November 24th is right around the corner—we’re talking T-Minus 60 days. With the holidays sneaking up quickly, it’s go-time for eCommerce merchants.
It may seem like we are jumping the gun with holiday planning but According to the National Research Federation, 40 percent of customers begin researching their holiday shopping as early as October.
At BVAccel we take pride in helping our merchants plan for their most successful holiday season. To that end, we’ve put together our top five strategies to help ensure the highest ROI during this busy time of year:
1). Gift Guides:
Gift Guides are probably the quickest and most rewarding way to jumpstart your holiday success since they can essentially be built as a specialty landing page to help guests identify products as gifts.
Why should you build a gift guide? Well, 84 percent of consumers state that gift giving causes stress. But, luckily for us, When the shopping gets tough, people shop online. 43 percent of people plan to purchase more than half of their gifts online this holiday season.
So, how do we help alleviate some of the holiday stress for our customers? We can help them make decisions by curating gift guides.
Don’t just choose your favorite products to include in your holiday gift guide; use data to target products that are either currently popular or were popular last holiday season. Generate reports on the top sellers in various categories and try to find items that would make good presents. Furthermore, it’s important to get a good mix of products in your gift guide to appeal to a broad range of consumers. You probably don’t have only one type of customer, and your holiday gift guide should reflect that. Look back to your buyer personas and make sure your gift guide reflects the variety inherent in them.
Once you create your gift guide, you can look forward to additional holiday profit. Last year, our clients who used gift guides averaged a 3.17 percent lift in revenue from gift guide sales alone. For some, that equated to hundreds of thousands in additional revenue.
2). Countdown Timer
Urgency is one of the core psychological levers marketers use to make more sales and countdown timers accentuate urgency. These timers gamify your website by dramatizing how little time is left to act.
You can warn guests that they need to order within the next 24 hours to get their gifts before December 24th but that’s not nearly as effective as a countdown timer just ticking away…
So how can we use this to increase profitability this holiday? Adding a countdown timer that indicates when a holiday sale will end or when guests need to order to get their gift in time for Christmas is shown to increase conversions on eCommerce sites by between 5 percent and 8 percent
A more creative use for a countdown timer this holiday may be to use them to increase your email sign-up rates. Since you will likely have a large influx of traffic at this time, you can use the timer to create an environment where you are more likely to collect emails so that you can continue to market your products throughout the year. Imagine if your email capture said “Sign-up for our newsletter within the next 5 minutes for 10% off” and included a countdown timer vs. a normal 10 percent off email capture that is available to anyone at any time during their buying process.
OFFER ENDS IN
3). Gift Packaging
There is a large body of research that shows that holiday packaging will be a profitable endeavor; a full 59 percent of shoppers under 45 prioritize sleek and chic packaging as the number one selling point. Who wouldn’t?
And since over 75 percent of shoppers will recommend products they like to their friends and followers on social media, you will want your packaging to be social-ready during the holiday season…remember to “do it for the likes.”
The most profitable benefit of gift packaging is your added ability to effectively merchandise your products. You can increase your average order value by creating gift packages with multiple products. As a company, you spend additional advertising dollars to get guests to visit your eCommerce store over the holidays, so increasing the order value of each of your guests is especially important.
4). Shoppable Flyout
An easy way for you to show off your sales site-wide this holiday is with a shoppable flyout—it’s essentially a widget that lives in a static position and is accessible from any page on your website. Over the holidays, the access icon may be a snowflake that sparkles to draw your guests’ attention. When the guest clicks the snowflake a flyout opens that offers them a series of offers for the holidays.
These offers may include the date your Black Friday sale starts, a rundown of discounts your guests can expect, and a link to your holiday gift guide with information on specially packaged holiday products or gift wrapping options. This is also a great location to create access to your email sign-up if you normally offer a pop-up that guests are likely to close. According to platform experts, the shoppable flyout has shown an average of 5 percent increase in Average Order Value for every guest that converts and also has a proven track record of improving overall conversion rate.
If you want to create a really robust flyout, you can use a platform like AddShoppers to do all the work for you. They also allow you to offer a wider array of features to make the most of holiday sales. For example, they offer a Share With Friends customization. For every four shares, one will convert. They are also able to offer 1 to 1 personalized offers that drive 9 percent more revenue than generic (non-personalized) offers.
5). Gift Wrapping
The opportunity to offer gift wrapping to your guests gets especially interesting when you take into consideration that not only will customers buy more items when you offer the service over the holidays, but you’ll also be making money by the margins that gift wrapping allows. On average, gift-wrapping has +50 percent profit margin per item.
Having gifts wrapped before shipping is becoming more and more popular as friends and family celebrate the holidays apart. With shipping costs on the rise, more guests will be likely to take advantage of a gift wrapping service because they can ship gifts directly to their loved ones without the added cost of shipping after personally wrapping their gifts
In order to properly implement gift wrapping, you will need to make sure you do not send pricing details with an order that is marked as a gift. You should also allow the guest to create a personalized gift message and save addresses in your address book for easy online shopping year over year.
These are just a few of the tips we tell our merchants to try out over the holidays. Whether you are trying to make the holiday shopping experience easier for your clients or you’re aiming to make your product offering/bundling special, always think about being true to your brand.
For more guidance and tips for the holidays, contact us at firstname.lastname@example.org or visit our website at www.bvaccel.com.
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- How To Increase Your ROI and Make The Most Out Of Your Holidays - September 26, 2017