It’s Happening! The Make Or Break Time Of The Year!
Are YOU getting pumped? Well if you’re tracking your orders the past few days, since Thanksgiving morning right on through Cyber Monday, you should hopefully be seeing the rewards of all that you have done to prepare for the rush of holiday shoppers. In fact, the express train of shopping should go at the same speed of light right on through December and for a lot of us, continuing right on through the first two weeks of January of 2018.
It’s SALES time baby, Sales. This time of year usually makes or breaks a store’s bottom line, and everyone wants a good size piece of the money pie!
Now one of the key things any online merchant needs to remember is that keeping track of your analytics data is key to helping you make the 4th quarter and possibly the 1st quarter of the New Year a bang-up success. Remember, your web-store will hopefully see a lot of traffic and if the gods shine down on you, a good amount of orders as well. But are you going after those website visitors that haven’t made a purchase when they first came to your site? Do you have methods lined up to interact with them, to entice them to come back and make a purchase?
If you really look into your available data that Google Analytics accumulates you can see that there is a percentage of visitors that while they may not purchase anything on their first, or even second visit, if handled correctly by you, the merchant, they can come back and take advantage of a promotion that you may have followed up with to get them to come back and buy. Along with an added incentive to get them to spread the word about this promotion and get bit more savings by doing a referral.
The first data point you want to take a look at during the holiday season is your conversion rate. An optimized conversion rate makes the most of the traffic you already receive. And doing so can have a massive impact on your revenue during Black Friday, Cyber Monday, right on up until the end of December and early January. Remember, a lot of people receive gift certificates from friends and family and are looking at the best deals right after Christmas to cash in and get the best bang for their buck!
Also, your existing customer base. This is probably one of your most important sources of potential revenue gain. You farmed that information, from orders placed in your store, right? Well you have to consider those customers as your “Bread and Butter” customers. After all, they are the ones clicking on that “Add to Cart” button that helps you to pay the bills. While reports have shown that return customers may account for less than 10% of the overall eCommerce traffic, they generate a consistent 41% of the overall store revenue. That is nothing to discount! That being said, stats have shown that return visitors convert more, have a larger order value amount and bounce less than first-time visitors.
If you haven’t focused on this group of people, the boat may have sailed while you were looking to get on board. But, as we said earlier. It’s the beginning of the holiday shopping season. Your email contact marketing list should be hitting the digital cyberspace queues by now. But if they haven’t get them going with coupon codes designed to increase an order value and offer incentives if they come back after the holiday for your “Flash” New Year’s sales to take advantage of those coupons and discounts that can change a few hours each day. And one key rule of thumb for using any kind of discount is the one promoted by Jonah Berger’s “Rule of 100” any discount on a product over $100 should show dollar-amount savings, and any discount on a product under $100 should show a percentage.
Also, if you’re providing an exceptional sale, say on a product or product line that may be discontinued in the New Year. Give a reason why this is such a good offer. Most people believe the adage, “If it’s too good to be true, then it probably isn’t”! What you want to avoid is visitors thinking that either something is wrong with the product or it’s not as valuable as the original price says it is.
Don’t forget about the benefits of “Remarketing” It’s been shown that merchants who use remarketing, which is advertising to people who have already shown some degree of interest in your products or services saw over a 70% increase in conversions!
When you advertise to people that are already familiar with your product lines, you have the benefit of having already established a relationship with them. And one of the best mediums to do this is with Social Media, such as Facebook Ads, Instagram Ads, Pinterest, and reputable blog posters that can post about your business and products.
Now the above are just a few snippets and ideas that you should already be implementing. If you’re not, or if you already have made your plans but they don’t seem to be performing as well as you’d like, call the marketing team from Black Arrow Marketing and let them review what you have implemented and see if your already on the right path, but just need some adjustments to turn that wavy road to a straight highway to success! Call them today at 888-225-4780.