E-commerce is hotter than ever right now, but what are the numbers attached to this mounting growth? Well, in this current scenario, e-commerce sales are expected to reach heights. Customers are going online to shop and recently they started doing that right from their smartphones, so in the near upcoming days these numbers will grow even more. If you want to trade, you need customers and those customers want new, innovative products, offers and a website that tempts them to keep on browsing.
These e-commerce strategies will help you to develop a supportable method and focus on what you should do to thrive, from targeting the right customer to having a kick-ass social media strategy.
In today’s post, we will analyse the science behind E-commerce looking at several strategies to target your current customers and get them to purchase more often.
So now that we need to understand why concentrating your energy on your current customers can be more important than gaining new ones. Let’s look at some ways to increase conversions amongst your current customers.
- Show Stock Scarcity:
The fear of missing out can have an influential effect on shoppers. Creating a sense of urgency among your website visitors can help make more people buy and less people “go home and think about it”.
The study found that the retail stores that had perceived scarcity produced psychological effects such as consumer competitiveness, insistence to buy, in-store hiding, and in-store hoarding. Hence, you can introduce perceived scarcity to your store by creating a product or time shortage.
For example, putting together an expiring sale or offer can force customers to make a decision faster than they might have without a time limitation
You can use stock shortages to your lead. Instead of looking at limited quantities of your products as a limitation to the sales you can make, look at them as a way to show scarcity to your customers and increase the perceived value of your products.
- Introduce hours sales:
This is an endless reminder to those browsing the website if they desire to take advantage of free and quick shipping, they need to place their order within the next 2 hours. This keeps customers from putting it off later, and more often than not, forgetting about it altogether. You want the customer to purchase, ideally, the first time they come to your website. It’s very unlikely they will ever return, even if they are very interested in purchasing.
Another way to create scarcity with limited quantities is to tell customers how many you have to sell instead of telling them what’s left. In most cases, using this strategy works best when selling a “limited edition” or “limited run” of a product, where you only manufacture and sell a specific quantity. Coupons with validity will also help for better traction to the website.
- Introduce urgency time offers 1 day or 2 days:
You don’t only have to show the quantity or sell a limited amount of a product to create shortage. The language you use on your website, marketing resources and emails can generate a lot of insistence as well. Letting your customers know that your product can sell out at any time helps create a sense of fear and urgency. Customers don’t want to regret not taking action when they could have, and using the right copy on your website can prompt them of that.
Lastly, don’t overdo it. You don’t want to come through as if you’re compelling your customers. The key function of perceived scarcity in your business is to inspire procrastinators to make a choice, not to force people to buy things they don’t want. The significance of creating scarcity, when used improperly, is that it can create buyer’s regret.
If customers make a purchase they were pressured into, it can cause them to remorse their purchase, want a refund and feel differently about your business.
- Create a Connection with Regular Customer via Newsletter & Emails:
The other thing you need to realize is that customers don’t necessarily shop at your store because of your products. They are shopping at your store because you have created a connection somehow. They want to buy from you because of the personality your store projects.
Your email list is an important tool for sustaining and building relationships with your existing customers. Each time email has proven itself to be one of the top converting channels for e-commerce. Take a look at the graph; it’s clear that email converts much higher than social and close to twice as high as organic search:
- Customers Dislike Sales Pages On Social Media, yet connection on Social Media is important.
Marketing your business on social media is all the rage right now but simply posting your online store URL on Twitter or Facebook is not going to get you customers. For one thing, most people are extremely suspicious of any type of sales page they encounter. Anything that even resembles a product page is just going to get passed on.
Similarly, I hate it when I’m on the forums and I notice that someone has randomly dropped a link to their e-commerce website. Simply blasting your website URL to uninterested parties is not going to work because no one is paying attention! 99.9% of the time, I’m using social media to do research, to read about what others are up to or to just relax. My marketing sensors are alert and I hate being led to a random store or e-commerce site.
On the other hand, social media is all about building relationships and who’s better to build and cultivate relationships with than your customers?
People who have chosen to ‘like’ or ‘follow’ your company tends to ‘like’ or ‘follow’ your brand for a reason. Many times, these people can be your most loyal customers. They want to hear more about new products and promotions so it’s important to use these channels regularly to make sure you’re connecting with these people and driving them back to your store often. However, you should always pay attention to your pages engagement. This means, you should be posting often enough so that you’re regularly reaching all of your fans and customers.
When customers first come across your e-commerce website, they do exactly the same thing they do when they walk into an unknown traditional store, they look around, tries to fit up with the place, and choose whether to trust the dealer enough to buy something from them. If you want them to buy something from your website store, you need to do everything you can to make sure they find you reliable enough.