Various restrictions regarding pandemic that have been present for more than a year created a new reality where millions of people who previously preferred to shopping offline only are now used to an online shopping.
The pandemic, of course, will end, but the new consumer habits will remain. Experts have a common opinion that online sales will increase even more. Therefore, developing and optimizing your own online store is now more relevant than ever.
There are many tricks to squeeze the maximum profit from your online store.
1) Select bestselling items the first
In site search results, sort by default from bestselling to least popular. Practice shows that customers like and follow trends.
2) Show the product in use
Many online stores neglect the opportunity to liven up their assortment by demonstrating products in the process of use. This technique will help customers to visualize products and boost your sales.
3) List new products with the most popular ones
If you have new products that you want to “promote”, place them next to the “hits” of sales. On the one hand, it will draw users' attention to them. On the other hand, the halo effect will work, buyers will consider these products to be of higher quality.
4) Use comparison plugins
It will be more convenient for the buyer to see a comparison between chosen products then to browse between open tabs. The compare function in the online store makes this task easy. This is especially true for the sale of technically complex goods via the Internet - household appliances, means of transport, tools, etc.
5) Work on upsells
Many products can be matched with related products and services. First, the buyer needs them. Secondly, they will see their cost in comparison with the main product low, thanks to the principle of contrast. Third, it promotes the sale of small items over the Internet that would be unprofitable to sell individually (since shipping would be more expensive than products).
6) Use loyalty programs: a cumulative system of discounts, points, create a virtual client VIP-club. Such strategies are often effective because they appeal to several psychological triggers: greed; to the sequence principle; and vanity.
If you cannot fully fulfill the client's needs (for example, the desired product is not in stock), compensate it for the inconvenience. For example, you can offer an additional discount. Practice shows that buyers appreciate it when a company admits its mistakes and strives to correct them. If there was a misunderstanding with the buyer, but the company solved his problem promptly and even provided a pleasant bonus, there is every chance not only to avoid negative reviews, but also to get a loyal customer.
8) Work on selling product descriptions
Many people still avoid working with product descriptions. According to statistics, 36% of buyers want to see a detailed description of the product. And 50% of buyers are interested in detailed information about the composition and manufacturer.
9) Demonstrate product benefits
The strong characteristics of a product sometimes need to be expressed not only in words but also visually. Show the product from different angles. A tangible disadvantage of online sales in comparison with offline shopping is the impossibility to see the product "live", touch it, and look from different angles. You can compensate it by posting photos from different sides.
By applying the strategies outlined in this article, you can improve the performance of your online store. It is also important to understand that in order to bring a stable profit, you must apply a systematic approach.
Do you sell online? What techniques are the most working for you? Share your opinion in the comments below! I would be happy to answer any questions or submit your project to my team at Astorts Group for evaluation.
He uses to dedicate part of his life to inspire others and help them achieve the most out of their lives. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He is Member of Institute of Directors in London, Member of Changer Club in Riga, Member of Fintech Association of Hong Kong, Member of Singapore Fintech Association, Member of Non Executive Director Association in London and Member of Alumni Network of Draper University in San Francisco. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.
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