This is the question that many people are asking … how can I increase my e-commerce sales? The question is simple, but the answer is a bit more complex because there are several ways to increase e-commerce sales. Most will tell you to change the wordings for your products, add more clear and visible Call-To-Action buttons, etc. These are all valid points, but you can get much better results if you direct your efforts more on substantial marketing tactics and less on the technical aspect of your website.
One of the ways is to give privilege to your existing customers. The probability to sell to an existing customer lies between 60-70% against 5-20% for a new customer. This becomes very interesting when you are aiming to accelerate e-commerce revenues. In case you haven’t had customers yet, go for acquisition campaigns.
Here are some ideas to maximize your e-commerce revenues.
Increase the average value of transactions
Add initiatives to increase the average value of transactions. If your average transaction value is usually between $35 and $ 50, offer a 10% discount if the transaction value exceeds $100. This way, you encourage your customers to increase the value of their shopping carts at relatively minimal cost. You’ll get a similar result if you offer contest-participation or a gift instead of the 10% discount. What type of campaign works best with your customers is something that remains to be tested.
Cross-selling and up-selling are interesting options to explore. When properly applied, they can suggest your customers the complementary products that will increase the value of transaction. If for example, you are selling loudspeaker cables, offer a package with connectors and an amplifier.
The important thing is to encourage the customer to buy more by rewarding him for his action.
Source : amazon.ca
Increase recurring purchases
We often forget that when many small purchases are combined, they return the same value as a more expensive purchase does. Encourage recurring purchases through point accumulation or VIP programs which contributes directly to increased e-commerce sales. Create a program that rewards your customers after 10 purchases and encourages them to buy more often from your site. Most of the giants in e-commerce or hospitality industry (for example, hotels.com) use this scheme to retain and increase recurring purchases on their platforms. A customer who is loyal and is rewarded for his/her recurring purchases will contribute directly to your sales and to consistency in sales.
Source : fr.hotels.com
Newsletter and promotional emails
Newsletters and promotional emails are essential when it comes to e-commerce sakes. They are a direct line of communication with your customers and allow you to communicate your initiatives (discounts, VIP program) and engage your subscribers. Moreover, they are not very expensive.
Set up a strict schedule of marketing campaigns via email which includes monthly/ weekly marketing initiatives and execute this. Communicate at least once a month, preferably twice a month. If this is not done, start a monthly newsletter to provide a more informational communication and graft there, one or more promotional messages.
Do not neglect the importance of festivals (St. Valentine’s Day, Boxing Day …) or events (NHL playoffs …) that allow you to extend campaigns, offers and interesting content to your customers which in turn helps to increase sales.
The more you communicate your offers, the more you will increase your chances of additional sales. This simply needs the right amount of everything and always take into account the interests of your customers.
Maximize the use of transactional emails
According to eMarketer, transactional emails get an average opening rate of 49.8% and a CTR of 9.8%. Wow!
What is a transactional email? These are emails that are sent a few minutes after a specific interaction takes place with a customer. For example, an email that is sent after a customer opens an account or makes a purchase. They come at a time where the recipient is very receptive and attentive. Therefore, these emails offer you a perfect opportunity to assert offers and initiatives mentioned in this article.
Examples of transactional emails:
- When opening an account to welcome and to inform about a promotion for new customers.
- After an online purchase to offer a complementary product.
- After the abandonment of a purchase process or online booking to reactivate the customer’s buying process.
- On the birthday of a customer, offering a surprise gift on purchase of a product.
- After a period of inactivity from a client, encouraging restarting and contributing towards making recurring purchases.
It is essential to communicate at times that matter in order to increase your e-commerce sales. Use these times to engage your customer and to assert your offers.
Follow these recommendations and implement them in your own business. You will see that your e-commerce sales will do very well in coming months.