How to Optimize Your Ecommerce Value Proposition
By Tom Wintaugh
Read on to learn more...
Want to read this blog offline?
No worries, download the PDF version now and enjoy your reading later...Download PDF
Ready to take your online business to the next level? Modern ecommerce technology has made it possible for businesses to quickly scale up their sales, reach, and revenue…but many merchants aren’t sure how to even get to that point.
In this article, we discuss what you need to do to set your business up for successful, sustainable growth.
The more people who visit your website, the better, right? Not necessarily. Your visitors should also be the right people, those who may be interested in purchasing your products. If you want to scale up, you’ll need to make sure that the traffic your site is getting is comprised of quality visitors.
Here are a few things you can do to drive higher quality traffic to your site:
Tracking Average Order Value (AOV) is an easy and effective way to measure how effective your merchandising and marketing efforts have been. The higher your AOV, the lower your net acquisition cost for each customer. Here are a few strategies for increasing your AOV.
Of course, you also want customers to come back and purchase from you again. This is much more cost-effective than attracting and converting new customers. Customer lifetime value measures how much each customer will contribute to your brand over their lifetime. The higher this is, the better. Increasing your average customer lifetime value is an excellent way to boost your bottom line.
As you grow your business, you’ll leave some competitors behind and pick up new ones. Here’s how you can make sure your site stays relevant and competitive, no matter how much you grow:
Leverage Custom Site Features
These days, it’s relatively easy to launch a functioning website. Where you can stand out is with a highly unique user experience. This can be customized based on who your customers are (your buyer personas), and the types of products you offer.
Produce Thoughtful Content
Content is still king. One of the best ways to gain a competitive edge and establish your brand as an industry leader is by creating consistent, helpful, and interesting content.
Looking for ways to get more customers, more conversions, and a better ROI? Check out our whitepaper, Growth Strategies for Successful Brands.
Miva offers a flexible and adaptable ecommerce platform that evolves with businesses and allows them to drive sales, maximize average order value, cut overhead costs, and increase revenue. Miva has been helping businesses realize their ecommerce potential for over 20 years and empowering retail, wholesale, and direct-to-consumer sellers across all industries to transform their business through ecommerce.