Doubling your profit overnight
Looking for ways to quickly and effectively increase profit in your ecommerce business? Well the best way of doing just that is to remove any risks perceived by your buyers.
Now the biggest and most common risk buyers are often so concerned about is investing or buying a certain product or service and not getting what they really need out of it. Some people are still skeptical about making purchases online not to mention giving out their credit card information with no assurance in shipping or a refund. What people in the ecommerce business needs to do in their marketing campaign and their business website is remove such risks from the sale.
Removing your buyers’ risk from the sale
So how exactly do you go about removing buyer risks which may be hindering your business from maximizing profits? Well the easiest way to do this by confidently offering guarantees and one of the best guarantees that you can see in the market today is a 365 days no questions asked money-back guarantee. As a merchant, you may feel uncomfortable about offering such a guarantee but in return buyers would be more confident and makes it more likely for them to actually make a purchase.
Now going such a route may get you to process a couple of refunds but think about it – you are probably going to have to give out refunds any way for buyers that are unhappy about your product or service. We can’t change the fact that there will always be customers who are unhappy about what your business offers and will demand a refund so you might as well have a guarantee in the first place and attract as many buyers as possible.
Most people are honest and will generally do the right thing. Some of the things that you can expect to happen once you start guaranteeing your products or services includes:
- A significant increase in conversion rate
- Generate more sales from the same amount of traffic
- Increase in average sale value
Now looking at it hypothetically, let’s say that you’ve had a number of people visit your ecommerce website and in a month, 200 of them actually made a purchase totaling to $400 so your average sale value is $40. How fantastic it would be if you’ve managed to increase the number of buyers in a month to say 300 and your average sale value to $50? From the same amount of traffic, you’d be increasing your net sales from $8,000 to $15,000.
It’s certainly all possible by offering guarantees and getting rid of anything that buyers would interpret as a risk in their decision to invest or purchase from you. Of course don’t simply take our word for it and go try it out for at least 3 months and see how it works out for your business. If you found this useful please subscribe to our channel, share the video and leave a comment below. I’ll be seeing you in the next video!