After starting the e-commerce business, it's just about getting the targeted traffic to the store.
To convert your marketing efforts into sales, you need to define the user journey by building an absolute user experience that persuades them to make the purchase. It's just the marketing strategy that insists the user buy the product. Once you are able to attain a good level of sales, the next step would be to maximize the average cost per order.
There are numerous proven strategies in the market that can result in increased cost per order. Let's discuss two major strategies for that: The up-sell and cross-sell.
Before discussing any strategy, let's have a look at what these strategies actually mean.
In simple terms, upselling is the practice of making the customer spend more money by purchasing the "higher version" of what they initially wanted to purchase. On the other side, cross-selling is the practice of offering related products with the aim to make most out of a single transaction.
Regardless of your niche, the e-commerce store owners should include the up-selling and cross-selling for sustainable growth.
With the medium of this article, we will discuss some major strategies that you can implement to increase the average cost per order. Let's jump into it.
1. Smartly Display Related Products
The mother rule for cross-selling and up-selling is to showcase your most relevant products as possible. It may sound simple, but there can be some complications as well while displaying the related products. The thumb rule behind this is to make sure that none of the related products spoil the user experience.
Related products could be displayed on the basis of categories and attributes. For instance, let's take an example of Magento Store.
In this case, there is an extension such as Auto Related Product Magento Extensions that enables the store admins to display auto-related products on the basis of categories and attributes. In this Magento 2 Extension, there is no need for the admin to define the particular products for display. The admin just needs to provide the categories and attributes. That's all and the related products will be displayed.
2. Email Automation
This is yet another effective cross-selling and up-selling methodology. It involves the use of email autoresponder to automate an email right after the customer completes the purchase.
There are numerous email marketing tools that provide the facility of automation workflow that triggers just after the sale. In addition to the follow-up emails, other automation templates can be used for up-selling and cross-selling the products such as timed emails for the lapsed customers, site visitors, and shopping cart abandoners.
Besides this, email automation can be used to promote special discounts or coupons to further motivate customers to grab the opportunity. This is one of the great ways to build customer loyalty along with boosting sales.
3. Leverage Social Proof
When it comes to customer loyalty, nothing beats having a social presence.
The social proof comes in multiple forms such as customer reviews, social media mentions, likes, shares, followers, etc. At the initial level, it takes more efforts to break the ice and come into the play (or turn up the heat). Once you have a network of a few thousand users, then it's only the branding efforts that have to take care of.
The social proof is an indirect way leading to up-sell and cross-sell. In eCommerce, there are good chances that the customer uploads reviews on the social profiles. This indirectly leads to branding and building customer loyalty.
4. Improve Your Loading Speed
Providing sheer user experience is an essential concern for every online business. Always remember that the majority of online shopper will at most wait for 4 seconds to jump elsewhere. It's this short span of time that can turn the prospects into customers.
Here, leveraging visitors with sheer user-experience comes into play. So, this is one of the most crucial tasks that need to be taken care of.
Luckily, optimizing the website's performance isn't rocket science. There are numerous tools in the market that can notify you about the pitfalls and the areas of improvements for your website. You can utilize any of these tools and improve the performance of your website.
Pro tip: Always try to optimize your website with loading time up to 2 seconds.
5. Understand What Your Audience Wants
Suggesting/recommending the up-sell/cross-sell product isn't as easy as it looks.
This generally involves the CRM software to track customer activities on the website, their wants, needs, preferences, etc. The detailed analysis of these factors that can lead to the tailored user experience providing the highly targetted up-sell/cross-sell products that increase the average cost per order.
6. Set and Track KPIs
All marketing efforts should always have a data-driven approach.
Keep tracking the data to identify Key Performance Metrics (KPI). These KPIs will be the driving force of decision-making and thus growth.
For instance, let's take an example of Google Analytics (one of the best tools for tracking). In the case of eCommerce, you need to configure your goals based on action, landing page, time spent, pages navigated, and so on. This user behavior flow is a prime concern.
This Google Analytics data then should be used to formulate the strategies, do's and don'ts.
Conclusion
In eCommerce, you should not hesitate to implement new and customer-centric strategies to generate sales revenue.
The strategies discussed above should help you to get up-sell and cross-sell of your products thereby increasing the average cost per order. Definitely, it won't yield overnight success but if you proceed step by step, you should begin to see tangible results in no time.
