Why do great products sit collecting dust on virtual store shelves only to become discounted as sale items? Even that might not be enough to encourage buyers to take the bait. But when it comes to stubborn products that just won’t sell, there’s usually a common reason behind the mystery.
Solving this and moving that stock often requires some creative thinking. Fortunately, you needn’t think too hard as we’ve chosen some of the top ecommerce hacks for encourage sales of your worse performing products.
Edit content & images
Start by considering the product page as a whole from the customers perspective. Although your familiar with the workings of the product, it doesn’t mean that fresh visitors to your site are. You’d be surprised at how much impact a new description can make on conversions.
Maybe the current description is missing details that would otherwise overcome that hesitation with your users. Otherwise, why not include a video overview of the product to give an in-depth look at all the benefits. Finally, be sure to include the most striking images to create a sense of ‘want’ in your audience.
Include comparison pricing
You only need to consider the popularity of price comparison sites to realise the importance of this technique for all online retailers. While it might not be beneficial to show the prices of your rivals alongside the product your attempting to sell, it could be worth showcasing other products in your catalogue.
For example, if you’re selling a television for £200, try showing a comparison and more expensive product alongside it. The technique known as anchoring is proven to encourage users to feel more comfortable parting with cash. A £200 television looks more attractive and cost-effective than a £400 television, right?!
Offer discounts for volume spending
Are you familiar with the ‘law of diminishing utility’? Put simply, this theory suggests the more that is consumed in a given time, the less the buyer appreciates that item. It’s a fundamental concept behind many companies pricing strategies. In a similar way, it can be applied to volume selling.
Instead of thinking about the short term, why not offer discounts on volume orders for certain products? Take for example, a food or beverage retailer who may offer discounts for ongoing orders. For other types of products, you can initiate a ‘buy another as a gift’ or ‘buy one get the second one half price’. It may seem like a marketing gimmick but it can give surprising results.
Add some exclusivity
Why are companies such as Groupon and Wowcher so popular? Maybe it’s because they offer such tempting discounts, but more than likely it’s due to their selling techniques. All of their ‘deals’ have something in common; ‘Offer ends soon’ ‘Limited quantity available’ ‘Last chance prices’ and so on.
Everyone likes to feel like they’re getting something exclusive and a product becomes far more tempting when it’s limited or about to sell-out. That said, why not try creating this sense of urgency by adding the caption ‘Limited Quantity Available’? This is more than acceptable to add to product pages, especially when they’re no plans to restock.