An article for online store owners.
Unlocking Million-Dollar Success: Proven Marketing Strategies for Profit Growth
Here are some marketing tools you can use to increase profits during a sale:
- Create exclusive banners for major promotions and place them on the store’s home page. This will help to draw attention to the sale and encourage customers to shop.
- Create a collection of best-selling items in your store as a collection of top products. This will make it easy for customers to find the best deals.
- Set up exclusive coupons for major sales to increase your discount. This will give customers an extra incentive to shop during your sale.
- Set up a gift for new subscribers to increase the intensity of subscriber acquisition. This is a great way to attract new customers and build your subscriber list.
- Offer big discounts on promotions and place discounts on products. This is the most obvious way to increase sales during a sale.
- Create bundles of complementary or similar products based on product characteristics. This is a great way to encourage customers to spend more money.
- Offer a discount if the buyer buys several items in an order. This is another great way to encourage customers to spend more money.
- Combine high unit price products with 5-10 additional low unit price products. This is a great way to increase the average order value.
- Select hot-selling items, set a warm-up period before the sale, and save on sale day. This will help to build anticipation for the sale and encourage customers to shop.
- Send large advertisements to fans and customers through mailings and social media. This is a great way to reach a large audience and promote your sale.
- Ensure adequate stock of promotional items and inventory control for in-store flash sales. This is important to avoid running out of stock during your sale.
- Pay close attention to collecting discount coupons if their usage is low. If customers are not using your discount coupons, you may need to increase the discount or lower the redemption threshold.
- Send reminders to customers who placed orders but did not pay for them. This is a great way to recover lost sales.
- Encourage buyers to pay as soon as possible. This is important to get your inventory moving and avoid cancellations.
- Issue coupons to customers who complete orders. This is a great way to increase your reputation and encourage customers to repeat purchases.
- Encourage customers to leave quality reviews of products in your store. This will help to build trust with potential customers and encourage them to shop.
Example of Preparing for a Sale: AliExpress 11.11
AliExpress 11.11 is one of the biggest shopping days of the year. To prepare for this sale, AliExpress does a number of things, including:
- Creates exclusive banners and landing pages for the sale.
- Selects popular items and offers them at discounted prices.
- Creates bundles of complementary or similar products.
- Offers exclusive coupons and discounts to buyers.
- Sends out email and social media reminders about the sale.
- Ensures that it has adequate stock of promotional items.
- Encourages buyers to pay as soon as possible.
- Issues coupons to buyers who complete orders.
- Encourages customers to leave quality reviews of products.
As a result of these efforts, AliExpress is able to generate billions of dollars in sales on 11.11 each year.
Result: The buyer receives the lowest price for the product during the AliExpress sale in November. The buyer is satisfied.
By using the marketing tools and strategies outlined above, you can increase profits during your next sale. Just be sure to plan ahead and make sure you have everything in place before the sale starts.