For more Magento 2 Extensions, visit www.evincemage.com now!
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| How to up-sell/cross-sell products? |
There are numerous proven strategies in the market that can result in increased cost per order. Let's discuss two major strategies for that: The up-sell and cross-sell.
Before discussing any strategy, let's have a look at what these strategies actually mean.
In simple terms, upselling is the practice of making the customer spend more money by purchasing the "higher version" of what they initially wanted to purchase. On the other side, cross-selling is the practice of offering related products with the aim to make most out of a single transaction.
Regardless of your niche, the e-commerce store owners should include the up-selling and cross-selling for sustainable growth.
With the medium of this article, we will discuss some major strategies that you can implement to increase the average cost per order. Let's jump into it.
1. Smartly Display Related Products
The mother rule for cross-selling and up-selling is to showcase your most relevant products as possible. It may sound simple, but there can be some complications as well while displaying the related products. The thumb rule behind this is to make sure that none of the related products spoil the user experience.
Related products could be displayed on the basis of categories and attributes. For instance, let's take an example of Magento Store.
In this case, there is an extension such as Auto Related Product Magento Extensions that enables the store admins to display auto-related products on the basis of categories and attributes. In this Magento 2 Extension, there is no need for the admin to define the particular products for display. The admin just needs to provide the categories and attributes. That's all and the related products will be displayed.
2. Email Automation
This is yet another effective cross-selling and up-selling methodology. It involves the use of email autoresponder to automate an email right after the customer completes the purchase.
There are numerous email marketing tools that provide the facility of automation workflow that triggers just after the sale. In addition to the follow-up emails, other automation templates can be used for up-selling and cross-selling the products such as timed emails for the lapsed customers, site visitors, and shopping cart abandoners.
Besides this, email automation can be used to promote special discounts or coupons to further motivate customers to grab the opportunity. This is one of the great ways to build customer loyalty along with boosting sales.
3. Leverage Social Proof
When it comes to customer loyalty, nothing beats having a social presence.
The social proof comes in multiple forms such as customer reviews, social media mentions, likes, shares, followers, etc. At the initial level, it takes more efforts to break the ice and come into the play (or turn up the heat). Once you have a network of a few thousand users, then it's only the branding efforts that have to take care of.
The social proof is an indirect way leading to up-sell and cross-sell. In eCommerce, there are good chances that the customer uploads reviews on the social profiles. This indirectly leads to branding and building customer loyalty.
4. Improve Your Loading Speed
Providing sheer user experience is an essential concern for every online business. Always remember that the majority of online shopper will at most wait for 4 seconds to jump elsewhere. It's this short span of time that can turn the prospects into customers.
Here, leveraging visitors with sheer user-experience comes into play. So, this is one of the most crucial tasks that need to be taken care of.
Luckily, optimizing the website's performance isn't rocket science. There are numerous tools in the market that can notify you about the pitfalls and the areas of improvements for your website. You can utilize any of these tools and improve the performance of your website.
Pro tip: Always try to optimize your website with loading time up to 2 seconds.
5. Understand What Your Audience Wants
Suggesting/recommending the up-sell/cross-sell product isn't as easy as it looks.
This generally involves the CRM software to track customer activities on the website, their wants, needs, preferences, etc. The detailed analysis of these factors that can lead to the tailored user experience providing the highly targetted up-sell/cross-sell products that increase the average cost per order.
6. Set and Track KPIs
All marketing efforts should always have a data-driven approach.
Keep tracking the data to identify Key Performance Metrics (KPI). These KPIs will be the driving force of decision-making and thus growth.
For instance, let's take an example of Google Analytics (one of the best tools for tracking). In the case of eCommerce, you need to configure your goals based on action, landing page, time spent, pages navigated, and so on. This user behavior flow is a prime concern.
This Google Analytics data then should be used to formulate the strategies, do's and don'ts.
Conclusion
In eCommerce, you should not hesitate to implement new and customer-centric strategies to generate sales revenue.
The strategies discussed above should help you to get up-sell and cross-sell of your products thereby increasing the average cost per order. Definitely, it won't yield overnight success but if you proceed step by step, you should begin to see tangible results in no time.
For more Magento 2 Extensions, visit www.evincemage.com now!
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