You got great products. You've taken photos and completed great product descriptions for your online store. You've launched your website to the world and you're waiting for all those sales to come flooding in....right?
News flash...sales don't come flooding in. The average conversion rate for eCommerce shops is between 1-3% of traffic. It takes work! Today on The Visibility Show Stephanie and I talked all about how to get more sales online. You can catch the entire show here.
Here are a few of my favorite tips from the show.
1. Increase Online Sales By Offering Multiple Payment Options
Okay, so your business takes credit cards. What about PayPal? Apple Pay? Google Wallet?
Our customers have so many choices these days we need to make paying with us as easy as possible. By offering more payment options including the newer, popular mobile options you're making it easier for prospects to give you their money.
2. Increase Online Sales By Reducing Shopping Card Abandonment
More than 70% of eCommerce shopping carts are abandoned by shoppers before they check out, costing online retailers millions in revenue each year.
By using an abandoned cart saver you can send a series of customizable emails to shoppers who leave during the checkout process. Just turning on an abandoned cart saver helps recover 15% of lost sales on average and as high as 50% for some shop owners.
3. Increase Online Sales By Having A Call To Action
You're driving traffic and getting sales, but you want more. The average conversion rate of 1-3% that most eCommerce shops get isn't enough. There is a secret to increasing conversion rates.
What is the secret to increasing conversion rates?
It's a call to action or CTA as it is know in the industry.
CTA's are buttons throughout your site that tell your customers what to do, where to click and what to buy. Having a clear call-to-action on every page will increase your sales. You already have the NO - ask for the YES with a call-to-action button.
4. Increase Online Sales By Adding Trust Badges To Checkout Page
Let your customers know it is safe to checkout with you. It is important for customers to feel secure. With rising online fraud becoming a problem for eCommerce sites it is more important now than ever to have trust badges. Below are a few examples of trusted badges.
To hear the rest of the tips on how to increase your online conversions and sales, head on over to The Visibility Show here. Make sure you mark your calendar for every Thursday at 3:00 p.m. EST to catch our show every week here.
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We all want to increase our sales and grow our business. Today we are talking about ways you can do just that. You can watch it here or ready below.
We are always looking for new people to buy our products, right?
People don't buy products. They buy the results that your product gives.
You need to make sure that you are marketing your product with the benefits it delivers. For example, my husband sells a product that is an odor eliminator.
He markets his products to police officers to use on their bulletproof vests because they can't wash them. He is selling the solution to the stinky vest. He is not selling an odor eliminator.
He is solving their problem. The police officers come home, their wives don't want the vests in the house because they stink so bad.
Just spray the product on the vest and it no longer stinks. His product is selling a solution.
What is the solution that your product solves?
Next, identify who your ideal customer is, and what the problem you are trying to solve.
Clearly, with my husband's business, it's police officers, or military, or anybody that wears a bulletproof vest. So there's the ideal customer, and the problem he's solving is the stinky vest. It can even go further, like the stinky squad car or gear.
Who is your ideal customer, and what is the product that you are going to solve for them?
If you market directly to your ideal customer you're going to have a far greater chance of success.
You've identified the problem, you've identified the customer. Now you want to figure out what is your competitive advantage?
What is your competitive advantage that is different from all your competitors?
For example, my husband's competitive advantage is that his products are all natural. It doesn't have any harmful chemicals in it, it's non-toxic and it's safe enough for kids and pets.
This product is clearly different than anything on the market, and that is his competitive advantage.
Use the resources you have that are free for marketing.
Social media is great for using hashtags that can draw in new customers as they search for a solution for their problems.
For example, using my husband's product again... think about the hashtags #lawenforcement, #bulletproofvest, #kevlarvest.
How you can you attract new customers that are searching for things relevant to your business using hashtags?
Use testimonials in your marketing.
Work on getting testimonials from your current customers you already have. When potential customers are looking for you, they like to verify, "Hey, this person's legit, this person's really good. They do what they say they're going. The product does what it says it's going to do."
