We all know that building an online store can be an incredibly rewarding experience. From the moment you launch, to your first sale and beyond; online store ownership is hard to beat. What’s more, WooCommerce is one of the best tools you can utilize to get it done.
But what happens when your online store reaches that dreaded plateau? When your sales are no longer increasing and your store’s growth comes to a standstill. Even if you’re not experiencing this yet, here are some seriously useful techniques you can use to increase WooCommerce revenue.
So let’s get to it. The tips we’re sharing in this article – when implemented – will do wonders to help increase your WooCommerce store’s revenue and get you out of that slump.
1. Sell the benefits of your product, not the features
When writing your product descriptions, sales pages, or marketing in general, it’s important to sell your products based on how they can help the end-user.
A lot of store owners get into the habit of simply describing the product, but what they’re missing is that any similar product can be described in this same way. By instead describing how the product can benefit the consumer, you’re more likely to encourage them to make a purchase.
A great example of this is the self-cleaning oven by Bosch. What would normally be a mundane and perhaps technical product, becomes a sought-after must-have due to the way they’ve described it:
If you need a little extra help, remember that the point of any product or service is to either solve a problem or meet a need for the customer.
- Write down your customer’s needs, wants and what they might be struggling with
- Then, write about how your product solves that problem
- Use this to re-shape your product descriptions and sales pages
- Test the results over a set period and fine-tune
2. Start using cross-selling techniques
Cross-selling is an excellent way to increase your average order value and gain more WooCommerce store revenue from existing or new customers.
Cross-selling is a sales technique that invites your customer to purchase a related or complementary product/service to what’s being bought already. For example, you might suggest a customer buys shoe polish with a new pair of shoes or some spare batteries for their kid’s toy.
This is one of the most efficient ways to increase your average order value by simply using the products you already have in your store.
Here are a few effective techniques that you can use to increase your WooCommerce store’s revenue:
- Frequently bought together
By using social proof, you can show what other users bought alongside the product they’re looking at. So if a customer is looking to buy a trowel, it will pull in other products frequently purchased alongside that trowel. You can also apply a discount when all items are bought at the same time.
- Order bump at checkout
When your customer is about to complete a purchase, add an extra offer that only appears at the checkout. This is usually a discount that the customer will not see again.
- One-click cross-sell after checkout
Just like the order bump at checkout, this technique uses a one-time offer to encourage customers to add to their order. The difference is that a customer isn’t adding the item to their cart, they’re instantly adding it to their purchase.
Cross-selling techniques can be hard to implement properly, but you can quickly and easily add all of the above techniques to your store with the WooCommerce plugin Iconic Sales Booster.
3. Raise your prices
This may seem a little obvious, but by raising your prices even slightly, you can increase your WooCommerce store’s revenue dramatically. Usually, eCommerce store owners set their prices and forget about them, but good pricing management could be the difference between a struggling online store and a thriving one.
This technique can be fiddly to get right, so here are some steps you can take to make sure you do it with care.
- Do a pricing review
Check up on your margins, cost of manufacture or producing your products, the time spent acquiring them, etc. and make sure everything is accounted for.
- Check your competitor’s pricing
If they’re charging more, there’s a good chance you can increase yours even slightly.
- Prepare how you’re going to inform customers
Most customers will be fine with a slight increase as long as you’re transparent about it. They won’t want to pay for your increased margins, but if it means they’re getting a better product or service, most won’t mind.
If this fails, and you can’t justify increasing your prices, or you fear you might lose customers in the process. Then simply offering upgraded products might be a good option.
The upgraded product you offer could have different packaging, a different design, a couple of added features, etc. The changes don’t have to be large for you to increase your prices in this way.
A great place to see this technique in action is with Pippins Plugins. They increased the price of their products by as much as 250%.
You can see their results here: pippinsplugins.com/reflection-on-a-price-increase
4. Use social proof
When utilized properly, social proof can be a foolproof way to increase your WooCommerce store’s revenue.
Studies show nearly 70% of online consumers look at a product review prior to making a purchase. So without product reviews and testimonials, your site is likely missing out on a good number of sales.
Reviews aren’t the only way to utilize social proof though. Live sales notifications or recent sales popups are brilliant ways to generate trust through the use of other people’s purchases. One such solution is NotificationX which we had reviewed in detail here.
When potential customers become aware that other customers are buying from your store, they’ll be more confident in making their first purchases.
5. Offer discounted bundles
You already have the products in your catalog, so an easy way to increase the revenue of your WooCommerce store is to simply bundle them together into grouped products.
This technique works best when products are bundled together at a discounted price to increase the likelihood of a customer buying. Bundles are a great way to increase the average order value of your store but they also work well to shift or reduce older inventory.
Bundling products also works to your store’s advantage because when marketing your products, instead of trying to sell 20 individual items, you can sell 1 bundle at a higher price.
At the same time, it works to the consumer’s benefit by reducing friction with pricing. The cost of the bundled product is clear and there’s a discount applied so the customer can be sure they’re getting a good deal.
Bundling products can be done simply and easily with the plugin WooCommerce Bundled Products.
When it comes to increasing your WooCommerce store’s revenue, implementing the above strategies is a surefire way to give your store a boost.
Many of the techniques we’ve listed above are simple and easy to implement, but require fine-tuning to fit your store and your customer journey.
Do you have any questions about how to implement these methods in your WooCommerce store? Let us know in the comments section below.