Upsell vs Cross-sell: Meaning and Benefits
Upsell and cross-sell are as important as reaching out to new customers. Yet, if you are new to the eCommerce industry, you might not know much about it. Don’t fret. This article will expound on cross-sell vs. upsell and the benefit of cross-selling and up-sell for your business growth. Upsell and cross-sell are the art of suggesting upgrades or additional items for a purchase which can enable the growth of average order value (AOV) with relatively small marketing efforts. The customers are already interested in your brand and products. Therefore, it is simply your job to present relevant products or upgrades at the right time and right place. If the technique is done poorly, you can come across as an aggressive salesperson. What is upsell and cross-sell? Upsell meaning Upselling is the sales tactic in which an eCommerce seller convinces customers to buy a product at a higher volume, size, or other related adds-on. The most common method is to suggest an option that was perhaps not considered by the customer before with the aim of making more revenue out of an existing customer. Cross-sell meaning Cross-selling is the method of selling additional products or services to an existing customer when they are shopping. This generates more revenue by showcasing products related to what the customer is currently looking for. While it is a good technique, it comes with the risk of disrupting the current product is trying to buy. Furthermore, your cross-selling offer shouldn’t be too pressing and intrusive. Remember, your primary objective is to retain your customer and for them to come back to your store. The benefit of upsell and cross-sell Increase revenue The revenue rises from implementing cross-sell and up-sell can be clearly seen while doing your accounting. If you initiate an effective upsell and cross-sell strategy, you can increase your revenue and profit remarkably. However, remember to moderate whatever strategy you decide to implement. Create a better customer experience We are in the era of personalization, and customers want businesses to proactively offer relevant product recommendations when they shop. However, human agents can’t always make product recommendations and answer customer queries. In other words, it’s almost impossible to maintain a 24/7 assistance system with humans only. Therefore, you can leverage live chat software to provide a better customer experience. Recent studies show that companies that offer live chat experience an annual increase in upselling and cross-sell revenue. Another solution is to employ an automation platform to gather information and personalize every message without you looking at each individual customer. Increase Customer Lifetime Value The rationality behind the upselling and cross-selling technique is based two-fold. Firstly, it enhances customer loyalty and your brand credibility. A customer who agrees to buy your upsell or cross-sell item is more likely to become your loyal customer and even customer advocate. Secondly, it makes your store the one-stop-shop solution for whatever product they need. Upselling and cross-selling allow your customer to look through different effects on your store and choose those they want to buy. In other words, they can get all products in a convenient and centralized place. It is essential to choose the right eCommerce app that can improve customer buying experiences while boosting average order value (AOV). There are tons of free BigCommerce apps executing cross-selling and upselling to your customers such as Order Booster. The all-in-one solution that can increase your store AOV with pre-purchase cross-sell and upsell, product recommendation, quantity, volume upsell, etc. It is best for you to try out many apps to find the best one. Conclusion Are you thinking of upselling or cross-selling? The primary reason for cross-selling or upselling is to increase the revenue and profit of your store. In short, it can help you: Increase your conversion rates Improve your customer experience Promote product innovation Retain existing customers
Tips To Increase Sales Page Conversion Rate
The average eCommerce conversion rate is 2% on every sales page. It means for every 100 visitors that come to your website, you can expect to get 2 customers. However, most websites have a much lower conversion rate, approximately 0.1 to 0.2%. What this means is that for every 1000 visitors to your website, you get 1 customer. The question now becomes how do you boost the conversion rate of your sales page? To help you, we will unveil some ways to boost the conversion rate. In-depth customer understanding Your customers are the core component of our business growth. To improve your conversion rate, you need to understand your customers and build a relationship with them. This not only includes their demographic information but also their psychological states and behavior intention. You should also segment your customer into different groups with distinctive advertising and nurturing treatments. Once you understand what can trigger certain kinds of behaviour, you’ll be able to drive more effective campaigns to build trust. Create attention-grabbing headlines and images The first thing anyone would see on your website is the headlines and images. A good first impression can guarantee that customers continue scrolling through your site and might find something interesting. Therefore, it is highly recommended to have attention-grabbing headlines and high-quality images to illustrate your brand and products. Add testimonials Any strong argument about your product would probably be considered fraud without real evidence. Testimonials, case studies, third-party reviews, and social proof are all good