One of the most effective ways to increase online sales is to create a sense of urgency in your buyers mind. Most people have a fear of missing out when it comes to making online purchases. If there are limited product quantities, or a limited time, your customer is more likely to make an instant purchase.
If you have an e-commerce website, you can increase sales by using 3 simple techniques that play on your customers fear of having a product they really want sell out.
1.) Limited Quantities
There is nothing like a shortage of an item to create buyer anxiety. Limited quantities tell the buyer 2 things, it’s a popular item, and it’s going to be gone soon. They are afraid of missing out, so they are more likely to make an instant purchase rather than waiting.
Amazon and hotel websites use this all the time. How often have you been shopping for an item on Amazon and seen the “only 3 left” message just underneath the product description? How does that make you feel? If you are undecided as to the purchase, this usually makes you buy because you simply don’t want to miss out.
2.) While Supplies last
This is another very effective way of creating a sense of urgency for your buyers. Without showing your customers actual quantities, it still implies that they might not get the product if they don’t act soon.
During the Thanksgiving and Christmas shopping season, big box stores like Wal-Mart and Best Buy use this technique. They run a sale promoting huge discounts or price rollbacks and include the “while quantities last” message. Most consumers are not going to take a chance on missing out!
3.) Limit Purchase Time
I recently ran across this “double” scarcity method. I was shopping for wines online and saw this next to the item, “6 hours left OR until sold out”. I felt instant butterflies in my stomach and a sense of anxiety that I wasn’t going to be able to buy this wine!
What do you think I did next? If you said, “bought the wine” you would be correct. Now mind you, when I visited the website I was simply browsing with no actual plan on making a purchase!
If I had been undecided as to whether to buy the wine, this would also have made me buy. So this is a great way to get “window shoppers” and those that are on the fence…to make an instant purchase where they might not have otherwise!
You don’t always have to use a specific quantity or time frame. Using “Limited Time Only” though ambiguous, still creates the sense of missing out in the buyers mind and gets them to purchase immediately.
As you can see these are 3 very simple, but great tactics to increase sales on your e-commerce website.