Starting a business is far more easier then creating a profitable business. Every digital marketer aims to create a business that gives huge profit. Usually marketers use different online advertising practices that can help the business to grow in the most profitable manner. Due to the surging competition in business arena, marketers are facing a stiff competition and give higher cost for acquiring traffic.
However this problem can be solved with the right and balanced digital marketing strategy.
10seos always work behind providing best solutions for your business worries. These solutions are cost effective and easy to implement. Today, we have come up with five strategies that can impact your business profitability in many ways.
Here goes the list!
- Upselling at the right time
Studies predict, there is 70% chances that upselling can be done with existing customers while the probability for new customers is 5-20%. Once people are about to checkout,that is exactly the right time for better promotion or upsells. If you can plan to go for upsell, make sure to put right before the customer paying for the product. If you haven’t plan for upsell then do it now. It is instrumental in increasing the value of the shopping cart. There can be numerous ideas to look for, if you want to earn some big profit from a small marketing idea. However, we can say that upselling is also a good small idea for getting good profit margin. Ecommerce marketers are benefitted the most with upselling but other service marketers can also use upselling by combining their premium services.
- Increase the customer lifetime value
Customer lifetime value is a crucial aspect for service based businesses as well as for ecommerce marketers. The common method to calculate CLV can be kept aside, rather if you want to make your business profitable then calculate how much time customers spend over your business and use that number as the maximum cost per acquisition. After the result is obtained then optimize your marketing strategy accordingly. It is likely that the customers will generate revenue over time with customer lifetime value.
- Smart Remarketing
Marketers always try to provide with best information, quality product, offers. The power of strong customer services can also lead to better engagement of users. Such factors have a profound effect on user experience yet it does not guarantee for 100% conversion. Users that are not converted in earlier attempts, can be targeted by smart remarketing. You can show remarketing ads to those you gave been in your site for maximum time or went through most of the pages. Showing remarketing ads to random users will yield result. You can take help of Google analytics for finding the right one.
- Generate brand awareness
Proactively managing your brand reputation is very important to attract users to your brand. It is commonly seen that brands with better brand reputation are tend to get better and concentrated traffic as compared to other brands. Getting better brand awareness helps to generate low cost sales. Remember that people are always keen to buy product or services from brands that have proper online reputation and that can be only earned by brand awareness.
There are many ways to make your online business profitable, we hope these strategies can help you beat the competition easily.