Business Development Strategies That Work So Good It’s Scary

Business Development Strategies That Work So Good It’s Scary

Business owners are busy people... It makes sense that we frequently find ourselves rushing to create campaigns in time for a significant product launch, sale, or seasonal event.

But don't worry; I've gathered seven brilliant business development and growth marketing strategies to motivate your subsequent campaign.

Use tests to increase conversions
The average e-commerce conversion rate for all markets is 1.74 percent, according to IRP Commerce.

Less than two out of every 100 visitors to the average e-commerce website will convert, despite its clever language, eye-catching CTAs, and compelling images.

That's a little downbeat. Wouldn't it be great if you could create a feature for your website that forced users to successfully convert themselves? And Dollar Shave Club (DSC) has done just that.

You are prompted to take a quiz that will recommend the ideal grooming items based on your unique needs as soon as you land on the website.

This isn't just a flimsy content marketing concept tucked away in the blog archives of Dollar Shave Clubs; it's prominently displayed on the homepage of a $1 billion corporation. But without extensive forethought, it's easy enough to put something comparable into action.

It begins by asking a few straightforward questions about what and how frequently you shave. Two significant client pain areas are then introduced.

DSC is discreetly informing the survey responder that their shaving process is making them uncomfortable by inquiring about specific pain locations.

It then presents you with a number of items to "make you look, feel, and smell your best" before asking you one final question about whether you use soap, body wash, or neither.

Because the buyer practically designed this bundle themselves, it works so well.

Additionally, by inquiring about the difficulties they have shaving, DSC has already given them the impression that something has to change in their routine, putting them one step closer to conversion.

Last but not least, Dollar Shave Club emphasizes that clients can save 15% by purchasing multiple items at once. The best part is that this content strategy is completely timeless.

You can therefore create your own product recommender quiz if you are in need of a last-minute marketing concept.

Utilize Exclusivity to Increase Sales

A significant, site-wide sale is soon to begin.

If you get it right, you'll generate a lot of sales (and free up some much-needed space in your warehouse).

But if you do it incorrectly, all you'll accomplish is reduce your average order value and perhaps damage your brand.

To reach your goals, you might need to run another offer, and when discounts happen too frequently, they ultimately discourage people from making purchases when a campaign isn't going on.

So much depends on your next sale. But you're at a loss on how to market it, and time is running out.

The best moment to draw interest and excitement to your sale is right now by creating a sense of exclusivity. Glossier, a skincare and cosmetics company, excels at using this strategy.

In this case, it provides a 20% "friends of Glossier" discount, which (allegedly) allows a small number of buyers to make significant savings prior to the "official" sale debut.

The following example does the same thing, but it emphasizes the offer by adding, "Don't tell anyone."

That is a great approach to make clients feel special and that they are receiving something unique. Despite the fact that we undoubtedly know deep down that this email is being sent to every Glossier customer.

Inform People About Your Incredible Products
You should always let prospective and current customers know how much everyone enjoys your items.

Sending some social proof emails is a far better option whenever you're struggling for a campaign idea.

89 percent of customers check reviews before making a purchase, thus releasing a well-timed customer testimonial or case study could be enough to encourage a large number of impulsive sales.

Outdoor Voices, a manufacturer of athletic clothing, is accustomed to using this strategy. It advertises four things in a single email, each with a client endorsement.

Although I've never purchased a support bra, I believe this testimonial addresses the two potential discomfort points the most:

Is it encouraging?
Is it attractive?

Of course, it's impossible to determine whether testimonials like this are authentic or just fabrications from the brand's marketing department. However, in this instance, you can discover this exact same review, along with a number of other five-star evaluations, tucked away under the Circuit Bra's reviews area.

If you're going to offer some positive reviews, it really helps if customers can discover such reviews on your website. If not, you run the danger of appearing unreliable.

Provide Personalized Product Suggestions
We marketers adore originality. Without a brief or objectives to meet, if left to our own devices, we would definitely come up with some pretty crazy, cutting-edge campaign concepts.

However, we're doing this in the real world to increase leads and/or revenues.

Therefore, it's a good idea to prioritize your products while designing your e-commerce campaign.

