Festival sales contribute to a major part of revenue for e-commerce. Today’s price-sensitive online shoppers are driven by value, quality, and the desire to support local businesses. With lucrative discounts, promotions, and user engagement strategies, it is possible to attract the attention of deal-hungry holiday shoppers.
Essential e-commerce metrics to monitor during a festive sale
When it comes to a festival sale, the more data points you capture, the more insights you gain on what is working and what needs to be improved. With augmented analytics enterprises can monitor various rapidly changing customer behavior metrics in real-time to know the effectiveness of marketing campaigns and sale strategies. Here are some of the main e-commerce KPIs to monitor and analyze:
Conversion metrics: Sales, conversion rate, average cart value, cart abandonment rate
Website metrics: Traffic, traffic source, traffic by device type, site speed, bounce rate
Campaign metrics: Pay-per-click (PPC), Click-through-rate (CTR), Email open rate, social media followers, Number and quality of product reviews, Affiliate performance
Enterprises can leverage AI-enabled anomaly detection to get real-time behavioral insights. With real-time data insights, enterprises can send highly targeted and personalized messages for product availability and price drops, etc to keep potential customers interested in the e-commerce site and drive more conversions.
Dos and Don’ts for online store owners during a festive sale
Here are some must-try tips to help you drive more conversions during a holiday sale.
- Provide a simple and seamless checkout process.
- Send personalized recommendations.
- Encourage reviews for products.
- Offer timely customer support.
- Give option for express or faster delivery.
- A/B test holiday campaigns to see what works the best.
- Adapt quickly to respond to any major change in buyer behavior.
- Follow a rigid and inflexible return and refund policy.
- Set unrealistic timelines for shipping and delivery.
- Ignore buyer personas while creating marketing campaigns.
- Spam customers with too many promotional emails and SMS.
- Forget to deliver incentives to existing customers in form of discounts/ loyalty points.
- Overlook security measures to protect your site from fraud and phishing attempts.
- Use low-quality or subpar product images.
Tips to maximize e-commerce conversions during a holiday sale
- Make a holiday calendar and prepare 1-2 months in advance before the sale event.
- Analyze past and current data to predict shopping behavior.
- Create strategic holiday marketing plans, contests, and loyalty programs.
- Test the infrastructure and performance of your app for handling holiday traffic.
- Optimize your e-commerce application for mobile.
- Personalize recommendations based on buyer behavior.
- Identify best selling items and keep inventory ready for sale.
- Be ready with additional shipment and logistics especially for the holiday season.
- Encourage holiday gifting by showcasing holiday-specific products and offering special services such as gift wrapping.
- Create a seamless return and refund policy and communicate the same with customers.
- Automate actions and notifications to prevent cart abandonment.
- Provide multiple payment options.
- Provide good customer support across all channels, 24/7 during the sale.
- Set goals and KPIs for the holiday season to measure success.
- Gather as many data points as possible for insights to improve your strategy.
The E-commerce Festive Sale Checklist
Maximize E-commerce Conversions During a Holiday Sale