examples of how people perceive your brand. Hence, don’t forget to create a unique page or at least a section for this type of content. Use responsive layouts The number of online shopping via mobile devices has increased by 74% these days. That’s why it’s even more important for your website to be responsive. Otherwise, you’ll risk losing many customers. Use responsive layouts, especially those that involve sales pages. You don’t want your customer to abandon their cart because of unattractive design. Showcase additional benefits Another simple way to boost your sales page conversion rate is to provide additional benefits to your customers. A discount on the next purchase or related product is also a chance to promote cross-selling. An alternative choice is the referral program. One company that does it perfectly is Uber – refer a friend, and you get a free ride. Use multiple CTAs If your website runs a long-form sales page, you can use multiple CTAs. There is nothing wrong with doing that. Nevertheless, make sure that all CTAs lead to the same end behaviour. The purpose is to reinforce what you want your customers to do continually. Using multiple CTAs reminds them why they are on the page. They can decide when to take the bait – at the start or end of the page. Implement automation Another way to accelerate conversion rate is through constant engagement with your customers on the sales page, which can be perfectly done by integrating your store with an automation platform. The app will make sure that your customers receive the right information in the right place at the right time. All you need to do is preparing the best content possible and leave the distribution to the platform. For example, once noticed that a customer is likely to abandon their cart, the app will automatically send a reminder, probably with a personalized discount code. This not only reminds them of their shopping experience but also successfully incentivizes them to make a purchase. Final note Boosting your conversion rate is an essential part of getting more sales for your eCommerce store. Yet, optimizing your website requires a lot of work. Furthermore, there are several ways you can boost your sales page conversion rate. In this article, you have every piece of information you need to improve and increase your conversion rate without investing much.
Automotive Inventory Planning for Holidays 2021
Online vehicle shopping is on the rise recently, with the number of purchasing cars increased by 30% compared to the previous year. Given this progress, development in inventory planning is extremely important for automotive retailers to get back at the game. It is noteworthy that the purchasing power is still relinquishing due to the current economic recession. Buying a new car is definitely not the top-of-mind spending right now. Yet the health and financial concern doesn’t stop the progress on the way. As the United States slowly gets back to business, consumer confidence is rising constantly. The good news is the Memorial Day Weekend is coming soon. This is known as the major car buying holiday with substantial value sales in most areas. However, the main concern is how to take advantage of the Memorial Day Weekend 2021 given the current situation. In this article, we have gathered some trends that might exert tremendous impacts on this Memorial Day. Holiday travelers won’t fly The Memorial Day Weekend is a traditional holiday for car purchasers. Given the social distancing rules, people are likely to stay home rather than take a flight to grace a vacation. the situation seems dooming. Yet, for car dealers, that is a positive sign local businesses will be opened and ready to welcome customers. Additionally, there will be vehicle delivery plans as most purchases done through websites. According to Autotrader and Kelly Blue Book, there are over 12,500 car dealers offering home services these days. New vehicle inventory is tight Since last March, most vehicle factories have been shut down, with only a few restarting. What it means that the new vehicle inventory is low. Once the inventory is low, it means consumers have less choice to make from different brands. High-interest rate Another thing to consider is that interest rates would be high for most buyers. Notwithstanding the position taken by the Federal Reserve Bank to reduce interest rates, auto loan rates have stayed still. The 0% deals that accounted for over 21% of sales a few months ago are still available for buyers with a good credit score. However, subprime buyers and shoppers with low credit scores are not getting the needed support. Used-vehicle inventory is good enough Although the inventory for a new automotive might be tight, the figure is different for a used vehicle. Sales for used-vehicle is on the rise as people are looking to cut cost. If you’re lucky enough, you can have a good car at a cheap price. In other words, second-hand products might be a good choice to save money. Despite the situation, there is every indication that Memorial Day Weekend will experience good auto sales this year. Don’t miss out on your chance As Memorial Day heading on, the top priority is to get yourself prepared for multiple situations. The best way to grasp a deal is to serve the best of your customers when they come to you online. To do this, integrate an automation platform into your store. The app will help you streamline your inventory management planning in the automotive industry. For example, you can set up a workflow to publish sales categories when the holiday comes and withdraw them from the site after a day. This helps you get rid of repetitive tasks and focus more on your sales strategies. Install Atom8 Automation today and enjoy your Memorial Day sales!