Show and share the humanistic side of your business.
Share the human side your business. I know it's scary to get in front of the camera. Don't be afraid to get in front of the camera and let potential customers know who you are. Let them see the humanistic side of your business. It moves the know, like, and trust factor along faster.
So there you have it, lots of strategies for growing your product based business.
If these tips helped you please share it with your friends that could benefit from them.
Have you ever considered selling your products on Consignment?
Today we are talking all about consignment. I have five tips for you to consider before you sell your products on consignment. You can watch it right here or you can read it below.
I am frequently asked by clients if they should sell consignment to retail shops. This question typically comes from newer businesses as they're trying to expand their avenues of distribution or their sales channels.
What is consignment? Essentially you're lending your product to a retailer. You don't have to run the risk of rent, overhead, labor, and salaries with consignment.
If you want to sell consignment there are some pros and cons. I want to review them with you, and some things that you want to watch out for.
Some of the pros of selling consignment:
You get new accounts.
You don't have to worry about overhead.
Some of the cons of selling consignment:
You run the risk of getting the product returned to you.
You run the risk of not getting paid.
I have a list of five things to watch out for if you're considering consignment.
The first thing I want you to think about before you decide to give your product to anybody without paying is this:
First - Is the store a good fit?
Does the store you are considering have a good mix of products that your products will blend in with? For example, I'll use candles because I sold candles. You wouldn't want to put candles in a clothing store. You would put candles in a home décor store. Ask yourself, does the store you are considering have products that would compliment your products?
If the mix of products is a fit, you have a higher probability of your products selling.
Second - Is the store in a good location and do they have traffic?
The store needs to have the potential of getting people in the door to buy your products. Is it a good store location and is there traffic?
Third - Set an agreed upon timeline for how long you're going to leave your products in the store until they have to pay.
I've seen some consignment deals go really bad. You assume they will pay in 30 days but 120 days later it hasn't sold and you haven't been paid. At what point are you going to say, "I want my product back?" So make sure you have that timeline in place.
Fourth - What are the payment terms and when they are going to pay you?
I've seen some consignment deals go sideways due to payment terms. Don't assume you're going to get 50% of the retail back. A lot of consignment stores only pay 25% of retail. Make sure that you have it in writing what the agreed up terms are.
Five - Plan ahead for returns and get it in writing.
Have a thorough understanding for returns. I have seen bath and body products just thrown in a box rolling around without packaging. By the time it got back to the vendor, it was all ruined. It had dented bottles that leaked all over and ruined everything in the box.
Make sure there's a clear expectation of how that product is going to be returned. Should it be put back into the original packages? Who is going to pay for freight? Have the terms and conditions written down in your contract for the return.
Now it's up to you to decide if you want to do consignment. I typically don't suggest it. However, if your business is new and. . . you're trying to expand your reach with new accounts, and you know it's a good store, all of the points that I talked about are considered. Then decide, "is it a good fit and is it worth the risk?" Do you think you have a high probability of getting paid? If the answer is yes and you feel good about it, give it a try.
Decide if you are going to sell consignment.
Put a contract.
Ship your products.
What you'll get:
A FREE PDF of 16 ways to market your business.
A plethora of fabulous information and actionable tips sent to your inbox from me.
A lot of good vibes your way from a human being who genuinely wants to see you succeed in your product-based business.
This is a question I get asked a lot....How often can I contact a retail buyer without being too pushy?
Today we are talking about how often you should contact a retail buyer.
You can watch it here or read it below.
How often should you follow up with a retail buyer? I get it, you're nervous. You're afraid of sounding sales-y or being a pain. You don't want to bother the buyer and reach out to him too much.
How often can I contact a buyer?
I say this: buyers get bothered a lot. They get a lot of emails. They get a lot of pitches, but a buyer's job is to find products for the store that will make the store money.
It's okay to send emails to the buyers. It's okay to send one every month. The buyer may delete it if the answer is "no right now." You want to be able to remind the buyer regularly in hopes of catching them when the time is right.
