By Jon Clark, Managing Partner at Moving Traffic Media, a New York digital agency offering SEO, PPC and Amazon marketing services.
You don’t need us to tell you that the world is experiencing a cost of living crisis at the moment. Things are getting more expensive due to inflation and high interest rates. Because of this, many people likely have fewer funds available, which makes any kind of sales harder. So, how exactly do you boost online sales when people are spending less?
Focus On The Value You Offer
Rather than simply focusing on the price of your products or services, concentrate on the value you deliver. Customers will only start questioning your prices when they don’t see any value. If you deliver value that goes beyond your prospective customer’s expectations, you become the evident choice. People aren’t as reluctant to spend their cash when they know they’re getting something worthwhile in return.
Amend Your Messaging To Reflect The Current Times
It’s also vital to make sure your communication is sensitive to the current times. You shouldn’t simply brush the economic climate under the carpet. You need to have a sensitive approach and show the value you can offer people during this period. This ensures your brand is authentic.
Deliver Fantastic Discounts That Make Your Customers Want To Buy
Naturally, when people have less money to spend, they’re going to be actively looking for more discounts and special offers. If you offer a discount to someone, you increase the value, and you make their experience even better. Plus, once you wow them with your product or service, they’ll see the quality, and they’ll be much more likely to come back and pay full price when your discount isn’t running in the future.
Carefully consider what sort of discount is going to work for your audience and the products or service you sell. For example, would it be better to offer buy one, get one free? Or do you think half-priced products would result in more sales? The way you structure your discount campaign is going to have a massive impact on how successful it is.
Make Some Noise By Showing Up In Forums
If you really want to boost your sales volume during difficult times, you have to make some noise in a crowded marketplace. One of the ways you can do this is by actively participating in discussions relevant to your brand, which you can do by joining forums and discussion groups.
Speak about the services and products you provide, share ideas and suggestions and get feedback from users. Be mindful of simply posting an array of promotional messages. You need to be a valuable part of the community, not an out-and-out salesperson. Once you build a human connection and people trust you, they’ll be much more likely to purchase from you.
Ask Previous Customers To Post Reviews About Your Company
Social proof is everything. No one wants to hear your self-indulgent sales pitch. Instead, they want to hear glowing feedback from people who’ve purchased from you before. This is why it is imperative to encourage past customers to leave reviews about your business.
It can be difficult to encourage people to use their own time to leave a review, though, as many people are very time-poor today. There are some tactics you can use here. For example, you can offer an exclusive discount, provide points toward any loyalty scheme you may be running or enter them into a drawing for a giveaway.
Consider Different Payment Plans You Could Offer
One of the most successful methods when it comes to increasing sales in the current economic climate is by offering flexible billing options. We’re sure you’ve noticed the growth of buy now, pay later options and pay-in-four solutions. If you can offer these on your website, you can encourage more sales.
Moreover, consider offering delayed billing. Could you take a deposit and accept payment four to eight weeks later, for example? Of course, you need to make sure you have provisions in place so you don’t end up out of pocket if you go this route. However, it ensures you secure the deal and get your commitment from the client while giving them the time needed to get their finances in order.
You should also make sure you’ve got a whole host of different checkout options available. Do you accept all major debit and credit cards? What about e-wallets, such as PayPal? The more accommodating you are, the more sales you’ll get.
Spend Less Time On Leads That Won’t Convert Into Sales
Last but not least, using your time wisely is always important, but this is even more true when a lot of customers aren’t spending money.
You should make sure that you are qualifying all of your leads in advance. This will ensure you don’t waste your time and money on people that have no interest in purchasing from you.
With this straightforward yet effective step, you may reduce your overall marketing and advertising spending. This is because you won’t need to reimburse sales reps or any other team members who have spent heaps of time on leads that won’t or cannot convert.
To qualify a lead, make sure they have a need for your product or service. They also need to be in a position to buy or commit to purchasing. Other signs include a willingness to listen, trust in you and your business and a sense of urgency.
Boost Your Online Sales Even When People Are Spending Less
When people are spending less, it naturally causes worry and concern. But this doesn’t mean you can’t make some great sales. If you have special deals and discounts, empathize with the times and focus on the value you provide, you can give yourself the best possible chance of optimizing the sales you make during this traditionally difficult period.
