The number one question I get asked as a Retail Mentor is "how can I achieve more sales".
There are so many reasons, but I often get my clients to start looking at all the reasons they missing sales - and they can normally be wrapped up in one of these 6!
Selling Everything to Everyone...
...and connecting with NO ONE!
You are worried if you niche down you will alienate potential customers. However, if you don't sell to someone specifically - you will appeal and sell to no one. You have to see your marketing as pulling someone aside in a crowded room and talking to them individually, there specific concerns, feelings, frustrations, lifestyle. Instead of what I see so often, people use social media as a platform to try and shout the loudest, to anyone who will listen. This isn't how you are going to connect with someone on a personal level, you're not going to make them feel understood so they then make a purchase.
Lack of Strategy and Planning
You need to understand your product offer from your customers perspective. You need to know what you are selling, why and when. It is not about "selling everything all the time"
Product Planning and Marketing Strategies are key reasons why you're not converting sales.
You should be telling your customers what you want them to buy and when you want them to buy.
Consider the example of a High Street store. They change their window displays every single month. And within that, they choose a different selection of product to be actively selling. Once through the front door, (on to your e-commerce site) they have the chance to shop anything - but you actively "sold" only a collection of specific items. This builds authority within a brand, but also put you in control of stock quantity and meeting those customer needs.
Stock & Product Issues
Do you have the right product? At the right time? For the right reason? Consumer expectations have grown astronomically over the past 12 months. Your brand has to serve THEM.
They are not shopping with you as a favour, They aren't looking for something to want - you have to deliver what they already know they want.
We cant hold every possible item that every possible customer may want, but we do need to be aware of our entire product offer is missing certain selling opportunities which you 100% should be able to sell.
Friction & Lack of Conviction
Whether its friction within your customer journey or mixed messages within your marketing. Hiccups, bumps-in-the-road and confusion are one of the biggest contributions to losing a potential sale. We live in a world where streamline is key.
Your marketing needs to not contradict. Your e-commerce platform needs to be smooth. Your social media needs to be in line with your values.
Everything has to just fit - feel believable - in support of every aspect of your brand.
One Selling Strategy
With only one selling strategy, (probably social media), you are limiting the ability to build the 'know-like-trust" factor amongst your customers.
In order to make a purchase, it believed that a consumer has to be able to experience you in 7 different ways. This won't be true for everyone, but if you are only driving people through Social Media posts and on to your e-commerce platform - then where are the other 5 coming from? You need to be branching out your selling strategy in order to A, convert more customer. B, build a bigger audience.
It's an ever-evolving industry - so you have to evolve with it. Embrace the changes, the growth, the demand. Step up and be accountable for ensuring your business has the best chance of success.
The new normal is that there will never be normal again.
So many retailers are waiting for "things to go back to normal" NEWSFLASH...they won't. As we recover from the pandemic, consumer needs will just continue to increase in demand. Other retailers will continue to push boundaries, be more creative. In order to achieve success, you have to acknowledge that constant change and innovation is paramount.