Online shopping has taken over, and we’re probably not too far away from E-commerce running the show completely. And it makes sense that E-commerce will continue to grow over brick and mortar options. The available leads you have when it comes to running an E-commerce store is staggering compared to a brick and mortar which has a capped foot traffic amount based on your location. However, the amount of competition you have for those eyes on your products is growing swiftly. That’s why it’s important to have winning sales strategies to convert your visitors into buyers. Let’s look at a few different strategies for converting leads into sales.
Delay Asking for Money or Showing a Buy Now Button
When consumers are researching a type of product they are looking to buy, they do research and educate themselves about the features offered. If you can be the one to inform the consumer about the ins and outs of your type of product, you make yourself an authority on the subject.
For example, let’s say you’re launching a new smart watch. They are relatively expensive, so your units sold may be lower, but each sale is a larger profit. Consumers looking to spend that amount of money will definitely be doing research on what different watches offer.
Create a rich FAQ page and blog area to discuss the features and benefits of your product, and in this case, smart watches in general. The longer someone spends on your site reading about your product, the more likely they are to trust your brand and return to make a purchase, whether it’s today or next month.
If your web space is full of on screen add-to-cart and flashy buy now options, it can appear as if you're trying to make a quick sale without giving any thought to the needs of the consumer. Not a good look, especially since your website is supposed to be championing your product.
If you’re offering a service, see if you can afford to give away a free trial of the product for a two week to one month. As long as your service is a great value and offers something the consumer wants, they will have a higher chance of renewing.
Tip: If your trial auto-renews at the end of the trial period, give a few days of grace period after the charge goes through for call-in cancellations. You don’t need to list this benefit publicly, but refusing to cancel the service, and refund the money one or two days after it renews will only get you one month of the subscription. It will also likely also result in a negative review of your company. Bad reviews will hurt your bottom line a lot more than the monthly renewal of a single account in the long run.
Key Takeaways: Your goal with this method is to either build brand awareness and trust or offer to let the lead try your service prior to making a final decision.
Target Better Leads
If you’re driving leads to your site with paid traffic, it’s very important to make sure they have the highest potential to convert. This is because each of these leads has a cost of acquisition associated with it.
If you can, look at previous sales and gather what data you can about the consumers that were most likely to convert. Look for any numbers or factors that stand out. This will be different for each seller, but things like, time of year, geographic location and gender are all good places to start looking.
It can also be handy to see if your sales numbers are still aligned with your target audience. If your real estate product is targeting young first-time home buyers, but the bulk of your sales are baby boomers, it may be time to re-tailor your campaigns.
Odds are you’re also running free email campaigns as well. Take a look at what aspects of previous campaigns converted well, and if you list is large enough, you can even consider splitting it.
Key Takeaways: When targeting leads via paid ad placement, always focus on quality over quantity. Researching past sales can give you some good jumping off points on future campaigns.
Create Click-Worthy Email Campaigns
The unfortunate truth of the matter is this. All but your most loyal customers are likely subscribed to your competitors’ campaigns. That means it’s important to create better email campaigns than your competition. The first thing to do would be to subscribe to your competitions’ email newsletters.
Better doesn’t necessarily mean designed better visually (but it certainly doesn’t hurt). Instead, you want to offer the most value to the recipient. Instead of a sales heavy email, consider running more campaigns featuring more informational content. This is where having a nice informational presence (tip 1) on your page comes in handy.
Tip: Continually evolve the layout and visual interface of your emails with A/B testing to increase click-through rates and put more leads in front of your product. Research your previous campaigns to see which items had the best conversion rates. If you weren’t doing this before, there’s no better time than the present.
Key Takeaways: Create email campaigns that offer more valuable content to the consumer than your competitor's emails. Once you have a winning formula, don’t be afraid to test small changes to further increase conversions.
Create More Landing Pages
You may believe that having an ad campaign link directly your product or home page is not the best way to approach your customers. In fact, you’ll like see a pretty high bounce rate if your email campaign simply dropped the visitor on the home page. Instead, create content-rich landing pages for each campaign you run.
If your leads are coming from an ad or email campaign, they likely clicked where they did for a specific reason. Perhaps it’s a special promotion, an exciting new product, whatever it is, a landing page for the campaign to lead to will help guide your new lead to conversion. Also consider they may have clicked on a campaign because they were interested, but wanted more information. A landing page is a perfect way to go about supplying specific information without competing with other content on your site. They are there specifically for X, so don’t give them X, Y, and Z.
By now, you’ve likely noticed I’ve used the content word quite frequently. That’s because the expression “content is king”, has never been truer than it is today. Provide the best information and value to your leads, and your sales will increase.