Today, I will be discussing how you can maximize your holiday revenue.
In order to maximize holiday revenue, first we need to understand the mindset of holiday shoppers. I am going to over simplify the segments of traffic into three buckets:
- The “I know what to get them” segment of gift givers that have their act together, actually listened to their friends and family members and would like to simply pick up the gift at the best price and best shipping rates, preferably free shipping. This group most likely includes the care givers and planners in our lives that make living life worth while for the rest of us.
- The second group includes those that need to buy something for someone else, but didn’t do so great on listening the whole year and have no idea what to get them, either that or they really don’t know the person yet. As an ecommerce store owner this is the group you can influence the most.
- The third group simply needs to make themselves feel better by buying a gift for themselves. Don’t ignore this group, because over 42% of the gift buyers buy something for themselves to a report on MarketResearch.com. Source:(http://www.marketresearch.com/Mintel-International-Group-Ltd-v614/Gift-Shopping-Habits-UK-2554503/) and Source (http://www.marketresearch.com/Mintel-International-Group-Ltd-v614/Holiday-Shopping-6488455/) This group may be a little harder to influence.
Now let’s discuss simple tactics to ensure your store has a healthy holiday season.
It may be too late to implement new graphics and banners on your site, or new email campaigns, etc., so I will keep this list to 3 simple tactics you can take to influence your sales this holiday season
Upsell, upsell, upsell by focusing the shopper on other products they could buy on the product page and checkout pages. This way you can satisfy all segments by giving them ideas for themselves, for others on their list and those that didn’t know what to get someone. Make sure you not only turn on your upsell/cross-sell system but also highlight it with an accent color or draw attention to it through a special message or graphic if you have time and resources. You can also encourage upsells by giving them free shipping if they buy more than one product or reaching a certain order value.
- Provide an easy way for your users to shop for gifts and get great gift ideas. Make this messaging prominent and standout on your homepage, category and product pages. Create a special page for gift buyers, use a gift finder tool or simply label your best selling products as great gift ideas. This tactic focuses on the “I don’t know what to get them” segment. We have seen upward of 40% usage rates of these gift finder tools during the holidays. That means over 40% of your traffic could be in this segment and if you take your customers to the right pages with the right gift ideas, your holiday season could be very rewarding!
- Help them if they need it, but don’t get in their way if they don’t.
- Make it easy for customers to call or click a live chat window. Staffing extra employees during the holidays to handle phone sales, support and chat boxes may be costly and hard to train and manage, but could make a big difference in your overall sales.
- Sometimes people just need to talk to a live person to find the perfect gift for their loved ones. “Oh I don’t know what to get my Mom, not really sure what she wants this year…, the customer service rep may say: “Oh, does she have a Seltzer water machine for her kitchen?” It’s a great way to save money making her own seltzer water, and no calories and fat compared to drinking coke. “
This may surprise you, but removing distraction for those that know what they want or found what they want can go a long way of increasing your sales.
- That means removing unnecessary distractions on the product pages and checkout pages. Once they reach this level most likely they almost or already have found what they are looking for.
- This does not mean you shouldn’t try upselling them.