The alterations spurred by the coronavirus pandemic gave a strong impetus to the development of the e-commerce industry. The self-isolation regime has brought millions of buyers into online commerce.
We asked industry experts to share their views on what strategies to pay attention to when launching an online store in 2021.
Ads and Funnels: Meet Online Sales Experts
When Michael Kelly met Brittany Bush in 2019, both being social media advertisers at the time, they knew they were destined to create something special. They joined forces to founded Ads and Funnels, a digital marketing agency specializing in scaling conversion and retention rates for e-commerce brands through state-of-the-art advertising techniques.
Today, Michael and Brittany are experienced copywriters, media buyers, and advertisers. They take pride in providing the best customer experience possible. They are partners and CMO's of Ads and Funnels and RippedAF.com, and their main goals are to ensure that advertising campaigns generate massive results for both company and their clients, as well as making certain KPIs are met.
Here is what they had to advise e-commerce businesses trying to maximize their profits through strategic advertising.
Strike a Surge in Your Average Order Value (AOV)
How much do your customers spend every time they place an order on your website? If you don't know the answer to this question, you need to find out. Your store's average order value (AOV) indicates the average order value for all transactions made in any given time period and is directly correlated with how much revenue and profit you make.
“There are a few ways to increase your AOV. But increasing your main offer price and your upsell offer prices are two of the most effective ways to achieve this. Statistically, if you increase your main offer and upsell prices, it may decrease conversion rates but can lead to more orders with higher average order values”, says Michael.
Transform a Customer into a #1 Fan Through Their Lifetime Value (LTV)
Online stores generate 65% of their profits from customers who already have a satisfactory shopping experience with the brand. These customers are 14 times more likely to shop in the store than new ones. More brands are expected this year to work not only to improve the overall shopping experience but also to build strong customer relationships so that clients want to come back and buy again.
“Your ability to turn a customer into your #1 fan through using cost-effective channels such as email, SMS, and ChatBot will make or break your profit margin. Through email alone, we’ve been able to lower one of our client’s costs per acquisition from $95 down to $25. Which leads me to the next conversion booster for your business”, says Brittany.
Use Heatmaps & Split Tests To Increase Store Conversion Rates
Knowing the interests and expectations of the target audience is the key to success. Use tools like HotJar and Microsoft to study buyer behavior. These and other approaches can be used to increase a range of website metrics, although they are most typically associated with recruiting new customers, registrations, and downloads, among other things. Conversion rate optimization, in other terms, is a means of converting website users into buyers.
Optimize the Customer Experience For Mobile
Towards the end of 2021, almost 73% of all online purchases shall be made on smartphones. Nearly three-quarters of consumers want to stay connected and shop when it's convenient for them. If you want to attract customers, now is the right time to optimize your online store for smartphones.
Methods to determine the mobile-friendliness of your site, Michael and Brittany told us, include:
- Focus on simplifying your design;
- Shy away from using Flashplayer;
- Optimize images for mobile;
- Increase font size (and use standards fonts as they are easier to read);
- Make sure your navigation bar is organized and products easy to find.
These e-commerce trends and strategies provide a clear understanding of what to expect in the market this year and what business owners can do to adapt and get the most out of the situation. To find out how competent firms like Ads and Funnels can be an asset to your e-commerce business, start by checking out their success stories! You can also learn more tips to grow your business by following Michael Kelly and Brittany Bush on Facebook!