The season of festivals and holidays is here once again. This is the time when shoppers’ world over go on a shopping spree. Online shopping trends show that a well planned sales and marketing strategy for the holiday season (October to January) can bring in more sales for online business owners than the rest of the year put together.
So, have you planned your promotions for the most rewarding period of online sales? Lined up the inventory and carefully calculated your discounts and profit margins? Designed different sales offer and clear about what to offer, when to offer and how much to offer? Already factored in the latest trends of Indian e-commerce festive sales while planning your promotions?
With all preparations done you are all set to seize the opportunity? Confident you are going to make a kill this time?
Time for reality check!You are not alone in the race. Your competitors in the eCommerce arena have also got a few tricks up their sleeves and will try their best to beat you. So how do you plan your promotions to gain an edge over them and make your promotions more attractive for your customers?
Forgot to factor in this aspect!
But no need to panic as the team of experts at StoreHippo has already done the homework on your behalf. We bring for you 5 tips to sales of your online store that will help you make the most of the moment.
Keep reading to plan your webstore’s best promotional event ever:
1. Fine tune your online web store and related servicesTo start from the start, even before delving into the details of your offers, you need to check that your website and all its related services are well aligned and ready to take the additional load of traffic, conversions and deliveries. Also plan your deals to get more returning traffic to your website. Run a thorough check on following points:
- Ensure there are no broken links on your online retail store
- Work on improving your site speed to convert better
- Keep your order process simple and easy
- Reduce abandoned carts with automated follow ups
- Keep your shipping partners streamlined to handle the extra load or faster deliveries
- Plan exclusive deals with payment partners to entice your customers to buy more
- Offer payback points or coupons to encourage repeat sales
- Prime your support channel to be available 24x7 to assist your customers
2. Choose the appropriate time for saleTiming is crucial for the success of festive season sale. If your sales begin too early you might not sell enough products and if you start your promotions a bit late you might lose your traffic to your competitors.
Hence, careful consideration based on your industry vertical and customer behavior patterns are essential to time your promotions correctly. Research shows that majority of online buyers want to avoid the last moment rush and order at least a month in advance. Also consider whether your products are fall in “impulse buying” or “planned buying” category.
Offer affordable pricing and start your online web store’s big ticket products promotions a bit earlier to tap in majority of your customers who have already planned to buy it. For impulse buying small budget products you can begin the promotions later and bank on the festive mood when customers indulge in retail therapy.
3. Gear up for mobile channel salesThere is simply no way you can deny the fact that mobile commerce is the way to future. The tech savvy modern buyer has access to internet on the go and prefers the ease of shopping on mobile devices. During the latest holiday sales the leading online multi-seller marketplaces like Amazon, Snapdeal, Flipkart reported getting up to 80% of their sales from the mobile channel.
If you want to stay ahead in the race and want to have a smashing sales event, you should equip your webstore to handle the traffic from mobile channel. While planning your marketing ads offer special deals for your mobile channel and apps to multiply your sales many times.
4. Be ready to handle returned ordersStatistics suggest that on an average 30-50% of customers in India return their orders due to a number of factors and delayed delivery is one of the biggest reasons for this. With improved logistics solution for ecommerce you can reduce a high percentage of returned order.
However, wrong delivery (size, color, quality of product not up to customer requirement) also constitutes a high volume of returned orders. Be ready to handle such scenarios and turn these into up sell opportunities if the customer is not ready to accept a replacement. Have a well thought list of offers for such customers and keep your customer support team primed on the ways to convert such opportunities.
5. Capitalize the post-sale trafficIt might sound surprising but a lot of buyers prefer to go for online shopping after the peak holiday season. This usually happens if you have offered payback points or deferred discount coupons.
Analyze the shopping trends of your website and roll out Phase-II of your promotional event. This not only helps you in getting additional sales but also helps you clear the inventory of the previous sale.
Conclusion:Use these expert tips to get ahead on your store’s festive season sale planning and break all your previous records. Chart out a plan using common sense, research and information about your customers to come up with a foolproof promotional event.
Let us know how these tips helped you in getting the best out of this holiday season. Want to add some tips to the above list? Leave a comment below and we would publish your insights in our next article.