The current outbreak is wreaking havoc for e-commerce retailers. Some struggle to source inventory, while others experience a significant decline in sales. However, people continue to make purchases online. In light of these uncertain times, we’ve compiled some ethical strategies to boost sales.
Leverage your assets
Every adept online marketer understands the value of contact assets such as email lists, social media followings, and online groups. Now more than ever, it’s crucial to intensify communication with these audiences, especially if sales are dwindling. Send out broadcast emails, engage on social media platforms, offer discount codes, share helpful content, and do whatever it takes to keep your brand top of mind. While times may be tough for some, others still have disposable income, particularly as they are unable to spend on activities like dining out or attending events.
Introduce new products
If your current product lineup isn’t resonating with consumers, consider sourcing new items to remain competitive in the short term. Although sectors like fashion are experiencing a downturn, there may be opportunities to create coronavirus-related merchandise that aligns with your brand’s identity, such as humorous t-shirts.
Offer subscriptions
Many e-commerce businesses have experienced a surge in sales since the onset of stay-at-home advisories. This period has been particularly lucrative for sectors such as home and garden, DIY, health and beauty, and home gym/fitness equipment. If you’re acquiring new customers, consider implementing subscription services to ensure ongoing revenue streams.
Support others and share your stories
While the coronavirus pandemic has brought about immense hardship, it has also inspired acts of generosity and solidarity worldwide. Consider how your business can genuinely assist others during these challenging times. Share your efforts through press releases, social media posts, and videos, but refrain from exploiting the situation for sales gains.
Expand your sales channels
If your sales have been affected by the pandemic, now is an opportune time to explore additional sales channels. There is a plethora of marketplaces and platforms worldwide that could potentially attract new customers to your business. However, be sure to invest in multichannel tools to streamline order fulfillment and inventory management.
Align with high-performing verticals
While certain sectors may be struggling, others are thriving. Look for ways to associate your products with high-performing verticals, even if it requires a creative approach. Utilize social media, adjust product descriptions, and forge partnerships to capitalize on emerging trends.
Maximize existing sales
Every sale is crucial during times of uncertainty. Focus on maximizing the value of each transaction by implementing instant upsells or cross-sells. Follow up with customers through email marketing to encourage repeat purchases.
Invest in content marketing
If immediate sales growth seems challenging, consider investing in content marketing initiatives that will yield long-term benefits. While content marketing may not yield immediate results like PPC ads, it can generate consistent traffic to your e-commerce store over time.
In conclusion, while the current situation presents significant challenges, it also offers opportunities for e-commerce businesses to adapt and thrive. By implementing these strategies and remaining agile, your business can navigate through these uncertain times and emerge stronger on the other side.