If you're convinced that your product is a good fit for their store, if you're out of sight, you're out of mind. You want to remind the buyer that you're there. If you didn't hear back from them, a month or six weeks later, send them another email or call again.
The practice that I used, I sent the buyer a new catalog in the mail every six months, and then I called every month if I didn't get the order. Nobody ever told me, "Don't call." You know what? If they don't want your products and you talk to them, they'll tell you. Don't be offended by it. It's not a good fit for everybody. You want to find the buyers that it is a good fit for.
A buyers job
Remember, a buyer's job is to find new lines that make money for their store. They care about three things: sales, gross margins, and inventory turns.
If it's a good buyer and it's a good store, they will check you out. Not always the first time, but eventually they will. Get creative in how you approach buyers.
Let me tell you how I landed one of my biggest accounts. We sold candles, and our candles were food fragrances. We sent blueberry muffins to the buyer along with a blueberry muffin candle. The next week we sent sugar cookies along with the sugar cookie candle. Guess what? It worked... we got the order.
It's okay to send samples too. Just be careful not to send too many and give away the farm with it. I sent out a lot of samples. A lot of times if they can see your product and touch it and feel it, then they're more interested in it. Don't be afraid to send out samples.
If this content helped you please feel free to leave a comment, and share it with anybody you think this would be helpful with. If you're ready to take your product-based business to the next level, we would love for you to check out our Product Biz Club. It's our new 24/7 on-demand library with resources for product-based businesses to grow their sales and master their marketing. Go to Product Biz Club and check it out.
Need more ideas to grow your biz? Grab my FREE list of 16 ways to promote your online shop here.
Like it or not peak shopping season is around the corner. With more than 55% of consumers planning to shop in stores and online between Black Friday and Cyber Monday sales volume will be high. Make sure that your online shop gets a piece of those sales.
Last year, U.S. eCommerce revenue set a record $3.34 billion on Black Friday - a substantial 21.6 percent year-over-year growth rate.
More people are increasingly ditching the old way of going to a physical store for their holiday purchases. Consumers are actively spending more time online to search Black Friday promotions.
If you are running an online business, you better have the best Black Friday ideas ready to boost your sales. I'm going to share some sales promotions I have done in my business that have worked for us.
1. Make Your Own Gift Guide- Target specific people as a reminder to those that will be shopping for those people. As an example, teachers, hair dressers, work friends, neighbors, sisters, mothers.
Here is an example of an item targeting specific people out of my husband's gift guide for his business. (law enforcement)
2- Offer A Gift With Purchase - Consider offering your subscribers a free gift with purchase. It doesn't have to be anything larger or expensive. It can be something as simple as a cookie cutter or an ornament attached to it.
3- Offer A Gifts To Go Section - Have gifts wrapped or bundled together to make it easy for the shopper to grab and go. We used simple cellophane bags with crinkle paper in it and a ribbon tied at the top. These kind of gifts are great for neighbor or friend gifts.
4- Run A Door Buster Campaign- During a door buster a particular item or a selection of items is given at a special discount price for a limited time.
5- Run A Mystery Box or Bag Deal- This is a promotion we did all the time during the holidays. I loved running this kind of promotion because it helped us get rid of inventory that we had discontinued or had overruns on production. We made the value more than the cost so it was a win/win for the customer and for us. I have attached an example of how we promoted it in email and on social media.
A few tips to consider while preparing for your holiday sales.
1. Make sure you have an opt-in to gather email addresses of all the people hitting your website.
2. Use the hashtag #blackfriday and #cybermonday on your promotions. A lot of people will be using these hashtags looking for gift ideas.
3. Have an abandon cart app in place to capture abandoned sales.
I have a free training here that you can go watch all about Black Friday and Cyber Monday promotions. It is only 30 minutes and I have over 15 examples of the various promotions along with samples of the campaigns I did in my business. Go watch it here.