All ecommerce stores want to be profitable. But with so many online stores competing for attention, today’s brands need to dig deep and find creative ways to maximize their revenue and returns.
Ecommerce profitability is how well a brand can generate more revenue than its costs — and the secret to success is a clever strategy filled with creative tactics.
It’s not just about sales here (although it might seem that way). It’s also about understanding essential metrics to help you make smarter decisions and create an easy, enjoyable shopping experience.
Smart product recommendations suggest items that customers are likely to be interested in, based on their past behavior, including what they’ve viewed, what they’ve added to their cart, or what they’ve purchased before. The idea is to make shopping easier and more enjoyable by helping customers discover products they might not have found on their own.
How to implement smart product recommendations:
Image Source: Deux
Deux has a slider of products customers might also like at the bottom of each product page.
Who doesn’t like receiving a surprise in the post? Subscription boxes are a great way to maintain a sense of mystery and promote your products while keeping anticipation high.
Boxes can include anything from beauty products and snacks to clothing and pet supplies. The idea is to create a fun and convenient shopping experience that keeps customers excited about what they’ll receive next.
How to successfully implement subscription boxes:
Image Source: Look Fantastic
Look Fantastic has a rolling monthly subscription box, as well as limited-edition boxes.
Loyalty programs are the perfect way to reward customers for their repeat business and encourage them to come back. These programs often offer points, discounts, or exclusive perks based on customers’ purchases, making them feel valued and appreciated.
How to implement a loyalty program:
Image Source: Beddy
Beddy’s Cozy Club lets customers earn points and rewards whenever they buy.
A user-friendly website design leads to an enhanced user experience (UX). This makes shopping at your online store easy, enjoyable, and intuitive for customers. A well-designed website helps visitors find what they need quickly, reduces frustration, and encourages them to purchase.
How to enhance the user experience:
Image Source: Oliver Bonas
Oliver Bonas’ intuitive search feature helps shoppers find products they’re most likely interested in.
Smart product bundles let you group related items at a discounted price, making it easier for customers to purchase multiple products while increasing average order value (AOV). Bundles also introduce shoppers to new items they might not have considered.
How to implement smart product bundles:
Image Source: Edgard & Cooper
Pet care brand Edgard & Cooper has a selection of bundles for customers to choose from.
When we say show-stopping product content, we mean engaging and informative descriptions and visuals that help customers understand and connect with a product. Instead of just listing features, this approach focuses on telling a story about the product, making it more appealing and relatable.
Great product content can significantly influence a customer’s decision to purchase because it informs and excites potential buyers.
How to implement show-stopping product content:
Image Source: Halfdays
Halfdays includes tons of information about its products, as well as a selection of images and customer reviews, on each product page.
The customer journey isn’t linear. Sometimes shoppers will start out on social media or search and move to your website, then your store, and then back again. Seamless omnichannel shopping helps customers move effortlessly between these different platforms without interruptions.
The goal is to create a consistent and convenient shopping journey, ensuring customers enjoy the same level of service and access to information no matter where they shop.
How to create seamless omnichannel experiences:
Image Source: Urban Outfitters
Urban Outfitters allows shoppers to pick up their products in-store instead of waiting for delivery.
Partnering with popular social media personalities can help promote your brand and product because influencers have pre-built trust and credibility with their followers. They can help you reach new audiences, increase brand awareness, and drive sales by marketing your products to their existing audience.
How to team up with influencers:
Image Source: Ruggable
Ruggable often partners with industry influencers on limited-edition product lines.
Smart upselling encourages customers to buy more expensive items, upgrades, or additional products. The goal is to increase the value of each sale by offering customers options that enhance their purchase. When done right, smart upselling can increase average order value while also boosting ecommerce profit margins and improving the customer's shopping experience by introducing them to products they might find useful.
How to implement smart upselling:
Image Source: Blume
When you add items to your cart, Blume automatically suggests additional products that might be a good fit.
Instead of simply browsing static product pages, interactive experiences allow shoppers to engage with products in fun and immersive ways. By incorporating technology like augmented reality (AR), quizzes, and live events, brands can create a dynamic shopping environment that captures attention and encourages purchases.
How to implement interactive shopping experiences:
Image Source: Warby Parker
Warby Parker encourages shoppers to try on their glasses virtually before they buy.
Maximizing ecommerce profitability and ecommerce profit margins requires a healthy blend of creativity and strategic thinking. By implementing innovative tactics such as smart product recommendations, subscription boxes, and loyalty programs, you can enhance the shopping experience and encourage repeat business.
Don’t forget to keep a close eye on essential metrics like conversion rates and average order value to understand what works best for your store. As you explore these creative approaches, remember that the goal is not just to increase sales but to build lasting relationships with your customers.