Top Seven Effective Merchandising Techniques The average sale is the amount of money a visitor spends on a typical purchase from you. To increase your profits, you need to increase your average sale amount. You do this by encouraging your customers to spend more money each time they shop.
All businesses are engaged with customers at a certain level of revenue. Ongoing, consistent efforts must be employed which help customers do business with you at a higher level of revenue.
Most businesses limit their contact with customers to the area of service or products in which the customer originally expressed interest. You have already established a relationship, so why not utilize that relationship to its fullest?
This is done by making certain that the customer is aware of all additional products or services that you have available. This is sometimes referred to as merchandising. There are a huge number of merchandising techniques. Let's look at some of the more common ones:
1. Cross-Sells - related products or services to a visitor when they are viewing or buying a product or service from your website. (If your visitor is buying a hammer, then you might want to display a number of different types of nails)
2. Up-Sells -a more advanced or expensive product than the one that is being considered. (If your prospect is buying an iPod Shuffle, you might try and upsell by displaying a full iPod or iPhone)
3. Volume Discounts - offer a cheaper price or a bigger discount as an incentive for a bigger order. You are actively providing an incentive for your visitors to buy in bulk and thus spend more money 'up front'.
4. New In Stock - new items that have "just arrived." This can be great for "early adopters" who love to try out anything that's new and always be on the leading edge.
5. Package Deals - combine a number of items into a package deal. Offer a special discount if the customer buys certain items as a 'package'. (Think of fast food meals where they package up a burger, fries and a coke)
6. Free Shipping With All Orders Over A Specified Dollar Amount - encourages your prospects to top uptheir orders to ensure that they get the free shipping.
7. Free Gift With All Orders Over A Specified Dollar Amount - like free shipping, it encourages prospects to spend more to get something free.
Be sure to use a gift that has a high-perceived value, but costs you very little.