A basic skill for any e-commerce business owner is to take a product and turn it into a fast moving product. Here’s six steps to help you sell more online, writes Stephen Foxworthy.
Selling more product is a top goal for retail professionals and for any e-commerce venture – especially start-ups – being able to implement techniques to achieve this goal is integral to future success.
‘Fast movers’ are the key to maximising revenue from your online store.
These are the popular products that draw customers to your store, encourage them to buy and give you the opportunity to attract a customer for life.
Some products will always be popular, but how can you turn them from simply being in demand to becoming the high-performing engine room of your online store?
Keep an eye on your sales reports, and when you see a new product begin to sell in volume, pounce on it.
Here are six steps to create ‘Fast Movers’:
- Make sure the product images are as good as they can be. Add more images or shoot new ones if they can be improved.
- Do you have product videos? Add short videos highlighting the product features and benefits
- Do you have any customer ratings or reviews? If not, start gathering them – This can be as easy as asking previous purchasers for some feedback via email, but it should be a part of your post-purchase customer experience, with automated satisfaction and review surveys
- Check the product descriptions and features – Can you enhance them? Add to them? Features and Benefits (FABs) are critical to convincing a customer to buy
- Are there other products you could recommend that might appeal to a customer buying this product? Use your ‘fast movers’ to help add to your average order value by merchandising similar or related products
- Don’t assume you will always know why these products are becoming popular – Actually speak to a customer who just bought one. The best insight into your product merchandising is customer feedback. You’ll also gather great feedback on their shopping experience.
You should try and identify any contributing factors to a product’s popularity, and then boost these as much as possible for each high volume or high margin item in your catalogue.
Most e-commerce managers don’t have the time to do this for every single item, so it’s important to focus on those few that will have the most impact – the ones that are just starting to become top sellers.
If you can identify the factors that are driving demand, you’ll be able to spot the ‘fast movers’ early and take advantage of their popularity to drive your sales volumes and revenue.
Remember that merchandising isn’t magic – it’s consistency that counts. Make the time to review your ‘fast movers’ regularly.