New business is a key driver for any company, regardless of the industry. But with the eCommerce world being hyper-competitive, there's a real urgency to ensure you're doing everything you can to maximise sales and increase revenue. That's the purpose of this guide, which provides helpful tips to maximise your sales and make the most of every opportunity available to your online store.
How businesses can maximise sales during Black Friday and the festive season
Black Friday is now big business in the UK, and companies get the chance to significantly boost their sales with special promotions every year. Shoppers spend around £80bn with retailers during the festive season, and Black Friday tends to kick it all off. To make the most of Black Friday, make sure you offer payment flexibility with alternative finance, are active on social media channels and have a website built for a seamless shopping experience so customers can go from the item page to the checkout without any hiccups.
How to keep your customers coming back to your website
No one is arguing that new business isn't integral to growing your company, but repeat business is also necessary for a successful brand. In some cases, it's even more important than acquiring new customers – almost half of the transactions online are repeat business. Encourage shoppers to use your online store more than once by asking them to create an account so their shopping experience becomes more seamless each time they visit your site. It's also worth producing win-back marketing campaigns designed to engage with previous customers and get them to come back to your store. Delivery is also essential, as a poor delivery service will likely see them shopping elsewhere.
Increase conversions on big-ticket items with flexible finance options
Large baskets are the name of the game for online stores. If a customer is willing to spend a little bit more while building the business. One of the best ways to empower shoppers to spend more involves offering flexible finance. That's because it provides more flexibility, giving shoppers the option to spread the cost of their repayments and easing the financial burden of large purchases.
What is cart abandonment, and what can you do to decrease it?
If merchants have a kryptonite, then it's cart abandonment. Research suggests that around £18bn of sales are lost yearly to shoppers dropping off at the checkout stage. Fortunately, there are ways to decrease cart abandonment rates and sell more items. These include offering flexible finance and giving customers more control over their spending. Beyond that, focus on having clear calls to action across your website that encourages customers to take the next step. Always display the total cost of an item, including delivery, as this avoids any nasty surprises at checkout. You should also explore sending reminder emails about products customers leave in their carts to create a sense of urgency.
How smart technology drives merchant conversion rate
Around 60% of online transactions now take place on a mobile device, so it's easy to see why retailers spend so much time ensuring their website is smart-tech friendly. Staying on top of trends and deciding what tech to implement for your business can be tricky, but there are some actions you can take to stay ahead of the curve. Monitor how customers interact differently on mobile compared to desktop, and keep up to date with what's trending among shoppers. Analyse their behaviour, especially if you've just implemented new features on your website. And if you roll out any new features, don't be afraid to test, test and test again to ensure everything works as it should.
Top tips on how to boost your sales
Sometimes merchants want to avoid overcomplication and increase sales through straightforward measures. If you're looking to boost sales, try using paid traffic to give your website a boost on search engines while you build the organic side of content. Focus on building trust with customers to encourage repeat business and referrals. And, of course, offer flexible finance options, so they have choices when it comes to paying for your products and services.
With the right approach, you can maximise sales no matter what you sell. Keep a good balance between new and repeat customers. And look for ways to engage them with content that focuses on their pain points while offering flexibility with different finance options. Plus ensure your customer journey is fluid and your website is designed to enhance their shopping experience.