Last weekend kicked off the Christmas season with Black Friday and Cyber Monday. One of the peak periods for online spending is here, but
Do you know how to increase your online sales?
I could explain many strategies and techniques for increasing your business’s sales. However, it all comes down to this simple formula:
Sales = visits x conversion rate x average order value
If we want to increase sales, we need to focus on:
• Increasing visits to our eCommerce: the more people come to our store, the more chances we have to sell.
• Increasing the conversion rate: the higher our online store’s conversion rate, the more visitors will choose one of our products or services.
• Increasing average order value: the more each customer buys, the more we sell.
To increase visits, conversion rate and average order value, you need to carry out various marketing actions. These can be divided into:
• Acquisition actions: if we want to increase sales by winning new customers.
• Loyalty actions: if we want our existing customers to buy as much as possible.
At this point,
Do you know which actions to take to increase online sales?
If you’re a regular reader of the Trilogi blog, you already know some of them, but let’s review them and sort them by goal:
To increase visits to our online store, we should:
• Work on our eCommerce SEO to rank our most relevant products and win new customers.
• Promote our store or products with a SEM campaign. This will raise awareness of our brand and products.
• Be present on social media and have a blog. Not only will this attract visits to our online store, it’s also a great channel for building customer loyalty.
To increase the conversion rate, we should:
• Improve our eCommerce usability to make browsing easier for both new and returning users.
• Take care of our online store’s look and product pages to give visitors as much information as possible.
• Win over visitors by adding value to our product or service.
To increase average order value:
• We can use techniques such as cross-selling or upselling to increase the total value of the shopping cart.
• We should play with our online store’s shipping costs, encouraging orders above a certain amount to qualify for free shipping.
• Offer promotional bundles of our products. Many users go for bundles or take advantage of typical 2-for-1 deals to save money. In these cases, the user gets a discount and we increase the average order value.
There’s a certain parallel between physical and online stores when it comes to boosting sales, since the formula for increasing revenue is essentially the same.
If you stroll through the streets and shopping centers of your city these days, you’ll see that the stores with busy checkouts follow these three principles:
1. They’re well located, their window displays catch the eye and they’ve created an atmosphere that invites people in (they increase visits).
2. Product layout, pricing and other factors such as personal service influence visitors and drive sales (conversion rate).
3. Whether in the checkout line or during the shopping process, you’ll usually find complementary products (that we didn’t intend to buy) that can increase the purchase amount.
In short, to increase our eCommerce sales, we need to make our store visible and appealing enough to attract as many people as possible. Once we have their attention, we must showcase our products attractively and offer something that sets us apart from other businesses to drive the sale. And if we want customers to spend more, we need to offer promotions or deals that change their original purchase intent. That’s how we can grow our online store’s revenue.
Have you worked throughout the year to increase your online store’s sales?
