Having a great website sometimes isn’t enough. In a sea of strong competitors, maximizing your sales is not only important, it is vital to the success of your business. However, completing this endeavor is no easy task. To avoid being lumped in with the many businesses that have failed when transitioning into the realm of eCommerce, consider a few crucial techniques that can potentially boost sales and engender a successful culture around your online company.
One of the most effective strategies for online marketing is email promotion. By having a roster of customers who wish to receive deals and information, your business can rely on these sales that would otherwise be left to chance and random viewers. However, getting the attention of these individuals is not easy. Many online stores or retailers offer email only discounts in exchange for the ability to communicate directly with these customers. By promoting your email service on the main page of your website, casual browsing customers may be enticed to join and view your deals. Be aware that some services sell massive directories of email addresses that can help expedite the process, but these listings may have mixed results due to the questionable nature of the process.
If you are more focused on sales that occur on-site, product bundling may be the right answer. By bundling select goods and items, consumers are more likely to make a purchase under certain circumstances. First, the concept of a good deal can be an exceptionally strong motivating factor for a sale. If a customer thinks a bundled deal is far superior to buying the items separately, that could be the difference between closing the browser and grabbing the credit card. The reduced cost is also a strong motivator in the purchasing process. Some individuals may simply not be able to afford the cost of each piece of the package, so a bundle is the only viable route.
Similar to email promotions, an exclusive customer club is a strong tool to promote sales. Regardless of whether you opt for a free or paid membership, the premise of this sales strategy remains the same. Behind a gated membership service, customers will have special deals, pricing, and promotions made available to them. Depending on your business, this could result in substantially increased sales. Promoting volume in sales is usually a key point in the club system, as members often feel that more purchases validate whatever expense was required to join the club.
Be careful about committing to an exclusive or gated customer club. Often, certain expenses will be associated with running a successful implementation of this concept. If your projected sales and membership fees are not enough to cover these costs, you may be doing your online business more harm than good. Additionally, the more expensive your club is to join, the more likely consumers are to expect extra offerings and promotions outside of reduced pricing. Having a jaded or dissatisfied club base could spell disaster for even the most profitable eCommerce outlets.
Another simple tool is the concept of buy one, get one free, otherwise known as BOGO. Like the name suggests, if a customer purchases one product, they get the next one of the same make and quality free. For pairings and multiple purchase products and items, volume can also be promoted by this technique. Considering the wholesale cost of some products, improving volume is definitely necessary in many circumstances. Be wary of entering into a BOGO deal if you have skipped over crunching the numbers on breakeven points and profit margins.