If you are running an online business and looking for ways to increase E-Commerce sales in 2020, then it’s really great news! Considering the stiff rise in competition, online sellers need to plan in advance to stay ahead of competitors in business. And by knowing exactly how to increase Ecommerce sales in 2020, you can decide where to put your money in.
But before that you might be interested to know how fast E-Commerce is growing and whether E-Commerce will be really profitable in 2020. As you learn the key statistics, you can easily decide the right ways to increase Ecommerce sales in 2020.
Statistics Which Tells You How To Increase Ecommerce Sales In 2020
If you are a small retailer, then make your online store mobile friendly right now! It will lead to a 30% higher conversion rate.
To compete with the giant E-Commerce marketplaces like Amazon, you need to focus more on a convenient return policy, else you may lose 80% shoppers.
Around 80% of buyers read the product description before they take the purchase decision.
38% of prospective buyers are likely to leave your online store if they don’t like the website design or find it inconvenient to browse.
More than 50% of prospective buyers rely on live chat.
And the same number of buyers say they are ok with a chatbot to guide them through the buying process.
60% of buyers use their virtual assistant to buy a product using voice command.
Ecommerce sellers who redesign their website to incorporate visual and voice search can increase their revenue by at least 30% in coming 2 to 3 years.
When it comes to shopping cart abandonment, more than 40% shoppers abandon the purchase midway due to high shipping cost.
Surprising it might sound but more than 90% Americans prefer to receive promotional offers via Email. Also study says that images with emojis have higher opening rate.
And finally not to overlook the social media influence. An approximate 80% American shoppers read the product review on social media before actually buying it.
Facebook still dictates the social media conversion. 85% of social media orders, with average order value of $55, are generated from Facebook.
Advertising posts on Instagram yield good result as 75% of instagrammers take an action after checking the advert.
Many online business owners are using YouTube videos to promote their products successfully. The average order value from YouTube is $40 approximately.
How To Increase Ecommerce Sales In 2020?
As is evident from the above statistics, e-commerce in the coming years will be dictated by automation, technology and social media. If you own an Ecommerce business, you need to focus on customization, customer experience, faultless delivery and a lot more.
So let’s check out 8 ways to increase Ecommerce sales in 2020.
1. Incorporate AR and VR to Increase Ecommerce Sales in 2020
Till date your buyers have checked product images and read the description before clicking the buy button. This will change in 2020 as more small online retailers will focus on virtual reality to woo new buyers.
A VR enabled ecommerce store presents the same feel as visiting an offline store physically. A prospective buyer can walk down the virtual showroom to check out different products before selecting the right one.
Take for instance you are running a real estate business. When customers visit your office and enquire about a certain property you can plan a virtual tour of the property before scheduling an actual visit. This way the prospective buyer gets a better view of the property and then decide whether to go ahead.
Already many businesses, especially related to travel & tourism, real estate, home decor and fashion, have incorporated virtual reality to delight their customers.
If you want to incorporate further sophistication then you have to consider AR i.e., augmented reality. Imagine a scenario where the buyer simply puts on a headset and instantly the surrounding changes around him/ her. IKEA the famous furniture seller has already added an AR enabled catalogue app. It presents prospective buyers with an actual picture of a piece of furniture being placed inside their room. The buyer can assess if the furniture complements the space, how it looks from different angles and so on.
Once you harness the power of AR and VR, it becomes easy to attract more customers and thus improve E-Commerce sales in 2020.
2. Make Your Online Store Voice Search Friendly
Not sure if people are getting lazy or they simply don’t have the time to key in a search, but the fact is voice search is dominating Google searches big way! In fact one out of four shoppers are already using voice search to buy a product. And this figure is likely to rise in 2020.
And what does it mean exactly? Let’s explain with an example.
Suppose you are looking to buy gift products for pets. Even few years back you would have typed the words “gift products for pets” to find suitable options. But now in 2019 you are most likely doing this search a little bit different way. You simply talk to your smartphone and the search gets initiated.
Your E-Commerce should support the voice search technology to increase sales in 2020. If your website is not yet re-designed and optimized for voice search then start working on that immediately.
Remember to add natural language to optimize for voice search. Rephrase your content to make it look like real life conversation, e.g. somebody searching for pet gift products are most likely to ask “who are the best pet product sellers online” or “where can I buy gift products for pets?”
3. Spend More Time On Social Selling And Increase E-Commerce Sales In 2020
As a small business owner you may think social media is a wastage of time and you would rather use that time for better purposes. However in 2020 you need to change your thought process. You simply can’t overlook social media if you are serious about increasing your online sales.
More and more social media users are now taking purchase decisions based on images and updates posted by online retailers. And don’t think they buy only Amazon or Flipkart products. In fact small retailers are performing better on social platforms like Facebook, Twitter and Instagram.
So what exactly is social selling? No it is not the same as social media marketing. But social selling is an interesting concept whereby businesses connect with their audience and focus more on developing a meaningful relationship. It is more about engaging in conversation and offering solution to problems, so that your contacts start relying on you and your products. Ultimately it leads to closing a sales deal.
