Saturday, 23 September 2017

How to Generate More Revenue From Your E-commerce Business

Who doesn’t like to earn more than what they are earning at present? Earning high returns would be the only motive of every entrepreneur in this competitive world. While we talk about E-commerce business, even here more and more entrepreneurs have started to choose this field for their business. E-commerce has emerged as the favorite business option for entrepreneurs. And the main reason behind this could only be the difference between the amount invested and revenue generated. And that too within less time span. With all these advantages, it is but obvious that more and more entrepreneurs would tend to choose this business. So in order to make your E-commerce website unique from your competitors, we have bought some simple steps which must be followed to generate more revenue from your E-commerce business.

How to Generate More Revenue from Your E-commerce Business
E-commerce Website Development

Subscriptions can be termed as a primary source of revenue generation for many E-commerce websites. These sites earn revenue by charging a subscription fee from their buyer or seller so as to buy/sell the services or products available on their E-commerce website.

Up-sell and cross-sell products:
This point might seem to appear moreover towards developers side. But nowadays even the one who has access to admin panel can handle this up-sell and cross-sell facility. But what is this up-sell and cross-sell of products? Let us understand with a simple example. A customer buys a brand new iPhone, but in accordance with it we know that he would need a case or hands-free for it, so leading our customer directly to purchase or buy the related products can be called as cross-selling. This is one of the best ways to earn more revenue from an E-commerce website. For a huge E-commerce website company like Amazon, Up-selling, and cross-selling makeup as much as 35 percent of their total revenue. And thus it could be one of the main aspects of using this feature for every E-commerce website. Nowadays, many E-commerce website development companies in India have started to include this feature in their service list.

Advertisements are another way of gaining high revenue from E-commerce websites. Advertisers who wish to display or put their ad on a particular website would pay a predetermined amount to the site owner. This could be either on a rental basis or on the number of clicks received for the advertisement, for this, there are two types of advertisement like CPC (cost per click) or CPM (cost per thousand). Ads may be served by the site owners own ad server or through third-party networks like Google Ad Words.

For every E-commerce website, the role of the owner is just like a broker. The whole work of buying and selling is carried out by buyers and sellers. The model is really simple – the seller sells and the buyer buys, and the owner makes money out this transaction. For this, all that an owner needs to do is invite more sellers to sell and buyers to buy. This is one of the most popular and guaranteed revenue generation methods followed by most of the E-commerce portals. This mainly happens only by the design and development of your website, thus again here one needs to rely on E-commerce website development companies in India.

Be creative:
The more creative you are the more chance you get to earn more revenue. Being creative would include improving product descriptions and presentation. Try using attractive product photography to build trust and along with it even tries to improve the visuals of your site.