5 Ways To Increase Online Sales and Profits

It is not a secret that huge online retailers like Amazon have greatly increased their profits during the Covid-19 pandemic. It might only be slightly surprising then, to learn that online sales as a whole jumped 44 percent from 2019 to 2020. Is your business taking advantage of this economic trend? Are you posturing your company so it can have real staying power in the online sales market once it is safer to shop in person? These are questions you should be considering if you are looking to increase your sales and profits online.

If you have been struggling to sell the amount of items or products that you want, or if you just want to start selling online and are looking for some tips, there are definitely some things that you and your company can do to increase online sales and profits. Follow the suggestions and strategies below, and before you know it you will see improvements!

1.Utilize alternative methods of payment such as PayPal and Google Pay.

Even though most customers don’t use these means to pay for products and services, it is still important that your business offers them as options. This is for two main reasons. One is that it signals to the customer that your company is technologically competent. Even if customers are just going to pay by credit card, having these options makes your company look more professional and legitimate. Most major sites include these options and, as a result, yours should too. The other reason is that, again, even if a customer decides not to utilize this payment function, it still gives them the comfort to know that they don’t have to provide their credit card information to you, if they don’t want to.

2. Invest In Cost Effective Targeted Social Media Ads

The other day, I ordered a pack of t-shirts from an online retailer because their ads finally convinced me to. Not only did the ad allow me to learn about their brand, it actually made me order the shirts. Targeted social media ads are not as expensive as you may think. It might be worth it to spend a few dollars, if nothing else, for the purpose of getting your company’s name out there. Again, just like implementing alternative payment methods, having crisp looking advertisements legitimizes your company and signals to the customer that they can trust your brand.

3. Incentivize Shopping Online

If you have a brick and mortar location, and you want to direct traffic towards your website, try to offer deals that are only available online. For example, tell a customer, “If you bought that [insert item here] on our website, you would actually save ten dollars.” Another way to use this method is to offer discounts for future sales online. Regardless of how you implement it, giving customers a reason to use your website will get them in the habit of doing so. As a result, online sales and profits should increase.

4. Create A Newsletter

Similar to the last tip, getting customers to interact with your business online will undoubtedly increase online sales and profits. A newsletter is the perfect way to do so! Create a database of customers’ emails so you can start interacting with them virtually in a meaningful way. Keep them updated with what is going on with your business and show that you value them!

5. If You Need A Quick Start, Use An eCommerce Template

Let’s say you are just starting out with online sales and you don’t have much experience with coding or website creation. Luckily for you, there are templates available that make adding a shop or a sales element to your site very easy! The most popular one is probably Shopify, and is very user friendly.

If you have little experience with website creation, or don’t want to pay someone to do it, you might be pleasantly surprised with how simple some templates are to use. Ask yourself, is it worth it for me to invest a few hours in learning how to use this tool? Will it help grow my customer base and make it easier for me to earn profit? If you are still uncomfortable doing so, you could always list your product or service on major sites such as Amazon. The drawback there, however, is that they often demand a larger percentage of profits.

Growing Your Business Online

Increasing online sales and profits might seem like an intimidating venture. Try to remember, however, that if you utilize the tips above you should see some real growth for your business and brand.

As the world continues to deal with the Coronavirus pandemic, and even afterwards when many retail stores will remain closed, many people will become “full-time” online shoppers. As this reality becomes the “new norm,” it will be important for businesses to have a strong online presence so that they can continue to engage as many customers as possible. Hopefully, this article will help in your quest to start earning more from online sales and profits!