The new financial year is upon us, and as a small-business owner, money might be on your mind a little more than usual of late. Making a strong start to the new financial year can help lay the foundations for growth over the next 12 months for your eCommerce store.
By offering value, high-quality products and services, relying on your existing customers to help you appeal to new customers and making your online store as seamless and user-friendly as possible, you can help to drive more engagement and start the new financial year on a strong note. So, here are a few things to consider.
Some of the best ways to help entice customers into making a purchase is by offering them value in the form of a discount or limited-edition product. This can create a sense of urgency that can be a powerful way to help them make a purchase decision. By making a great offer with a short window of availability, customers could be more likely to take action quickly so they don’t miss out.
You could offer a standard discount, such as 10 per cent, and set an expiry two weeks ahead. You could also offer a discount code that is only available when a certain amount is spent. If your average sale is $30, for example, consider offering a discount that is activated when a customer spends $50, or some other figure over the average sale amount.
Limited edition items that few other people own can hold a big appeal for some. If you’re a clothing designer, for example, you could release 100 t-shirts, after which they’re sold out. A customer’s worry that they may miss out entirely if they don’t act quickly, could help increase the likelihood of them making a purchase.
Once you’ve incentivised your customer with a discount or limited-edition product, testimonials can be an influential way to help finalise a sale. Customers may be more likely to make a purchase if they’ve read relatable reviews from other people who have found benefit in your product or service. Not only can it help customers feel more comfortable about buying the product and service, it can be a good way to boost trust and demonstrate that you listen to your customers and value what they think.
Have you ever wanted to make an online purchase, but changed your mind because the checkout process was a little bit too complicated? You’re not alone. Worldwide, trillions of dollars of online merchandise is abandoned in incomplete shopping carts every year. That’s a lot of money, and emphasises how important it is to nail your checkout process.
Reducing friction in your checkout process can have a significant impact on your conversion rates. Just as you should make it as easy as possible for visitors to use and navigate your website, you should also make it easy for them to buy on your website. Consider eliminating any unnecessary steps or fields in forms, and consider avoiding a time-out feature, making them start over from the beginning. GoDaddy Online Store makes it easy to create a sleek, easy and user-friendly eCommerce website from store to checkout.
While eCommerce today can be competitive, achieving growth for your business to help start the new financial year doesn’t necessarily require groundbreaking tactics. Instead, by offering incentives and making the entire process as simple and customer-centric as possible, you might find your business that little bit healthier, setting you up for a growth year ahead.
Tara Commerford, Vice President and Managing Director Australia & New Zealand, GoDaddy