Category: Merchant Processing Industry
As Black Friday and Cyber Monday continue to grow in popularity, merchants need to stay proactive in marketing and selling to the ever growing customer base. Last year alone, Black Friday brought in $2.72 billion in e-commerce sales. Thanksgiving Day brought in $1.73 billion in sales. This means that there is plenty of business to be had. Implementing a few last minute efforts could help increase profits for your business this holiday shopping season. Here are three suggestions to bolster holiday sales:
- Offer online sales/ mobile payment options: Amit Mathrada, the head of Small Business North America for Paypal, has said that there has been disproportionate holiday shopping growth from online channels. In order to capitalize on this growth, merchants need to focus on reducing their shopping card abandonment, particularly on mobile devices. Sites need to render perfectly on mobile devices to reduce hiccups that could cause customers irritation as they attempt to check out this holiday season.
- Pay attention to social media and SEO: Keep your customers up to date and informed on your products and services when they are ready to buy. Social media sites, such as Facebook, allow you to target the right demographics and ensure that there is a clear call to action, whether that be a click or a call to drive sales. Investing in search terms through Google is another great way to create visibility for your business. Personalize communication and offer a rewarding customer experience, whether that be online or in person, to keep those buyers as long term patrons. Spreading the word about your businesses holiday specials gives you the chance to interact with prospective customers.
- Weigh customer data against the need to complete sales: Data about customer habits and preferences has become even easier to obtain. It is tempting to try and use your business to better enhance the shopping experiences and find out what your specific customers prefer. However, during peak holiday shopping days it is best to avoid asking for any more data that what is necessary to complete the transaction. Save that type of data gathering for after they complete their order.
These are just three small tips to better improve your businesses holiday profits. The key is keeping customers happy and providing them with the kind of ease that will continue to keep them coming back.