Sales in German eCommerce continue to rise: According to the German eCommerce and Distance Selling Trade Association (bevh), they increased by 11.6 percent in 2019 compared to the previous year. But intense competition means online shop operators have to work even harder for their slice of the pie. Here we introduce important tools that will help your online shop continue to grow.
Achieve Strong Sales with a Limited Product Range
No doubt you’ve experienced it yourself: Hotel booking sites and similar services urge you to quickly make a reservation before the popular accommodation is fully booked.
The underlying idea is a simple yet brilliant way to increase sales. By integrating scarcity elements that create urgency, you make it easier for your customers to arrive at a purchase decision. On the one hand, this involves an emotional aspect – your customer doesn’t want to miss anything. On the other hand, it involves a simple cost-benefit analysis: For our brain, making decisions means investing energy and attention. So the greater the benefit appears, the more likely your customers are to make a decision.
These scarcity elements can look very different. You can either set an actual time limit for the end of the promotional offer or mention a specific quantity limit. Both methods give your customers an incentive to buy. They are particularly well implemented when the buyer doesn’t feel pressured, but instead feels rewarded by the purchase. A prime example of this is the approach taken by Airbnb: Here you’re assured that you’ve found a special deal that is currently significantly cheaper or would normally be fully booked.
Up-Selling und Cross-Selling: Powerful Sales Boosters
With up-selling, it’s important to have a product at hand during checkout that your customer might like even more, such as one of higher quality, a newer model or a product with additional features.
Cross-selling starts at the same point in the buying process. However, instead of a comparable product, you now offer your potential buyer a complementary product once they’ve added an item to the cart. This should relate to the item in the shopping cart and thus assume a certain advisory function. For example, if your customer has a frying pan in their shopping cart, matching kitchen utensils would be ideal cross-selling products.
With both up-selling and cross-selling, the right time and the appropriate intensity of the tools are important. If they seem too intrusive, these approaches may annoy your customers and cause you to lose them. If you manage to strike the right note, it’s a win-win situation: The customer doesn’t have to waste time searching for products, and you increase your sales.
Keep Your Customers in Your Online Shop with Popups
Exit-intent popups come into play when an online shop visitor is about to leave your site. A dialog window appears which introduces a special offer or invites the user to subscribe to the newsletter.
Technically, an exit-intent popup is activated with a so-called mouse-out trigger. How exactly to implement this depends on the user’s device. On desktops and laptops, the popup appears when the mouse pointer is about to close the window. For smartphones and tablets, triggers can include the back button or switching the app.
Ideally, exit-intent popups allow you to keep customers who were going to leave without making a purchase in your online shop. They also offer the opportunity to gain newsletter subscribers. With the right software, the popups can be tailored to the respective customer, making them a powerful tool for addressing customers directly.
Price and Performance Set You Apart and Increase Sales
However, products with a good price performance will leave the best impression on your customers. Do you want to increase your sales long-term and sustainably? Then a market intelligence tool like blackbee Insights is essential. This will give you a comprehensive understanding of complex market factors, such as your competitors, their product ranges and prices. With this information, you can establish a price-performance ratio that stands out and sets you apart from your competitors.
Find out more about the wide range of possibilities blackbee Insights has to offer and give your online shop a noticeable sales boost. Our market analysts are happy to discuss customized solutions with you.