How do you increase sales?

Poster
Message
Herts, England United Kingdom
Andy
Kudos: 11,623
Joined: Jan 1, 2001
How do you increase sales?
14 Jan 2015
Jax's reply to the last QOTW got me thinking about a simple question: how do you increase sales?

There's lots of possible ways I can think of, but what really works for you? And is "increasing sales" a specific type of work, or something you are thinking about and experimenting with constantly?

Would love to hear your thoughts!
Andy Geldman, Web Retailer
Please follow on Twitter, Facebook, LinkedIn or Google+
Garland, Texas United States
Retail Web Diva
Kudos: 150
Joined: Dec 2, 2014
Re: How do you increase sales?
14 Jan 2015
@Andy Personally, I use Twitter and Pinterest to get the word out about my products. But I think one other thing that's equally important is to think creatively on how to market your product so that it stands out from the crowd.
Lawanna Bean
Supplier
Israel Israel
Valigara
Kudos: 123
Joined: Aug 28, 2014
Re: How do you increase sales?
15 Jan 2015
I suppose that 500-pages-long answer is not expected

Managing dozens of clients and accounts, we see a lot of similarity in work to be done in each one of them. The "best practices" are especially good due to their scalability, meaning once you have done something , it is much easier to do it second time. With that, there are no "twin" accounts...

First thoughts:

1. Define measurable goals (KPIs)

This one is probably the basis. If you want to increase sales by 15%, this can be done by improving the existing techniques, if 200% - will require the new approaches, research, trial and error.

2. Define your strenghts and resources

There is virtually endless amount of techniques, optimizations and practices. It's impossible to do everything. So, first identify what will be easier to do - for you, and now. F.i. if our traders team is strong in understanding the eBay / Etsy / Amazon search algorithms, we put our efforts there. If someone is stronger in PPC - use Google Shopping to bring traffic. Good in Social - use networks to engage with your audience and create leads to your stores. Have exclusive sourcing abilities - reprice. And so on, and so on...

3. Separate immediate / short term / long term tactics.

The main idea of what I am trying to say below is that "Increase sales" has very different meanings in different time frames. And the routines will be different.

Immediate increase (up to 2 weeks) can be gained by 1-time measures such as sending email marketing to existing clients, creating speciall offers in your webstore, upsale with bundles and discounts etc.

Short term (1-3 months) will mean overlooking the current offer to the clients and the rework of existing sales channels. Improve listings / timing, adjust to new marketplaces requirements, redesign, ABtest the UCP, introduce new shipping methods, reprice, lower the cart churn - endless... The important thing is that the selected technique should be run at least 3 cycles in the desired period, to get some understanding of what you're doing.

Long term (4 months and longer) practices will include adding more marketing channels to your multi-channel and cross-channel strategy, updating your products line for trends and more profitable niches, adding more payment methods, trying new traffic sources, affiliations etc, and on physical level improving logistics (f.i. with FBA-like services), re-photographying and measuring your items etc. Your internal analytics and Terapeak will do the job.

Most important - get measurable results at each point, don't get stuck with practices you always use, keep things as simple as possible. And stay positive

Best,
Igor Nusinovich

[Last edited: 15 Jan 2015]
Igor Nusinovich, Co-Founder & CEO

Valigara Online Jewelry Manager
Multi-channel eCommerce for Jewelry and Diamonds
Supplier
Israel Israel
Valigara
Kudos: 123
Joined: Aug 28, 2014
Re: How do you increase sales?
15 Jan 2015
and @Andy , if my texts are too long, please free to stop me - sometimes I get too enthusiastic while writing.
Igor Nusinovich, Co-Founder & CEO

Valigara Online Jewelry Manager
Multi-channel eCommerce for Jewelry and Diamonds
Herts, England United Kingdom
Andy
Kudos: 11,623
Joined: Jan 1, 2001
Re: How do you increase sales?
15 Jan 2015
@Valigara not at all, it's a fantastic answer
Andy Geldman, Web Retailer
Please follow on Twitter, Facebook, LinkedIn or Google+
United States United States
Rick_48
Kudos: 31
Joined: Jan 15, 2015
Re: How do you increase sales?
16 Jan 2015
We have started a Google Adwords campaign at the start of this year. Early assessment is that it has drove a substantial amount of traffic to our website, looks like its doubled our sales so far. But I don't have hard stats yet, just gauging site activity.
India,Bangalore India
forgetq1
Kudos: 25
Joined: Jan 13, 2015
Re: How do you increase sales?
16 Jan 2015
ONLY THROUGH OFFLINE MARKETING THE CONVERSION IS MORE AND ALSO INVENTORY UP TO DATE HELPS INCREASING SALES
Buy online be with your family and friends
Queenlsnad Australia
Anne
Kudos: 28
Joined: Jan 14, 2015
Re: How do you increase sales?
17 Jan 2015
I am still learning about the web.

Social Media takes a lot of hours and I am learning day by day. It stops me from doing the things that I want to do.

Post more recipes - I have just purchased a lightbox so that my photos will be more professional. Add more information on Australia. I will add products as I go but for now there are enough.

It has been a real learning curve.

Anne - www.aussie-products.com.au
Anne Taylor
Laredo, Texas United States
Migaz
Kudos: 30
Joined: Jan 14, 2015
Re: How do you increase sales?
17 Jan 2015
Continue adding more items to your listings. The more items we have listed, the more the likelihood that someone, somewhere is needing or wanting something from your list.
Nottingham United Kingdom
Bigian13
Kudos: 2,254
Joined: Feb 21, 2014
Re: How do you increase sales?
18 Jan 2015
We are in the same boat as Migaz The only way we can increase sales is to increase range, and increase the number of selling platforms we sell on.

