Gone are the days when visiting the usual ‘brick and mortar’ store was one of the many necessities of life. Thanks to the various e-commerce websites from where you an practically buy anything, shopping is mere a task of few minutes from the comforts of the couch of your living room. All you need is a laptop or smart phone and the Internet connection and you are good to go. The world has witnessed a revolution in the past five years in terms of online shopping and everyday, there is a launch of new e-commerce website with new and enhanced features that is making the job of the marketing teams of such businesses a real pain.
Open your inbox and you would find countless discounts and deals practically over anything. For us, it is a mere mail, but for the e-commerce teams, it is a whole task in itself. It takes hours of brainstorming to decide the items that should go down and how to promote the sales or the upcoming discount season. For these e-commerce websites, sales promotions are vital to attract the customers and achieve the yearly targets.
According to a recent survey, approximately 50% of the consumers shop only when there is any kind of discounts. In other words, the consumers are looking for a better deal from your side to choose you over others. Quoting the words of content marketing manager of ThriveHive, Emil Weisberg, “Sales promotions can give you the edge you’re looking for when it comes to revenue. Successful companies know that sales promotions are among the most effective methods of increasing sales and building customer satisfaction.” And that is why it is important to take a strategic approach while promoting your sales and discounts. We have talked to several e-commerce marketing experts about this and are presenting to you the top five tips that would help you in the same. So, let us go through them one by one.
1. Opt for Specific Incentives
Before anything else, you have to understand the fact that sales and promotions aren’t static, rather quiet dynamic. They can easily take various shapes and forms and you can mold them according to your own business needs. Shape the incentives that you are offering to the customers in such a way that they would fit the needs of your consumers. For this, you can take the assistance of customer analytics. Go through the previous purchase history of the consumers and it would help you to find out which promotions yielded the maximum results. Various social media comments from the consumers can also help to test the winds. Now, fit the findings with the promotional incentive. Go for mystery discounts to bundle sales or purchase based donations. According to a recent online survey, 56% e-commerce businesses agree to the fact that flash sale campaigns received better responses than the others. Make such flash sales success by limiting the time period.
2. Include a Purpose with Cross Sale
It is not necessary that every sale or discounts is about the signature or primary product. Rather than making these products your sole target, keep the secondary products associated with the main one in the limelight. It is known as cross selling. Cross selling is a wonderful opportunity to provide your customers the real worth. Ask any customer and they would gladly tell you that they love the convenience of shopping of various products from the same place and at the same time. This removes the hassle of surfing numerous online shopping websites.
For this, you have to strategically align the products together that complement each other. In this way, you are giving your customers a chance to buy all the things that need from your place. For example, if you deal in women clothes, then you can provide sale or discounts on the various other accessories such as scarves, handbags, watches etc. According to a research, the option of cross selling on the checkout page yields better results. Don’t forget to add images of the products with each other.
3. Go for Micro Targeting
For individuals who are in the field of marketing for a long time know that micro-targeting isn’t something new or a fad of the 21st century. Though you might know the concept, there are good chances that you are not putting this technique into implementation. When you segment your audience, it gives you the perfect opportunity to target the right segment with the right promotions. Whenever such customization is done, it has a personalized effect on the consumers and gives better results as compared to the other strategies. It shows the consumers that you are aware of their needs and are present there to take care of them. For micro-targeting, you need to analyze the customer data that you have. Look for the buying patterns and how they are affected by the geographical location, income levels, age, gender and other aspects. According to one study, 51% of marketers believe that the gap in the data sharing in the organization is one of the major issues in micro-targeting. To avoid this issue, go for an open dialogue box that can collect all the possible form of data through all the departments.
4. Hyper Engagement
We are living in the era of hyper engagement. Whenever you are launching any discount sales, take the help of social media and various email campaigns to let your customers know about the same. This would get people interested in your sales event. Now, let’s address an important question: why social media? Well, an average Facebook user spends at least 50 minutes to one hour on the different platforms associate with it and it is the perfect chance to grab their attention.
Work with the associated team and promote your discounts on the social pages. Be one step ahead than your competitors by taking the help of industry experts to spread the word about your incentives. Another way of bringing in more customers is UGC or user generated content. Whenever a user is happy to use your product, ask them to leave a genuine feedback. This helps in the conversion of the hesitated buyer. Ensure that you are using email marketing to its full potential.
5. Give Priority to Customer Loyalty
Fun fact: the regular customers spend 67% more than the customers who are visiting your e-commerce website for the first time. Well, this clearly highlights the fact that customer loyalty is a privilege and you need to celebrate and pamper your loyal customers. For such special customers, a chance to explore the value and culture of your brand is necessary. Enroll them in various reward programs and give them a free subscription to your newsletter. To retain them and avoid brand switching, you need to personalize your promotions when it comes to this category of customers. Earn their loyalty by making them a part of your business family.
With that being said, for such kind of sales event, a lot of planning is required as it requires numerous decision making that needs the time of several weeks. This is something crucial as you are looking forward to spike your sales and retain the customers as well. Go for or formulate such sales incentives that would win the heart of your customers and would attract them. Think beyond the general promotions by cross selling and focusing on the special category of loyal customers. In the end, start preparing today to upgrade the plan of your next sales promotion.