Reliance on seasonal promotions
Promotional Sale seasons impose massive importance for businesses, and enduring a pandemic has highlighted the power of online marketing that holds the elixir to sales’ revival. Although Black Friday stays at the top of shopping attire year in and year out, it has witnessed a global dropdown in shopper’s traffic with an estimate of 4.1% compared with the past 3 years. That being said, December always brings hope to merchants to stabilize an increased sale’s momentum. Knowing the significance of Christmas to accelerate your sales game, we’ve compiled you the top 3 methods you can rely on for eased consumer traffic.
“Gift Cards” A Team
Consumer Gift Cards expenditures have been estimated to be 20%-50% more than their average purchase amount, as stated by Forbes, which fixates it as a strong asset to depend on during promotional seasons. There are two types of gift cards, Open-Loop and Closed-Loop, each with its own benefits and features. Open-Loop gift cards are digital e-cards that are often branded with “Visa” or “MasterCard” logo, and that type could be flexibly cashed out anywhere that accepts that brand. Closed-Loop e-cards on the other hand, could only be cashed out through the merchant that issued it. Adding a Closed-Loop gift card to the order confirmation page is a method to encourage your consumer to make another purchase, or pass it on to a family or friend who would use it, therefore doubling your sale despite the issued discount.
It’s a good time to re-contact abandoned checkouts
Baymard reported an estimate of 69% abandoned checkout rate on an international year-over year basis on online stores. Abandoned checkouts are unresolved consumer purchases when an individual adds items to his cart, without placing the order. Reasons behind abandoned checkouts are various; they’re everything from a consumer’s curiosity to know the cost of an order’s totality, to unintended distraction that kept him from fulfilling his order. Regardless of the reason, promotional seasons are always the best timing of the year to reach out to consumers who abandoned their carts with a discount endorsement that could aid the process of order placement. Best way you can possibly reach out to abandoned checkout consumers is through a Newsletter Campaign that holds the promotion announcement, and a personalized reach out to each consumer individually. Consumers tend to trust merchants that show in depth focus on their personale, that being said, checking the items that a consumer was about to purchase is a good entryway to grab their attention. Make sure to include relevant product suggestions to each individual within the newsletter to give them an extra-mile endorsement to proceed with their purchase.
“Countdown Timers” are the ultimate urgency factor
Countdown timers are commonly used on landing pages to create a sense of urgency, and inform clientele of the time left for an offer to end, however they’ve recently found their way to checkout pages. Whichtestwon conducted a survey during 2020 stating that the addition of a countdown timer, on average, increases businesses revenue by as much as 9%. It comes off as an inconsiderable percentage to a lot of merchants, however, calculated according to the number of visitors that land on your website on a day-to-day basis, this percentage creates a massive difference to your promotional sales estimate. The sense of urgency hammers, from a marketing-psychology perspective, on the FOMO factor (fear of missing out) and scarcity, which are two main derivatives that trigger consumers into placing orders. The placement of countdown timers on checkout pages, unlike landing pages, is the light push that converts a visitor into a buyer. The two options might seem to hold little-to-no difference observed from an external perspective, however, during promotional seasons, consumers are fully aware that there are active offers running on your website, and the visit sessions are those of purchase-intentions on most cases, so placing a countdown timer on the checkout page is the absolute trigger needed to turn an observation into a sale.
Don’t forget to enjoy the “merry” vibes
December 2021, according to Bain, holds a promising sale resurfacing of an increased 9% on average, which holds better hope to rely on than last year’s 5.8% expectancy. That being said, regardless of the conversion-facilitating methods you’d action within your business this Christmas, make sure to enjoy the revenue you’ll gain for the season.