Harikrishna Kundariya, a marketer, developer, IoT, ChatBot & Blockchain savvy, designer, co-founder, Director of eSparkBiz Technologies, a Mobile App Development Company. His 8+ experience enables him to provide digital solutions to new start-ups based on IoT and ChatBot.
People who are probing for boosting the traffic on their e-commerce site in a pocket-friendly way, then this write-up is for you! Here given three easy hacks that would help you to grow your business by shooting up your sales without deep pockets.
According to a survey conducted by statista, e-commerce sales in India for the year 2017 was around $20 billion and it is expected that by 2022 this figure will cross $52 billion.
According to another research, the global retail e-commerce sales in 2017 was $2.3 trillion and it is expected that this figure will reach $4.8 trillion by 2021.
These statistics are good enough to indicate the rise of the e-commerce sector in the last few years and that’s why business owners around the world are investing heavily in this area.
However, the competition in the e-commerce business is massive and as a business owner, the biggest challenge for you is to make your brand stand out from the rest. Otherwise, you won’t be able to generate the desired level of sales as well as revenue for your business.
Worried about how to grow your e-commerce business? Then, don’t be so. Today, we’re going to provide you with 3 of the most simple yet effective tricks which will help you to double up your e-commerce sales without even spending a penny.
So, let’s set the ball rolling & analyze each trick one-by-one in detail.
Upselling is an e-commerce sales technique in which you offer your shopper the chance to upgrade their purchase in terms of better features, better specification or more volume.
In 2006, Amazon who is a global e-commerce leader generated 35% of its total revenue by implementing the upselling tactic. This shows the kind of impact upselling can make on e-commerce sales.
Things To Remember Before Upselling
- You Can Only Upsell To Small Portion Of Your Customers
Upselling works like magic in your e-commerce business, but that doesn’t mean that you should upsell to each of your customers.
According to research conducted by PredictiveIntent, upselling drives on an average 4% of your sales which means only 4% of your customer base will be affected by this tactic.
To make upselling effective, you should target a group of customers who are willing to pay more than their original wish.
- Upsell Only Most Reviewed, Most Sold & Most Relevant Products
You should only upsell your most reviewed, most sold and most relevant products.
Most Reviewed - So you can convince your shoppers.
Most Sold - They’re the best products and so people will think about purchasing it.
Most Relevant - Most relevant products vary from person to person and therefore, you should create a customer persona for this kind of upselling.
How To Implement Upselling For Your Store?
There are 2 methods for implementing upselling for your store - Manual & Automatic.
Step 1: Categorize All Your Products
For this purpose, open an excel sheet and add columns like Product Name, Price, Category, Luxury & Upgrade.
Once the columns are added to the sheet, start filling them with all the products that you sell on your store. After that, define whether a particular product is an updated version of another product or not by writing “YES” or “NO.”
Step 2: Tie Regular Products With Respective Upgrades
Once you’re done with the categorization, you should tie the regular products with its upgrade. For example: If you’re running a clothing store, then you should link “luxury” jeans with the cheaper version of that product.
Step 3: Talk To The Developer & Insert Upsell Page
Conduct a meeting with your Mobile App Developer working and ask him/her to insert the upsell page in your e-commerce store.
For that purpose, the app developers need to have knowledge about everything related to app development. That’s where knowing the basics of app development is extremely vital.
If you don’t want to get into the hassle of doing all the work manually, then you should opt for the automatic option. You can use plugins or add-ons to implement upselling in your e-commerce store.
Cross-Selling is another viral e-commerce sales tactic where you present your shopper with products that are used in conjunction with one another.
For example: If your customer is looking to buy a brand new iPhone 7, then you could offer them the iPhone mobile case. This type of conjunction works well.
Various Ways To Implement Cross-Selling Tactic For Your Store:-
- Offer Personalization In Recommended Products
Personalization is a compelling tactic to boost up your sales and therefore, you should use it to cross-sell your products. Rather than just using “Recommendation For You,” you can use the name of your shopper like “Alex, You May Love This.”
This type of change can make a massive impact on the final sales outcome.
- Use Social Proof
Although it’s an old methodology, it gives many of the new tactics a run for their money. Most of the new customers didn’t have full trust on your site and that’s where social proof can be your greatest weapon.
This type of social proof will encourage the customer to buy more products and help you to boost sales.
- Show Different Cross-Selling For Different Pages
What I mean by this that, you should strategize your cross-selling depending upon the e-commerce page, i.e. different offering for product page and check out page.
When your shopper goes to the check out page, he/she has an exact idea of their spending. Now on that page, if you present a higher price item as a cross-sell, then that won’t work.
Instead of that, you should offer low priced at check out page as that will have a maximum chance of selling.
You can offer a higher price item when the person is on the product page and he/she has still not decided the item they want to buy. At that time, higher-priced items will undoubtedly be bought.
3. Product Bundling:
Product Bundling is unique as well as underutilize way to increase the revenue of an e-commerce store.
What happens in this technique is that you offer a group of products to the shoppers with the right amount of discount.
This way, shoppers will be convinced to buy 2-3 products instead of a single product which contributes to your sales.
Various Ways To Implement Product Bundling Tactic For Your Store:-
- Bundling Main Products With Accessories
This is a perfect example of bundling main products with accessories. You’re offering the purse and a necklace set with a saree.
Now, most of the women need this thing together and therefore this combo will work like magic for you.
- Force Sell Bundles
What happens in this scenario is that when a buyer buys one product another product will be immediately added to the cart without taking permission from the buyer. That means, the buyer will be forced to purchase a combo and that will increase your sales.
As shown in the screenshot, you force the shopper to buy a t-shirt & shorts with either Printed Chiffon Dress or Printed Summer Dress which increases your revenue.
- Mix & Match Bundles
This tactic is most used by the brick & mortar stores, but they’re now gaining popularity among the e-commerce business as well.
What happens in this type of situation is that you offer the customer a package in which he/she can select 5-6 random items and they have to pay a fixed amount which is less than that cumulative price. Customer Service plays a massive role in this regard.
As shown in the screenshot, Amazon offers a Mix and match bundles for drawing & painting category.
In recent times, the e-commerce sector has grown leaps and bounds.
Business owners nowadays are looking to invest a lot in this sector, but with so much competition in the market, it’s quite a challenge to stand out from the rest.
In this article, we have provided 3 very simple hacks which will help you to double up your e-commerce sales without spending a penny.
If you’ve any question or suggestion regarding the blog, feel to write them in our comments section. We’ll try to answer all your queries as soon as possible. Thank you.!
Subscribe to weekly updates
You’ll also receive some of our best posts today