I was recently surfing the internet to learn more ways of earning money from my travel accessories online store. Which is yet to launch in some weeks. I found out that e-commerce flash sales are one way of boosting sales. As I couldn’t practice the tips myself for now since I’m yet to launch the store, they seem promising to me.
I want to share the ideas of how we can increase our profit from e-commerce flash sales with you, too, so you can also take advantage.
What are e-commerce flash sales? They’re basically quick (flash) promotions on products by an online seller (you!) for a limited period – at a maximum of 24 hours or less. During holidays like Black Friday and Cyber Monday, you can do that after launching your product listings. It is often practiced by huge brands like Amazon, Walmart, and Wish.
So, what are these few things that will give us an edge when it comes to this opportunity? Let’s try our best not to be overwhelmed by all this information. Because there are really just a few things that matter most when it comes to flash sales.
Tip#01: Know your budget and affordability to spend.
The e-commerce flash sale is not about making an entire day of sales, but making it last for a few hours only. It may be frustrating if you spend too much money on doing this kind of strategy and end up with zero return in the end.
Be realistic with your budget and consider how much you can comfortably afford to spend on it, whether for purchasing ads or producing content specifically for this e-commerce promotion. By doing so, you’ll ensure effective resource allocation and a more successful campaign overall.
Don’t go overboard, especially if you anticipate that your e-commerce store may not generate substantial sales within the span of just a few hours. It’s important to strike a balance between your efforts and the expected outcomes.
In addition, Avoid spending too much on advertising. You’ll end up wasting money if you spend most of it on ads and then your e-commerce business is not expected to make the sales that you want during e-commerce flash sales.
It’s advisable to allocate a modest budget for this type of marketing strategy and anticipate increased sales, rather than investing a large sum in e-commerce flash sale marketing. This approach minimizes risk while maximizing potential returns.
Moreover, an e-commerce flash sale is not about making a day of profit – it’s all about making the most out of your e-commerce store in only one or two hours!
Tip#02: Find a successful e-commerce product in high demand with many variations (e.g., size, color).
In fact, One way to make sure that your e-commerce flash sale will be successful is by picking a product in high demand that has variations (like size and color). This way, it’ll be easier for you to create an ad campaign and increase your chances of getting conversions because people are more likely to buy products that are in high demand.
You can find e-commerce products with a lot of sales even though they aren’t on sale because the e-commerce store owner knows how to make it work for them, like using Facebook ads and offers (e.g., buy this product today, but you only get 50% off).
If your store is not doing well, it would be best to promote products already in high demand and have a lot of variations. When you do this, your e-commerce store will instantly become more successful because people love getting discounts on popular items!
You could also look for products that don’t have any flash sales going on at the moment, so your flash sale would be the first one they’d see!
Tip#03: Create an event page on Facebook where people can follow the e-commerce flash sale.
Furthermore Creating an event page on Facebook is a great way to let people know that your store is doing a flash sale. This also helps them to follow the sale and get updates on what’s going on. You can also invite your colleagues and family members to the event page so they can be updated as well! Having a sale on Facebook is a great way to get people’s attention and increase your chances of getting conversions.
Finally, make sure that you include all the important details about the flash sale on the event page. Like what time it will start and end and which products will be discounted!
Obviously, Having images or videos on the e-commerce flash sale event page would also help, like pictures of your e-commerce store’s products or even videos of how to use them (e.g., tutorials about using a product).
This is indeed an effective way to not only get people excited and interested in e-commerce flash sales but also to drive higher participation!
Tip#04: Invite friends and family who want to get updates about e-commerce flash sales or share it with their followers.
On the other hand, You can also invite your colleagues and family members to the e-commerce flash sale event page because they can get updates about the promotion. Share your e-commerce store’s sales not only on your website but also across various social media platforms such as Facebook, Twitter, Instagram, etc.
This multi-channel approach can significantly increase your reach and potential customer engagement. This is a good way for you to let people know that you’re having an e-commerce flash sale and increase your chances of getting conversions.
Make sure that you post about the flash sale frequently on social media so people will have a higher chance of seeing it.
In conclusion, When you do all of this, your e-commerce store’s e-commerce flash sale will be a success!
Tip#05: Ensure that you have enough inventory for all the different sizes/colors available.
However, It would also be best to make sure that you have enough inventory for all the e-commerce flash sale items because this could increase your chances of getting conversions. If there are multiple colors or sizes, the store owner must have a lot of each color and size in stock so customers can still purchase them!
Since Running out of inventory during a flash sale is definitely not ideal because it’ll make your e-commerce store look unprofessional and could lose you, and potential customers. Ensure that we have enough stock for all the different colors and sizes available so people will be able to purchase them without any problems!
Tip#06: Offer free shipping on orders over $50.
Another way to increase your store’s profits is by offering free shipping on orders that are over a certain amount, like $50. Lastly Offering free shipping will make customers more likely to purchase items because they know that they won’t have to pay extra for shipping! This also helps them save money in the long run.
What’s more, You could also include a minimum order value for free shipping so people would be encouraged to purchase more products from your online store! Make sure that you announce whether or not free shipping is available during the flash sale so people will be aware of it!