Sales are one of the most powerful sales times for companies, this year especially marked by the growth of Internet sales. In fact, according to an IEBS study, 83.7% of Spanish Internet users say that the pandemic has prompted them to use the Internet more to buy compared to traditional commerce.
Most of the large corporations have already announced that June 24 will be the date on which the starting gun will be fired. Due to the relevance of Internet purchases, everything indicates that digital marketing will play a fundamental role in transferring the added value of brands to the maximum number of people. In this sense, from IEBS Business School, they highlight the best strategies to help eCommerce to boost their sales.
Free shipping is one of the actions best valued by buyers. Customers are hooked on the idea of not having to pay additional costs to receive the product at home and they are a good customer loyalty tool. It generally helps reduce the number of abandoned carts, breaks the shipping barrier, and increases the price of the middle cart.
The bundling strategy consists of creating packs of a set of products that are synergistic and complementary so that their sum contributes a greater value than independently. One of the greatest benefits of this technique is that it allows you to use “hook” products that seem very attractive for price, and gain margin with the rest of the accessories in the pack.
Flash sales are a good strategy to increase sales quickly and for a certain period of time. The online store would offer flashy discounts available, typically less than 24 hours. The goal is to generate impulse purchases from customers who want to get the best price. In part, its success is due to a sense of urgency and unique opportunity.
A price block strategy is about taking flash selling to the extreme. For example, offer the first 20 units with a 50% discount, the next 30 with a 60% discount, etc. The offer increases with each block and everything in a specific period of time.
Partnerships with other companies
Sales are a great time to build relationships with other companies for mutual benefit and implement cross-selling strategies. Take the opportunity to negotiate with another eCommerce to offer a discount to their customers or directly give them your product. The objective of the partnership with third parties is to find a company whose products are complementary and reach new audiences by joining forces by offering added value.
Outlet sales is another of the online promotions that consumers like the most. It is especially useful in retail stores, and is usually carried out by creating an outlet section with discounted products. This type of action helps to increase sales and, above all, to remove the accumulated surplus from other seasons. The section will need to be highlighted.
Extra discount for taking an action
It is often easier to keep repeat customers happy than to attract new ones. To do this, we can include a pop-up on the web announcing an extra 10% discount on all products for signing up for the newsletter. Once we receive the customers’ email, we can send them information with promotions or news related to the products they have bought and in which they have shown interest. The referral strategy is also useful. That is, for every purchase that a friend of yours makes, you get a 10% discount on their purchase.
Shoppertainment is a new form of advertising in which a product is promoted using entertainment as a medium. In the case of e-commerce, one of the most popular formats is online discussions with industry experts. A debate is held and that space is used to promote a product or service with a special discount for seeing it at the event.
Sales are a very good opportunity to reach new customers, but above all to generate loyalty. If there is already a customer base, it doesn’t hurt to offer special discounts to reward loyalty.
For example, offering customer cards, offering free products or services for volume purchases based on points or challenges, etc. “Although little by little the eCommerce sector has been gaining adherents in recent years, the pandemic has resulted in a rapid maturation of electronic commerce”, explains Óscar Fuente, Director and Founder of IEBS.
“Although it is true that some sectors have benefited, such as food or electronics, others such as tourism or retail have suffered much more. In this sense, the sales are shown as a good opportunity to recover part of what was lost in the past year, “he adds. Incorporating electronic commerce in the sales and internationalization strategy is essential for the survival of a company.