There are a lot of parameters that you can use when you want to increase your gross sales. Most online businesses focus on their marketing and how they can get more visitors to their website, thereby overseeing the potential of selling more to the customers that are already buying. Here we would like to give some tips on how to earn more money on your existing customers.
To get one customer more to your ecommerce’s site can cost a lot of time and money. You need to market yourself in the search engines, write good content, sales page and so on. Therefore it is very important that the customers you have, buy as much as possible. Hereby you can increase your gross sales without increasing your marketing cost.
When a customer has picked a product in your webshop the barrier to sell them something extra is often relatively low. A way to do this is to sell complementary products. Let’s say a customer has picked up a pair of running shoes. Why not offer them a pair of socks, tights or a t-shirt? When a customer all ready has spend for example 150$ on the shoes it often easy for them to spend 35-50$ more on accessories. By offering your customers complementary products it is often possible to increase your gross sales by 10-30%.
Test the prices of product or service
How do you set the price of your product? It is not easy; it depends on which niche market you are in, what products or services you sell, the competition and more.
It is important that the price you choose is a psychological price. Sometimes it is possible to increase a not psychological price and not loose sale. Now that’s worth testing. A way to test your prices is A-B testing. The way you can do this is to take 50% of your customers and lead them to one page where the product is sold at one price and the other 50% and lead them to a different page with the same product sold to a different price. See which of the products are selling the most and use that price. It is important when measuring the effect on the two prices that you use the gross sales as a measure and not the number of customer who by. Here is a little example why:
- Product 1 is sold for 100$ in test A and is sold 20 times: 2,000$ gross sales.
- Product 1 is sold for 112$ in test B and is sold 18 times: 2,016$ gross sales.
Increase your price and sell more.
For some products it is possible to increase the price and sell even more than before. This is often the case for products that are hard to compare. A bottle of milk is relatively and CDs are relatively price sensitive. But if you for example sell furniture or consultant services people often think that a higher price stands for a higher quality (to a certain degree). So again test your prices and see what works! Some customers will, no doubt, be very angry if you raise your prices but these customers exist everywhere. So don’t let a few customers dictate, how you run your online business.
Offer your customers an extra service
Have you ever bought a program where you were offered to pay a little extra for a download service? That is you could download the program again for example if your computer crashed. Or maybe you were offered a year of upgrades for a certain amount. This is a cleaver way of increasing your sale. Often it doesn’t cost the e-commerce anything but they get to increase their gross sale. See if you can come up with an extra service to sell with your product that won’t cost anything but gives the customer a little extra security/service.
Offer your customers good service
A good customer services is not a question of what your customers expect. Good service goes beyond what the customer expects of your business. What could make good service for your customer? Think of it. Maybe it is a follow up mail where you ask if the customer is satisfied with their purchase? Or maybe if you sell computer equipment you could send a mail with a “getting started guide”.
As mentioned it is expensive to get a new customer and often if a customer badly feels treated, they will let other people know about this on forums and so on. So if a new customer Googles your business and finds a lot of bad publicity you will have a hard time getting new customers. There is another reason for giving your customers a good service. People are creatures of habits. If you give a customer a good experience she is likely to return. Now they have found a place that treats them well and by going back they save the time of searching and the risk of getting treated badly in another shop.
That was a quick walk through on some of the things you can do to earn more on you existing customers.