Are you familiar with the “power of three?” Studies show that three is the sweet spot when it comes to the brain’s ability to grasp concepts.
This principle can simplify your plans for boosting your company’s online sales. Focus on optimizing these three opportunities for a well-rounded approach that produces steady growth.
1. Grow Your Customer Base
Not surprisingly, this is often the primary goal of most companies. Gaining new customers expands your reach in the marketplace and offsets attrition from accounts that drop off due to business closings and other factors.
The trick is to set yourself apart from the competition by demonstrating that your product or service can best solve a prospect’s problem. This requires a thorough knowledge of your target audience along with compelling content on your website.
Customer conversion is essential, but it’s the most expensive and time-consuming way to increase online sales, which is why you can’t afford to ignore the other two methods.
2. Grow Your Average Order Size
Once a customer makes the decision to buy from you, the hard part is over. You’ve established a level of trust that makes them willing to spend money on your product or service.
Effective ways to increase order size include:
• Upselling a related product, such as suggesting a belt to go with a pair of pants.
• Offering a discount for multiple quantities.
• Selling an upgrade to a higher level of an item, such as a cell phone with more memory.
• Bundling similar items, much like Amazon does when they suggest an additional book on the same topic.
• Suggesting complementary products, such as batteries to go with the kids’ holiday toys.
• Providing options for longer commitments, perhaps a one-year membership instead of one month.
• Selling extended warranties.
• Including a menu of add-ons.
• Offering expedited delivery.
• Showing products other customers have bought at the same time as the current item.
3. Grow Your Number of Repeat Sales
It’s a well-established truism in sales that it’s less expensive to keep existing customers than to find new ones. Satisfied customers pay benefits in repeat sales, plus they’re more likely to provide referrals.
Promotions can play a major role in bringing past customers back for more. Send follow-up emails with coupons, sales and suggestions for similar or related products.
Selling online doesn’t mean you can ignore customer service. It’s actually even more important, because buyers can find new suppliers from the comfort of their living room. Superior customer service is the best way to make sure your company makes a lasting impression.
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Let our California and Massachusetts fulfillment services company handle the details so you can concentrate your time and energy on growing your online sales.
