When was the last time you had a detailed look at the Ecommerce analytics that you are using for your store? Do you give importance to the marketing stream and the outcomes that it will give you for the months to come? If your answer is no, then you need to take a look at these 4 options that can help you generate more revenue in the long term.
- Set Up A Coupon-Less Program
To start with, make a list of the customers who are regular buyers at your store and who buy on regular basis even if there are no promotional schemes or discount. After making the list, send these customers’ loyalty emails showing this particular customer segment your newest products before other customers get to know about them. This will make your regular customers feel special and they will have an option to get the newest goods before the stock runs out. However, you need to make sure that you are giving three to four days to the customers to open mails before you push these items up on your social media page.
- Set Up A Minimum Order Value
You also have an option to set up a minimum order value that will make free shipping option available to the customers. You have to move with smart pricing in order to save your margin at each product and configure the hit you are willing to take.
- Offer Coupons And Discounts For Slow Moving Inventory
There is no denying the fact that your store might be full of items that sell on a very slow pace and in order to speed up the sale process of those items, you can offer additional discounts on them. The more you are going to keep the slow moving inventory in your store, the more it is going to cost you money. Offering discounts and coupons for these items will help you to clear them out, making space for new items that you can put up for sale.
- Setting Up A Program For Low Value Customers
Make a list of the customers on your store that have low average order value. You can target these customers by offering them more discounts and offers. Gather customer emails that have enquired about the next sale or discount and send them mails regarding the next price cut on items. You have to keep the fact in mind that you need to take of customers from all the segments as you cannot afford to lose the segments when it comes to online shopping. Encourage customers to tell their friends about your store and offer them more discounts if they get you more sale by sharing the site with friends.
