3. Increase your average order value
Every time you’re in a queue at the shops, you’ll see the sweets and magazines specifically placed to encourage impulse purchases and increase the value of your order. Imagine how much those R25 impulse purchases add to the company’s overall annual turnover!
If you’re not already doing this on your website, it’s a simple addition that can lead to an overall increase in sales. There are a number of ways to encourage customers to increase their order value. Depending which website platform you’re on, there are a number of plug-ins and apps which recommend up-sell and cross-sell products. You can structure bundle deals, offer buy-X-get-Y deals or you can offer a gift with purchase if the customer upgrades to the more expensive alternative.
If you offer free shipping on orders over R500, then you prompt customers to add something to their cart when they’re buying something for R450. This works exceptionally well and helps to drive up the average order for your store.
4. Leverage marketplaces to grow your sales
Instead of seeing the big retailers as our biggest competition, we can now start using them to our advantage. By listing and selling your product through marketplaces (like Takealot, Loot, Makro and Bid or Buy), you can get massive exposure for your products to the millions of people that visit these sites regularly. As a result, you may be able to significantly grow your sales.
Some entrepreneurs are hesitant to list their products on marketplaces because of the fees involved, and because they don’t want to cannibalise sales on their own sites. But the truth is that customers who buy from big marketplaces probably wouldn’t have found your site independently, so these are sales that you wouldn’t have had otherwise. Of course, it is important to check that your margins allow for you to sell through the marketplaces and still make a profit at the end of the day.
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