If you’re like most business owners, then you want to improve your eCommerce business profitability this year.
At my business, Eyal Dror Digital Business Consulting, I work with business owners who aren’t sure how to take their online business to the next level.
Luckily, there are some new strategies my clients enjoy learning about. That’s because when they are correctly implemented, these strategies help scale your business and boost your bottom line.
As you’re probably aware, e-commerce is incredibly competitive and requires you to update your business practices frequently.
If you need help staying up-to-date on the newest e-commerce innovations, I can be of service. At Eyal Dror, I provide e-commerce business consulting services and will help your team implement any of the changes discussed below.
Ready to jump into the information that will make this your most profitable year yet? Let’s discuss the 5 ways to boost your e-commerce business profitability in 2018.
1. Determine Where You Want to Take Your Business This Time Next Year
Where is your business now and where do you want it to be in the future?
Everything begins by understanding the answer to these two questions.
Not only does goal setting provide motivation to work toward your revenue growth, but it also directs your future e-commerce marketing objectives.
In addition, when searching for an ecommerce service provider, you should understand the goals you’d like your partners to work towards.
If you’re expecting explosive growth but your business consultant sees only modest changes, then you need a new partner.
Knowing the answers to the questions above will tell you whether you have someone on your team that’s going to provide the results you want this year.
The bottom line is that understanding where you want your business to be is vital. It’s the first step you must take to reach your future profitability goals.
2. Outsource your fulfillment
When it comes to running your own e-commerce business, one of the best things you can do is replace yourself with scalable business systems.
Using a fulfillment service is a huge area of opportunity for ecommerce business owners.
If you’re boxing products, printing shipping labels, and mailing items yourself, that needs to change.
Instead, find a company with the infrastructure to handle these tasks for you.
Chances are they can also handle all your shipping, even as you scale your business this year.
Passing on the responsibility of fulfillment to another company lets you focus on key areas like marketing and sourcing products. Additionally, it gives you time freedom by allowing you to build a business that operates independently from you.
And as a business owner, that’s how you get 10 times, 100 times, or even 1000 times the results from your ecommerce business.
3. Use Analytics to Correct Website Bounce Pages
One key tool you can use to improve your ecommerce site is your analytics dashboard.
Every web page has a certain bounce rate and following this information closely is even more valuable to owners of ecommerce sites.
In fact, by changing your offering, sales copy, shipping, or price on a page with a high bounce rate can change your business drastically.
Everything you do to stop people from fleeing your site on critical pages will impact your profitability.
So, get your prospective customers to complete the sales transaction by understanding why they’d quit in the first place.
A modest improvement in site stickiness can mean hundreds or even thousands of additional sales from your ecommerce business.
4. Integrate Ecommerce Marketing Automation Software
Ecommerce marketing automation software is one of the most important tools to use this year.
If you haven’t already integrated your ecommerce site with marketing automation, then you need to get that started now.
Why, you ask? Because ecommerce marketing automation tools help streamline and automate critical aspects of your online marketing strategy.
For example, what will you do if a customer leaves an item in their shopping cart and exits the page?
In most cases, that would be a lost sale.
You worked as hard as you do, spending time and money to attract the right customers, just to have them quit right at the end of the process.
Now imagine the same scenario, except this time your business uses ecommerce marketing automation tools.
Think about how much impact this automated message would have on your customer:
“Hey! You accidentally left something in your shopping cart. Luckily for you, we’re running a 10% special today only! Just use coupon code ‘10OFF’ at checkout before 9 PM tomorrow.”
Surely, you can see the power this tool has and how much it could boost your profitability.
Plus, there are so many uses of ecommerce marketing automation, as it can also help with different aspects of your marketing strategy.
5. Partner with an Ecommerce Consultant
As an ecommerce business owner, there is always a lot to do and never enough time to get it all done.
And if you run the business by yourself or with a lean team, then the to-do list is seemingly never-ending.
After all, the user experience, marketing, multichannel promotions, and information architecture is your responsibility.
So, if you really want to achieve a high level of profitability, you need to oversee all those tasks and any others that seem to pop up daily.
Additionally, if you experience any ecommerce site problems such as a slow site, low conversion rates, or a high bounce rate, then things can quickly become overwhelming.
The good news is that your business can overcome these issues by locating the right ecommerce consulting business.
For instance, here at Eyal Dror Digital Business Consulting, we have the experience and understanding to solve your business problems.
The right partnership can get you the results you need and ensure future growth too.
Therefore, if you’re having trouble managing products, increasing the number of repeat customers, or improving your conversion rate, then we would be happy to help.
Simply contact us and we’ll talk about where you want to take your ecommerce business and how to get you there.
Ecommerce Marketing Profitability Conclusion
In conclusion, there are many ways for you to boost your ecommerce business profitability.
Begin by taking stock of where you are and where you want to go next.
After you’re aware of the goals for your business, implement the changes that will bring the success you want.
And if you ever need help during the process, then we’re just a click, or a phone call away.
The post The Ecommerce Changes to Make in 2018 appeared first on Eyal Dror Digital Business Consulting and Marketing.