Whether you are just getting started in the online eCommerce market, or have already established your presence, the primary goal is increasing sales one way or the other. All of your product development, user acquisition, user engagement, loyalties, retention, and more would end at making conversions, i.e., sales.
In the online world, there are a number of ways to increase your sales, however, finding one that works will depend upon your business proposition.
More often than not, a simple approach to increasing sales works best. Develop an eCommerce strategy that is data-driven, monitors competition, and is flexible in execution, and let’s get started. Aim towards providing the best products, and align those offerings with a personalization enriched eCommerce shopping experience for your customer. Tailor your products to fulfill a need in the market, and sell them to people who are looking for those products. With enough data, you can cater specifically to the needs of your customers, and use personalized content to reinforce their buying decision.
1. Determine Your Sales Goal
If you have a ballpark of what percentages of increase in sales you are aiming for in the next month, quarter, semi-annually, or annually – you can create actionable plans to achieve that target. You need to set a realistic goal that aligns well with your resources and capacity to ensure you achieve it. Assign goals to strategies with a budget and try doing a test run to ensure if they can be properly executed, or be sustained in the longer run.
Defining revenue goals requires it to be thoroughly researched, and well-constructed. While you might want your revenue number to be substantial, it is all the more important to have a realistic baseline. Let’s say, your goal is to increase 10% sales by the end of next quarter, you would have to prepare a plan of how it can be achieved. This includes accounting for budget, marketing efforts, and channels, bi-weekly targets, special events, etc.
Perform a Market Research: See if there are possibilities for growth in the market, and develop a sales plan according to that need.
Create Customer Persona: Understand who your customers are, how they behave, what they are looking for, and where they are looking. Create a communication plan to market your products to the persona.
2. Aim for Clear Brand Messaging
It is important to create value for your product for your target audience. Your brand message has to be clear, focused, and relevant for the customer to understand details about the product. More importantly, your message should answer more questions and reinforce a purchasing decision. The message should be:
Descriptive: Ensures that the features and categories are mentioned.
Medium: If the customer prefers visuals, the message should be in the form of images. Similarly, videos, gifs, tutorials are all relevant.
Relevant: Should use the terminology currently popular with the customer.
Consistent: It should align with what the customer is looking for and the brand itself.
3. Highlight Your USP
It is beneficial to have a unique selling proposition to establish yourself as unique from your competitors. Your USP answers the question “Why should I buy this from them?” Make sure you have something different to offer.
Why Sell Your USP?
- Your USP will help you be the product rather than a product.
- Provide social proof of why your product is better.
- Provide additional information to support your USP.
- Use personalized Call to action to ensure relevancy.
4. Rely on AI Product Recommendation
For your business to increase sales, your recommendation system needs to be updated and relevant. Don’t showcase products that are no longer in stock, don’t show outdated stocks, or redundant products to your customer. Rely on personalization, and ensure your customers get email recommendations according to their profile, and product suggestions regarding their queries. The goal is to sell products people want to buy, and not sell products in inventory.
How eCommerce Product Recommendation Can Increase Sales:
Exposure: AI product recommendations ensure that your customers don’t leave empty-handed. By monitoring your customer’s needs, and profiling their requirements – your product recommendation makes its way to the customer.
Relevancy: Recommendations help unveil product discovery for your customers, so they see tailored and preferred products. Make sure your product is designed to fulfill the needs of the customer, and not just a picture with irrelevant information.
5. Deploy Chatbots to Support Sales Conversions
AI can help in many ways to increase your sales, leverage chatbots to generate leads, and encourage conversions. With chatbots, provide your customers with timely responses and accurate information to provide clarity of your product. Handle multiple conversations simultaneously, and understand what consumers are inquiring about your product.
- Chatbots are available 24 hours a day and 7 days a week, making them ideal for customer support.
- They understand multiple queries and provide instant responses in a matter of seconds.
- Chatbots are powered with machine learning capabilities, making them perform better with
Increase your sales by leveraging technology, and having a realistic plan. More importantly, don’t stick completely to your plan, optimize it on the go so you can perform better. Create a survey to elicit feedback from your customers and adjust your plan accordingly. Being flexible, adaptive, and realistic are necessary steps to achieving any target in the eCommerce sector.