As an online store owner, what is your most sought after goal?
“Conversions and more conversions!”
And how do we achieve this?
Simply by making our customers buy more often! But is this as simple as it sounds?
We know for a fact that you need to prime and polish your offers constantly to make them appear psychologically more rewarding to your customers. If the marketing and sales strategy of your ecommerce website is not planned with due diligence and after careful calculations, you might end up burning your profits despite getting higher conversions.
Also, we know for a fact that making your old customers buy more is less costly than acquiring new customers for your store. However, whether it is the loyal customers or the new one you certainly need a well-planned marketing strategy to keep getting regular conversions throughout the year.
How To Get More Conversions On Your Ecommerce Website During The Slack-Season
Well, no business can keep getting the same volume of sales throughout the season( unless you are selling daily necessities, but there too you have peak seasons). 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 sales? How can you devise a marketing campaign that incentivizes your customers and tempts them to order immediately?
We already discussed that creating urgency (link to 5 marketing tips to create killer ad campaigns ) 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. Also, they help you get rid of old inventory and make space for the in-season fresh stock on your ecommerce website.
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 Day
Offering “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 on your ecommerce website. Restricting your deal for a limited time (a day or few hours) psychologically attunes your target audience to buy during the given time frame.
How To Implement
To implement a successful flash sale or limited period offer you need to do the following;
- Create a variety of single-use coupons with end dates
- Offer specific discount codes on products, categories or order volume
- Give an additional early-bird discount to a limited number of buyers
- Offer assured gifts on certain order volume for a limited period
- Announce price increase after a specific date
- Offer personalized discounts on abandoned cart items
These are some time tested marketing trick to boost sales during any season. However, to implement these you need an ecommerce platform that offers a powerful discount engine. After all, you cannot plan a variety of discount and promotions easily if you do not have a robust tool that helps you implement these changes one after the another without wasting time on the technical aspects.
StoreHippo offers an inbuilt discount engine which can be used to prepare a comprehensive marketing plan. The intuitive admin dashboard of StoreHippo Ecommerce platform makes it easy to set a variety of discounts and limited period offers within minutes. The whole idea is to make it easy for business owners’ to plan and execute their marketing strategy, analyze the results and change the marketing mix to get maximum ROI and higher conversions even during the slack-sale periods.
2)Time Specific Free Shipping
There is something about the word “FREE” which instantly glues humans to explore the offer in detail. 9 out of 10 customers say that free shipping is one of the top incentives to buy from an ecommerce website. Also, 93% of online customers buy more if they get a free shipping offer.
No wonder FREE SHIPPING has been a favourite marketing policy of the online sellers. To make it even better and to pack a punch to this offer it can be made time-limited. Let us see some common ways to make this work for your business.
How To Implement
- Offer Free shipping on orders beyond a certain threshold value
- Get more orders by advertising limited period free shipping
- Offer free shipping during slack hours like orders placed early in the morning or before 12 a.m.
- Offer free shipping on certain products, categories or merchants
- Upsell products by offering free shipping on buying additional products
- Offer geo-location specific free shipping on your ecommerce website
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. A combination of these offers would help you get a bigger order within a short time frame. If you use this strategy frequently, you can ensure frequent conversion whatever be the season.
However, a word of caution here, this strategy can boomerang if you do not have a streamlined supply chain in place for your ecommerce website.
To make Your FREE shipping a success you need to collaborate with trusted ecommerce logistics partners that can handle peak season load. Also, you should have multiple shipping partners to improvise and optimize your delivery time and costs. An easy solution to this problem is offered by StoreHippo ecommerce platform in form of ShipKaro, the shipping aggregator service.
With Shipkaro you can use multiple shipping partners without paying any upfront cost of integrating with them. Automated and discounted services of ShipKaro allow merchants to offer FREE shipping without compromising on their profit margins.
3) Limited Stock Offers
We have seen umpteen real-life examples where 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.
An ecommerce website can create an illusion of stock shortage which makes their customers perceive the commodity as dearer and hence more rewarding to purchase. The fear of missing out a good offer gently pushes the buyers towards a purchase.
How To Implement
You can use one of the following methods to achieve this:
- Show the reducing stock quantity for a product e.g. “only 3 left, buy now”.
- Show Limited edition products, it in itself implies the stock is not going to last long
- Offer bestselling products with a low stock warning on the product page
- Create dynamic marketing page advertising your catalogue of low stock products
- Create mailers around low stock products to keep customers informed
Using StoreHippo flexible ecommerce platform you can easily implement these marketing tricks to urge your customers to complete their checkout quickly. The inbuilt “out of stock” and “wishlist” features can help you implement this marketing trick without much ado. Also, you can create dynamic marketing pages in no time and promote this page among your customers by sending mailers with a link to the page.
Creating urgency and scarcity is undoubtedly one of the most powerful marketing tools to increase your sales. However, when you use it on your ecommerce website 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 next-generation 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 behaviour.
Keep reading our blog section and leave comments below if you need specific tips on any topic.