Want more traffic and more sales for your online store? Of course, you do. Consider these ideas to help save money on eCommerce operations for your site:
1. Offer the best payment options
As your order volume increase, add convenient payment option. While you should offer multiple payment options to your customers, look to see which methods are most popular with your customers.
Don’t use those payment methods which are rarely used, removing that option can save your monthly processing fees. Most online shoppers have more than one credit or debit card, so the customer experience shouldn’t be drastically affected.
2. Offer coupons and discounts
Coupons are a standard expectation for online shoppers. Before starting coupon campaign, decide what you want to achieve with your coupon campaign. From there, decide how deep the discount will be and which products it applies to, all while closely tracking how the discount will affect your profit margins. In other words, don’t randomly create a discount – you can quickly lose more money than expected if the coupon becomes popular.
3. Make adequate investments the first time
When you are starting an eCommerce business, you need an eCommerce website. So, Investments in web design, marketing or development can be added up. This explains why many business owners look for more affordable alternatives, such as hiring a web designer or an overseas SEO firm. While these options seem cost-efficient in the short term, you may soon realize that you indeed get what you pay for.
Don’t try the cheap way to improve your business in the starting, perform industrious research and look for trusted vendors to make your investments count. Getting things right the first time is much more affordable than having to start all over again.
4. Work with a small business shipping specialist
Shipping charges are typically a big strain on financial resources for online businesses. While paying for shipping is unavoidable, many eCommerce merchants are paying more than necessary because they’re afraid to talk to someone.
Shipping resources for small businesses are provided by all major eCommerce dealer, many of which have dedicated specialists to help you gain efficiency in your shipping costs. Utilize these tools to help save money where it counts.
5. Identify and enhance effective marketing channels
It often takes a lot of money to market your business online. Despite using PPC, SEO, email, social media (or all of them) to promote your eCommerce site, one of the best ways to save money is using Google web analytics. Google Web analytics is used to identify which marketing channels are the most impactful.
To do so, use your Google web analytics tool to see where traffic is coming from and what visitors do once they get to your site.
6. Concentrate on customer retention
Work as hard to keep a customer as you do to find a new one. Customer retention should at least receive equal effort and investment compared to customer acquisition, which means you should concentrate on customer retention through quality customer service and customer communications.
This includes delivering the products on your promises and keeping customers interested in your business by sending emails and engaging them through social media, solving their queries on time, respond to their phone calls. As you build customer loyalty, these customers will begin sharing your services with their networks, which is the most affordable and effective way to drive new business to your store.