Proven Strategies to Boost Your WooCommerce Store’s Profit Margins

Have you been waiting for the phone to ring? You might be waiting longer these days to get your next order. However, the moment you hear success stories of your competitors and see their orders flaring up, you simply cannot keep calm. Well, are you ready to make a difference to your bottom line? If the sales and profits of your WooCommerce store need to get moving by now, you have got to offer tested and tried strategies that work.

Whether you are selling physical products or services or both, here is what you need to do to rev up the performance of your store:

· Enhance the page speed

There is a direct connection between the loading speed of web pages and sales. So, if your website takes longer time to load, prospects may not stick to the site or buy readily. Check your website’s speed immediately. If you find it to be the losing link, try to get your site up and running speedily. With three seconds taken for the site to load, you will retain about 40% of the online visitors. However, nothing would be easy unless you hire dedicated WooCommerce developers to elevate the technical aspects of WooCommerce. For new e-commerce store owners not familiar with the steps to enhance the site speed, things would be simpler with the experts’ intervention.

· Modify the pricing strategy

Running a WooCommerce store may not always mean that you are surrounded by profits. So, move ahead and optimize the pricing strategy, aligning the dream figures with real-time factors. That way, you will know what is hot and what is not in demand. For a few customers, popular products may be the preferred option even if it is high priced but that may not be the case with other customers thinking differently. The best WooCommerce developers for hire may implement a dynamic pricing strategy that helps push the prices up and down based on the demand. That way, you can get better control over your profits.

· Offer the best products

The online market is a changing landscape. While the best brands suck up about 80% of the profit, the mid-sized companies experience thinner profit margins. However, even the best and the mid-sized players experience situations where the profit situations turn upside down. If you are looking forward to high-profit margins and expecting loyalty from your customers, offer customized products to customers. Research reveals that over 40% of customers agree to extend the wait time patiently when offered customized products. The big players follow this strategy, so you shouldn’t be left behind. Hire a WooCommerce development agency and be on the same page with big players when trying to enhance the profit margin of your website.

· Offer discounts and promotions

Have you optimized the discount strategy of your WooCommerce store? Be sure to create discounts based on the total products in the cart and the user roles. The discount rates need to be organized to offer the most attractive deals to customers. Do you know that a well-thought-out discount strategy may boost your sales by about 10%-15%? You can also make the discount appear suddenly when a customer is in a kind of dilemma to move to the checkout. Smart discounts are sure to drive the sales up. Hire a web development outsourcing company if you are facing stumbling blocks when offering discounts and promotions.

· Free shipping

Customers love to shop from websites that offer free shipping policies. For businesses trying to fulfill the order delivery process satisfactorily, free shipping policies need to be created cautiously. Before offering free shipping, determine the weight of the products, the kind of packaging needed, speed of delivery, cost of the order, and profit margins. Don’t allow free shipping to consume your profits; the higher the upfront pricing of the products more profitable it is to offer free shipping.

· Make the checkout process easy

One of your major targets should be to ease the checkout process. That way, you can reduce the cart abandonment instances to a great extent. Don’t let your customer turn down a loaded cart due to a complicated checkout process. Reduce the span of checkout time and make the pages easy to navigate so that the buyers can purchase from your site fuss-free. Discuss with WooCommerce developers in India for ideas that help in turning the challenges into opportunities.

So, here are a few important strategies that you need to implement to enhance the profit margin of your WooCommerce store. Turning profits is what most businesses look forward to achieving. So, you need to leave a good impression to make sure that your customers are happy. There is no denying that happy customers tend to be more loyal to your brand and help you strengthen the profit margin.