So, you’re starting up your business in the world of e-commerce. Maybe you’ve established it somewhat recently and just need the extra push to put it on the map. Maybe you’ve even got it all figured out but have hit a bit of stagnation as of late. Whatever the case, there’s always a need to improve and make more revenue for your business.
More sales doesn’t hurt, and sometimes you have to give something away to get people really coming to your site. Here’s 5 ways you can pick up some customers without really doing much:
#1 – Set up a loyalty scheme
You probably already have some level of a customer base to focus on. If so, making sure your products and campaigns are catered to is very important on keeping an audience, never mind expanding one.
Research done into the customer base who stayed for the purchase throughout its entirety showed that regular customers added more items to the cart, had higher conversions rates and generated more revenue with each visit.
Focusing on the customers already familiar with your business should come before gaining new followers. You should make them feel important by offering rewards for long-time customers, such as annual discounts or perhaps a general VIP system for them.
#2 – Try free shipping
Nobody likes to look at the price of an item only to then have to factor in the extra of shipping. That said, it’s obvious that taking out shipping costs would make a business all the more appealing to customers. In fact, a study by Walker Sands in the U.S. found that 80% of respondents would view free shipping as the main factor in whether or not they’d make the purchase.
Once more when talking about e-commerce, we must use Amazon as an example. Their Amazon Prime subscription offers free shipping as part of the subscription, leading to the service constantly gaining popularity.
But how do you go about this and still make a profit? That can be difficult, but there are a few methods as the key to it is to work it into your price margin. Making sure to consider how your products, customers and profits tie into each other will help you come up with a good system. A minimum spend for delivery saves you a lot of money but also entices customers, depending on product. If you don’t mind putting time into this, having a service like Amazon Prime would also be a huge reward for returning customers.
Overall, the key to sales is making the customer believe they’re getting the best value. Giving away something every now and again keeps customers happy, and happy customers are more likely to buy.
#3 – Give out a discount
A study conducted at Claremont University based on how the human brain reacts to discounts and vouchers yielded some surprising results. The full report is available here, but the participants that were given a $10 gift voucher for free while shopping online saw a 38% increase in oxytocin, and an 11% rise in their happiness on average.
This is a more dramatic change in mood than receiving a gift, which is pretty unbelievable. It proves that customers will always be looking for the best deals, or hanging around waiting for Black Friday or the Boxing Day sales. This proves that if you want to get more people on your store, the best option is to have a sale!
Another option is adding a discount for purchases above a certain amount, with 20% being a good baseline. This engages people to buy more than one item, and the profit margins have space to build up, even if you’re selling for less.
Of course, you must also take into account what your target audience wants and cater gifts around them, because the right offer goes a long way. A money off code is preferred for luxury items as it stops you from losing too much money, and a percentage-based discount code is better for cheaper items, as it’ll entice people to buy multiple items at once.
#4 – Prompt customers to review
93% of customers find user-generated content (UGC) to help them in deciding on a purchase according to research conducted by Adweek. Despite this, only 16% of companies bother to produce UGC.
If there’s one type of person you can trust on to advertise your product, it’s a loyal customer. In the digital age, social media and reviews are the first point of action for people looking to buy a product. You can use this to your advantage by building up a group of happy customers interacting with your page.
Gathering feedback is easiest to do immediately after your customer has made a purchase, so adding a section asking for a customer’s response is best to place either immediately after the checkout or through an automated email. Going back to vouchers, offering one as a reward for a customer response may be a good gift to a customer in exchange for their thoughts.
#5 – Add as many payment options as you can
Nowadays, customers love having options. Card, eCheque, PayPal, and even newer methods like Klarna’s “Slice It” and “Pay Later” are getting requested from online shops more and more. Every payment method you don’t accept cuts out potential buyers, so being sure you can accept as many as possible is a good idea.
Following all these steps, you should start seeing a change in your business. Maybe you’ll see an increase in customers or sales as soon as you implement them. Maybe it will take time. In any case, your business will improve, and you’ll be on the right track to making it great.
Have you started your e-commerce store yet?
If you’re currently only researching e-commerce for a store you’ve not yet opened, we can help! We can turn your store into an online store using Sage Pay. After filling out a short quote request, we can integrate your company over to Sage, install fraud prevention measures and screening tools, and provide you with analytical tools to see your company’s growth first-hand. As well as this, we can provide 24/7 support, just in case anything goes wrong.
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