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The economic crisis created by COVID-19 has significantly accelerated the shift to digital space and shaken up the business landscape. While it was a reality check for businesses that have been reluctant to embrace digital transformation, at the same time many industries have taken the consequences in their stride.
Post-COVID, apart from the eCommerce industry, many B2B and B2C businesses have now realized the importance of having a digital-first strategy. Hence, businesses have to strengthen their place and focus to increase online sales to grow.
A staggering 120 million online customers, with a CAGR of 28%, online shoppers are expected to reach over 200 million by 2025. Aside from being present where your prospects are, another reason it is important to focus on digital-first as it prioritizes targeted marketing in a way that traditional marketing does not.
However, it is not that easy to go online. You have to plan a proper marketing strategy in order to boost online sales.
Having a solid digital customer engagement strategy, properly executed can overcome the challenges of low revenue and significantly increase online sales. We have outlined some key strategies that will help in delivering a great user experience and drive online sales.
Here is a quick tab on the strategies to improve online sales.
Let us comprehensively discuss the tactics on how to increase online sales.
“When 10%–20% of salespeople miss goals, the problem might be the salespeople. But when most salespeople miss, the problem is their goals,” wrote the Harvard Business Review.
The first and foremost step to increase online sales is to identify your sales goals clearly. It means the percentage of growth you will target based on specific strategies, which are aligned with your revenue goals.
Defining the revenue goals is very important in each stage of your business. Prior to that looking backward is the best way to get a baseline idea of setting new sales targets for the future.
It is crucial to create value for your target audience as they are quick to judge because an average reader will stay on your page for just 15 seconds. Brand messaging is the unique value proposition conveyed to customers that inspires them to buy your product.
The more consistent your messaging is, the more consistent your branding will be whether via words, design, offerings, or perspective. Your brand should build awareness and develop trust and loyalty with customers.
Check out the example from Trello that gets straight to the point.
Here are some best practices on how to increase online sales:
Live chat is one of the most preferred channels of customer communication.
79% of consumers prefer real-time chat because they don’t have to wait on hold for a customer support team to respond. It leads to a 48% increase in revenue per chat hour and a 40% increase in conversion rate.
Using live chat for lead generation helps customers to get in touch with sales representatives and get instant solutions that help in making quick sales decisions.
Here are the key ways how live chat can increase online sales.
In a nutshell: A well-structured website design looks great and works well in delivering the best user experience. BMW, Apple, and Nike don’t throw millions at web design for fun. They know it sells better. In fact, how it looks and how it works is a key reason people buy from them.
Designing a great website experience requires a deep understanding of the challenges that visitors face. As websites have become a powerful tool for increasing online sales, it is crucial to focus on designing the website considering the key components.
Below are the key components that can help you do increase online sales.
Artificial Intelligence has become a strong ally for sales organizations with high volumes of opportunities and lead generation, mainly, because it provides fast and accurate support when performing for different sales stages.
Businesses are greatly investing in deploying chatbots for sales and lead generation with high intent leads. Bots can increase online sales conversion rates up to 30% when engaging prospects or leads.
KLM Royal Dutch Airlines’ chatbot so that people can opt-in to receive booking confirmation, check-in notification, boarding pass, and flight status updates via Messenger.
How chatbots help businesses to boost online sales.
REVE Chat offers a suite of customer engagement tools that can help transform different facets of your business. Start a free trial of customer service software and give customers the value they deserve.
Running paid ads is a great way to reach out to your customers. You need to identify the channels where your target audience hangs out and engage them where they are. Paid ads are an effective way to expose your brand to a large audience and helps to increase website traffic.
You can run Google Ads or run paid ads across your social media accounts like Facebook or Instagram for improving online sales. Social media is a great digital advertising tool for any business that wants to get a better return on investment.
Shopify’s Facebook ads are remarkably compelling and demonstrate a keen awareness of the core business demographics.
How do Facebook ads help in improving online sales?
Generally, customers are reluctant to buy a product online as they do not trust the brands. They have the fear to buy online due to many associated risks of sharing some personal details or making commitments.
Offering a free trial for a period of 10-15 days, a free demo, or a free product is an excellent strategy to improve online sales. 62% of companies get 10% or more of their business from free trials.
How offering free trials helps to boost online sales conversions?
