Some businesses have ceased operation due to the public health issues that have plagued the first half of this year. However, now is the time to ramp your marketing up rather than slowing down.
Online shopping has been shattering records with its mid-pandemic peaks. A lot of people are stuck at home due to the viral risk that awaits them outside. This means that there are more consumers browsing eCommerce sites just waiting to get snatched up by your brand.
Without further ado, here are 14 strategies that will help you thrive!
#1 — Leverage Social Proof
Gaining the trust of potential buyers is both crucial and difficult. Consumers are getting smarter with every passing day, which is why you need to appear credible if you hope to stand a chance in competitive markets.
Verified reviews and testimonial rotators on the front page of your shop will show people that your product lives up to the hype. Many psychological studies have proven that consumers gravitate towards products that others view positively.
Offering discount coupons is a great way to encourage reviews and testimonials while also boosting the chance of a second purchase.
#2 — Flash Sales
Instilling a sense of urgency is key to keeping your conversion rate high. Flash sales can do just that by tapping into the FOMO response in site visitors. If you really want to take the urgency to the next level, then add a live countdown timer to the bottom of the screen.
This will constantly remind people that they only have a few hours left before they lose the opportunity to save money. It’ll also encourage them to share the flash sale on social media before time runs out.
#3 — Money-Back Guarantees
As we covered in the first tip, consumers aren’t as likely to blindly follow a brand’s promises nowadays. If you want customers to put their faith in you, then you need to show them that you have faith in your own product.
Offering a money-back guarantee exhibits confidence that your product does what it’s supposed to, has the quality needed for long-term use, and is well worth the monetary cost. Eliminating the element of risk will encourage hesitant consumers to take the leap.
#4 — Cross-Selling
There are some businesses that may see a drop in buyers due to turbulent times, such as pandemics. This is especially true for luxury items that may be both pricey and superfluous to everyday life.
In such situations, you need to make the most out of each buyer. Cross-selling relevant items can increase the average purchase size and thus keep revenue stable even if you don’t get as many unique customers as you used to.
Try to focus on your most popular items when cross-selling so you get the most out of the strategy.
#5 — Upselling
In the same vein of increasing the average purchase price and maximizing your yield from each customer, you should also consider upselling. The difference between the two may be difficult to spot, but a good metaphor will put things into perspective.
If someone buys a shave and you recommend shaving cream, that’s cross-selling. If you recommend an electric razor instead, then that’s upselling since you’re suggesting a pricier alternative. Using both in conjunction is the best approach to growing your revenue.
#6 — Streamlined Checkout
The last thing you want to deal with during turbulent times is a pile of abandoned carts. Streamlining the checkout process is the easiest way to bring your abandonment rates down. Minimize the number of clicks necessary to ensure people have a smooth exit.
Furthermore, don’t make people sign up just to buy something. Many people abandon their carts and go to a different shop when they find out that they need to sign up just to complete their purchase.
#7 — Diverse Payment Options
Speaking of smoothing out the customer experience, you should consider expanding your catalog of payment options. While credit cards cover the majority of purchases, you can never go wrong by offering more methods to choose from.
You should start with PayPal since it has millions of users. Online wallets or even cryptocurrencies can also offer additional opportunities. Whenever possible, try to make cash on delivery available to your buyers. More methods = a higher conversion rate.
#8 — High-Quality Product Images
If your shop has been struggling to get sales regularly due to the difficult period that humanity is currently faced with, you should step up your photography game. Having high-quality product photography will show the finer details of each product.
This goes far beyond resolution. Everything from lighting, editing, and what camera angle you’re using can play a role in the perceived quality of a product in the eyes of consumers. When in doubt, hire a professional.
There are countless freelancing websites out there that can help you find the best photographer within your budget constraints. Simply send a product over and have them take some buyer-worthy photos of it.
#9 — Giveaways
You could have the best conversion rate in the world, but you still wouldn’t break even on your operating costs if not enough traffic passes through the website. Offering free items is a surefire way to generate interest
Even relatively inexpensive items can bring a lot of buzz to your business. Don’t be afraid to give away some pricier products every now and then too as these types of promotions often go viral on social media — thus bringing in a lot of sales.
#10 — Influencers
No one wants an epidemic as it’s a net negative in most areas. Still, that doesn’t mean you can’t make lemonade out of the lemons that 2020 has thrown your way. If you want to capitalize on the billions of people browsing social media from their home, then you’ll need some influencers.
For better or for worse, our society is obsessed with celebrities and their over-the-top lifestyles. If you can get customers to associate your product with people of status, then you’re bound to see sustained growth in sales along with lucrative spikes every time the influencer posts.
#11 — Tiered Pricing and Decoy Products
It may seem counterintuitive to list products that you don’t expect to sell, but this strategy can actually work wonders by shifting the perceived value in your favor. Putting some overpriced decoy products will make the rest of the selection look affordable by comparison.
The anchoring effect should never be underestimated. Even restaurants put overpriced liquor on their menus. Similarly, offering slightly cheaper alternatives to your popular products could make the shop more accessible to untapped demographics.
#12 — Cover Benefits Not Features
Sprucing up your old product listings with fresh copy can also bring new sales in. There’s a lot of nuance to the art of copywriting, but the most important thing to bear in mind when advertising a product is that people want to hear about benefits, not features.
Don’t just focus on what it does, but what it does for them. Rather than saying a vacuum has powerful suction, say that the powerful suction will make cleaning quicker and less exhausting for the buyer.
#13 — Utilize Remarketing
During periods of sluggish sales, you may not have a lot of marketing funding to go around. This is a prime opportunity to take advantage of the lower costs of remarketing. It’s far cheaper to market to existing customers than to try and acquire new ones.
Their repeat purchases will bring in fresh revenue that you can put towards even more marketing, creating a positive feedback loop of profit. When trying to raise your sales figures with minimal financial investment, remarketing is the optimal route.
#14 — Work On Yourself
You might think that taking time off is the last thing you should do when your business is struggling to grow its sales. However, as Winnie the Pooh so eloquently put it, “doing nothing often leads to the very best something.”
You’ll likely find that, after getting some rest, new ideas will come to you that can help turn things around. You should also consider working out in your free time to prevent heart disease and keep burnout at bay.
As you can see, there are countless ways to reverse your fortune and get growth back on track. All it takes is creativity, dedication, and the right strategy. If you continue to consistently work on yourself and your business, then you’re bound to succeed.
Remember, selling is a marathon, not a sprint. Aim for sustained efforts rather than sporadic bursts. Be patient as you climb to the top. Neither Apple nor Amazon were built overnight, but you’ll get there if you have the heart to keep going.
That’s all for now. Stay safe and go thrive!
Author: Olga Mykhoparkina
Olga Mykhoparkina is a Chief Marketing Officer at Better Proposals, an easy-to-use proposal software that helps send professional proposals in minutes instead of hours. She’s a SaaS enthusiast with an entrepreneurial mindset, a deep SEM expertise, and 10+ years of experience in digital marketing. Having written for 50+ top tier publications, she believes that epic content is King, Queen, and all the Aces in marketing