Is there really a way to offer customers free shipping without going into loss?
“Free Shipping & Returns” is a dream when you see it as a customer, but as a seller it can be a logistical nightmare.
Many ecommerce companies offer free shipping and easy returns so as to deliver a “wow” experience to their customers. We cannot ignore that logistics lay a positive impact on order quantities, loyalty, and average order values.
The Benefits of Free Shipping
If you’re a consumer, the benefits of free shipping are obvious. But for merchants, there are a couple of ways to look at it.
- Short-Term Gains. A common rationale for offering free shipping is that it will immediately boost online sales, leading to more orders and more profits. Free shipping can also lead to larger orders if retailers set minimum thresholds value for their products. Yet not all the retailers experience increased profitability. According to the ComScore survey, while 46% of online sellers say that free shipping did increase profits, nearly one third said that it did not.
- Long-Term Gains. Most of the online shoppers will only buy from merchants that offer free shipping, and when it’s offered, merchants should reasonably expect to acquire new customers. Try considering repeat purchases from the customers who purchased just because of free shipping offer.
- Staying Competitive. Free shipping is necessary to remain competitive in today’s marketplace. Unfortunately for many online sellers, free shipping don’t seem to result in a competitive advantage, nor do they increase sales. In this business climate, free shipping can maintain existing sales levels in the wake of more aggressive competition.
Free Shipping- Today’s Scenario
Free shipping is a necessity for retail sites. Being a useful tool for promoting a site, it help improving customer service and encouraging consumers to spend more.
Consumers have begun to expect free shipping to be available at many retail sites. Generally people seeks free shipping when they search for sites to shop at.
According to recent data from Accent, 88 percent of consumers would be more likely to shop at a site online if they were promised free shipping.
Research also indicates that offering free shipping increases search traffic for the company.
Try these Steps to make free shipping profitable to your company
- Do Compare: Compare the value difference with and without a free shipping offer.
- Create Thresholds: Increase the minimum order value required for free shipping, and test the improvement in margin.
- Set Restrictions: Consider the improvement you’ll get by offering free shipping only on some selected products where it is profitable.
- Enact Price Increases: Increase all your product prices to compensate for the loss you take on free shipping.Now see your profit compares.
Email Marketing is one of the most powerful eCommerce marketing tools to engage prospects & customers and transforming them into prospective clients.
E-Commerce email marketing is the art and science of using email to generate sales for your store. It is all about building relationships. While approaching email marketing for online retailers, you can:
>>> create better promotions that sell more product.
>>> nurture your subscribers better, which will lead to more long term sales.
>>> segment your database more effectively, which will (once again) generate more sales.
According to Custora, email marketing accounts for approximately 7 percent of all eCommerce user acquisitions, making it second only to search (15.8 percent).
Learn some strategies to implement in your email marketing & boost your E-Commerce site’s revenue
- Choosing the best E-Commerce Email Marketing Software: Most email marketing software isn’t ideal for eCommerce companies — usually because most email marketing software is simple.In other words, using the right email marketing software for your store is very essential to make your store go a long way while capturing the potential revenue.
- Do Reward Your Customers for Reviewing the Product They’ve Bought via Email: Believe me, this will surely help you to enhance your sales as well develop a sound connection with your customer. Many ecommerce sites have been using this marketing tactics to enhance their growth. For instance, I have been reviewing products of Purplle- a popular cosmetic ecommerce site. Every time i review their products, I get rewarded with discount coupons that actually pushes me up to shop again with Purplle so as to redeem the offer I got. Thus, Rewards and loyalty programs are very popular because they incentivise your customers to purchase more frequently.
- Learn Basic Email marketing Tools: Litmus, an email marketing tool, discovered you have only 4 seconds to capture someone’s attention and get them to open and read your email. Just make use of that “4 Seconds”. So all you need a perfect & catchy subject line!!
- Give a Personalize Touch to the Email: Personalize your emails with someone’s name. This would get people’s attention quicker.
- Confirmation/Thank You Email: Another very obvious email to send out is the confirmation and thank you email. Whenever a customer places an order, you’ll need to send them the details of their purchase and thank them for being a customer.
- Ask for Purchase Experience Feedback, Initiate Special Offers: Special offer emails can drive a serious amount of traffic and sales to your store. Use these tactics frequently to personalize your connection with your customers. Also, don’t forget to ask the customer about their post purchase experience or feedback.
