Statista predicts revenue from global retail ecommerce will rise to $4.88 trillion by 2021.That means, in upcoming years, you can expect continued growth with more businesses joining the trend. This translates to more competition and thriving to stay on your toes.
Regardless of industry, strategies that worked a few years ago don’t always hold true today. Now is the time to integrate new sales strategies to save your customers from running to the competition and gain new ones.
Here are 10 actionable tactics to increase sales, regardless of competition.
1. Premium Selling
Premium selling, or more popularly known as upselling, is to offer a slightly updated or supersize version of the products customers are already buying. Upselling creates a win-win situation for buyers and sellers. Customers feel like they got a better deal at a cheaper rate with bulk quantity. On the other hand, sellers win by selling bulk size products. More sales, more profit philosophy.
2. Social Media
Social media offers an ability to engage with users and create a sense of connection before you approach them to buy products.
Majority of shoppers gain inspiration and ideas from social media sites – it comes from posts of their friends and family or a social media advertisement from an ecommerce website. If you want to reach customers and make sure you don’t end up in the corner, open your stores on social media sites. Facebook store is already there to fulfill your dream. Regarding Instagram, use its account to display your products.
3.Abandoned Carts Reminders
Users often add the items to the cart, but they never reach the checkout button. Maybe they don’t have enough money to buy now or intend to buy later when the need arises. One simple solution to reduce cart abandonment is to send a reminder email to users regarding what they left behind. Sending emails, mobile notifications, or text messages with the reduced or increased price of the items in the cart can do the trick.
Don’t underestimate the power of email marketing just because social media covers a huge space.
Email marketing is and will always be a crucial part of the sales campaign. According to the Radicati Group, “More than 34% of the worldwide population, that’s around 2.5 billion people, still use email.”
All you need is a modern approach. Promote your blogs, newsletters and upcoming products via emails. Spread awareness regarding clearance sales and discounts and announce rewards for loyal customers. Shar Music never forgets to send reminder emails to customers who abandoned their carts at the last minute.
5. Remind Users’ Wishes
Similar to adding products to the cart, users are also habitual to add items on the wishlist. A wishlist is an ecommerce feature allowing shoppers to save items to buy later. Wishlist signals customers’ interest in buying items but something is hindering them to buy – overpriced, money availability, and “not needed now” are the most common factors of why customers aren’t ready to purchase.
The problem with the wishlist is that users add items and forget about them. You have to remind them about their wishes that need to be fulfilled. Again, this is where email marketing, notifications or text messages help you approach users with a discount price on their favorite items.
ModCloth, an American Online Retailer, leverages the “WishList” feature for remarketing. The brand sends emails reminding users about their wishes that need to be fulfilled.
6. Remove Friction
Strategies are not always to blame when you get traffic but no conversion. Throughout the entire shopping journey, consumers take many steps and may face problems at any point which hinder their further progress. Be a user yourself and follow the whole process to ensure everything is working. Notify inconsistencies in even the tiniest of details like content fonts and product descriptions. Survey users and take their feedback to ensure flawless navigation.
7. Live Chat
Email and on-call support are always there. But it is the live support that users need the most. In spite of having all the details, they always linger around a few queries before they finally purchase.
American Marketing Association found that live chat helped B2B companies win a 20% increase in conversion. Another report by eMarketer says 35% more people made an online purchase after interacting with the person on live chat.
Email and on-call support are lazy tasks for users. Live chat, on the other side, helps them make a faster decision. Live chat increases the confidence in users that product support is easily accessible. Amazon is a great example, their ease of use and access to live chat further builds customer confidence.
Just because you are thriving in the ecommerce world doesn’t mean that all you should care about is promoting products. Content marketing plays a vital role in ecommerce as in any other business.
Content spreads awareness through which users gain knowledge regarding solutions to their problems and how a particular product helps them out. Stick to the content marketing program, no matter what. Make sure you create content as per the users’ demands. For e.g. today, you need articles, videos, images, and every form of content to reach all kinds of users.
9. Share Reviews
“A satisfied customer is the best business strategy of all” – Michael LeBoeuf
In this digital world, humans still believe humans. They judge products based on the ratings and reviews by others.
No wonder Amazon displays overall ratings at the top of the product. Amazon’s reviews are the mirror of what consumers think about the products. To collect reviews, Amazon even sends emails to past customers asking for their experience.
Start collecting as many reviews as you can to build trust with your new customers. Also, work on improving reviews and ratings as you go far.
10. Reward Loyalty
Loyal customers are gems for ecommerce merchants. Successful businesses work hard on strategies that bring back their lost customers even at the cost of offering big discounts. If you have a handful of loyal customers, it’s time to reward them for their loyalty. Send them offers on their favorite items or add money to their accounts for future purchases.