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10 Ways to Increase Sales in 2012

10 Ways to Increase Sales in 2012 While trying out new ways to boost sales can be risky, there's a reason why they say "Nothing ventured, nothing gained." Here are Truaxis' top ways to help you increase sales in 2012. #1 Use Analytics and Metrics l Aside from getting to know your customers on a personal level, you can learn about them using software tools. Learn where your customer base is, who they are, how long they stick around on your site and what your conversion rates are! Just be sure to use trustworthy and comprehensive tools. In the first week of running analytics, Discount Tire boosted online sales by 14% 46% of ecommerce retailers are increasing their analytics staff for the coming years 76% of surveyed retailers started tracking metrics with positive results in 2011 #2 ROI for Targeted Advertising O Once you've learned about your customer base, you need to target your adver- tising towards your niche and measure the success of these efforts to make sure your marketing dollars are being used efficiently. 1000% Between 2010 - 2011, retailer spending on targeted display ads online increased by 270% 24 A retargeted ad - one that was already released but has been redirected at a particular segment - leads to 1000% more searches than a non-targeted ad. #3 Loyalty Programs Loyalty programs encourage repeat business by rewarding sales with discounts, freebies, and other incentives. !! %24 The average US household is enrolled in 18 loyalty programs Customers who are part of a loyalty program will spend more However, 1 in 4 loyalty members feel they never get promotions they can use – so put your analytics to good use and offer targeted rewards #4 Segmentation Q One size does not always fit all, especially when it comes to marketing. Segment your customer base into different groups and reach out to each group separately to achieve the most marketing impact. $$$$$$$$$$ 80% of your sales may come from the top 20% of your customers – it pays to know them well #5 Invest in Mobile Tactics Having a mobile site and/or app is quickly becoming a necessity for retailers. This past holiday season saw record-breaking numbers for mobile shopping and browsing, solidifying mobile as a digital channel that's here to stay. 44% of ecommerce retailers are increasing their mobile efforts; a smart move since 2011 2016 5% the US market is expected to jump from 2% in 2011 to /% of ecommerce sales by 2016 0% In 2009, only 3.6 million Americans shopped on mobile devices on Cyber Monday In 2011, 17.8 million did the same #6 Build Relationships with Customers Customers respond positively when companies personally engage them and un- derstand what they want. Customers will be more likely to choose your business over another if you are receptive to their needs. 24 When customer relationships become a priority, businesses can achieve 43% more sales per employee and 260% more revenue %24 #7 Localization Location, location, location! Tailor your reach to the ideals and tendencies of your community and watch your sales soar. The best way to localize is via in-person events, direct mail, regional websites, social networks and other electronic forms of communication. Even if you're not an online business, online marketing is the new standard. Only 12% of marketers are confident in their abilities regarding localization But 49% believe it's vital to growth # 8 Socialize Your Site f If your store isn't already on Facebook, now's the time. F-commerce is growing rapidly and you should be riding the wave. Other social networks can also be extremely valuable for word-of-mouth and raising brand awareness. $$ Over 50% of online shoppers don't mind sharing personal data with retailers via Facebook Shoppers spent 57% more after American Eagle added 'Like' buttons to every product on their website Manage Your Reputation #9 This goes hand-in-hand with building relationships. Unhappy customers are more likely to leave negative reviews online and complain to their networks both online and offline. Be sure to respond to unhappy customers and try to fix the issue so more customers will be satisfied. 50% of consumers look at online Nearly recommendations before purchasing 70% of consumers trust the ratings of other consumers #10 Gamification Through still in its youth and development, turning a goal or incentive into a game has been shown to be an effective strategy for increasing sales. It can also be used to internally motivate employees, which can also lead to more sales in the long run. By 2014, over 70% of Global 2000 organizations are expected to have one or more gamified applications visits by 20% after One retailer increased return adding badge rewards for placing orders through its website SOURCES http://multichannelmerchant.com/ecommercelonline-retailers-time-now-connect-customers-facebook-1222jt1/ http://multichannelmerchant.com/from-the-wirelshopsocially-social-commerce-suite-0409top9index.html http://searchengineland.com/by the-numbers how facebook says-likes-social-plugins-help-websites-76061 http://www.internetretailer.com/2011/09/13/conversion-boost-online-retailers http://www.tvtechnology.com/article/121994 http://www.nrf.com/ http://www.cmo.com/strategy/localize-optimize-sales-channel-effectiveness http://www.squarefin.com/2011/segmenting customers-to-make-more-profit http://behavioraltargeting.bizitargeting-strategies-in-advertising/ http://www.jazdfinancial.comiresearch/Agent-Technologies-inc.htm?contentSetid=140005695&supplierld=140000819 http://www.bazaarvoice.com/resources/stats http://www.rocketmedia.com/blog/article/looking-forward-3-ways-to-boost-sales-increase-leads-in-2012 http://www.internetretailer.com/2011/09/13/conversion-boost-onine-retailers http://www.google.com/analyticsicase study discount_tire html http://ezinearticles.com/?Web-Analytics-is-Important-For-Understanding-Offline Conversions Too&id-6767659 http://www.businessnewsdaily.com/952-small-business-marketing-analytics-html http://www.internetretailer.com/2011/03/11/small-and-medium-sized-businesses-increase-online-ad-spend http://adage.com/article/special-report-audience-buying-guide/strategy-targeting-display-ads/149661/ http://behavioraitargeting.bizitargeting-strategies-in-advertising/ http:/llwww.sepiida.com/blogitag/gamification/ http://blog.theentrepreneursadvisor.com/2011/07/gamification-improving-software-adoption-rates/ http://www.inc.com/guides/201105/new-rules-of-building-customer-loyalty.html http://www.secutitymagazine.com/articles/81720-consumer-layalty-programs-what-are-your-real-statistics http://www.loyaltymarketing.com/post/Customers-Want-More-From-Their-Loyalty-Programs.aspx http://colloquy.com/files/2011-COLLOQUY-Census-Talk-White Paper.pdf 88 truaxIS

10 Ways to Increase Sales in 2012

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Who doesn’t want to increase sales? Every business is looking for an edge and a way to increase their performance. This infographic goes over 10 ways to help increase your sales this year.

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