing consumers to book appointments. Revenue optimization for your e-commerce website is crucial. 

For web-based businesses to grow and attract a target audience, business owners need to create a strategy. That strategy will also need to keep up with the changing trends.

Keep reading for tips on how to boost e-commerce on your website to become more competitive.

Have a Website that is Responsive on All Devices

Having a website that is visually pleasing is only one piece of the puzzle. An effective website transfers from laptop to tablet to mobile phones. Visitors need a concise menu and pages that are easy to navigate.

You also want to keep your mobile website close to the desktop version.

When it comes to your e-commerce choose a platform that is responsive and will not have customers abandoning their carts.

Know the Key Components of Revenue Optimization

Revenue Optimization has four key components. These components make-up the strategy to maximize your revenue 

Pricing Strategy

Your pricing strategy depends on the model you choose to use to generate the most revenue. Some businesses choose a price model that sells items at a low price in hopes of increasing volume. While other models go for a high price and focus less on volume.

Inventory Levels

The amount of inventory you can buy at one time plays a role in how competitive you can be with pricing. If you're a small business without a physical location it may be an added expense to carry high levels of inventory. This can have an adverse effect on your revenue.

It is important to follow trends in the merchandise you offer. To increase revenue you'll need to create offers with incentives. An example would be to pair popular items and offer a 50% discount off one when purchased together.

Digital Marketing

Your e-commerce website will use the same marketing techniques as any website. These include incorporating SEO, building social media strategies, purchasing online ads, and promoting your business via a blog. 

Pathways to Optimization

Don't place all your eggs in one basket. There are many pathways to selling your products or services. This goal is to try a few and figure at which ones are most beneficial.

Opportunities include creating a mobile app, using e-commerce plug-ins for your social media channels, Google Adwords, and e-marketing.

Are You Ready to Boost Your E-Commerce Website

An e-commerce website without revenue optimization is only another website. If you're going to offer goods and services online you need to get people to the site.

If you are looking to kickstart sales on your site you contact us to discuss creating a performance plan.