Strategize for the future: How consumer insights can boost sales
Insights help retailers shape selling strategy around digital buying trends, as well as determine when and how to market to customers. Here are a few tips for cashing in this holiday season:
1. Effectively schedule discounts and promotions
Seasonal campaigns are an effective way of driving sales, and if you already know what products people will be lining up for, you can feature them before any other competitors. While it can be a tricky game to pick which promotions to highlight, utilizing data-based insights can help take the mystery out of it. Offer a time-sensitive holiday discount or a great BOGO sale on trending items for the season. This not only creates a monetary incentive, but also fosters a sense of urgency among consumers, making them less likely to search elsewhere for the same products. After all, 93% of shoppers will use a coupon code at least once during the year.
2. Share it on social
Consumers gather on social media, so sharing the latest deals or trending items through influential platforms like Twitter, Facebook, Instagram, or Pinterest is a powerful way of reaching an audience. Get creative — use pictures, hashtags, or videos to tell the story of the product you’re selling.
3. Ship it on time
Offering the best deals on express shipping can give you an edge over other retailers during a time-sensitive buying season. Retailers who fail to deliver (literally) can risk losing sales to other merchants, like Amazon or Walmart, who do. Alleviate potential concerns by incorporating “guaranteed delivery before” information into your site, and ensure your shipping logistics can achieve those guarantees.
Connect with your audience: Engaging online customers through publisher networks
Being able to predict what products will be popular empowers publishers at authoring time. It’s all about providing quality content that gives consumers what they want, when they want it, because as we know, publishers are now equally focused on the integrity of their pieces and monetizing their content. By understanding digital buying trends, retailers can work with publishers to:
1. Offer increased affiliate commission rates for trending items
It’s a win-win — you’ll generate more sales and the publishers that link to you will benefit from additional commissions. By boosting your commission rates for high-performing products, publishers will be eager to include your links in their content. This is a risk-free way to sell through sources your customers know and trust. Offering great deals to publishers also forges strong relationships with your publisher network, making them more likely to link to your site in the future.
2. Get personal with sponsored content deals
Sometimes, the best way to secure conversions is to communicate about your brand through a specific publisher. With consumers bombarded by company after company trying to convince them their brand is best, it has become increasingly important for companies to differentiate themselves in an authentic, personalized way. As authorities trusted by loyal audiences, these publishers have the credibility to promote products with the clout and effectiveness some consumers need to be spurred to purchase. What better way to reach a community of consumers than by working with their favorite blogger?
You don’t need a crystal ball to predict how customers will behave. Allowing purchase insights to shape your selling strategy can significantly boost your sales this Q4, but these tips aren’t unique to this annual shopping event. It’s a data-driven world, and the companies who follow digital buying trends will be the first to take advantage of the growing e-commerce industry.