How do you make the most out of your best-selling products? For small and mid-sized eCommerce companies, seeing a handful of products make up the bulk of their revenue isn’t unusual. Of course, this isn’t an ideal situation. But for many eCommerce shops, it’s a reality.
You should always seek to maximize revenue from your best-selling products. Identifying why an item sells so well—and capitalizing on your findings—is critical if you want to grow your customer base. Want to learn how to take your best-selling products and increase their already-impressive sales? Consider implementing some of these strategies:
Identify the Reasons Behind the Bump in Sales
Sometimes it’s tempting to sit back and enjoy your success. However, it’s important to understand why certain products in your eCommerce store perform better than others. Products sell well for a reason, even if it boils down to effective promotion.
Why is your best-selling product attracting so much attention? Are you running ads for the product with a hefty budget? Is there a trend in your market that causes demand? Was the product mentioned a popular television show? Did a popular outlet link to your website? Any number of reasons might explain why a certain product “blows up” in a short period of time. Without identifying the “why” behind increased sales, you’ll struggle to take things further.
Capitalize on Market Trends by Engaging with Communities
If a product within your store experiences a sales spike due to increased demand trends within a market, it pays to engage with the community about that product. Reach out on social media: share information with those that have questions, and offer useful content about the product to communities. This way you can build trust and brand awareness on the back of the trend.
Encourage Reviews from Customers Who Buy the Products
Certain aspects of a product page can influence a product’s sales more than just reviews. Customers want to feel reassured that the product lives up to the sales hype. If your product has sold well with very few reviews on the page, you could see a significant bump in sales by attracting more.
If a product already has several buyers, it shouldn’t be too difficult to attract reviews. Reach out to buyers and encourage them to leave one too. Start by striking up a conversation about their purchase—and make sure that they were satisfied. Build some rapport, then ask for the review. Even a handful can go a long way with potential buyers.
Give Best-Sellers Homepage Screen Real Estate
A popular product signifies market demand. Unless your entire user-base buys the product after going straight to the product page (e.g. through a link from a large publication or exclusively through ads), it makes sense to promote it on your website’s front page.
You’ll be able to attract more visitors to the product page itself—and advertise the fact that you sell it. Stocking a best-seller doesn’t mean that every customer knows that you carry it. Do your best to raise awareness.
Highlight Your Sales in Email Campaigns
Social proof matters. Given the opportunity, you should always highlight how successful a product has been in your store. Customers who hear that something has sold well inherently have more faith in it. They’re also more likely to trust your sales messaging.
Ride the Wave
Successful products – especially unexpectedly successful ones – go a long way to helping eCommerce companies grow. But always, always leverage periods of increased interest – strike while the iron is hot! Try out some of the tips in this article. With any luck, you’ll take a high-performing product to the next level.