If your small business is not growing as fast as it should be, you must take note of these five business ideas that will drive your sales.
While it takes a lot of time, effort and money to start an online business, some entrepreneurs find it disheartening to experience a drop in sales soon after launching their store. Here are five ideas that can get your sales up again.
1. Bundle Your Products
When you package complementary products together, you can often manage to sell two products to a customer that otherwise would have only bought one of your products. A study from Harvard has proven that the strategy works. You can bundle two products and sell them at a discounted price or with added value. Especially when it comes to holidays, people seem to buy more bundled products and you can sell them in a gift box.
2. Collaborate With a Business Partner
The internet can feel like a lonely place when nobody is buying your products. Try to partner up with like-minded businesses and see how you can help each other. Maybe there is a way you can both push each other’s services on social media or make a plan to open a pop-up store together in your town.
3. Implement Software to Your Business
There can be many reasons why you are experiencing a sales drop. Maybe it is because you’ve been targeting the wrong audience or you’ve spent more time shipping orders than actually selling your products. If that is the case (or you fear that it could be the case when times get busier again) you should consider implementing production scheduling software to your business, which can take care of your operations. While it automatically takes care of that, you will have enough time to research a better marketing strategy or step up your social media game.
4. Show Customer Testimonials
If your website is fairly new, people might not trust the products you sell 100%. The problem is that it takes time to get good reviews and so you have to come up with a different strategy. A good option to get some real testimonials for your website is to ask your customers to answer a few questions right after they have received their product. Additionally, you could run email campaigns to send out requests for testimonials.
5. Reduce Shopping Cart Abandonment
Don’t worry, you are not alone out there when it comes to the problem of shopping cart abandonment. But implementing some simple strategies can help improve the check-out process on your website. First of all, eliminate any unnecessary steps that could stop a customer from buying. For example, is it really necessary that they create an account before they can buy a product? Make it as easy as possible for your visitors to navigate your website and buy the products from there.
It can also be helpful to add a chatbot to your store that guides your customers through the check-out process. Since it is available 24/7, it can answer product related questions or offer discounts.