You may have observed that your conversion rates suffer and your overall sales have reached a dead end. Alarming as it may seem, it doesn’t mean that anything out of ordinary happens – you may just be experiencing a routine sales dip. But don’t let the decline take complete control of your bottom line. Here are 7 ideas for you and your staff that will improve the ongoing sales slump. Let’s get started!
1. Send a newsletter
Emails are one of the oldest but the most effective marketing tools across the internet. They cost nothing, are relatively easy to use, and contribute massively to higher conversion rates in your store. If you haven’t implemented them into your sales strategy yet, you should get serious about building your email list. Keep in mind to send regular updates only to users who subscribed to your newsletter.
– Don’t send overly salesy messages to your clients. Instead, educate them with a bunch of tips and tricks relevant to your business.
– Over the week test the optimal number of emails that convert well.
– Find out the time when your emails get the highest opening rates.
2. Cross-sell and up-sell
Cross-selling is a marketing strategy whereby the client is presented with items complementary to the product he or she has already purchased. Up-selling, on the other hand, is a tactic that channels the customer’s attention into more expensive products or upgrades. Usually, the up-sold item is priced higher than the product in which the client is currently interested. Research shows that up-selling accounts for about 4% of total online sales. A proper implementation of this strategy can result in 10 to 30% revenue spike.
– Watch how your clients behave on your website, e.g. what kind of products they add to the cart.
– Observe how your competitors cross-sell and up-sell.
If your market position is strong and online visitors abound, your store could be a great place to promote other brands. In exchange for a website adapted to the specific brand in terms of the layout, you can charge the manufacturer a fee. Note that the website would exclusively contain products of a particular manufacturer or developer. This marketing strategy requires you to make arrangements with the party to whom you want to propose such business model.
4. Bonuses for recommendation
Customer acquisition is an obvious way to increase sales. You can treat your existing clients to bonuses in exchange for a positive word of mouth. Remember that two-thirds of them decide to buy a product under the influence of their social circle. Why? Because there is no better recommendation than from the people we trust. In addition to this, give your clients rewards for referrals, for instance, a 5% discount if they provide you with an email to his or her friend.
5. Analyze abandoned carts
Both research and business practice indicate that as much as 70% of users who visit an online store add products to their cart without finishing the transaction. At first, they seem to be interested in making a purchase but, for some reason, they quit at the checkout stage. What’s the reason behind this? Being in a rush or feeling discomfort about the price may be possible reasons. Always follow up them to remind of the purchase. Also luring them back with an extra incentive of 5%-10% off for a future purchase may be a good idea.
6. Come up with unique product content
If your product descriptions are similar to your competitors’, then no wonder customers are slow to buy. Unique product descriptions and visually appealing videos are something that may draw them back. In fact, unique product content can boost your sales roughly by 20%.
7. Extend the range of digital products
The greater product range you offer, the more likelihood that shopping carts are full. At the same time, complementing your assortment with new products may come across as a costly venture. But it doesn’t have to be this way. Quite the opposite, it’s completely free if you automate product sourcing with CodesWholesale.com. This way, you can start selling digital games quickly with a minimal investment.
As you can see, there are multiple ways to maximize sales in your online store. Each idea, whether used alone or combined with others, brings a whole set of opportunities. More than anything else, boosting sales of your online store should be the focal point of your marketing efforts – the more clients you get, the more money lands in your pocket.
About the author
- Gamer and marketer. Knows how to sell video games. B2B e-commerce educator.