How can you tell products effectively to maximize your sales volume? What are the ways to draw more customers to your web store? If you ever bother answering these questions, you must pay attention to the following marketing strategies essentially meant to boost your sales, increase average order size and customer pool.
• Cross-selling is a sales method that consists in offering additional products that are likely to interest the customers when they make a purchase. Cross selling refers to the practice of promoting complimentary items – you link certain products together, draw customers’ attention to the products that complement their purchase and encourage them to explore these relevant items. Often to influence the customer to accept the recommendation, retailers may also provide a cross selling offer discount.
Cross-sell products may appear in the product info page (in this case people call them related products, meant to be purchased in addition to the item the customer is viewing) and on the shopping cart page. It is highly advisable to display cross-sells already in the shopping cart as customers tend to make more impulse buys on this stage. Anyway, select wisely which products to highlight and where and what moment to offer cross-selling on your website. You can use the analytics website to find the best relevant associations between your products. But do not overwhelm the customer with additional products, cross-selling must be perceived as an intuitive ‘plus’.
Apart from offering associated products, there is also a widespread cross-selling form called ‘People who bought this, also bought’ – in the order details page the customer sees products that other people have purchased along with the chosen product and thus can be easily induced to make additional purchase. This is a good way for retailers to maximize the cart. Keep in mind that with cross-selling you may increase your average buying basket by 30% – that is a third of your product sales.
• Up-selling is another established strategy to drastically increase your online profits. Retailers can enhance their checkout course with an up-selling block to offer the customers an upgraded or premium version of a product customers have selected. Discounts may also be applied with an up-sold product.
Through selling the customers just before they complete their purchase, you easily create add-on sales as the wallet is already out. If you are not focusing on this, you simply miss out on some serious opportunity to boost your cash flow.
As a store owner you require to define those upgrade options that can be up-sold when certain products are added to the customers’ basket. But describe them in a way that helps customers justify the additional higher value they will get with your up-sell item suggestions.
• If you are running an e-store, you almost certainly need to integrate Affiliate programs. This is a type of negotiating with another company in which a business rewards with commission one or more affiliates for each customer brought about by the affiliate’s own efforts or marketing strategy. This is indeed an effective sales channel as it forces higher targeted traffic, better SEO ranking, collectively promotes your product reducing at the same time your overall marketing costs, since you only pay for quality performance.