Our prices are already at the minimum and can not justify Google adwords campaigns etc.
E-commerce , love it or hate it, that's why we are here
Herts, England United Kingdom
Andy
Kudos: 11,623
Joined: Jan 1, 2001
Re: How do you increase sales?
21 Jan 2015
Not sure if this helps, but here's how I break it down:

Increase prices
One strategy is increasing the price of accessories, which might not be very price sensitive as they are often an up-sell. The easiest way to increase sales, if you can do it.

Gain new customers
  • New product ranges
  • Add sales channels
  • Advertising
  • Other marketing e.g. content, social

  • Sell more to existing customers
  • Upselling and cross-selling
  • Promotions
  • Andy Geldman, Web Retailer
    Please follow on Twitter, Facebook, LinkedIn or Google+
    Supplier
    New York, NY United States
    Skubana
    Kudos: 128
    Joined: Sep 19, 2014
    Re: How do you increase sales?
    6 Feb 2015
    Lots of great insights and recommendations here. I don't want to try to repeat anyone on here so I would like to go outside the box with my answer.

    If you're looking to increase sales having a full understanding of your inventory is key.

    This is big for anyone selling on multiple channels, or out of multiple warehouses. Underselling and overselling costs your company money. Whether its disappointed customers, out of date product, warehousing fees etc.

    When you don't fully understand your inventory thats your money and your effort going into the wrong aspects of your business. Instead of focusing on lets say marketing, better customer service, or monitoring your competition you're instead dealing with backend headaches that aren't increasing that sales number at the end of the month.

    Having a full understanding of the workings of your business, and your products is key to boosting sales numbers as well as your overall company's success.

    If anyone is looking for further insight or any help with solutions for their eCommerce feel free to message me.

    Thanks for posing the question Andy

    Jim
    @Skubana_ERP
    Jim
    www.Skubana.com
    @Skubana_ERP
    Supplier
    United States United States
    ZapStitch
    Kudos: 68
    Joined: Aug 6, 2014
    Re: How do you increase sales?
    17 Feb 2015
    Amazing insights in the thread. Perhaps one of the most sure shot ways to increase sales is to pre-plan marketing campaigns around key holidays and events through the year.

    Some of the top holidays and events which result in highest sales in eCommerce are:
    Valentines Day
    Black Friday
    Cyber Monday
    Mother's Day

    Viral marketing is one of the hardest to crack but if successful, you can break some sales records.

    Shinesty is a great example to quote here. They sold out their entire season's inventory in just 6 hours on Cyber Monday. I talked to Chris, Cofounder and CEO at shinesty to get insights on how he reached the crazy sales numbers.

    He talked about how a simple facebook ad campaign coupled with branding helped their product ' The Ugly christmas Sweater Suit' reach stardom. Here's a case study examining the factors and sharing best practices to rapidly increase sales:

    Makings of a Viral Hit: How this Store Sold Out in 6 Hours

    Hope this helps.

    [Last edited: 17 Feb 2015]
    Integrate Shopify/Bigcommerce with QB Online/Xero
    Save 300+ hours/month with ZapStitch
    UK United Kingdom
    Linguagloss
    Kudos: 57
    Joined: Feb 6, 2015
    Re: How do you increase sales?
    8 Apr 2015
    Expand your target markets!
    Start doing business internationally.

    I write about it in my blog post here: www.linguagloss.com/sell-going-global-sceptic/

    Let me know what you think.
    London United Kingdom
    Matt Thorpe
    Kudos: 204
    Joined: Oct 15, 2014
    Re: How do you increase sales?
    14 Apr 2015
    I think it's clear that expanding reach through new markets and increasing the size of your catalogue can reap some growth but business owners are so focused on the shot-term buck that they often forget about the medium to long term picture.

    Take a step back from the marketplaces for the moment and think about your own website, brand and company identity. Your website is like your home where you need to maintain it, clean it, repair it and develop it to increase the value of it. All too often do I stumble across retailers that have a shop with a simple catalogue of products where they have ripped off the manufacturer images, text and features, expecting to generate a ton of sales just because they have a great price. Maybe 10 years ago but not now.

    Long term retail is about giving your business a personality and delivering trust to your customers. They don't want to be sold to at every occasion, they want to be loved and they want value from the relationship they have with you. By offering more than just product offers, you will repeat more sales and a great lifetime value from your customers.

    For example, there are only so many clothes someone can buy. Yes, people will always buy more but images of clothes sitting on a white background are pretty uninspiring. However, if you provide your customers with extra ways they can wear that garment, new styles, suggest occasions, additional accessories, etc you will not only gain sales but you will also gain the trust from the customer because they will see value in what you offer.

    So, in summary, my suggestions to grow sales are:

  • Collect as much email data from site visitors as possible.
  • Inspire your customers with fresh ideas.
  • Run some refer-a-friend campaigns.
  • Use social media channels to build your brand and cement your relationship - Not to sell!
  • Run promotions with partners that have complimentary products.
  • Re-activate lapsed customers with limited time discounts.
  • Focus on basket drop-outs. This can yield extra revenue.

  • I hope some of these ideas help.

    XSellco
    Volo
    Selro
    StoreFeeder