Getting people to impulse spend more and more
Recently, a column made the rounds that addressed eight ways to curb your online spending.
But from a business perspective, how can you ensure consumers click through your site and finalize their purchases, and how can you take the theory of curbing impulse spending and turning it around to serve your company’s sales needs?
Let’s look at five ways you can boost chances your consumers will complete their purchases:
1. Offer sales
Many consumers create a budget at the beginning of the month for online spending and will be trying to stay on track of their finances.
However, if you offer a sale, even if it is for discounted or free shipping, consumers will be more likely to “splurge” with their closely guarded funds because they feel like they would be missing out by not taking advantage of your offers.
2. Use technology
Utilize your site and other tech to gather and securely store consumers’ information so they do not have to enter their details every time they visit your site. By streamlining the checkout process, your consumers are more likely to purchase because they never need to leave their seat to retrieve credit card or bank information. Any way you can make a purchase frictionless, sales improve, period.
3. Payment options
Offering various ways to pay, especially accepting PayPal, encourages users to shop with you. If you are simply accepting credit cards, some people may choose to go elsewhere, as many consumers feel that shopping via PayPal offers an added level of security. Alternatively, if you only accept PayPal, you exclude anyone looking to fork over money that doesn’t have PayPal. Keep their options open, and you keep the money flowing.
4. Offering gift cards
Where applicable, accepting gift cards gives consumers an additional way to pay, especially those consumers who do not want to carry credit cards. It gives you a way to promote your product with the convenience of a credit card, without the finance charges.
5. Ask for an email address
Ask for an email address at checkout. Whether you are selling online, or in a brick and mortar store, asking for an email address is the easiest way to solicit directly targeted marketing. The next time you have a sale, you will be able to quickly let valued consumers know (see point number one). And by offering promotional emails, consumers will be more likely to buy something because it is ever-so-easy to simply click “buy now” and disregard the aforementioned budget.
With more and more people online, the urge to “click and buy” is hard to resist. By making sure you are collecting your consumers’ information and targeting them with promotions and sales, you will be more likely to keep them engaged with your site all through the year, spending that impulse money on your site instead of others’.
