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Psychological Tips and Tricks to Maximize Ecommerce Revenue Growth

Today, we are able to get billions of people using the internet as part of their daily routine. Since people are active on the internet, it offers an open opportunity for entrepreneurs and marketers to brand and promote their services.

The increasing need to replace 4G LTE with 5G technology in the aviation industry is foreseen to be one of the central factors driving the growth of this industry. The aviation industry is expanding at breakneck speed and 5G technology is slated to play a crucial role in charting its development.

The introduction of 5G in this industry is aimed at establishing a robust connectivity infrastructure that would facilitate seamless communication between aircraft and their ground control systems.

This impact brought eCommerce into the market to sell the products online and reach more consumers.

As a result of this huge impact, the growth of the eCommerce platforms has brought many competitors from various sectors. Many new eCommerce startups fail at certain points to reach their targeted consumers and aren’t able to maximize their revenue.

As an eCommerce business owner, it is a must to seek the right solution to boost sales and brand visibility.

If you are looking to stay ahead of your rivals in the market, then this blog will be of great assistance to you.

Here, I have listed out the following psychological tips and tricks to maximize eCommerce revenue growth instantly.

1. All about sales psychology 

According to market research, nearly 85% of people place their orders subconsciously. This trick was always used by the offline retail stores in the market from the beginning.

The layout of the product listing, showcasing and displaying the price tags are a few of the psychological tricks to make consumers buy the product.

The layout of the product showcase plays a major role in the eCommerce business. Therefore, try to enrich the layout option to make the service more convenient for the consumers and grab their attention easily.

2. Social proof always works 

When you are passing by the street, then across you, there are two people holding new modern handbags. On seeing them, you will seek the store where they would have bought that handbag nearby. It leads you to buy one for yourself; sharing wisdom is the key to grab the attention of customers.

Rather than marketing your service in-app, try to market the offers and discounts on other platforms where you are able to find your potential consumer. Social proofs are a powerful psychological trick to gather users and influence them to buy the right product.

3. Power of utilizing the cross-selling strategy 

Through the psychological and social proof strategy, allow the consumers to place their orders. Yet, there is a chance to sell more items at checkout time with the help of cross-selling.

The impact of cross-selling is that it helps consumers get additional combos for primary products at the lowest prices.

Every eCommerce business owner should implement these cross-selling tactics. Many top brands, like Amazon, use these tricks at checkout time. Many other top brands also use these as “you may like” or “consumers also look for”. It helps you to uplift eCommerce sales shortly on each order.

4: Grant them a special deal 

The cost of the products is always a great way to influence consumers to place an order. Most of the time, in eCommerce, consumers come to check the offers on the particular product they want to buy.

With the assistance of anchor pricing, you can excite their interest and allow them to purchase a particular product or spend more than normally would.

The anchor pricing strategy can be found on popular sites, there will be the original price under the particular product and it would be cut to display a new offer price. This will not change the actual value of a product but to attract and influence consumers to buy it, this will be a useful trick.

For example, the actual price of the book will be $200, by using anchor pricing, the book will be displayed as $230 and now it’s in an offer of $200. This lets the consumers think of a worthy offer and they will tend to adapt to it quickly.

5: Offer something for free

The eCommerce survey shows that most consumers abandon their shopping carts or baskets due to the delivery charge.

The delivery charge is another main thing that consumers take into consideration before placing the order. The study found that 93% of people love to add more to cart/basket when the delivery fare is free.

Here comes the impact of the cross-selling strategy. If the consumer wants to qualify for the free shipping option, then he will feel like adding more products to his/her cart.

Giving some reciprocity will boost up the consumer’s loyalty and they will keep coming back to your service rapidly.

6: Try to unveil the product scarcity 

You can see the psychological tricks on product scarcity in eCommerce and other offline retail stores. Most consumers tend to purchase the product when it is in a quick rush to sell. Because everyone needs to buy their needs fast while the stock is getting out in the market.

By indicating that the item is going to be out of stock, you encourage people to buy the particular product instantly. To make this strategy more reliable, you can indicate this in red text or a red indicator near the particular products.

This will easily allow the owners to catch the consumer’s eyes and let them purchase the on-demand products immediately.

Final Thoughts

These are a few of the psychological tactics that can be implemented straightforwardly in the eCommerce platform.

If you’re new to the online platform, then make sure you have the right eCommerce that includes all these tricks to raise product sales and maximize revenue shortly. It is worth testing one by one to check the growth and impact of each trick listed above.

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