Did you know that there are currently 1.1 million online retailers in the United States? With just a few clicks, it’s easier than ever to lose a potential customer to a competitor. For this reason, online retailers are constantly looking for ways to increase online sales. With the help of retail business loans, you can easily implement these five simple tips to successfully increase online sales for your retail company.
1. Think of a Unique Value Proposition
A unique value proposition is a clear statement as to why your target market should purchase from you and not from your competitors. Your value proposition should clearly state the following:
- Relevance – how your product can solve problems or make life easier
- Differentiation – outline the reasons why your customers should buy from you instead of your competitors
- Value – how the product can benefit your customers
It’s important to display your value proposition at all the entry points on your website. Doing this will make it easier for your customers to clearly understand the value of your products. Be sure you also display it on main landing pages such as your homepage, product pages, and about the company.
2. Display Customer Reviews and Trust Signals
When looking for products and services, a buyer’s first instinct would be to check customer reviews. With that said, it can be very beneficial for your business if you can post and display reviews and testimonials from your customers. Customer reviews may appear on the landing pages, pricing pages, product pages, and even on your home page.
Placing trust signals on your website can build credibility and increase online sales. Many people are hesitant to buy stuff online, especially expensive items. Having trust signals eliminates their inhibitions and creates a favorable reputation for your business. If you have professional accreditation, make sure you also put that on display on your website, and be sure web visitors can see it clearly.
3. Drive Targeted Traffic to Your Website
Driving relevant traffic is all about targeting the right audience and conveying the right message. Chances are, people are highly unlikely to buy stuff they don’t want or need. For example, ads for laptops don’t appeal to people who already have one. If you want to increase online sales, relevant traffic is necessary.
To market your online shop effectively, it’s important to create the right marketing mix. A right balance between the right media (advertising and promotion); offer (pricing), and message conveyed to your target audience. So with the right media and relevance, your business will experience an increase in sales.
4. Optimize Your Website for Mobile
Studies show that more than half of all internet shopping traffic is from mobile devices. If you want to increase online sales, it’s important to optimize your website for mobile viewing. The number of websites that aren’t mobile-friendly is astounding, given that mobile search has surpassed desktop search. If you don’t want to lose out on sales, optimizing for mobile is crucial.
Mobile optimization increases sales because it makes it easier for potential customers to view and buy whatever you’re selling. User-friendliness and logical navigation are some of the most crucial elements of a well-designed website. Most of your customers aren’t willing to scroll through your site if they can’t instantly find what they’re looking for. They will most likely abandon your website and look for similar products elsewhere.
5. Provide More Payment Options for Your Customers
Payment options for online retail companies have evolved from card payments to seamless online payment methods. If your business already accepts credit cards, you may want to consider offering ApplyPay, Stripe, WePay, PayPal, and Google Wallet as well.
Today’s consumers have more payment options than ever before, making it more convenient to pay for the goods and services you purchase online. The more payment options you offer, including the newer services, the easier it is for potential customers to give you their money. This is why It’s best to hire a reputable web development company to optimize your website for you.
Improve Your Online Store with the Help of Retail Business Loans
Driving targeted traffic and optimizing your website is the key to increasing online sales for retail companies. However, hiring a web development company can cost a fortune. Fortunately, retail business loans can provide you with he funding you need to accomplish your goals.
SMB Compass offers small business loans for online retailers based across the U.S. We have a variety of loan programs that are suitable for every business need. If you would like more details, don’t hesitate to call us NOW for a totally FREE, no-obligation consultation at (888) 853-8922.