Both E-commerce and Mcommerce industry has grown tremendously in the last decade and so has the competition among companies. Companies are now using every tool at their disposal to attract more clients to their sites.
6 Useful Tips For Ecommerce Holiday Marketing
The holiday season provides a great opportunity for these businesses to grow their revenues. It has been estimated that during the holiday period the business’s revenue increase by as much as 60% as well.
Following are the tips which businesses can use for Holiday Marketing strategy: –
Know The Price
Businesses should know what is the right value of a product and what their competitors are offering for the same. Keeping both things in mind the business will have to search for a sweet spot so that they can cover their cost price as well as make a profit from the sale. One of the important factors to keep in mind is that the selling price should be more than the cost price else the company will be at a loss.
Keep A Look For New Customers
New customer experience should be made better than other customers. If the experience is good for a new customer they could become a loyal customer thereby increasing the sales in the longer period. One of the best marketing moves would be to give free shipping or some discount on the first purchase. Do make a follow-up with the new customer to know how their experience was and this feedback can also improve the business.
Use Of Historical Data
Businesses should use Artificial Intelligence (AI) and Machine Learning (ML) to identify the trends and patterns during the holiday season. This can be done by using the historical data of the user and then presenting them the products which they searched for the most or bought most in the past year. This has very good results as people are most likely to buy things which they had bought earlier as they have more confidence in them.
Maintain Good Response Time
The website should not be slow during such a peak time. Businesses should verify their infrastructure and make sure that the website can handle the incoming traffic. If the website even crashes once on any page most of the users would switch to some other e-commerce site. Apart from this, the loading time of the webpage should be less than 5 seconds, any more than that the users will switch. For mobile users, the loading time should be less than 3 seconds as per the study.
Give Gifting Options
During the vacation period, many people would want to gift something to their loved ones. If the product goes gift wrapped that would be much better for the customer. In a survey, it has been found that customers are willing to pay a few extra bucks to get their product gift wrapped. Companies can give out options between different wrapping sheets and charge a few extra bucks, this is additional revenue for the company.
Multiple Payment Options
Every business should have more than just debit and credit card payment options. It has been observed that teens nowadays do not depend on these cards and prefer UPI payments. Many of the older folks would still go for the Cash on Delivery (CoD) option as that’s more convenient for them.
Businesses should consider the above points while they are doing their marketing strategy for the holiday season. Making use of their historical data would be one of the best ways to attract loyal customers for sales and revenues and giving out attractive offers is also encouraged during such times.