Social proof plays a huge role in shoppers’ buying decisions. When someone is mulling over a purchase or trying to decide between two different brands, they’ll often turn to other people that have experience with the products for guidance.
A staggering 9 out of 10 customers read reviews before deciding to purchase. Getting insightful product reviews is critical to convince customers to make faster right buying decisions.
Here is an example of a Thin Blue Line Store USA store that makes the right use of product reviews.
How does social proof help to increase online sales?
Social media is a valuable tool for businesses and leads ahead of traditional media in driving traffic to your website. They bring in ample opportunities to gain business visitors and increase online sales.
A report by Forbes shows that 25% of social media users follow brand pages, which affects their final purchase decisions with individual retail and online stores. Evidently, the potential for sales increases through social media channels such as Facebook, Twitter, and Instagram are there.
Some tips that you can leverage to your social media lead generation strategy are:
It is crucial to have high-quality, compelling product pictures, and present them in a way that resonates with your potential customers. 90% of information sent to the brain is visual, and people form their first impression within a half millisecond.
Broadly, it means that your product pictures help to convince your potential customer that your product is worth buying. You can put your best foot forward with high-quality product images and videos designed to help you increase online sales.
Here are some ways to use images or product videos to boost your online conversion rates:
Have you ever experienced a product purchased didn’t work? Even a small purchase can have the risk of ‘buyer’s remorse. So why should they buy your products?
Having a money-back guarantee can overcome the risk. When you put efforts to lower the risk from the prospect’s decision, the more likely they are to buy from you. It is wise to take away anything that could dissuade prospects from purchasing from you.
Putting it simply – Less pain for them, more sales for you.
Zappos, FedEx, and Domino’s Pizza are all famous companies that used the PERFECT guarantees for their customers. And they built billion-dollar businesses.
Despite the fast-paced growth in online retail sales, checkout conversions are still a big challenge for many retailers. It is one reason why businesses lose sales. Hence, it is essential to get rid of the elements that create friction and annoy the customer.
ECommerce brands lose $18 billion in sales revenue each year because of cart abandonment. 26% of shoppers will leave if the checkout process is too complicated.
How to reduce the eCommerce cart abandonment rate and drive online sales?
Note: The integration of checkout solutions in the funnel allows retailers to introduce payment options at multiple touchpoints, which can be used to keep customers engaged, inform consumers about their purchasing power, and facilitate higher conversion rates.
Price is the most important factor in the decision to purchase any product or service. A low price can showcase low quality in the buyer’s mind.
Prior to implementing a pricing strategy whether it’s a tiered pricing model or anything else, know how your customers feel about your product so that a change in price encourages the market behavior you want.
How to increase online sales with limited deals and discounts?
Community forums are one of the best channels that provide marketers with an invaluable, and often free, the pool of queries and topics of interest.
By being proactive and taking advantage of the expanse of users and information on forums, you can transform the way you engage with your prospects and customers.
Quora is a social forum built around a Q&A functionality. It is a great resource for finding out what your target audience is confused about or having issues with.
How to boost online sales with the help of the community?
There are a variety of ways to reach out to new and existing customers. One of the reasons people start following you on social media, sign up for your email newsletter or join your loyalty program is to get access to exclusive deals that reward them for their loyalty.
Sending personalized re-engagement newsletters not only helps to increase online sales but influences customers who have left the site. Brands now execute personalized email automation to follow up with customers based on their behaviors with tailored content for better-improving sales conversions. One excellent strategy to maintain the freshness and readiness of your lead profiles for outreach customization is to use data enrichment providers.
Set up exclusive discounts from time to time so your business stays top of mind among buyers, and be sure to let them know whenever you’re running a special or sale. You can also use email to let subscribers know about new blog posts and other site content they might be interested in.
There are many strategies to increase business revenue but considering the pandemic scenario using a digital marketing strategy can be an excellent way to boost online sales for overall business growth.
There are different channels used by businesses for improving online sales such as social media, organic traffic, paid ads, etc. However, businesses need to continually reinvent sales strategies by listening to their customers to meet a constantly changing paradigm. Sign up to enrich your business with the most advanced customer engagement tools and grow your business.
Each of the above strategies can significantly increase online sales and generate high revenue in the right circumstances, but the optimum choices for your company will depend upon your understanding of the customers you serve.
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