3 Key Advantages Ecommerce Offers

Were you that kid who set up a ice-cream stand in your neighborhood, dreaming of making enough so that you could buy that GI Joe/Barbi doll that was all the rage? Have you grown into an adult who goals of making enough to not have to fret too much about offering for your family or perhaps purchasing cool grown-up devices?

The Internet and Ecommerce have made global entrepreneurship possible, and along with it your dreams of financial security and more. I read somewhere that if you want to market something, you cannot miss NOT to go online. You have to go worlwide. Why?

Market Size

There are various advantages e commerce offers a merchant that a conventional business cannot (not without having to spending a ton of money, at least). For one, the online market is gigantic. 17% of the world’s population or over 1 billion people are online today. In 2006, shoppers spent a $102.1 billion online. Be sure that your web store takes advantage of this wide market by selecting and making use of a top-notch online ecommerce shopping cart solution.

Complement Your current Store

“90% of those surveyed say they have a better overall shopping experience when they research products online before shopping in-store.” – Harris Interactive

If you already manage a conventional brick-and-mortar store, an online store may actually elevate the profit of your offline store. We live in an age where data is competency. Consumers like to know a thing or two about the products they’ll be buying before they make purchases. Psychologists have suggested that several people research before they purchase for several reasons. Some like to be warranted that they are getting the best offers. Others like to know that they are doing the perfect thing by obtaining something that they need. From a marketing point of view, as long as you custom designed your information to target these various groups, you can pretty much assured to have sales.

DIY – Not A Hindrance

To take full advantages e commerce opportunities that the Internet provides, you need to make sure that you pick the best ecommerce solution. If you’ve made the suitable choice, you can run multiple online stores with relative ease. This is one of the key advantages e commerce solutions provide. You don’t have to worry too much about HR matters, storage space and boring department meetings. All you need to do as a merchant is make sure you market your store well, see to it that your site is “sticky” and ready to win over customers, and finally make sure that you have time to approve payments (if you do not subscribe to a payment gateway/processor) and reply customer email. That leaves plenty of time for golf, family and that vacation you’ve been wishing to go on.

Ecommerce Business – A Blessing For Firms Looking to Reach New Customers and Grow Sales

Ecommerce businesses are getting the true value of their investments by selling products through websites and minimizing the costs of administrative overheads and infrastructure. Businesses can focus on their core competency and outsource other operations to ecommerce providers.

The year 2009, in spite of the shaky economy, saw more than $50 billion spent on ecommerce websites. And this astonishing figure is still growing at a rapid pace. The success of ecommerce as a business model can be attributed to its no fuss selling interface. Increasing number of businesses are launching ecommerce websites as these internet outlets are an ideal point of sale requiring no administrative staff, real estate or sales personnel. Web hosting services take away the it overhead by offering services for data storage and management. Ecommerce providers handle transactions and payments. This is a dream come true for businesses that want to sell on the internet.

Ecommerce websites work perfectly in volatile markets

most businesses have suffered the consequences of the economic crisis and are running low on funds and resources. It is to the business’ advantage to save on infrastructure and administrative costs. The internet has made the market global and competition is fierce. Businesses are compelled to tighten profit margins to stay in the market.

Ecommerce websites offer the perfect solution for businesses to maximize sales and reduce costs. The internet hosted marketplace is changeable and businesses can alter the offers, product combinations, and advertising strategies on the website in minimum time. Hosted ecommerce solutions help internet businesses take advantage of evolving technology and changing internet usage practices.

Hosted ecommerce solutions offer holistic ecommerce services

the design of the ecommerce website is critical as it is the portal through which customers can access business products and services. Ecommerce solution providers work with businesses to create an effective website design. Apart from providing advertising services and designing the structure of the web outlet, ecommerce hosting providers:

* take over it and administrative operations
* deal with warehousing and inventory management
* work on marketing strategies
* optimize the ecommerce website design

ecommerce hosting services allow businesses to focus their time, effort and money on the improvement of their goods and services.

Maturing of ecommerce business

ecommerce businesses have shown remarkable strength in the global economic slowdown. Ecommerce websites have supported businesses by ensuring a revenue stream at a time when funds are low and costs are high. Web outlets help save further by taking away it and administrative overheads.

Customers turn to ecommerce websites looking for competitive rates. Ecommerce outlets fall cheap as they offer more compelling bargains than their retail counterparts do. Customers also save the cost of driving to retail stores.

The upward swing in ecommerce shopping during the 2009 slowdown is an indication of the success of ecommerce solutions and their arrival in the market. At a time when many businesses are bearing the brunt of the economic crunch, ecommerce businesses are growing at around 15%, a figure that promises to keep going up. Ecommerce businesses are here to stay.

eCommerce Website Promotion And Sale Ideas

No matter how successful your eCommerce website is, you should always be brainstorming for ways to improve it. Developing innovative eCommerce promotion ideas can be tough, but will ultimately pay off in dividends when implemented correctly on your eCommerce store. Offering promotions and special offers to your potential eCommerce customers is an effective method of driving ancillary traffic to your site, acquiring new customers, and growing revenue. Best of all, these promotions can also be used to encourage new visitors to become loyal, repeat customers. Many shopping cart platforms offer these eCommerce features, so take advantage of them!

Why Are Utilizing eCommerce Promotions and Special Offers Important?

