In searching for informative articles relevant to the topic “How to boost your sales”, you will surely chance upon a number of articles where some “abstract” pieces of advice like ”Let your customers know that price is a somewhat relative concept” are given, but the problem is that these sort of sites lack specifics. This article is aimed at throwing light on the fact that apart from your usual profit (that is, what you would earn without putting this app combination to use) you can earn even more!
First of all, you should understand that a complex approach to tackling the problem is necessary. The same applies to the sales strategy. That is, by implementing an individual application, you may see an increase in sales, but by deciding on a useful and efficient “application set”, you will definitely be able to earn much higher profits in your online store!
To explain further: let’s consider the difference between your typical profits and your potential profits, with the example of average data of my children’s web store during ordinary days.
|Visitors (per day)||5000|
|Orders (per day)||125|
|Gross Profit (per day)||$7,180|
|Average order value||$105|
Based on data from the past7 years, we can see that, on average, on Black Friday sales conversion rate increases by 50%, traffic increases by 2.5 times, and the average order value decreases by 20%.
It goes without saying that these figures will differ depending on each store, as every online shop has its own peculiarities and specifics. I just tried to show with an example from my shop’s average data the potential difference in profitability you can see (that is, before using the app combination and after).
Let’s have a look at the statistical data of my online shop from the first day of Black Friday 2015:
|Visitors (per day)||10,490|
|Orders (per day)||368|
|Gross Profit (per day)||$16,955|
|Average order value||$84|
As seen from the data above, profits increased by two times. Yes, this is great, but I realized that it was not the absolute most that could be earned, and I set myself the goal of earning MORE profit.
What changes in my strategy helped me boost profits on Black Friday 2016?
When analyzing the previous Black Friday, I realized the fact that the average order value invariably decreases. That’s how I hit upon the idea that I should see whether profits will increase if the average order value is unchanged. So, I tried to keep the average order value unchanged, so it would be the same as the average order value on an ordinary day.
And I met this goal – the average order value from the previous Black Friday was $102.
From 1 sales day in 2016 I had this data:
|Visitors (per day)||12,500|
|Orders (per day)||487|
|Gross Profit (per day)||$27,320|
|Average order value||$102|
In total, I did increase my profit considerably in comparison to 2015, by way of experimenting and implementing useful applications.
So, what applications did I use, and what purpose do they have?
Of course, no one wants to stay up all night long changing prices on their online stores when, for example, season sales are coming (especially those who have a huge amount of products in their stores). So, this application makes the process of updating your site (for instance, when setting up discounts for your goods) much easier.
All you need to do is:
- Choose some products/collections
- Denote the discount
- Determine the start and the end date of the sale
This application is based on the idea that “It is much more beneficial and reasonable to sell more products to one client, providing them with a little discount, than to attract another one”.
The app shows a table informing the customer about special offers under the “Add to Cart” button. This small table gives you the opportunity to set up discounts for purchasing different quantities of products (this depends on your settings) at the same time.
Let’s consider an example: let’s imagine that one bottle of shampoo costs $8, 2 bottles of shampoo – $14, 4 bottles of shampoo – $25. Of course, it is much more beneficial for a customer to buy 4 bottles of shampoo for $25 than only one for $8.
The Quantity Discount & Tiered Pricing Application shows real efficiency in practice. Just adjust the design of the message about the special offer, making it more attractive to your customers, and enjoy boosting your sales from every single customer!
What is this app meant for?
This application enables you to earn more profit from each customer. So, when a customer completes their order and clicks the “Check out” button , a pop-up window appears informing the customer about the possibility to buy relevant products (that is, products based on the content of the customer’s shopping cart). For example, a person buying a laptop will likely want to buy a bag for this laptop, maybe a mouse (if they don’t like using the touchpad) or speakers as well.
How can this application be applied to your online shop?
First of all, you should denote the products that would appear in the pop-up as additional to the products a customer decided to buy. Second, you should set the price of these products.
As we can see, this app is easy-to-use but it really stimulates customers to buy more products, because of the fact that exactly THESE offered products can supplement the initial purchase with the benefit to the customer! This app is undoubtedly a “must have” for Black Friday!
This application is aimed at bringing back users who haven’t made a purchase but switched over to another tab in their browser.
How does this application work?
- When a customer leaves your website to navigate to another tab, your shop’s tab starts blinking, attracting the customer’s attention and compelling them to return to your shop’s website.
- When this customer goes back to your site by clicking the blinking tab, they can see a message such as “Your shopping cart will expire soon” or “Someone tried to buy the item you have in your shopping cart. We will keep it for you for the next 15 minutes” or something else.
So, if you didn’t have the opportunity to track your customers’ actions before, now with the help of the Abandoned Cart Reminder application you can draw their attention to your website again, prompting them either to finish their purchases or just cancel their order.
The efficiency of all these applications is unquestionable, and the apps are “must-haves”, not only on Black Friday but on ordinary days as well. I have already seen this for myself firsthand. Try and see for yourself which application will work best for you! I wish you a successful business, and that both you and your customers are satisfied: you – with more profit and your customers – with their purchases!