Improving e-commerce ROI is a challenge, even for the best marketers. In fact, according to Smart Insights, e-commerce businesses have a fairly low average conversion rate at only 2-3%. However, star performers—the top 10%—can achieve conversion rates as high as 6.25%.
To get closer to that 6.25%, you’ll need to do more than the bare minimum. So unless you’re comfortable with only two or three out of every 100 website visitors making a purchase, it’s up to you to come up with a few out-of-the-box marketing ideas to create a remarkable shopping experience for your customers.
From improving your marketing techniques to increasing revenue from existing orders, here are our favorite tips for improving e-commerce ROI and winning some of those 97 missed opportunities back.
Sell package insert ad space
Package insert advertising can help you to create an exciting shopping experience for your customers. By offering up ad space inside your outgoing packages to complementary brands, you can give your customers little extra nudges—e.g. coupons, special offers, valuable content, or even free samples—that might spark an ongoing relationship at little to no cost to your business. In fact, since you’re selling space that would typically go unused, you’ll actually make money!
To get the most out of this strategy, you should be intentional about the way you pair messages with orders. Choose advertising partners whose ads complement your customers’ buying history and preferences. This way, not only will your customers get to learn more about a product or service they might like, but your advertising partners will be more likely to close sales and work with you again in the future.
Convince your customers to come back with email nurturing
People who abandon their carts or don’t finish transactions on your website might fall into one of several categories. Perhaps they don’t trust you enough, don’t need the product right away, or simply haven’t arrived at that point in the buyer’s journey yet.
You need to help bring them from where they are now to the point of conversion, and email marketing is the perfect tool to make it happen.
Through email nurturing, you can show your prospects the right product details to help them make educated buying decisions about the items left in their cart. Having easy access to key product information makes it simple for them to go back and buy the products they were considering without a second thought.
Re-marketing with the right content boosts e-commerce ROI because it allows you to re-engage potential customers that were already close to converting. Bringing back existing leads is far more cost-effective than bringing in new ones.
Use social proof to build trust
When you have positive reviews on your website, you become more reliable in the eyes of new visitors. Online reviews influence as much as 67 percent of consumers, and most internet users trust the information they find online just as much as a personal recommendation. By showing that there is a community that trusts you enough to buy from you and speak well about your products, you can increase ROI, conversions, and ultimately revenue.
The best e-commerce websites focus on getting social proof from their users to gain more trust. Think of Amazon and how it encourages customers to submit post-purchase reviews. Their online store has a system that allows buyers to rate products, submit product questions and answers, and even illustrate their reviews with relevant photos and videos. You’d be smart to put a similar system in place.
Advertise products with video
You can increase the return on your marketing efforts by using video content to promote your products. Video is one of the most effective methods for capturing the attention of your website visitors and guiding them through a fulfilling shopping experience. With less than a minute of video, you can change the buying intentions of your visitors by helping them choose the right products to meet their needs.
For video to work in your favor, you need to make the content more about your potential users and less about your products. Use storytelling to show people how they can benefit from buying from you. If you want to connect with your audience, you need to engage them by authentically providing valuable information. Video is the perfect way to offer solutions to common problems without totally turning your content into a sales pitch.
Put your customers first to improve e-commerce ROI
The best e-commerce marketing techniques are innovative and focus on the buyer rather than the products. When you sell package insert ad space, for example, it does more for you than just offset your shipping costs. It gives your customers a value-added surprise they didn’t know they would be getting, makes unboxing more fun, and positions your brand as the hero—one who shares exciting brands, products, and deals at no extra cost to them.