The fact is, today’s online consumers are more savvy than ever. Combine that with the fact that there are more online buying options than ever before, and it’s no surprise that it can often take additional persuading to get your visitors to click that checkout button. In that context, consider your eCommerce promotions to be one of the most valuable persuasion tools available to you.

Boosting eCommerce Sales With eCommerce Promotions and Special Offers

Now that we understand the role special offers and promotions play in an eCommerce website, we’d like to share some powerfully simple promotions that we have seen work wonders for our clients. Of course, no two sites are identical, and what works in one industry may not work in another. Before implementing any of these ideas, make sure you are poised to collect any data needed to determine their effectiveness. That way, you will have tangible evidence behind your decisions and you can make permanent changes to your eCommerce store with confidence.

#1 – Free Shipping

It’s no secret that everybody loves free shipping. Additional shipping charges during the checkout process contribute to cart abandonment, also known as the achilles heel of the eCommerce website. Apart from eliminating an expense many of your visitors may be expecting, free shipping can simplify the entire sales process.

Whether you offer free shipping sitewide or limit your promotion to specific categories and products, your customers can browse confidently knowing that the prices listed are what they’ll actually pay (plus a little for Uncle Sam, when applicable). Plus, they won’t be caught off guard with additional charges when they’re ready to checkout. From a psychological perspective, you’ll be at an advantage if your visitors are confident that the price they see is an accurate representation of their final cost.

One thing worth mentioning is that your company doesn’t necessarily have to eat the shipping costs, you can simply “hide” your shipping charges by embedding them directly into the price of the product.

#2 – Percentage Based Discounts

If brick and mortar storefronts have taught us anything, it’s that everyone loves to buy things that are “on sale”, and formatting your product pages to have a “sale price” can definitely increase conversions. Consider showing two prices for any given product, the “retail” price and your “sale price”. Experiment with different terminology such as “Suggested Retail” or “MSRP” to see what works best for your store or niche.

Even though percentage based discounts have become increasingly ubiquitous on eCommerce websites, they are still quite effective. Somehow, the human brain is still more enticed to purchase a product if an artificially inflated original price has been “slashed” down to a lower amount. Experiment with different percentages depending on your profit margins to find the percentage that is most effective for you. Any reputable eCommerce shopping cart should be able to make these adjustments dynamically, either site-wide or specific to a certain category or product. Remember to keep your profit margins in mind when creating these discounts, as increases in revenue are of the most value when you are making substantial profit on each sale.

#3 – Buy Something, Get Something Else For Free

Again, everybody loves free stuff. You can setup free product giveaways if a certain product is purchased or if sales of a specific product are dwindling.

If you’d like to increase your average order value, try adding a free product if a certain dollar amount is spent. You’ll be giving your customer the impression that they’re receiving a better value, while psychologically priming them to have a positive outlook on your company after the transaction. At the same time, it will create an incentive for them to spend more money each time they frequent your site.

#4 – Quantity Discounts

Another great way to improve sales and average order value is to offer discounts based on the quantity purchased of a specific product. These discounts can be structured any number of ways, including a flat rate, a fixed percentage, or a sliding scale.

This can be especially advantageous to eCommerce websites that are looking to sell both to the average consumer as well as distributors and merchants that need to buy in bulk. You can setup your quantity discount structure such that those looking to purchase in bulk do not have to contact you directly to negotiate a price. The more automation your website has in this regard, the more labor hours your company can allot to innovation and growth.

#5 – Offering Reward Points

Offering your customers rewards point for each dollar spent is a great way to encourage visitors to become loyal, repeat customers. These reward points can be expressed in “points” or “dollar-value”, depending on what you think makes more sense for your target market. Many believe that website visitors are more enticed to spend “50 Example.com Dollars” vs “50 Example.com Reward Points”, so keep that psychology in mind when determining how to name your points system.

Getting creative with the naming of your rewards points system also presents an opportunity to strengthen your brand. For example, “Airplane Ticket Reward Points System” doesn’t have quite the same ring to it as “Frequent Flyer Miles”.

When To Use Special Offers:

While most eCommerce websites are practically always running some sort of special offer, there are certain times when special offers should especially be considered.

  1. Weekly / Monthly / Quarterly
  2. Pre-launch (of a website, of a new product, or anything else applicable)
  3. Holiday / Seasonal Promotions (Black Friday and Christmas are obvious, but also any holidays or seasons that align with your brand… e.g if you sell weight loss products, create a promotion centered around New Year’s resolutions.
  4. Abandoned Cart – Target abandoned carters via email with special offers to seal the deal.
  5. Email / Newsletter Subscription Offers – Include special offers and promotions exclusive to those on your email list. Advertise this on the site to encourage newsletter and email list signups!
  6. Social Media Engagement Incentivisation (e.g. Like us on Facebook for a 10% coupon)
  7. First Time Visitors – Create special offers for those making their first visit to your site.
  8. Customer Loyalty – reward repeat customers with special offers
  9. When it looks like a user intends to exit the page, you can create a special pop-up offer to entice them to stay on the site and make a purchase.

We recommend working directly with your eCommerce SEO company to help implement these strategies on your eCommerce website. Combining SEO expertise with an intimate understanding of your business is the best way to fill in the gaps from the ideas above. Furthermore, your eCommerce SEO agency will be able to align their SEO efforts with your eCommerce promotions so that your strategies can work together in harmony.