eCommerce Trends 7 Ways to Keep Momentum
Retail market is evolving, charging businesses that are set to leave landmark achievements map strategies to help them row with the tide. Ecommerce has enjoyed tremendous boost over time, with projections for a few years to come looking pretty. As more stores close down (6,700 in US alone), we record increase online store presence and thus keeping sales momentum can be a chore as ecommerce is. According to Entrepreneur it is one of difficult businesses to scale. In any case, we have highlighted some ways to help revitalize your drive and lace every self-defeating thought.
Sell What You Are Passionate about
If you don't feel good about your products, you will have a hard time convincing prospects to buy same. It is also important that every one of your team show passion and commitment to these brands. Chances are you will be dealing with these for a very long period of time, pitching them against well a prepared audience and competitors; hence, you must put your best foot forward.
Customers are the backbone of businesses and pursuing customer loyalty is one of the most important steps you will need to take in a bid to drive sales. According to Lee Resources, winning a new customer is 5 times costlier than keeping existing ones.
Earning the loyalty of customers may cost few bucks as well but brings with it far-reaching benefits in time. Imbibe the following methods to shore up sales and keep visitors coming back.
- Create a brand buyers can regard as reliable, consistent and approachable.
- Be steps ahead of your customers
- Gift something extra. Once a while, your newsletters must come bearing gift.
- Have a knack for spotting consumers need.
- Fix the customer, not just the customer's problem
- Integrate modules to automate and understand your customer loyalty system.
- SILYMI – Say It like You Mean It. Conversations and thank you must come across as really personal.
Free / Same Day Delivery
Are buyers willing to spend more to reach free delivery threshold? The answer is yes. Study shows that 60% of customers will add items to cart just to benefit from free shipping. Also considering a PayPal report that 43% of buyers abandon cart as a result of high shipping cost, time has come for merchants to rethink shipping options. In the psyche of buyers, it's feels refreshing to have someone bring you orders while you wait with your legs and arms crossed.
And as technology and ecommerce put the world in our fingertips, helping us go beyond borders, it stimulates a new urge – instant delivery.
Consumers are demanding ever more convenience when they buy online, particularly where delivery is concerned. They want to have multiple delivery options to choose from, and to receive their products as fast as possible. Once consumers have experienced a superior service level, they are usually reluctant to return to the previous inferior level. -McKinsey
Choose a Friendly Cart
Having a store you can easily navigate on the move, both as visitors and admin is the ultimate experience. If customers find it a tad difficult to order products, they will leave your store without finalizing purchase. This can be pretty frustrating. With global cart abandonment rate put at 78%, experts say merchant could lose $3 billion dollar a year to this alone, also predicting this has the tendency to get worse with time. Why some of these were linked to slow website, price, long checkout procedure, unclear return policies and all, there are steps to ensure your store will not account for most of the negative indices that will make the stats.
· Have a simple sign up and secure one-page checkout system
· Choose a cart with a mobile friendly interface, easily customizable to meet trend.
· Opt for service providers with 24/7 real-time support. You definitely need this.
· Your cart must boost your SEO and up your search ranking.
It is common knowledge that keeping inventory moving, gaining new buyers and ensuring satisfaction of existing customers in online market can be quite laborious. An easy method to achieve all 3 objectives is by adopting product bundling. Customers often want to experience economies of scale when they shop, and when you provide the sensation of having complete satisfaction in one purchase you build a certain followership. It helps you upsell your inventory and, as explained by Huff Post, boosts your average cart value. Merchants must take advantage of seasons to bundle products.
87% of customers say pricing was the major factor they consider when buying a product. As laborious as it sounds, you must know what your competitors are offering to pitch yours. Discount at first might seem unprofitable for your ecommerce business. But this strategy, if employed appropriately and intelligently, is a powerful way to keep sales momentum. Here are few of the most widely used discount strategies:
· Offer coupons/promo codes to first time shoppers.
· Use promo codes to get users sign up for personalized newsletters
· Always slash discounted prices in checkout to help get a feel of earning more.
· Segment shoppers and tailor offers accordingly
· Perfect the art of right timing and margin.
· Use conditional discount to drive loyalty program.
Encourage product reviews. Notably, 6 out of every 10 buyer read online review before deciding to order a product, with 90% adding that an online review is more important than any upselling from sales professional. New customers are attracted to businesses that have gained credibility. It connects like-minded customers on your store and provides new method of filtering (or sorting) products by ratings. Good reviews will run free and easy advertising for your products.
Operating your eCommerce business with some of the highlighed will surely boost your vibe and keep you fluid.When this is achieved this, don't fail to have a hassle free return policy that works. If you don't, a whooping 8 out of 10 buyers will dump your store.