black friday

Five Ways to Increase Revenue this Black Friday

Black Friday is no longer what it used to be—a day of profit—for retailers.
The frenzied crowds, the waiting in line, the pitched tents, and parking nightmares are gone. It was found last year that more people have shopped online to cash-in on deals. It seems the retail industry has reached a tipping point and with that an urgent need to prepare for new trends. Here are five e-commerce trends for this Black Friday:

Go Mobile

  • Invest in boosting mobile revenue by ensuring better navigation, one-click purchases, and good website speed. Simple hacks including limiting the number menu items to seven or using a ‘mega-drop-down menu’ perform well with customers. Make sure that the icons used on the mobile website clearly indicate what they mean.
  • Slow websites mean lost transactions. Use reliable and fast hosting servers.
  • Mobile shopping is all about impulse purchasing. Reduce the effort it takes to buy a product. The rule is simple: fewer clicks, better sales.

Three-Dimensional Experiences

  • Offer your customers an integrated 3D experience to promote sales.
  • Pop-ups are good sales tactics because they induce the “fear of missing out” in customers.

Geo-target your Customers

  • Offering different products to different customers according to their locations is essential.
  • Focus on the local market to find more customers by looking at the competition.

Chat-bots and Customer Service

  • Use chat-bot software to stay in touch with your customers 24/7.
  • Chat-bots offer a personalized experience which helps customers to make decisions.

Not just Black Friday but Black November

  • Offer Black Friday sales throughout November. Spread out promotions throughout the month for different customer segments.
  • Try different kinds of promotions including percentage off of a product, tiered discounts, amount off of a product, buy one get one free offer, and percentage and amount off of a product.

Jump on these ideas and get through another sales seasons with great revenues.

 

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