With the shift from a brick-and-mortar store to an online platform, besides the fact that it is a compulsory choice for business to survive under the impact of Covid-19, eCommerce is more than an option. With smartphones and easy access to e-commerce stores, shoppers are now leaning more towards eCommerce for their shopping needs. From groceries to gadgets to clothing – you name it, and you get several small and medium-sized eCommerce stores ready to serve your needs. In fact, in 2018, the number of total digital buyers in the United States alone was 258.9 million. But how much can people earn from eCommerce? Thís article will give you an idea and also some solutions to optimize the revenue.
How much can a new eCommerce store make?
Now let’s see how much a newly set up eCommerce store can make. Data shows that at three months, a newly set eCommerce store can make just over $63,000 in monthly revenue, while at one year they can average it to $127,000 in monthly revenue, and after three years they are ready to churn out an average monthly revenue of $352,000; an increase of over 175% between year one and year three.
Hence, if we need to project a figure for how much money you can make in an average with your new eCommerce company, it would could anywhere below $39,000 of revenue in their first month in business, and generate $6.5 million in total revenue after three years.
Some free tools to leverage
To generate sales through your online store, you must drive a good amount of traffic to your website. In simple words, it means you need to get the buyers and encourage them to make a purchase. You will find the following tips handy:
eCommerce social media is the practice of using social media to market an eCommerce store. eCommerce stores can use social media to build brand awareness, attract online followers, and generate online sales. Companies can also use social media to get their brand, profile, and products shared online.
Considering 71% of adults with Internet access use social media, almost every business can benefit from marketing on platforms like Facebook, Twitter, and Instagram. This is especially true for eCommerce retailers.
Social media platforms also offer a much less formal way of communicating with potential customers than any other advertising channel, making it easy to engage in two-way conversations with users who are interested in learning more about your products.
eCommerce automation is the process of using software tools that will complete various tasks for you, rather than needing to do them yourself. While some aspects of the business will still require human input, a significant number of eCommerce tasks can be automated quite successfully. Automation works best for small, repetitive daily tasks that are always performed consistently.
Automation provides numerous benefits to your eCommerce business because it allows you to accomplish things you otherwise wouldn’t be able to do. Some tasks can be extremely valuable to your business but just aren’t feasible to perform manually. Many such tasks involve constantly monitoring and collecting information, looking for certain parameters, and then acting upon them by following a certain procedure (e.g. sending an email, flagging orders, adding customers to specific segments). Automation provides a means for the software to handle all this data and proceed accordingly, without you needing to intervene once you’ve set it up.
If you are on BigCommerce, Shopify, or Magento, Atom8 is a must-try automation tool to save time managing your store. Check it out here:
Having high-quality content on your B2C eCommerce website is one of the best ways to increase traffic and improve your Google search ranking. Find keywords that people search for, choose high-value keywords and publish content that Google searchers want, are some of the things you need to do.
If you aren’t visible on search results, fewer customers know about you, you sell less, and your growth slows down. At the same time, your competitors will increase sales and profits.
With all the benefits and tools to leverage the benefit of eCommerce to your business, we hope it helped you to get deeper insight regarding this concept, and also, if you already have one, check out those tips to boost revenue.
Our products and services: Shopify automation, BigCommerce automation, Backorder management