Are you looking for new ways to make money on Shopify?
Let’s discover 10 ways to turbocharge your online store in 2023.
With these basic tactics in place, you’ll be able to build your Shopify store in no time. Many Shopify store owners want to know how to earn money when it comes to selling online, but the real question is: how do I grow my Shopify store?
The more you personalize your customer experience, improve the look of your Shopify store, and expand your marketing activities, the higher your Shopify sales can potentially grow. But how do you go about achieving these objectives?
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Did you know that you can link your Shopify store to Facebook and sell directly from there?
It’s a simple approach to expand your Shopify store by providing a multichannel experience that targets your customers where they already spend time. To sell on Facebook or run Facebook ad campaigns in Shopify, first enable the Shopify Facebook channel, which brings your whole product catalogue to Facebook Marketing, Instagram Shopping, and Facebook shop.
Customers are drawn to the area under each product that says “Frequently bought together.” The recommendation appears to be from a seller who is willing to help and genuinely cares about the customer. With every sale, provide customers with (useful) extras, upgrades, or accessories.
Your Shopify theme establishes the appearance of your store, so make a good first impression. Customize your theme to create a fully branded experience. Who needs so many different themes? Maybe not everyone, but if you want to adjust your store’s appearance based on seasons, holidays, campaigns, and other brief promotions, the extra storage comes in handy.
Customers’ tastes are as diverse as the orders they place. Some clients are willing to wait up to three days for delivery, while others are willing to pay top cash for same-day delivery. Provide customers with multiple shipping alternatives. Timed delivery, nominated day, and Click and Collect are all popular options. You boost your worth in the eyes of your clients by making it easy for them to receive their products when they want them.
Did you realize that shipping and handling expenses account for more than 60% of abandoned shopping carts? You can increase sales by providing free shipping. Customers are willing to place larger orders to qualify for free shipping. Examine your existing price points, as well as your usual delivery costs, to determine the lowest price at which you can still make a profit: Customers will add additional things to their cart to reach this price threshold and qualify for free shipping.
Include memberships that give frequent buyers (loyal consumers) a year of free delivery. They pay a tiny one-time fee, but it makes no difference. Customers want free delivery in any way they can get it, so give it to them. Having consumers pay for their delivery in advance enhances your sales and profit margins. Make a discount code available to repeat customers. In addition, for a one-time price, you can provide free next-day delivery.
Expanding your small business into a global market can provide a plethora of benefits. In a warmer area, you don’t want to be having a sweater sale or promoting events a day late due to time zone variations. Internationalization broadens your audience, broadens your demographic, and diversifies your revenue streams, allowing you to scale your Shopify store internationally.
Customer lifetime value (LTV) is one of the most reliable markers of a company’s success. It’s calculated based on three key metrics: Order Value on Average, Total Number of Returning Customers, and Period of Retention on Average. An eCommerce seller’s profits will rise by improving the LTV. Social media marketing is one approach to raise brand awareness and attract more customers. Brands can reach out to existing consumers and introduce themselves to new prospects with tailored social media advertising.
8. To generate traffic to your Shopify store, conduct an SEO audit.
You can have the most gorgeous, user-friendly website in the world, but it won’t help you expand your Shopify business until you generate visitors. A thorough Shopify SEO audit should contain data on competitor benchmarking and keyword analysis in addition to website copy and blog post content. A thorough SEO audit can identify flaws in your existing strategy and competitive analysis, allowing you to rank higher in search engines once they’ve been addressed.
Make sure you’re converting visitors to buyers once you’ve established a constant stream of traffic. Conversion Rate Optimization (CRO) ensures that your site is set up to increase conversions—in other words, that it is geared to bring in more revenue. A/B testing can help you raise your conversion rate, which is the percentage of visitors that become customers. A/B testing, also known as split testing, allows you to display various versions of a landing page to see which one provides the best user experience.
9. Add Shopify Payments to your website for a more efficient checkout procedure.
For merchants, dealing with internet transaction fees may be a huge headache. Sellers who use Shopify Payments, on the other hand, can avoid transaction costs. Shopify Payments is Shopify’s in-house credit card processor. It works similarly to PayPal or Stripe, but with the added benefit of just charging a single processing fee per transaction.
For Shopify Payments, there are two rate structures: one for online sales and the other for in-store sales, and the more you pay for your regular Shopify subscription, the cheaper your payment processing rate will be.
10. Boost the speed of your website
We understand your want to show off all of the excellent things you have. The strain on your web server increases when more products, i.e. content, are added to your site. As a result, page load times are becoming progressively slow. Your website server may be able to manage a few thousand visitors each month just fine. However, when your visitor count grows, you should consider improving your page loading speed.
Slow-loading pages irritate online buyers, and slow-loading pages result in reduced conversions. According to one study, every additional second spent loading a website leads to an 11% decrease in pageviews. Google’s Page Speed test tool will help you determine how quickly your site loads.