7 Proven Strategies to Increase Online Sales of Your Product
Whether you’re a SaaS seller or one who deals in physical products, making a new sale can seem almost impossible given the sheer number of alternatives customers have to the product or service you are offering.
But on the bright side, it’s still possible to win customers and make sales. Here are seven strategies you should adopt and start implementing today to hit your desired sales goals.
1. Center Your Story
It’s one thing to know, internally, what makes your product different. But if you aren’t communicating your company’s culture and story clearly to your customers, you’re missing out on a powerful opportunity for increasing sales.
Take the case of Schlitz beer. Dan Stelter, writing for the Wordstream blog, explains that, early in the brewery’s history, they were encouraged by advertiser Claude Hopkins to differentiate themselves from other companies by spelling out their brewing standards, rather than just claiming “purity” in their ads.
Image Source: Wordstream
Since no other brewery at the time was using compelling stories in this way, it’s no surprise that, as Stelter notes, Schlitz went from the eighth beer in America to the first in just a few months.
2. Streamline the Process
Eighty-six percent of website visitors will leave the checkout process altogether if they're asked to make an account. And that’s just one element of the checkout process. What other sales-stopping roadblocks can you remove?
- Reduce the number of pages in your checkout?
- Cut the number of form fields required by your checkout process?
- Eliminate extra, unnecessary confirmation steps?
The more you can do to make checking out as easy as possible for your customers, the more they’ll reward you with increased sales.
3. Make Action Urgent
Successfully deploying scarcity through well-crafted, limited-time-only promotions can increase sales up to 332 percent, according to Marcus Taylor, award-winning entrepreneur and founder of Venture Harbour.
In a guest contribution to the ConversionXL website, Taylor describes launching a ‘Groupon deal for musicians,’ which was available at a special price for 100 hours only. Because even small improvements in conversion rates could mean the difference between selling out and being left with available packages, Taylor created a sense of urgency with the following split test:
Image Source: ConversionXL
This change, along with other improvements made to his sales copy and user experience, resulting in a conversion rate lift from 3.5 percent to 10 percent.
4. Use Cold Email Outreach
We all know selling to existing customers is easier than connecting with new customers. But if you’re serious about increasing sales of your product, cold outreach has to be part of the conversation as well.
Fortunately, cold outreach doesn’t have to be difficult. With the right tools and the appropriate workflow, you can automate everything from finding the right prospects to confirming their email addresses and plugging them into a cold email sequence that’s designed to quickly introduce them to your products and nurture them as leads. Needless to say, sending follow-up emails is essential -- unless you like missing out on sales.
5. Up-sell to the Gap
Up-selling is often talked about as a blanket sales strategy, but the truth is, it isn’t the right fit for every customer. Instead of blasting out universal up-sells, focus your efforts only on those who will actually benefit from additional products or levels of service.
As Hubspot’s Karla Cook says, “As a general rule, if you can't explain how the additional purchase will benefit the customer's overall goals, then it's not an up-sell worth pursuing.”
6. Earn Trust with Expertise and Credibility
Don’t just be another product seller. Be the trusted source in your industry.
“When your brand evokes something familiar, such as a celebrity, industry expert or even a memory, people will believe that your brand possesses similar qualities to said familiar entity,” writes Beth Morgan on the Shopify blog. “They’ve established expertise in the space, and you can reap the benefits by associating your brand with authoritative figures, thus inheriting your own sense of authority.”
Morgan describes three types of authority-building that apply specifically to product sellers:
- The expertise of your makers (for example, if you use artisan craftspeople in your production process)
- Curation through established names (for example, if you leverage a leader in your space to curate information or recommendations for your buyers)
- Expert endorsements, through which established authority figures recommend your products to others
Pursue one or all of these strategies, depending on your product, your company and your buyers.
7. Find a New Audience
If all the above business strategies fail, look to the greener pastures of a new audience.
Take the example of Amazon’s Kindle tablet. When the company felt its advertisements had saturated its base of adult users, the Kindle team pivoted, releasing the Kindle Fire for Kids bundle which made it relevant to a new audience.
You can do the same thing. What other audiences could your product serve, with a few cost-effective tweaks or new positioning? Who else stands to benefit from the product you’ve already created? Answer these questions, and you’ll be able to dramatically increase sales of your product by tapping into new communities of possible users.