With the increasing competition in all markets, online stores need to keep thinking to raise revenue in order to cover their business is stable and operating costs continue to rise. Jualan yang cepat laku here are seven strategies to increase sales online store:
- Getting new customers.
- Target new markets.
- Sell more to existing customers.
- Increase your average order size.
- Expand your product line.
- Raise prices.
- Cross-line marketing.
Getting New Customers
Every e-commerce business are generally looking for new customers. But, if you are really focused in that effort? Here are some ideas.
- Sales referral / reseller. Create a referral program / reseller to increase your customer. Give them an incentive to refer you to their friends via social media, email or any other place.
- Improving Advertising. Pay-per-click ads, content ads, print ads, add keywords.
- Social media buzz by running a sweepstakes or a contest on Facebook to get a new customer emails, blogs, Tweets about specials or new products, multiply followers and fans.
- New marketing campaign. Create a new marketing campaign with a fresh look and appeal to different market segments, doing a refresher on your website with a more modern look, get coverage from the media and create a buzz about something you do differently from your competitors.
If you want to increase your sales by 20 percent, you need to earn 20 percent more customers. There is a possibility that new customers will not buy as much as your old customers, so make this factor into your plans.
Target New Markets
New market refers to new customers who do not know any of your store. In some cases, new markets can be achieved through the new store. In other cases, such targeting overseas markets, it may require the translation of your web site.
- Overseas markets. Consider your website localization for various languages and targeting other countries through advertising, social media or B2B portals abroad (mis.Alibaba.com).
- Niche market. You can extend your offer in a niche market and opening a new store just serving it. Conversely, if you have a niche store, consider expanding your offerings to a wider market.
- Wholesale or retail? There are many stores that begin with the wholesale or retail and discovered by modifying their pricing strategies, they are able to serve more markets.
- Sell via the new channel. Expand your product offerings to the market such as Amazon or eBay. In Indonesia, there are many options of marketing channels (in addition to its own website), for example Bukalapak.com, Tokopedia.com, Blibli, com, Groupon.co.id ff. In many cases, customers of the new channel is a different consumer than you’ve had before.
Sell more to existing customers
This strategy is great for most businesses. Traders sometimes strayed to gain new customers and forget about the thousands of customers who have bought from them. There are many ways to get more revenue from existing customers. Most of this way requires less investment than gaining new customers.
- Remarketing. Email newsletter is an incredible way to do marketing. You may send promotional email to abandoned shopping carts (shopping carts are abandoned), send transactional promotional emails with all the orders and delivery confirmation.
- Aggressive promotions. Target your email subscribers, Facebook fans and Twitter to promote a number of items. Offer them with products you know they like and try to make up-selling and cross-selling other products with a higher margin. (Upselling = directing customers to buy more expensive products, cross selling = directing customers to buy other products, usually done by bundling)
- Loyalty programs. Offer to your loyal customers with a “temptation” to buy products more cheaply. It seems simple, just like a free day delivery or same day.
- Deals. Offer to offer section with a routine to keep your costumer always see your store. This will increase the possibility of purchasing from your store, even if they do not respond to the deal of the day
Increase Average Order Size
Many companies ignore this strategy. Here are some specific ideas.
- More aggressive in upselling. Make sure your website can display up-sell item on the product detail page and in your shopping cart. A study found that by presenting the customer with a 3 or 5 choices are similar, they almost always choose products in the range of mid-to-higher.
- Cross-selling product. Presenting relevant related products on product detail pages and in your shopping cart. Present goods are often sold together. As the relevant products.
- Volume sale. By the time you’ve costumer want to checkout, offer volume discounts. If your average order size is Rp. 200 thousand, offer a 10 percent discount on the USD. 250 thousand and a 15 percent discount at Rp. 275 thousand. Make pop-up to remind customers they were just lacking a few dollars off discounts, and Serve some items in the price range to be selected.
The increase in average order size as a strategy is sometimes difficult to understand in the long term, as the size of your order, since it may fluctuate from time to time.
Of all the strategies listed here, this may be the most effective. This may increase your investment if you make a large investment in stock and labor to get the product in your store and promoted to your customer base.
However, it is also very easy: Know your customers and add products that are most widely purchased them. Peek into your competitors and look for what is being sold. Talk with your suppliers and see what other stores that sell. Also ask your customers what they want.
- Add a new product line. In this case, of the product that you add is “slightly off” of the products you are selling today. You may benefit from additional sales to existing customers, and you also may be able to target customers who have not visited your store.
- Extend pillihan of existing product lines. Add an option of selling an existing product in your store, such as color, size, and other similar terms on a new customer.
Adding a new product line may require studies on new markets first. It also may require more resources to display the items in the online or fill orders. Make sure you consider the impact on your business before you continue.
It is an old concept that still works. Increase your price with a very small percentage. You do not have to do it on all goods. Not necessarily in large quantities. If you increase your prices across the product with 5 percent, your revenue rose by 5 percent. The risk of losing sales there, but it was quite small. An increase of 15 percent will be very noticeable, but not for a small gain of 1 to 5 percent.
- Mark up prices on all products. Try it with a small increase.
- Mark up the price for certain items, you might have certain items that do not have much price elasticity. Increasing the price on these items would be annoying to the majority of your customers. In this case, leave the price is intact and price on a niche or a Lift up a less popular items.
- The cost for shipping. In the era of free shipping, this is a different approach. But, try it. Add charge fees for the delivery of smaller orders. Shipping costs go up every year – usually two or three times per year. Why pay for it constantly? This reduces your profits. If you’re shipping to 500 orders per month and perform the recovery of the shipping cost of Rp. 10,000 per order, it means Rp5 million in revenue.
To you who have either online or physical store, here are some ideas Cross-channel Marketing is widely used by retailers.
- Selling online, but customers can take in offline stores. If you have an online store, you can try to encourage your customers to take an order at a physical store. This allows them not to pay the shipping costs, and other destinations is only a customer can buy something else.
- Buy in physical stores, but offer free shipping when shopping online. If a customer in your physical store and want to buy something but you do not have in stock, ask them to place an order online and send it to them at no cost.