Ideas to Boost the Profitability of Your Shopify Store

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Shopify store online illustration

E-commerce was already a trillion-dollar industry by 2019. Then, the COVID-19 pandemic exponentially increased how many people shop online. It also caused a major rise in entrepreneurs who opened their own e-commerce sites.

While this is great news for employment rates, it means that competition for small retailers became fierce.

No matter what kind of online store you have, if you want to be seen in front of the other sellers, you have to be strategic. For those with a Shopify store who want their piece of this very lucrative pie, it’s time to revise the old marketing strategies!

If that’s you, and you’re ready to take your shop to the next level, these ideas will boost your Shopify store’s profitability quickly!

1. Go Mobile

Chances are, the last time you did your own online shopping, it was on a mobile device. We can predict that because, around the world, mobile shopping is on the rise. It even has its own new name–”m-commerce.”

Mobile shopping used to be a headache. But now, apps like Apple and Google Pay make m-commerce preferable by people who don’t want to dig out their credit card.

If your site isn’t mobile compatible, find a Shopify theme that is.

Don’t get overwhelmed by the many steps involved in customizing your theme. There is help available!

Shopify Partners is a good choice for retail owners who would rather invest their time in their shop than in site development. But if you don’t mind doing the work yourself, Shopify’s platform offers a lot of FAQ guidance. But if you choose, Shopify Developers, then trust me, you have made the best choice as being a business owner due to its easy-to-use functionality.

2. Create a Loyalty Program

Whatever the reason was that you chose Shopify, it’s time to maximize the way you use it.

The platform offers a “membership” option, so you can design a customer loyalty program. When customers feel appreciated, they come back for repeat business. And if they’re earning rewards, they buy more just to get their points.

Use your email list and Shopify’s membership options to come up with a loyalty program that works for your site. This could be a points system, giving discounted rates, or offering coupons. Or make it your own creative idea, but get that loyalty going!

3. Increase Your Sales Options

Maybe you started out as an e-commerce store cautiously selling a handful of products. Now that you know what you’re doing, you can diversify.

Shopify includes adding “upsell” and “cross-sell” options. These are tiny but mighty tricks that tempt customers into buying more or again. You’ve probably seen them on Amazon’s “Products Related to This Item” or “Frequently Bought Together” sections.

Upselling and cross-selling are simple to put into action. They become powerful tools for increasing your sales once you know how to use them.

4. Increase Your Prices and Value

With so much competition out there, it often seems like you have to offer the lowest prices to get people to buy. In reality, customers like to get the best value, not the lowest price.

Bump up your prices just enough to increase your profit cushion. As long as you still provide great customer service and products, you won’t lose much business. What you do lose will be more than made up for with the slight increase.

5. Personalize Your Interactions

Customer retention is everything.

You’ve already started this ball rolling by designing a loyalty program. Customers will keep coming back when you give them a personalized touch, too.

This could be something as small as a pre-printed, “Thanks for your purchase!” business card with a little inspirational quote or a joke. Put one in each package before you mail it, and you’ve made your customer smile.

Increasing your personalized email communications is another smart step. You don’t have to email everyone yourself, of course. However, setting your automated emails up to put the customer’s name in there a few places is easy to do!

Conclusion

You don’t have to have the Midas touch to turn your e-commerce platform into gold. If you have Shopify, you’re already on your way to success, you just have to learn how to use it better! These five ideas are things you can do right now. Once you get them in a flow, you’ll see your profit margin rise along with your new strategies!