Automated Email Ideas For Maximum Impacts
Email marketing is an essential customer retention tool for online business owners. However, most online retailers don’t know how to leverage automated email in their business. Today, email marketing provides the highest performance in terms of return on investment. Because of this, most companies are contending to get the attention of their customers through their email. What is email automation? Companies use email automation to send targeted messages at selected times or based on specific actions to build personal relationships with their customers. Email marketing can boost your ROI by 4200%. With automation, it is even more effective for you can use the analytics to get your online store’s right cadence. There are numerous benefits when it comes to email automation. Some of these include: Maintain a consistent brand identity Allows you to grow your subscriber list Increases conversion rate Keep you in the mind of your customers Increase open and click-through rates Essential automated email ideas for your business Now you know the benefits of having an email marketing automation process, you need to learn how to leverage an automatic email system to get more customers. In this section, we will share 9 essential automated email ideas for your online business. Order confirmation, shipping notification A message from a store contains much more than a digital receipt. Order confirmation and shipping notification assure customers that the store has gotten their order. Furthermore, it strengthens the confidence that their product will be shipped as soon as possible. Cart abandonment Many online store owners understand how dreadful it can be when they receive notifications on cart abandonment. There are several disturbing factors that stop a customer midway through a purchase. Therefore, an automated cart abandonment email is the best way to remind them of the amazing offers they are missing. Product recommendation At times, customers find it hard to choose the right product. A product recommendation email describing the features and benefits of a product would go a long way. Most customers don’t have the time to perform rigorous research on the product of their choice. Thus, automated product recommendation emails will make it easier for them. Educational contents Automated educational content can help you build rapport with your customers. You should center the content on our brand and how you can empower them to get the best of the product. These educational content can be product use ideas, best practices, and innovative ways of doing things. Upsell offers You can get your customer to spend more by sending them an automated upsell offer email. Its ultimate goal is to increase your revenue while establishing a unique pattern of repeated purchases. Welcome email Once someone registers or signs up for your emails, make sure to send a welcome email informing them of the benefits to stay on your email list. Don’t use one welcome email; instead, create a series of welcome emails that would make the customer think about your brand. Promotion triggered by time/behavior Create promotions through email marketing that are triggered by their behavior or time. From here, you can decide which product they need most. Re-engagement Re-engagement emails allow you to reignite the interest of your customers. Some subscribers might ignore your emails at times, but creating an automated re-engagement message can help bring them back. You can offer a discount, free product, or an opportunity to win something. Ask for reviews To improve your customer service, you can use automated emails asking for reviews of products used. Based on their review, you can decide if the product is worth continuing or not. When asking for reviews, don’t forget to appreciate their honest evaluation of the item. Foster email automation with Ergo All in all, it’s undeniable that email marketing plays an important role in business development. However, a huge audience and multiple types of content can make it daunting sometimes. Therefore, businesses are turning to automated email marketing platforms. Ergo Automation is one of the workflow automation apps that benefits personalized and behavior-based email activities. The app captures customers’ information when an order is placed, stores them in your CRM, and automatically retrieves them to use in your email campaign. What’s more, Ergo can be integrated with email marketing tools such as Mailchimp and Klaviyo for better performance. This way, you can centralize your email marketing efforts without switching between different platforms. Be sure to check out the app so as to boost your email marketing productivity.
