Have you just finished running an end of financial year sale for your ecommerce store? Are you wondering how to keep this sales momentum going?
The good news is that the end of EOFY doesn't have to mean the end of sales and growth for your store. In this blog, we will discuss 10 effective strategies to help you maintain sales momentum and continue driving revenue after EOFY.
The Importance of Maintaining Sales Momentum
There are a few reasons why keeping your sales momentum going after events like EOFY is important. Firstly, it gives you better financial security. Keeping momentum high means spreading out your sales more. This sustained income can help you plan your budget better.
High sales momentum can also help you make the most of your inventory. For example, if you have too much stock that didn’t sell during the peak season, then you can sell it now. You’ll have a more sustained purchase rate and so be able to turn over more stock.
Finally, keeping your sales momentum going can help your brand to stand out. It can encourage customers to return to your store after the EOFY rush, and so make your brand memorable.
How to Maintain your Store's Momentum
1. Analyse your data
The first step to maintaining sales momentum is analysing your data from the previous year. Dive deep into your Shopify analytics and identify patterns, popular products, customer demographics, and buying behaviours. This analysis will provide insights into which products performed well and which marketing strategies were effective. Use this information to refine your marketing campaigns and better target your audience in the post-EOFY period.
2. Run post-EOFY campaigns
Offering attractive promotions is one way to keep sales flowing after EOFY. Create enticing offers, such as limited-time discounts, bundle deals, loyalty rewards, or free shipping. Craft compelling messaging that communicates the value and urgency of these promotions to your customers. Leverage your email marketing list, social media channels, and paid advertising to reach a wider audience and drive traffic back to your Shopify store.
3. Refresh your website
To maintain sales momentum, ensure your website and product listings are up-to-date and visually appealing. Evaluate your website's design, navigation, and overall user experience. Optimise product descriptions, images, and pricing to entice customers. Consider adding new product photos or videos to showcase your offerings in the best possible light. Refreshing your website and product listings will create a positive impression and encourage repeat visits and purchases.
4. Upsell and cross-sell
Increasing the average order value can significantly impact your overall sales. Implement upselling and cross-selling strategies by suggesting related or complementary products to customers during the checkout process. Display customer reviews and testimonials to build trust and confidence in these additional offerings. By providing valuable product recommendations, you can encourage customers to spend more and maximise the value they receive from your store.
5. Collaborate with another brand
Partnering with complementary brands can be mutually beneficial and help expand your customer base. Identify non-competitive brands that share a similar target audience or have a complementary product offering. Collaborate on joint promotions, cross-promote each other's products through email campaigns or social media, or create co-branded content. These collaborations can expose your Shopify store to a new audience and generate additional sales opportunities.
6. Run a referral program
Harness the power of word-of-mouth marketing by implementing a referral program. Encourage your existing customers to refer their friends and family to your Shopify store in exchange for incentives, such as discounts, store credits, or exclusive perks. Create a simple and streamlined referral process that rewards both the referrer and the new customer. This approach can help you tap into new customer networks and leverage the trust and credibility of personal recommendations.
7. Launch new products
Keep the excitement alive after EOFY by launching new product releases. Research market trends, customer demands, and industry insights to identify opportunities for expanding your product range. Tease upcoming releases through social media, email newsletters, or blog posts to build anticipation among your audience. Capitalise on the momentum generated by these new products to drive sales and attract attention to your Shopify store.
8. Build customer loyalty
While attracting new customers is essential, don't overlook the value of customer retention. After your EOFY sale, take the time to nurture exisiting customer relationships by offering personalised experiences. Implement a customer loyalty program that rewards repeat purchases or referrals. Send targeted email campaigns to express gratitude, provide exclusive offers, or offer early access to new products. Through focusing on customer retention, you can cultivate brand loyalty and drive sales.
9. Grow your database
Another way to maintain sales momentum is to take the time to build your customer database. For example, you can run your signup offer as an ad to increase your database and reach new customers who may have missed out on your EOFY sale. This will help you build your audience for future campaigns, and drive future sales.
10. Offer exceptional customer support
Excellent customer support is essential for maintaining sales momentum. Ensure your customer support channels, such as live chat, email, or phone, are easily accessible and responsive. Provide quick and helpful responses to customer inquiries and address any issues promptly. Positive customer experiences and word-of-mouth referrals can significantly contribute to the long-term success of your Shopify store. Actively incorporating customer feedback into product development and service improvements can help you maintain a positive reputation and drive future sales.
Keeping your Shopify store’s sales momentum going after events like EOFY can be a challenge. Follow these ten tips to refresh your website, run promotions, and better serve your customers. Then you can see your sales and revenue soar.