5 Ways to Quickly Increase Ecommerce Profits

Running an ecommerce business has some unique struggles compared to brick and mortar stores. Some of these challenges can get in the way of profits. Here are five of the simplest strategies to turn ecommerce obstacles into business boosters. These tips will all decrease cart abandonment and increase conversions.

#1: Offer Free Shipping

As an online shopper, we’ve all experienced it. You find the perfect product, click add to cart, and head to check out when you’re slapped with the shipping shock. In fact, one study showed that 65% of shoppers abandoned their shopping cart due to shipping costs being too high.

It may seem counterintuitive, but you can increase profits when you decrease shipping fees. The best option is to eliminate shipping fees altogether and offer free shipping.

This will require some effort on your part. You need to figure out the shipping fees for all your products and incorporate that cost into your product prices. It’s also wise to implement free shipping for a minimum order total. So take the time, do the math, and offer free shipping on your ecommerce site.

#2: Allow Guest Checkout

While it’s tempting to require account creation for purchases, it can be a big turn-off for many online shoppers. 23% of users will abandon their shopping cart if they have to create a new user account. Guest checkout is faster, easier, and can make shoppers feel more comfortable not being “tied down” to a membership.

All ecommerce platforms allow guest checkout as an option, so turn that on in addition to allowing customers to create an account. You can even use language for creating an account to make it more enticing, such as “check your delivery status easier by making an account” or “make future orders faster by creating an account”. Just don’t force your customers to do something they don’t want to do.

#3: Simplify Everything

One of the biggest perks of online shopping is that it’s faster and easier than shopping in person. You can order a replacement pair of Nikes in 20 minutes online to be delivered to your doorstep instead of driving to a retailer, searching for the right pair of shoes, purchasing them, and driving home.

So make sure you are eliminating all unnecessary steps from your online shopping experience. Most of the top 100 ecommerce companies have a 5-step checkout process. So remove any junk, cross-selling, or up-selling during checkout, and try to fit all checkout information onto one webpage.

Your goal when simplifying is to focus the customer on completing their purchase. Don’t overwhelm them with too many options, and don’t have multiple calls to action on every page.

#4: Increase Trust

Customers are more cautious when buying online. Handing over credit card information on a website is a lot scarier than with a friendly teller at a local mom and pop shop. So make sure they have every reason to know you are trustworthy.

Include customer reviews and testimonials wherever possible. Don’t hide your customer service pages. Make return, shipping, and delivery info easy to find. If you provide free returns and exchanges, highlight that on each product page! Put contact info in your site header. And add trust badges for any organizations you are a part of or accreditations you have acquired.

#5: Work With Professionals

There are some great ecommerce platforms out there that make it easy for anyone to start their own ecommerce business. But if you really want growth, it’s best to hire some help from the pros. A professional photographer can take shots of your products that boost sales. A web designer can help you optimize the shopping experience or make updates to your design so you can compete visually with the major online retailers. And behind the scenes, you want to work with financial professionals who are experienced with the ins and outs of ecommerce bookkeeping and taxes.

Lin Company is your resource for ecommerce accounting. We can boost your online sales and performance with simple adjustments. We even provide advanced business services with an in-house web designer and ecommerce specialist. Start a live chat and talk to a real accountant today, or contact us for more info.