While your marketing efforts drive potential customers to your store and create interest in your product, those customers still need a little extra incentive to make a purchase. That’s where real-time sales come in.
By definition, real-time sales refer to the act of selling products or services online quickly in an optimal environment for both the customer and the seller. As the seller, you should have the means to convert a lead into a paying customer as soon as they express interest in your product.
The faster you respond, the more likely you are to make the sale. And, when done correctly, real-time sales can have a significant impact on your business’s bottom line – regardless of what method you choose. Read the following tips to learn how you can use real-time sales strategies to increase revenue for your business.
Create a Sense of Urgency
It’s safe to assume that most people are not going to make a purchase the moment they see your product. Instead, they will likely want to think about it for a while or compare your product to similar ones on the market.
To combat this, you need to create a sense of urgency that will prompt customers to buy now rather than later. For instance, sharing an IWOOT discount code gives your audience an incentive to check the offer. But if the code is only valid for a limited time, they’ll be more likely to act on it quickly.
Synchronize Your Data
Speaking of incentives, nowadays, many shops inform their visitors about purchases other people have made in real-time – and now you know that John from Kentucky has just ordered the same product as you. This is an excellent way to create a sense of social proof and encourage more sales.
By synchronizing and making use of various data sources, you can display relevant information to your potential customers at the right time. Stock availability has been an industry must-have for a while, so to really stand out from the crowd, you need to offer potential customers even more relevant data.
Use Live Chat Support
Another great way to increase sales in real-time is to offer live chat support on your website or e-commerce store. This allows customers to get answers to their questions quickly and easily, without having to pick up the phone or wait for an email response, creating a personal shopping experience.
In addition, live chat can also be used as a sales tool. For example, if a customer is having trouble finding a particular product on your website, a live chat operator can help them locate it and even add it to their cart.
Utilize Predictive Analytics
Predictive analytics is another powerful tool you can use to increase sales in real-time. This type of data analysis uses historical data to predict future customer behavior and trends, which can be extremely helpful when it comes to making decisions about pricing, inventory, and marketing.
For example, if you know that a certain type of customer is more likely to buy a product during the holiday season, you can adjust your pricing and inventory accordingly. Additionally, predictive analytics can also be used to identify cross-selling and upselling opportunities.
Adjust Product Offerings
Having an insight into trends and customer behavior isn’t only useful for making predictions – it can also help you make better decisions about your product offerings. If you know that a certain type of customer is more likely to buy a certain product, you can adjust your offerings accordingly.
For example, if there’s one specific product that’s selling really well, you can offer it as a bundle with other products or services. Cross-selling and upselling, as mentioned above, give you the opportunity to add extra value for your customers and, as a result, increase your revenue.
Create Accurate Personas
A persona is a fictional profile of your ideal customer – the person who will be likely to make a purchase. You can use these personas to inform your product strategy, marketing campaigns, and everything in between.
Your real-time sales data can help you create new or modify existing personas based on your customers’ behavior. Such a process can be time-consuming, but it will ultimately lead to a better understanding of your customers and what they want.
Final Thoughts
In the end, real-time sales are no different from any other kind of sales – the key is to give the customer a good experience and use the right tools to do so. When you’re able to sell your products fast, your revenue will benefit.
The approach you choose for real-time sales is, of course, a matter of preference. However, all of the methods mentioned above can be used together to create a winning strategy. So, don’t miss out on great opportunities to increase your revenue and use real-time sales to your advantage.