Let’s explain a scenario. Suppose you run an online store that sells the latest tech products. Now to start social selling you can join relevant Facebook groups, engage in productive conversation, and advise people about tech gadgets. You can also start your business page on Facebook for the purpose. Ultimately it helps build up a dedicated fanbase who relies on your suggestions to buy tech products. And often it leads to a steady flow of referrals too.
To make the most of social selling you have to focus on creating diverse content on a consistent basis. Social media users prefer colorful graphics, and interactive content e.g. quizzes, polls, fun facts, short tips, etc. And of course there is huge demand for videos on social media.
4. Use Predictive Analytics To Strengthen Your Ecommerce Email Marketing Campaigns
Have you heard about predictive analytics for E-Commerce but not sure what it is and how to implement it? Well predictive analytics is all about analyzing sets of data which are collected previously based on your customer behavior and decisions.
For example you have decided to launch an email marketing campaign for a new product. With predictive analysis, you get to know the best time to send email to ensure that it is read.
Now you might be wondering why invest in a predictive analytics tools or software just for email marketing purpose? The answer is, more than 80% digital marketers believe that Email is the best way to build up a dedicated client base and to acquire new customers.
While all the big brands are already using predictive analytics to get more business from new and existing customers, the year 2020 will see smaller retailers embracing the technology too. Yes initially you need to invest money and time to implement the predictive analytics technology but you can be sure of reaping long-term benefits out of it.
Small businesses who are yet to build up a huge subscriber list can benefit extremely from predictive analysis because the software takes into account “Behind the scene” information. For instance, if 50 people submit the contact or subscription form, predictive analytics tells you which all pages they have visited or what type of content they have checked before signing up the form. Accordingly you can plan personalized email campaigns for these subscribers to ensure maximum conversion.
Learn here, how to exactly use predictive analytics in for Ecommerce email campaigns.
5. Add Chatbots And Easily Increase E-Commerce Sales In 2020
If you are running an ECommerce business without a chatbot then this is a great mistake you simply can’t afford in 2020! By adding a chatbot you can automate several processes and make your presence felt 24/7. This can be assuring for customers who know they can connect with your online store anytime and get instant replies also.
Hesitant to take this step fearing high cost of implementing a chatbot? Then rest be assured that the process is not at all expensive. The cost of building a chatbot varies depending on your specific requirements.
But in general a chatbot comes at an affordable price and you can implement it very easily. According to marketers, the return on this investment is extremely high, sometimes more than 1000%!
To make your chatbots sound interesting you can add a little bit of humor to the conversation. Plan the question and answer sessions such a way that your visitors get the feeling of talking to a real human.
6. A Niche Store Is Likely To Attract More Customers In 2020
You heard it right! Rather than selling everything, you can consider a niche store and target a specific segment of customers with your customized products. Yes 2020 is predicted to be the year when online buyers will be looking for customized products that are designed as per their specifications.
For instance if you start a T-shirt and apparel store with an option to “design your own t-shirt”, then it is most likely to attract more buyers, than an online store which sells pre-designed T-shirts.
7. Micro Influencers Can Help Increase In E-Commerce Sales In 2020
Your small business might not afford a celebrity influencer right now, but you can surely use the services of micro influencers to boost sales. You can find them on Instagram, Facebook and Twitter.
Wondering who is a micro influencer? The broad definition is, a micro influencer is an individual with a minimum of 2000 social media followers. Generally they post about a specific topic or niche market to establish themselves as a micro influencer in that particular field.
Let’s explain with an example. Suppose you sell fashion accessories for women online. Now, if your micro influencer with 5000 followers, flaunts a beautiful pendant designed by you, it is most likely to grab attention of many potential buyers. This is why ecommerce owners are now hiring micro influencers to spread the word about their products.
To avail the services of micro influencer, you need to connect with them directly, be it on Facebook or Instagram. Explain your online business promotion requirements clearly. Work out a package/arrangement that suits both of you.
The best thing about micro influencers is that most of them are ready to work for brands with micro-budget. It is always advised to plan a proper deal which clearly explains the responsibilities of the micro-influencer and your financial commitment.
8. Work Out a Flexible Payment Plan
Many established ecommerce businesses offer flexible payment plans to entice customers. Let me explain how.
Suppose you want to buy an expensive product but can’t afford the down payment right now. Do you cancel the plan? Most likely not, if the e-store offers you easy monthly instalment (EMI) option, without charging any interest! Or, maybe they offer you a hefty discount if you pay via a particular online payment system (e.g. PayPal , Amazon payments, etc.)
Buyers now look for such flexible payment plan before hitting the buy button. If you can work out such a flexible pricing or payment model then you can expect a significant rise in online sales.
Few More Suggestions To Increase Online Sales In 2020
E-Commerce and technology are inseparable and yet there is always this fear of data breach and fraudulent transactions. Thus safety remains the utmost concern of online buyers especially when dealing with a new ECommerce store.
A regular audit of your website can keep it secure and search engine friendly.
Shipping problems and poor customer service are the few other reasons why buyers don’t easily trust a small online retailer. So, address these issues and you will definitely notice a significant rise in your ecommerce business.
In order to effectively increase e-commerce sales in 2020, you have to make your prospects feel comfortable and secure while dealing with your online platform. If you can present your buyers with a seamless and secure shopping experience online, they will keep coming back to you for sure!