When a manager sees the profitability of his/her e-commerce store is falling, then effective measures are necessary to stabilize the situation. When developing measures to increase profitability be sure to consider the specifics of the company. In this, offering promotional products to clients, customers, employees, and business partners is the best method to increase the revenue of your online store.
This will automatically enable them to stay in touch with your brand. So, there are a number of universal methods that will raise profits from the sale of products through promotional items. Let’s have a look at the following points:
Competent Merchandising
Clear and visual placement of goods in the store is a simple and effective way to increase sales by 10 % at once. But the products should be laid out not only convenient for the visitor but also beneficial for the seller. To place the most profitable goods at the consumer’s eye level, and to place promotional products in the cashier zone, these are the main recommendations of experts on the effective layout of the assortment. Pay special attention to the appearance of the goods. Packaging should be neat and intact.
Gift Promotional Items with Purchase
When a potential buyer has already chosen the product, offer him/her a similar, but more expensive by 25-45%. As a rule, people love free stuff. So, with the completion of your visitor purchase, offer them a free item. But, make sure that offered free item is branded and original like a lanyard or bottle opener. This is a pre-eminent way to build a relationship with your customers and promote your brand. Avoid offering some promotional items that have been sitting in a closet for quite some time.
Offer Expensive & Quality Goods
This free method allows you to increase revenue by up to 25%. Approximately 35-55% of people will choose the more expensive option. By providing the original and expensive gifts to your employees and customers like pen, notepads, gadgets, etc, they will always stay on your list and choose your store before going to any other store. A useful, unique, branded, and original product always reminds about your business from time to time. Therefore, give preference to the original and high-quality products.
Loyalty Program
Getting discounts on discount cards and bonus points for the purchase are powerful tools that increase sales. These discount promotions have a strategy to boost short term sales, move excess or dead inventory, gain new customers, reward repeat customers, and gain an advantage on competitors. Buyers prefer to make a purchase through the discount code, which gives you some versatility with your promotions. Therefore, by presenting the offer on site, you can prevent visitors from leaving your site to compare prices on other sites.
Promotions & Sales Through Trade Fairs
The goal is to motivate a customer to purchase more than he originally planned. The tool is especially popular for increasing sales in a crisis or when you need to get rid of the old product range. It is recommended that holding promotions and sales through trade fairs, events, or business meetings. So, organize some kind of events and trade fairs to offer original promotional gifts to your guest.
Ask For Feedback
Selective call to customers, questionnaires, surveys in groups in social networks, these all allow the customers to tell about your products and enable you to make the necessary improvements according to their preferences. These tools will allow you to identify what is missing buyers. It is better to ask closed questions about the assortment, quality of service, availability and design of the store and any other aspects, but detailed answers should also be provided.
Run Contest Through Social Networks
Representing your store on Instagram, Facebook, Twitter, and more will significantly increase the number of users. They will learn from the public and groups about the range, promotions and discounts. An effective way to increase returns from a website or group on social networks is to announce a contest of reposts with a real prize.
By running a contest, you can drastically build your brand value in the market. Enable your customers to join the contest and get a qualitative gift in return. Make sure the item you choose is according to your customer interest because you want to capture quality for optimal retargeting. This promotion method is a must for businesses looking to expand their reach.
Bottom Line
If you correctly approach the issue of increasing sales, it will be easy to correct the situation. So, the profitability of the business does not fall again. For this, watch the business indicators constantly and quickly respond to their deterioration. The above-mentioned tips will help you to increase the sales of your online store without losing the current customers.
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