Business

How to Improve Profits in Your Shopify Store

The success of a business is usually measured by how much profit it is making. Given how competitive the ecommerce industry is, running a successful Shopify store and making enough profits is not always that simple, even if you offer quality products or services.

As an online store owner, what you want is to create an effective marketing campaign to attract potential leads and convert them. Let’s take a look at how you can increase online sales.

Publish Customer Reviews

Customer reviews are the first idea on the list. According to Oberlo and other sources, roughly 9 out of 10 customers consider prior shopper feedback as valuable as a personal recommendation from a friend when shopping online. 

As such, you should effectively populate your Shopify store with reviews so that potential leads have an easier time deciding whether they will spend their money or not. 

Of course, it is important to note that you should not limit the store to just text reviews. If possible, encourage video reviews where customers film themselves using a product and talking about it. 

Use FOMO

The fear of missing out creates scarcity and tricks shoppers into making hasty decisions. Compulsive shopping is a common thing, and people are more inclined to spend their money when they do not want to miss out on a great deal.

To implement FOMO in your store, create pop-ups telling shoppers that there are only a few items left in the stock while they are browsing product pages. Running a limited discount and enabling a clock on a product page that counts down the time until the offer expires should work as well.

Simplify the Checkout

Avoid a complicated checkout because it will put off customers from completing the transaction and lead to even more abandoned shopping carts.

For one, your shop could offer purchases without needing to register an account. Some stores implement this policy of asking new customers to register an account, wait for a confirmation email, activate their account, agree to the store’s policies, and so on. 

Not everyone has the time and patience for these things. People who shop online do it because the method is convenient, and encountering a complicated checkout is one of the obstacles they will not bother to overcome. Instead, they will do their shopping elsewhere.

Offer Multiple Payment Options

Another thing to note about checkout is that offering a flexible payment gateway is another effective method to boost sales. While most shoppers will use a credit card or direct bank transfer, it is important to remember services like PayPal, Stripe, Skrill, and Payoneer.

Cryptocurrency is worth a shout as well, though it is understandable why some online store owners are reluctant to consider cryptos as a legit payment method. 

Improve Product Image Quality

Given how important visuals are, you want to ensure that your product pages have the best possible image quality

Blurry, pixelated, low-contrast, and resolution images do not cut it because they have the opposite effect of what an online store wants to achieve. And even if you eliminate these problems, the overall image quality might still not be good enough because they were taken with amateur equipment.

Paying a professional photographer to make hundreds or even thousands of product photos can be quite expensive, but it is necessary if a store wants to increase its sales. 

Accommodate Mobile Shoppers

Failing to accommodate mobile shoppers could mean missing out on new customers. Roughly 50 percent of all online traffic comes from smartphones and tablets, and shopping online on mobile devices is quite convenient.

Now, whether you want to go for a native iOS and Android app comes down to available resources. It would be a great addition to your marketing efforts because shopping on an app is better than shopping on a browser while using a mobile device. However, limiting yourself to just a mobile-friendly website should not be too bad either.

The bottom line is that you need to offer a platform to shoppers who use a smartphone or tablet so that you do not lose potential profit.

Leverage Contests and Giveaways

Organizing contests and giving away freebies is an effective strategy not just to boost sales but also to raise brand awareness.

For example, an online store could run a giveaway on social media and offer discount codes or free shipping for the next few products. This type of SM content can snowball and go viral thanks to multiple people sharing the post. 

Implement New Technology

The last bit of advice is about following the recent trends and implementing new features on your website to make the shopping experience better. 

Customers who find themselves on your website should appreciate chatbots that can respond to their questions immediately.

Voice shopping is another example. If you can optimize a store for voice shopping, you can expect to make even more sales.