The DriveSales™ | Proven and highly recommended sales strategies for ecommerce companies!
E-commerce i.e. electronic commerce means the activity of buying or selling products and services online. The role of an e-commerce business is to act as a medium where firms and individuals can buy or sell products or services over the internet. It facilitates B2B or B2C transactions. It is one of the largest sectors in the electronic industry.
As per a report by Statista, revenue in the e-commerce market is anticipated to reach US$45,894 million in 2020. User penetration is expected to be 39.7% by the end of 2020 and 61.8% by 2024. The average revenue per user is anticipated to amount to US$83.66. The largest segment of this market is Electronics & Media with an anticipated US$14,745 million market volume in 2020.
Some top e-commerce websites in India are Amazon, Flipkart, Myntra, Snapdeal, Alibaba, Shopclues, etc.
If you are trying to increase the sales for an e-commerce website, you are absolutely in the right place! We have put together some top tips that would help you to form the best sales strategies.
1) Focus on your existing customers — When you find that you are unable to get new customers, shift your focus to the existing ones. Customer retention strategies are more cost-efficient and easy to convert. As they are already aware of your brand, they are more likely to generate more revenue for you every time they visit your website. When they become your loyal customers, they would recommend you to others and in this way, you can acquire new customers too.
2) Show that your site is trustworthy — Security is one of the most significant concerns for buyers. There have been too many victims of credit card fraud in recent years. You must understand the fear of your prospects and work to gain their trust. You should display any of the security badges that your website is using to prove that you are trustworthy. Do not try to lie or mislead your customers, this could lead you to face some legal trouble.
3) Use video illustrations — Videos can increase the engagement and interests of your prospects. People tend to retain what they see more than what they read. Showing how a particular product can help is much more effective than just listing it up. It appeals to a wide range of prospects. It is a great way to sell new products that are unique and creative.
4) Include photos in customer testimonials — Customer testimonials are great to gain the trust of your prospects. But why would anyone trust someone nameless and faceless? Therefore, when you include photos of your customers in the testimonials, it proves to be much more effective.
5) Make your website mobile-friendly — People do not usually have the time to turn on their desktops or laptops when it comes to online shopping. It would be more convenient for them to use their mobile phones to shop anywhere, anytime while traveling, doing household works, etc. If your website is not mobile-friendly, you will probably lose a lot of potential customers.
6) Showcase your best-selling products — Show your prospects what the best products on your website are. Whenever a prospect visits your website, they may not be planning to purchase something but when you show them some of your best products, they would be tempted and most of the time end up purchasing them. Moreover, it also gives your prospects a direction when they feel confused.
7) Promote more on holidays — People buy more on holidays than on a normal day of the year. Shopping malls are usually packed up on these days. You can use this situation to your advantage. Let people sit on their comfortable sofa and shop with the help of your website. You can use social media marketing, email marketing, etc. to promote more on holidays.
8) Create a fear of missing out — You must create a sense of urgency when you are trying to sell something. This will make sure that your prospects do not defer while buying; they might think that they would make a purchase some other day but that day may never come. There are various ways in which you could create urgency such as limited stocks left, flash sales, etc.
9) Accept different options for payment — Understanding that different people are comfortable with different options of payment is essential. Some may choose a debit card, some credit card, or for some cash on delivery would be the best. If you do not want to lose any potential customer, try to accept all types of payment options.
10) Offer discounts — Offering discounts is one of the best ways to drive sales. If your budget or profit margin is not allowing you to provide discounts, you could just raise the base prices of a product and put it on sale. More than price, people notice the percentage of discount that a website is offering. You could also offer free shipping if your prospect purchases above a certain amount. That would prove helpful in encouraging bulk sales.
Now, as an effective SALESPERSON! We can do three things from here.
1) Ignoring the opportunity and blaming the situation for revenue loss.
2) Taking important notes and going back to revisit your sales strategy with the growth mindset.
3) Reach out to The DriveSales™ if you need any specialized help for sales.
To conclude, what you choose to think also provides some idea of your growth mindset. It is something like Doris Lessing’s quote, “That is what learning is. You suddenly understand something you’ve understood all your life, but in a new way.”