12 Online Retail Tips to Boost Your Bottom Line

At TVCMALL, we want to help you make your online store THRIVE. We know that you can have great products, a working e-commerce site, and a solid marketing plan and STILL struggle to boost your bottom line. That’s why you’ll find great e-commerce advice on our blog. In this article, our marketing experts share our best online retail tips to boost your bottom line.

 

Online Retail is a Hot Business Opportunity

Online retail sales are growing worldwide. Statista reports that e-commerce accounted for 20% of retail sales globally. Forbes says that number will grow to 24% by 2026. Overall, online retail sales total over $6 trillion USD.

And don’t make the mistake of thinking Amazon is eating up all those sales. While Amazon is the largest online retailer, it still only accounts for less than 40% of online retail sales. So, there’s plenty of room for online retailers like you to grow your e-commerce business.

There may be a lot of opportunities in online retail sales, but achieving conversions requires some business acumen. Here’s our best advice for increasing online retail sales.

 

Be Trustworthy

Let’s face it. Anyone can throw up a website and say they’re selling something. Scams are commonplace, and consumers know it.

Gallup reports that 15% of respondents say that they or a household member lost money to a financial scammer. In fact, falling prey to a scammer is a top anxiety, with 57% of Americans saying they worry about being tricked.

So, when consumers encounter your brand, they need to know without question that you’re on the up and up.

1. Create an About Page on your website. Include information about you personally, and share your personal journey that led you to open your e-commerce store.

2. Invest in security measures to protect your customers’ information. Make sure your website is encrypted and preceded with “https.”

3. Make sure your warranty and contact information are easily found on your website. Consumers will look for this information before they make their first purchase.

 

Be Authentic

Consumers want to interact with real people, so make sure that they know real people are behind your business.

4. Always respond to inquiries and comments. Keep up on every social media channel on which you have a presence. And check your inbox and messaging apps frequently.

5. Insert personality into your social media posts. Be humorous or inspirational. Be different or quirky. Showcasing your personality in your marketing efforts will help you differentiate yourself from your competitors.

6. Respond to reviews, even the negative ones. Thank those who leave you positive reviews. And turn negative reviews into a positive brand image by responding politely. If appropriate, apologize and offer to fix the issue. Every once in a while, a persnickety consumer may give you an undeserved negative review. If that happens, don’t argue. Instead, politely explain yourself and offer to take the conversation offline.

 

Under-Promise and Over-Deliver

THRIVE in your e-commerce business the old-fashioned way: with stellar customer service.

7. Make sure customers always have a path to reach a live person. Whether it's through messaging or a phone number, give your customers the opportunity to reach out.

8. Always make it right. Sometimes, the sale doesn’t go as planned. When that happens, always do what it takes to make the customer happy, even if that means losing money on the sale.

9. Send shipments out on time. Don’t make your customers wait for their amazing new products. If shipping products is a logistical nightmare for you, then consider dropshipping.

 

Improve Your Website

Your website is the cornerstone of your customers’ shopping experience. Follow these tips to make using your website a pleasurable experience.

10. Improve your website’s loading speed. Customers won’t wait around for your website to load. Consider hiring a professional website designer to work out the kinks that are preventing your website from loading quickly.

11. Include lots of high-quality product photos. Plenty of photos reassure customers and help them feel like they’ve thoroughly vetted your products before they buy.

12. Write persuasive product descriptions. People buy benefits, not features. For example, instead of simply saying that a power cord is fast-charging, tell them they’ll always leave the house with a full charge thanks to the power cord's fast-charging capabilities.

 

Make Your Online Store Successful with TVCMALL

E-commerce is chock full of opportunities. But like any business, you need resources to succeed. At TVCMALL, we provide more than quality products. We’ve made it our mission to help entrepreneurs achieve their dreams of building a successful online retail business. Our commitment to helping you THRIVE is one reason why we’ve earned 4.5 stars on Trustpilot. Contact us today to learn more.