Do your ecommerce promotions sometimes seem like a mystery? Are some successful and others miss? If so, read on for proven ways to increase your promotion’s effectiveness today.
Simple Conversions Tricks
Have you ever wondered why some products seem to sell better than others and some promotions work better than others?
I’m sure you know by now, but many factors influence the success of a product.
But there are also some amazingly simple tricks you can use to increase your sales of any product.
Format Your Promotion Right
Did you know the way you format a promotion–even the same promotion–makes a big difference?
If you are selling low-priced items (anything under $100) format your promotion as a percentage off. Here’s an example:
“Hawaiin Floral Shirt $39.00 Get it now for 25% OFF!”
At this price point, most customers view the price reduction of 25% as more generous than the dollar amount of $9.75.
On the other hand, if you are selling big ticket items, the dollar amount converts better than a percentage. 500 dollars off of $5,000, seems more generous than 10%.
Start With A Higher Value
Let’s say that you have two products, both selling for $125. Which offer seems like a better deal?
Camera was $199–Now ONLY $125
Camera was $130–Now ONLY $125
Obviously, the camera is $125 either way, but the first offer seems like the better deal, even if the cameras are identical.
Obviously, you can’t go crazy here. You’ll just seem untrustworthy if you try to pass off a ten dollar item as being worth a hundred bucks. But the principle is valid. The bigger difference you can legitimately create between your original price and your sale price, the better the deal appears to customers.
You can create urgency one of two ways. Either you can limit the quantity offered at the sale price or the amount of time for a promotion.
Scarcity is a powerful human motivator. Humans don’t want to miss out. It’s psychological.
In fact, for many people, losing something is more a powerful experience than gaining something. Imagine losing $10 or finding $12. Chances are, losing the money seems more impactful, even though the amount is less.
Customers are the same way. Getting a good deal is a motivator. But getting the deal before it’s gone is even more powerful.
Amazon uses this strategy during the week of Black Friday when it offers “Deals of the Day.” Certain items are offered at a discount but only in limited quantity. Each item even has a real-time graphic bar at the bottom that visually shows shoppers how many are items are remaining to claim. The quantity limits make a feeding frenzy around the products.
You can add a similar feature to your shopping pages with real-time data that shows either how many items are remaining or how many have sold.
Also, a real-time countdown has been proven to improve clickthrough rates in email promotions by as much as 70%.
Surprise Your Customer
Really what this means is to surpass the customer’s expectations. Find a way–even a small way–to give the customer more than he or she expects.
Pleasantly surprise your customers.
As an example of this, I recently placed an order from a website, and when I received my package, the shipping box was customized for the company. Even the inside of the box had a clever saying and logo–somewhere you’d think of as dead space and not worth decorating. There was also beautiful tissue paper inside, again customized with the company name, protecting my purchase during shipment.
Altogether, the presentation of my order felt a little extravagant and fun. And it probably only cost the company a few extra cents to customize their shipment materials.
I’m looking forward to ordering from that company again.
These are all simple changes that you can implement today. Your eccommerce business will thank you.