- Run Campaigns For Birthdays & Anniversaries : Personalized birthday mailings significantly boost up the seller-buyer connection. What you should do is:
>>> Send an email to current customers asking to update their account with birthday information
>>> Send an email to customers on their birthday with a personalized offer
- Turn your likes into leads with social contests: Social Contests should be part of every social media marketer’s toolkit. Running a contest on social media sites is one of the most rapid, affordable and scalable tactics for engaging your customers, capturing new leads while automatically building your fan base.
I hope this list helps you in your ecommerce marketing journey and will boost up your ecommerce business together with your confidence.
Traditional business applications have always been very complicated and expensive. The amount and variety of hardware and software required to run them are very difficult to manage. You need a team of experts to install, configure, test, run, secure, and update them regularly.
As cloud computing grows in popularity, thousands of companies are converting their non-cloud products and services into “cloud computing.” There is no doubt that cloud computing technologies have introduce new ways of delivering and managing IT services, yet we will likely see improvements of current-generation cloud environments and offerings as well as completely new technologies for application developers to take advantage of.
What is Cloud Computing?
In the simplest terms, cloud computing means storing and accessing data and programs over the Internet instead of your computer’s storage location. With an online connection, cloud computing can be done anywhere, anytime.
Businesses quickly improve service delivery capabilities without the need to spend money on buying new infrastructure, licensing software, and training staff.
Having gained much popularity in past years, Cloud Computing is going to get still bigger in the coming years.
Cloud Computing has been divided into three broad service categories:
- infrastructure as a service (IaaS)
- platform as a service (PaaS)
- software as service (SaaS)
Benefits of Cloud Computing
Cloud computing has several benefits for businesses and end users. Three of the main benefits of cloud computing include:
- Self-service provisioning: It allows the end users to set up or launch a service or application themselves without any exterior help of IT professionals.
- Elastic computing: Elastic computing is the ability of a cloud service provider to provision flexible computing power when and wherever required.
- Pay per use: Computing resources will let users to pay only for the resources and workloads they use.
Running an online business never been easy! Do you know your Online Business is vulnerable to threats, frauds, phishing & a number of malware? Looking at one side of the coin, Information technology has given a lot to enhance the growth of online businesses, but observing the other side of the coin, there is a strong need to protect the business from increasing cyber threats.
Certainly all online business includes conducting long-distance communication with customers and suppliers, advertising, buying and selling, researching, identifying new markets, and even conducting banking transactions. Since these things are the integral tasks, followed daily, you may have to rely on Information-technology to stay updated. Do you also ensure the protection of your data, your networks, and your IT systems as well?
You will be shocked to know that 97 percent of smaller companies neglected to prioritize online security improvement for future business growth. This is the reason they become the easiest targets for cyber criminals.
What Actually is Cyber Security?
Cyber security is about protecting your computer-based equipment and information from unintended or unauthorised access, change, theft or destruction.
Types of Cyberattacks
- APT: Advanced persistent threats, or APTs, are long-term targeted attacks that break into a network in multiple phases to avoid detection.
- DDoS: Distributed denial of service, DDoS attacks occur when a server is intentionally overloaded with requests finally leads to the shutting down the target’s website.
- Phishing: collecting sensitive information like login credentials and credit card information through a similar-looking website, often sent via email.
- Other attacks include Malware-computer viruses, worms, trojan horses & other malicious programs targeting computers, Password attacks that include guessing or cracking passwords to gain access to target accounts & data, Inside attacks- generally by internal employees with admin credentials
Learn some quick Cyber Security tips for your online business
Small Businesses generally ignore the security threats due to lack of budget and manpower. But a little awareness can help your business avoid these attacks.
- Training Employees on security threats, executing plans like strong passwords, keeping the latest & updated operating systems, security softwares-antivirus, firewall etc.
- Securing your Wi-Fi networks by changing your Service Set Identifier (SSID). You may also use a complex Pre-shared Key (PSK) passphrase for additional security.
- Backing up the important business data, files & other information.You may store it off-site or can use Cloud computing-very popular these days!
- Restrict the usage or access to other non trusted softwares that may have no use to your business.
Following these simple tactics, you can ensure the protection of your online business against hackers eyeing on your vital business information.