Holiday Season is beginning to pick up, and with it, the potential for business growth and major sales. E-commerce is up 129% year over year in the US as of April 2020. If your business does not have a holiday plan in place, it is not too late to pick up some tricks to take on the season head-on and secure some big gains. Now is the time to get ahead of competition and leverage this E-Commerce opportunity for business. Let’s take a look at 10 of our keys to a successful holiday season:
This E-commerce season will likely see two years worth of growth
This years E-commerce growth is unprecedented as it increases nearly 33%, reaching $189B. Since last season, E-commerce has seen growth over 120% on some days and no smaller than 25% on slower days.
Free shipping as a key differentiator
Typically, around the Holiday Season, shipping costs decrease, however this year, shipping costs will be rising due to the decrease of in-store purchases and increase in shipping traffic. Offering free shipping to online customers can be used to drive sales earlier in the season. Many consumers use free shipping as an incentive to buy and a differentiator between competitors. Another aspect consumers are considering this year is the quality of gift service, such as wrapping and gift guides provided due to the heightened need to ship to other residences and inability to explore gifts in-store.
Value of a visit is expected to increase this year
As more people transition to shopping online, the value of a visit is increasing tremendously. This season, people will be visiting 18% fewer pages and spending 17% less time per order. Order size may not necessarily decrease, but the chances to secure a purchase are diving.
Search engines will be more important than ever
Search will drive a 9% higher share of purchases this season. Social media is an excellent tool for awareness of your products, but consumers are less likely to buy directly from a social media advertisement. This year, more than ever, shoppers are relying on search to find the perfect deal. Organic search is set to see the biggest increase of 12% this shopping season.
Large retailers will drive more sales early in the season, but new customers are moving towards small business
Small businesses are expected to see 22% revenue growth from new customers this season. Many shoppers are anticipating Small Business Saturday this year to support small and local businesses. New customers will be a key segment during this Holiday Season. This year, new customer revenue is up 65% for small businesses and 49% for large businesses.
Flash sales
Flash sales should have a time and date restriction to create urgency. These sales only happen when you say it will and not a moment longer. A lot of small companies lose business to larger box stores and Internet giants this time of year. Focus on a few products and use a flash sale to increase sales and get your customers excited to buy and engage with your brand.
VIP daily sales
Companies that have a rewards or loyalty membership are able to engage their best customers on a personal level. These customers are excited to receive special offers from you and will provide valuable feedback that will help you drive other campaigns. You don’t have to create a totally new sales campaign for your VIPs. Instead, allow your VIPs to receive these special offers in advance of your normal customers. This can be anywhere from a few hours to a day before everyone else receives the offer.
Make use of cross-channel marketing
Use social media platforms like Facebook, Instagram, Snapchat, and Pinterest so you can interact with your customers more. Your primary goal is to tell your story. This allows your customers to be more invested in your brand and close the gap between impersonal and personal relationships. When you nurture these relationships, your customers become brand ambassadors that will share your business with their friends and family.
Make shopping as convenient as possible
Your shoppers shouldn’t have to go searching for something. Keep your products organized and compartmentalized. Your search function should take them to their desired SKU or a list of similar products. Algorithms and search engine prediction tools allow your ecommerce store to engage your customers with items that are related to their past purchases. Leverage your cross-channel marketing by analyzing consumer behavior to predict which item they may buy next time based on what they’ve already viewed or purchased. Lastly, use tracking pixels to follow customers who didn’t complete their purchase and remind them they have a product in their shopping cart.
Live chat and video chat
Some people will have difficulty navigating your site and you should have technical support available throughout their buying journey. One of the most effective ways to solve this issue is to have a live chat function that allows your buyer to ask questions and quickly find an answer from someone at your company. Easy online assistance will help with your conversion rates. The worst thing you could do is lose a customer simply because you weren’t available to answer a question.
There you have it: the 10 keys for a successful e-commerce holiday season. These keys can assist you in generating the largest amount of online revenue in your business’ history this holiday season and in the years to come. For more information on how you can increase your holiday sales or maximize your e-commerce funnel, contact 2:45Tech at (865)-465-4040 or howdy@245tech.com.
