As an online store owner, what is your most sought after goal?
“Increased sales on my webstore.”
Prompt came the answer from nine out of ten store-owners on StoreHippo advanced e commerce platform.
Making your existing customers buy more from your online store needs a carefully calculated marketing and sales strategy. You need to prime and polish your offers to make them appear psychologically more rewarding to your customers.
So, how can you entice your customers to buy often and purchase bigger order sizes? How can you turn slack periods into opportunities to boost your online ecommerce store’s sales? How can you device a marketing campaign that incentivizes your customers and tempts them to order immediately?
We already discussed that creating urgency makes your target audience act immediately. Time limited offers which create a sense of scarcity are one of the best marketing techniques to make your customers respond.
Related Read: 5 eCommerce best practices to create the most amazing online store
Let us look at some of the most effective ways to create marketing campaigns that are profit- boosting and never fail to garner good response from online shoppers;
1) Deal of the DayOffering “Deal of the Day” on limited products for a limited time period has become one of the most used ecommerce marketing policy for online businesses. Also known as, Flash Sales, these types of deals are most clickable and have the best conversion rate.
You can create a page exclusively to promote a fresh deal each day. Restricting your deal for a limited time (a day or few hours) psychologically attunes your target audience to buy during the given time frame.
2) Time Specific Free ShippingThere is something about the word “FREE” which instantly glues humans to read the offer in detail. We all love to receive something for free and hence offering FREE SHIPPING has been a favorite marketing policy for many online sellers.
Pack a punch to your free shipping offer by making it time limited. Create your ecommerce marketing strategy around free shipping on orders beyond a certain threshold value. This would help you get bigger order within a short time frame. If you use this strategy frequently, you can also pre-negotiate some deals with your logistics partners for the period when you are expecting bigger orders.
Related Read: 5 things to research thoroughly while preparing your ecommerce business plan
This offer can be enhanced further by offering same day delivery for free. Just remember to add a time frame to make your audience act on it immediately.
3) Limited Stock OffersWe have seen umpteen real life examples where a news of shortage of certain product creates a beeline for the purchase of that commodity. Similarly, online stores can use stock shortage as a profitable selling technique.
Online selling websites can create an illusion of stock shortage which makes their customers perceive the commodity as dearer and hence more rewarding to purchase. You can use one of the following methods to achieve this
- Show the stock quantity for a product, keep the numbers in single digit, preferably odd number
- Show the reducing counter of product quantity, e.g. “only 3 left, buy now”.
- Show Limited edition products, it in itself implies the stock is not going to last long
- Show the product is flying off the shelf rapidly by displaying “This product is added to 2 other shopping carts right now.”
ConclusionCreating urgency and scarcity is undoubtedly one the most powerful marketing tools to increase your sales. However, when you use it to sell products online plan your sales in accordance with your overall supply and delivery chain. Do not create a scenario where you are unable to timely deliver the orders that you receive during the sales. Use scarcity wisely and you would certainly see an increase in your sales volume.
StoreHippo, the advanced e commerce platform aims to help you in planning and running a successful online business and we would be publishing more articles to help you understand your audience and their buying behavior.
Keep reading our blog section and leave comments below if you need specific tips on any topic.