How to increase revenue on your website in 2020
Businesses exist to make money. That’s not to say that that’s all they do - your successful company can also create the lifestyle you want. But hard cash is the life blood of any business and you can’t do anything without it. Other than perhaps fill out your P45.
Why are we talking about this? Because just like an office building, company vehicle or even staff, your website is usually in existence for this reason – to generate revenue for your business. That’s the bottom line.
As an agency with a wide range of clients, one of the most common complaints we hear is “my website isn’t generating enough business for me” closely followed by “well actually, I don’t really know if it is, it’s just a feeling I have when I look at our books or talk to my staff”.
(Want a quick summary?: https://www.youtube.com/watch?v=ReTEB8IQUPo)
- How's your business maths? Why your financials matter!
- The 3 essential design rules
- Selling online - 4 top tips to improve your e-commerce conversion rates
- Trust is the new currency
Which brings us to our title of how to increase website revenue or in other words, improve your conversion rate. Let’s start with some business ABCs…
This might sound a bit basic, but some business owners are worryingly unsure of their figures.
You’ve seen Dragons’ Den haven’t you? You know the format - the pitch is going swimmingly well until the Dragons start asking some basic money questions around turnover, profit or how much a product costs to produce. Suddenly it all falls apart.
Figures may not float your boat, but this stuff is important! You need to know these key metrics if you’re going to calculate the value, or Return on Investment (ROI), of your website.
And while we’re talking money, what about all that budget you’ve been blowing on Google Ads (PPC)?
Driving (and paying for) traffic can be wasted if users quickly bounce away. How patient are you on a website? Most of us quickly give up, with many studies showing websites have on average just 7 seconds to grab our attention before we give up and hit the “Back” button. That means your website needs to quickly convey your message in a clear and concise way. How do you do that?
(Don’t have time to read? Watch our 1m25sec video on https://www.youtube.com/watch?v=V23Zf1C3oK4)
1. Give the people what they want
It can be easy to lose sight of this when we get all creative and spend hours discussing what colour the icons should be or whether it views correctly on the Iphone 27. Don’t get us wrong, as a creative agency we absolutely love to come up with brain meltingly beautiful designs – but we also temper this with making sure the site actually works as a business tool. Gotta love a bit of form vs function!
Always keep your user in mind.
Why are they visiting your site and what do they want to find?
Once you know this, make it as easy as possible for them. We all love a website that clearly tells you exactly what you wanted to know and shows you how to get it.
Remember the majority of users are using mobiles, so you should design your site with the common IPhone or Android users in mind. Huge desktop displays are now in the minority (unless you’re a hardcore gamer).
2. Ensure you have a single Call To Action on each page.
Information overload is the bane of modern technology.
Why not make your website refreshingly simple? Your users will love you for it.
Don’t drown them with lots of messages. If you want them to call you, then show that clearly on a “Call Us Now” button (which should let them click-to-call).
Want them to buy online? Give them a clean button showing how to do so and an easy to use e-comm basket process.
If you have more to say, break it up into different pages. It’s better to have several small punchy pages, each with a single call to action, than a monster page with dozens of messages.
3.Quick and easy navigation
Continuing with the theme of simplicity, ensure you have great navigation which enables you users to get around your site rapidly.
How can you do this?
One key is to have meaningful site structure. Try to avoid huge drop down menus that end up filling the entire screen. Instead have products page segmented and use imagery whenever possible. Again, we’ve all got lost in badly structured sites. It’s frustrating and you inevitably leave. So avoid this at all costs.
Ensure you have an effective search bar with predictive results if possible.
Finally clear, easy to read copy broken up into manageable sections will provide key info concisely.
1. Cross sell like Amazon
This single tactic is widely attributed to massive revenue gains for Mr Bezos. Not sure what cross-selling is? It’s the “Other customers who bought this also bought…”.
Very simple, very effective. Bought a new gadget for £300? Amazon suggest you buy a nice case for it for £30. What’s £30 quid when you spending £300? You’ve just been cross sold to.
There’s loads of studies that show why this works on us mugs, I mean humans, so don’t just take our word (and a megacorp’s) for it.
If your e-comm platform, i.e. Magento, lets you add this kind of functionality, then use it.
2. Check your offers and pricing simple
By now you may have caught on to the fact that simplicity is a key. That applies to your pricing too. Make prices and any offers clear. No-one likes to struggle to find a price and worst still, have to enquire. Remember this for your discounts and offers too. It shouldn’t need Sherlock to work out the bulk discount if they buy 17 of a single item.
3. Allow users to buy as a guest.
You have a fantastic site with nice clear navigation, great products, killer cross sell offers and market leading prices.
But you’re not selling.
One reason could be the soul-destroying, basket-abandoning, time-draining registration process you insist on before letting your customer buy that £1.99 eggcup.
More required fields mean less sales. Try to remember that. Keep them to an absolute minimum or even better, let users buy as a guest. And when they do, you can always give them the option to sign up if they want, maybe with the tempting offer of discounts or similar.
Still not convinced that such a small change will make a big difference? Watch this video without nodding in agreement then…
Retarget via email
Retargeting is big business. You look at a pair of trainers and everywhere you else you go, a banner ad of those nice Air Jordans follows you around. Very clever.
But another form of retargeting is via email. If they’ve bought from you (and given consent) then you have your customer’s email address. That’s extremely valuable data which you can now use to carefully send (not bombard) with email offers, news and upcoming sales. MailChimp or similar platforms can really help with this.
Everyone knows everything about everyone else online.
Which means prices and products can be really similar as competitors match each other. So how can you differentiate yourself?
Establish trust via reviews.
A good place to start is the Google Knowledge Panel – otherwise known as that box on the right hand side of the Google screen which shows all of a business’ details including their reviews.
A step up from this is to use a reviews platform like Reviews.co.uk. This lets you easily automate request reviews and integrate your results into a handy webpage widget. There’s an example at the foot of our home page www.morphsites.com
Do it all again. In a few weeks.
Done all of the above? Nice work. Unfortunately, you need to re-evaluate your site on a regular basis. Don’t worry, it may only need a quick tweak here and there, but regularly checking and auditing your site will allow you to see what’s hot and what’s not. You may also uncover some surprisingly insights into your customer’s behaviour which you incorporate into future web marketing strategies.
About The Author :
Greg Pankiewicz has worked in design, marketing and sales ever since he was little. He loves working with local and regional businesses and is passionate about great web experiences. When he’s not writing about persistent baskets, he likes football (not soccer), bodging DIY at home and being mocked mercilessly for his ridiculously small dog.