Diwali has long been associated with new beginnings, the coming together of friends and family, good food, and plenty of shopping. Each year, the festive season brings great tidings for businesses, both online and offline, with people flocking to buy everything from new household appliances like refrigerators and washing machines to smaller kitchen and grocery items like dry fruits and sweets. Apart from buying products, many Diwali shoppers also engage the services of professionals including beauty salons to look their best on Diwali night and laundry stores to assist with the tiresome pre-festival cleaning drive. Another super popular business vertical during Diwali is clothes, with sales for traditional and ethnic clothing, in particular, shooting through the roof.
With social distancing becoming key this festive season, online stores and businesses have the opportunity to step up and take charge in terms of sales. Given that there is a lot of demand from customers for a variety of different things during Diwali, there are many business verticals that can be transitioned online.
But increased demand also means increased competition and businesses need to employ some strategies to make their presence felt and boost sales. Here are the top 3 strategies you can use to boost online sales this Diwali:
1. Discounts Galore
It might seem trivial but nothing brings in more customers than discounts and special offers. Buyers are always looking for ways to save money on their purchases and discounts are a great way to boost sales. Even a small discount has the power to push customers towards your product or service over another that doesn’t offer any such benefit. From a basic cashback offer to big discounts for first-time buyers, there are many ways you can boost your online sales. You can also launch Diwali combos that include festival season essentials and sell them at a discounted rate. When it comes to discounts, you can be as creative as you want while thinking about your customers’ needs.
A discount is just one of the many incentives you can give your customer. Other options at your disposal include cashback offers, buy one get one, referral bonus, loyalty program, and much more. Depending on the type of business and your sales and profit targets, make a pick that best suits you.
2. Harness the Power of Online
The world is moving online and quite rapidly at that. If your business is something that can be transitioned to an online mode of operation, Diwali happens to be a perfect time. From a homemade chocolate business to an earthen diyas and lamps enterprise, anything and everything can be sold online, so long as you have the right tools.
The great thing about starting an online store is that it increases your sales potential substantially, especially during the current era of social distancing. A buyer in Mumbai can easily purchase silk sarees from Kanchipuram with a couple of clicks and that kind of reach is impossible for brick and mortar stores. Another great reason why online marketplaces are the way ahead is the cost factor. The cost of setting up and maintaining an online store is much lower than a physical store, making it a viable option for entrepreneurs who have limited capital.
There are a few important things to consider when setting up an online marketplace. Creating a solid website that showcases your products in the best way possible, top-notch delivery management, marketing opportunities, mobile app, vendor onboarding, and much more. It can all be a bit much in the beginning if you don’t have the right partner. Yelo, an online marketplace platform, specializes in helping businesses go online with a dedicated website and mobile app. With Yelo, you can launch your online business in one day without any setup fees or coding.
3. Marketing Magic
When it comes to online businesses, there’s no such thing as too much marketing. The internet is a vast and crowded place and you make your mark, you need to present yourself to potential customers whenever the possibility arrives. From ads and posts on social media platforms like Facebook, Instagram, and Twitter to a robust email marketing campaign targeted towards different users, the online marketing possibilities are endless. If you’re running special discounts and offers, you can also market them on your or another relevant website with a display marketing campaign.
If you choose Yelo to build your online marketplace, you get access to a dedicated marketing suite using which you can set up discounts, loyalty programs, gift cards, and much more. Yelo also specializes in search engine optimization to make sure that your online marketplace shows up in all the right places.
When looking for ways to strategize business growth and increase sales, you need to be mindful of what you’re selling. What works for one type of product might not necessarily work for another. Also, the importance of analytics and data tracking cannot be stressed enough. The only way you know if a particular strategy has worked is by tracking its performance and making any required changes.
Yelo offers a dedicated analytics dashboard using which you can track everything from the number of clicks on a particular product to the average time spent on a page. Armed with this data, you can make tweaks to your website, marketing strategy, and prices, if need be. Other features offered by Yelo that can help you boost online sales include an admin dashboard, real-time tracking, order management, access control, and more.
If you’re planning on moving your business online, Yelo can be a great partner. Click here to learn more about our online marketplace platform by getting in touch with our team today.