With an email marketing campaign that sent clients specific product recommendations based on their recent browsing activity, Mavi demonstrates the advantages of this strategy.

Research demonstrates that consumers are suckers for personalization, therefore this strategy is wise. It's true:

According to Google, 61% of consumers expect firms to customize experiences based on their preferences.

According to research by Accenture, 91 percent of customers are more likely to make a purchase from a company that remembers them, offers them personalized recommendations, and remembers them.
The effectiveness of using first-party data, or data that you own because you obtained it directly from your clients, is also demonstrated by Mavi's example.

Once you have someone's email address, you can use that information to force them to sign in whenever they visit your website and then make it simple for them to find things you know they'll love—either by customizing the browsing experience or sending personalized recommendation emails.

It seems sense that 88 percent of marketers prioritize first-party data collecting, according to a 2021 survey from the marketing firm Merkle.

Utilize the knowledge of your staff as a marketing tool.
You are more valuable as an online retailer than the total of your products. Whether you sell bodycon dresses, drill bits, or scented candles, you have the chance to differentiate yourself from the competition by showcasing your own expertise.

Evidence suggests that customers are eager to hear from the people who run your company. According to Sprout Social research, 72% of customers feel more connected to brands whose staff members post content about the business on social media, with 37% indicating they trust staff members more than the companies they work for.

If you're astute, you can view your desire to learn more about your staff as a value addition.

As an illustration, the cosmetics firm Anastasia Beverly Hills used a pro artist's online beauty masterclass as a sales incentive.

To be clear, those masterclasses are not your typical top-of-the-funnel lead generation tactic, where you can gather email addresses. As a deal closer at the bottom of the funnel, they are employed instead.

This strategy was utilized explicitly to push orders of $75 or more; it's not even a matter of "buy anything and receive a free masterclass." In this way, the brand effectively gives away content with high-value transactions.

This similar strategy may be used by firms in a variety of e-commerce categories, from personal styling consultations to discussions on interior design trends.

Incentivize End-of-Line Stock
There isn't a significant sales event approaching. You're not about to launch a new product or introduce an intriguing new incentive. What on earth are you supposed to discuss in your marketing, then?

You can't remain silent since that increases the likelihood that people will forget about you. When you don't have something specific to market, one clever strategy is to generate interest in end-of-line products—items that are about to be discontinued.

These things are now doing little more than taking up valuable warehouse space, which is directly costing you money. That gives you carte blanche to start a brash discount or an eccentric marketing effort to generate attention.

A different strategy is to exploit the product's impending removal from your store's inventory as a selling element, similar to Function of Beauty.

That's correct: Function of Beauty presents this item as a highly sought-after commodity that won't be around for much longer, as opposed to framing it as an outdated item that has passed its prime.

All of this causes the customer to experience FOMO, or the fear of missing out.

Increase Email List Size With Popups

More than the sum of its characters, an email is valuable. Every email you collect is a request from website visitors to get in touch with them and send them relevant information and offers.

Yes, I am prejudiced, but in my opinion, adding popups to your website is the best approach to achieve it.

For a couple reasons, I appreciate this straightforward popup:

It provides a big discount. It is up to you to decide whether you can afford to give a 35 percent discount in exchange for an email address, but if email marketing is a key component of your e-commerce marketing plan, it might be worth the margin hit you would suffer in the near term.

It clearly explains what you're getting. Subscribe for exclusive deals and promotions—this is clear-cut. As a result, there's a lower likelihood that subscribers will unsubscribe since they weren't sure what to expect from your newsletter.

It features an image. Popups with photos perform 84 percent better than popups without images, as shown by our analysis of 1+ billion popups.
We are very aware of the use of popups for anything from lead generation to client retention because Drip obviously provides onsite marketing solutions. Check out our extensive collection of information on website popups if you want to learn more.

A marketer's best friend is simplicity when resources are limited and timelines are tight.

The truth is that you're not required to create the next "A Diamond is Forever" or "Just Do It." Simply choose a perspective that advances your marketing and commercial objectives.

And nine times out of ten, those objectives will involve increasing product sales.

Keep your focus on the bottom line at all times, whether you're sharing client endorsements, providing individualized product suggestions, or advertising a limited-time deal.

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