1. Discounts
This is a classic method of converting into buyers. Everyone loves a deal and when used effectively can supercharge your sales.
Ways discounts can help:
- Clearing out old inventory
- Promoting new or time-limited products
- Offering an incentive to buy more
Things to be mindful of:
- Don’t overdo it. Your customers may experience discount fatigue if there’s always a discount active on your site. It lowers your brand equity and the perceived value of it if your items are always discounted. Make it an occasion and have a special way to celebrate it. Otherwise your sitewide 10% off may become an expectation.
If you’re looking for ways to experiment with discounts on Shopify, have a free trial of our app here
2. Upsell
This is a technique that suggests an alternative product that better serves the customer’s needs.
Let’s say you have an electronics store (phones, computers, cameras, etc). You can have a decent offering for $1000. But for only $50 more, customers can get double the storage.
By presenting the initial offering as a price anchor, customers will compare the base model price to the cost of upgrading it. In this case, upgrades are a fraction of the original price point. To maximize the value of their purchase, they could get all the bells and whistles.
If the customer opts in to any of these upgrades, then it would be an upsell from their initial choice.
There is much more to be discussed about price anchoring so be on the lookout for another blog post!
3. Cross-sell
This is a sales technique often used for promoting complementary products. In the case of an electronics store, if they are getting a phone then they may want peripherals to accompany that purchase. You have an opportunity to sell headphones, wireless charging pad, etc. since the customers mind is already on purchasing a phone.
If you’re looking for a way to add cross-selling to your Shopify store, please check out a free trial our Upsell app.
It’s a simple and effective method that generates extra revenue for our merchants. We’re developing more ways to interact with your customers to keep them engaged and increase your average order value.
TL;DR
- Use discounts as a marketing resource to generate interest from new and returning customers
- Use upsells to provide better value for customers while increasing the average order value
- Use cross-sells as an opportunity to offer products that would help solve your customer’s initial problem
The online shopping experience has many opportunities to convey value or entice the customer. Our goal is to enable stores to take those opportunities to build a stronger relationship with their customer base. I hope this helped explain different techniques for selling more on your online store!