New year, new goals, but still the same results for your marketing campaigns? As a marketer, we put all the hard work to build an effective top & middle marketing funnel, but still don't seem to go further to transform the website user or followers of social media into the last of your marketing funnel, i.e., BoFU or Bottom of Funnel. And, of course, as a marketer, this is what we ultimately thrive for, and below are five ways that have helped me accelerate the sales from interested buyers and also help increase the ticket size/sale value.
1. LTO (Limited Time Offer): Fear of Missing Out (FOMO) plays a significant role in the human psyche, and one of the great ways of transforming consumers into customers who are on the brink of decision-making is through the soon-to-end deals or bid-expiry promotions.
2. Bundle ‘em: Bundling own products or partnering with 3rd party, which aims at selling a higher number of products at a lower price also is a great way to get customer conversions. Especially if you can partner with a 3rd party, it will give you extra leverage with their customer base. You can also look at combining LTO + Bundle deals.
3. Up Sell / Bump it up: Upselling is something that we all might have experienced when walking into a retail store, for example when you are at a fast-food joint ordering burger and fries the staff asks you "Why not make it a combo", the basic idea is to increase the ticket size from a customer, Same can be done for your online sales, When a customer has decided to make a purchase and moves through the sales cycle, just before the confirmation step show additional products that might add value to the customer and his purchase, this helps in increasing your sales ticket size.
4. Pre-Sale Mania: Creating an opportunity for the select consumers to be the first ones to get hands-on the product will strike a great interest and also instills loyalty. Build a waiting list wherein consumers can reserve the product before the launch or even create a group as BETA testers to get the product first and with an attractive price tag.
5. Cart Abandonment: This is one of the biggest problems we the marketers feel. These consumers remind me of the songs “So close, yet so far”, and for such individuals remarketing can play a vital role that you can build via Facebook or Google ads.
Go ahead and include these in your annual strategies and see your sales improve. Want more from your Digital & Social Media Marketing?! Let's connect