5 Tips to Increase Online Sales During an Economic Crisis [PART 2]
In the previous post of this 3-part series, we discussed how business owners – the e-commerce businesses – must fix their high cart abandonment rate. Cart abandoners are the low-hanging fruits that can be easily re-engaged and converted on the back of effective strategies. If this metric is considerably high for you, consider getting help from a good digital marketing agency in Kolkata.
If you didn’t read the previous post, please go here and check it out: 5 Tips to Increase Online Sales During an Economic Crisis [PART 1]
Here are other tips to increase online sales during an economic crisis:
2. Get Smart About Pricing
Pricing is much more than just about adding a desired profit margin to the cost price of the product.
A lot needs to go into the process to figure out an ideal price point that attracts and converts. Also, creating discounts and offers demands its own strategic approach.
Many business owners are very reluctant and careless in setting the price of their products. Don’t be one of them! Not at least in these economically challenging times.
Do competitive analysis and find out more about your competitors’ pricing strategies. Take ideas from them. Smartly introduce special offers and limited-time period discounts to psychologically trigger people into purchasing your products.
Thoughtful pricing margin that’s based on the back of hard data can make a big difference in boosting your sales.
So, say goodbye to your static pricing strategy and adopt a smarter approach.
3. Update Your Digital Marketing Copies
A basic sales prompt on your website’s above-the-fold won’t convert anymore.
We’re in an extraordinary time right now that has changed consumers’ behavior. People’s needs and preferences have shifted; their purchasing power has taken a hit as well.
Your marketing and communication copies must be adjusted as well to complement the ongoing changes. This includes everything from your homepage content to social media bios.
For instance, owing to their decreased purchasing power, your target audience might not necessarily be looking to purchase your products. So, making them sales pitch with the same copies might be a bad idea. Instead, if you push them new and topical copies, you can hook them into a conversation, which can be later translated into leads and sales. But foremost, in this case, you need engagement-driven copies.
So, above all, give your buyers’ persona a hard look. Adjust it if needed. And then update your old copies across channels to address the new normal. Of course, while at it, you should also adopt a new content strategy that’s more focused on the current economic challenges. For help with content, hire one of the top providers of affordable SEO services in Kolkata that has a strong content department.
Read Next Part
5 Tips to Increase Online Sales During an Economic Crisis [PART 3]
Audio : 5 Tips to Increase Online Sales During an Economic Crisis [PART 2]