Increasing Profitability in E-Commerce

[vc_row css=”.vc_custom_1629965877568{margin-bottom: 24px !important;}”][vc_column][vc_column_text]Looking at the figures of recent years, it is seen that e-commerce in the world has shown an extraordinary growth graph of nearly 20% annually. In other words, the global e-commerce volume climbing towards five trillion dollars is a striking indicator of how trade is shaped by digitalization. Moreover, when we look at the e-commerce volume in Turkey as a whole, it has exceeded 200 billion Liras with an increase of nearly 70%. In the light of all these developments, we can say that e-commerce has gained a brand-new dimension as a part of our daily lives.

As a result, e-commerce businesses must look for ways to develop some strategic methods to expand their operations and increase their profitability. On the other hand, businesses are constantly developing projects to increase customer loyalty, analyze customer expectations and needs, and continue their work for this purpose and thus gain competitive advantage. We have compiled five practical ways to increase profitability in e-commerce.[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1629965877568{margin-bottom: 24px !important;}”][vc_column]

Designing a Great Website

[vc_column_text]Your website is a detailed reflection of your business identity. Visitors get an impression of your business and what you offer them through effective visuals and nuanced texts written according to specific techniques. Therefore, the communication you perform visually and verbally through your website will directly affect the performance of your e-commerce store. 80% of your visitors will remember the visual design on your website and 10% will remember what they read. Of course, this does not mean that the visual is more important on the website, the effect of visual and literary design is a whole in impression management and should be designed according to technical requirements to complement each other.

You should examine the behavior of visitors to your website. Site navigation information, consumer comments, responses to forms and messages are all good feedback and can help guide website redesigns to increase engagement.

Utilize a design that presents your services in an engaging way, not in a cluttered mess. Make sure your website, both visually and textually, reflects your corporate identity and integrates with your corporate communications. Marketing Sherpa’s averages show that 7% of visitors from the homepage go to the ‘about us’ section, 33% of which are likely to convert into leads. Since it takes your visitors less than a second to decide if they want to continue browsing your website, you need to be quick to make an impression.

Check how well your website reflects your workforce, for example, if you are multinational company, you may need a multilingual web presence, and if you are expressing a design workforce, an aesthetically pleasing design with design examples is a must. A website in line with your products and services, what you want to offer, your communication goals and your strategic direction map will not only increase your sales but also your reputation. You can also include campaigns, announcements, or a section with regular texts about your business area on your website, so you can create visitor traffic.[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1629965877568{margin-bottom: 24px !important;}”][vc_column]

Developing Customer Loyalty

[vc_column_text]Reaching potential customers is an important aspect of e-commerce sustainability, but you should not neglect stabilizing existing customers. The stronger your connection with existing customers, the more likely they are to solidify their buying behavior, which is where the bulk of your marketing efforts will reach. Moreover, leads don’t come from your efforts alone; depending on the quality of your workforce, a proportion of leads are generated through referrals from the loyalty group. In other words, retaining existing customers and building loyalty also contributes to attracting new customers. To achieve this, you can apply methods such as gift vouchers, discounts for the next purchase on various payments, campaigns, membership advantages.

Always listen to what your customers have to say about your services and products. Improving in line with feedback is an important key to increasing your customers’ satisfaction and customer return in the long run.[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1629965877568{margin-bottom: 24px !important;}”][vc_column]

Utilize Subscription Products

[vc_column_text]A subscription system can be offered in a way that suits your business format. Digital subscriptions are also a good way to increase customer loyalty. In a subscription system, how you incentivize your customers is of great importance. Therefore, you can use subscription products to offer some privileges to your customers. You can offer customers certain gift options, or you can send them products that you want to reduce inventory under the title of “surprise gift”. Some customers may be happier to receive a surprise product out of the box than a gift. Other customers prefer a product that they think they can use. In this way, you also give your customers an opportunity to try your other products. This method, known in marketing as “sampling” or “product trial”, is a nice way to build loyalty with your existing customers.

According to research, your customers tend to feel valued or privileged when they are offered gift products. Subscription products will also benefit your customers in many ways, both in terms of making them feel special and increasing returns, as well as product trials and inventory organization.[/vc_column_text][/vc_column][/vc_row][vc_row css=”.vc_custom_1629965877568{margin-bottom: 24px !important;}”][vc_column]

Control Your Finances and Use EDI

[vc_column_text]Your e-commerce efforts need to be overseen through the support of an expert. However, use this expertise to identify and implement overall strategies, not piles of paperwork and documents such as all accounting strategies, financial transactions, inventory records, etc. Turning to EDI solutions to support your workforce for document coordination will save a lot of time, labor, and cost, and make things go faster and almost error-free. In this sense, human errors caused by the operation without EMI processes can put your business in difficulty and create obstacles in the flow of communication with customers or business partners.

Regardless of the size of your e-commerce store, developing appropriate accounting strategies for your business, keeping financial records in order and processing data in a professional manner is of great importance for growing your business and increasing your market share, perhaps even for your global expansion goals. Therefore, in the B2B To review our EDI solutions that are most suitable for your business and start your demo version, please click https://www.map.com.tr/products-solutions/our-products/

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Improve Your Website Security Measures

[vc_column_text]Imagine your website as your store or head office where you welcome your visitors. The security of your website is just as important as the security of your guests when you host them. With the increase in digital commerce and its entry into our daily lives, violations in the field of cyber security have unfortunately increased. The last thing you want is for your customers to have their information stolen or to be victimized during the payment process. Therefore, your system must be protected in a way that does not expose your customers’ financial and personal information, especially during the payment process. This responsibility lies entirely with your business because a crisis in this sense can lead to the loss of all your business’s ongoing communication efforts and irreversible damage.

If you invest in professional security support for the proper protection of your website and servers, you will have the opportunity to take immediate action in the event of a breakdown, system malfunction or digital attack. Don’t let this seem like a burden, consider it a long-term investment to protect your business from potential crises.

Embracing these key steps for e-commerce will help you improve your business, but it doesn’t end there. Increasing your workforce, following digital developments, analyzing competitors, looking for new marketing moves, taking strategic steps with dynamic projects for sustainable communication and marketing, learning from mistakes and turning to the new will significantly strengthen your hand in structuring your e-commerce.[/vc_column_text][/vc_column][/vc_row]