Customer is King and as Shiv Khera, author and self-help expert puts it forward – “90% of selling is conviction and 10 % is persuasion.”
You are a seller, and what is your topmost priority while doing business? Selling fast and selling smart. With the advent of e-commerce and brands giving sales round the year, the consumers prefer buying online rather than hitting the traditional brick and mortar shops. So as a seller, you should be able to cash in these trends by using Sales Promotion techniques and make a successful business venture.
What is Sales Promotion?
In simple language, Sales Promotion is the process of persuading a potential customer to buy the product. It Is a short-term tactic to boost sales and thus a great method to be used over the e-commerce platforms. Advertising, coupons, samples, freebies, loss leaders and rebates are a few examples of sales promotion techniques.
We all know www.flipkart.com even if we do not regularly shop online. Flipkart holds around 44% market share of India’s e-commerce industry. Flipkart is significantly dominant in the sale of apparel, a position bolstered by its acquisitions of Myntra and Jabong.
So how do you make use of this dominant position enjoyed by Flipkart and benefit from it?
- Product Listing Ads (PLA)
As per Flipkart seller hub, Product listing ads is the topmost tip to boost sales on the site. They have marketed this campaign with the hashtag #RahoAagey. As a seller, all you have to do is simply create an ad campaign and every time the customer searches for a product, you won’t get lost in the crowd. Instead, you “jump the line” and grab attention with a bright yellow Ad tag. Once your ad is clicked, you own the Buy now button on the product page. All in one tap.
So basically you don’t have to try hard to sell your product and as Flipkart says, you don’t have to try at all!
As per Indianonlineseller.com, around 50% sellers on its platform avail the PLA services. Many sellers who were willing to pay for ads benefited a great deal from this service and doubled & tripled their business.
Advantages of Flipkart PLA:
Flipkart PLA does not have a bidding model (where you are charged based on the number of clicks your ad receives). Instead, it follows a fixed CPC model defined by Flipkart based on the category of products. As a result of this, all the sellers advertising similar products get equal opportunity to showcase their ads. Thus, you get the following advantages as a seller:
- A higher visibility of your product and increase in “product views”
- A “Buy Now” button for the advertised product, facilitating immediate conversion
- Display of ads only to targeted customers searching for items relevant to your category
- An improved product ranking and a higher general ranking for your brand
- Ability to experiment with product combinations and other parameters to improve SKU performance of non-selling products.
- Ad campaign monitoring and optimisation from seller hub
- Detailed, actionable ad performance reports in real-time which allow sellers to identify promising products, ad groups, and best-selling product combinations
As already highlighted above, Flipkart would only charge you on the basis of actions rather than the impressions that you achieve on your products. This gives you a higher Return on Investment. A click would cost you between INR 0.50 and INR 1.50, depending on the product category. Further costs of setting up an ad campaign depend on the number of products you want to promote. Ad companies quote the price after studying your requirements.
- Spike Sales
During spike sales. Flipkart provides exciting offers on almost all the categories. This attracts a maximum number of buyers and drives huge traffic to the website as well as through the mobile app. You don’t just get to hike your sales with minimal effort but also reach more buyers at one go.
Flipkart offers Spike Sales under “Big Billion Days”. In the year 2019, Big Billion Days began on September 29 and ended on October 4, covering the Navratri- Diwali period which is considered auspicious in the Indian Households.
Also Read: Retaining Customer Loyalty Through Flipkart
According to the statistics on Flipkart.com:
- One TV was sold every second, 500 beauty products sold every minute, 1.2 Lakh fashion items sold every hour and 2.4 lakh headphones sold everyday
- The total visits on the website were equal to 17 times the footfalls of Kumbh Mela
- Dimapur in Nagaland and Khawzawl in Mizoram were the farthest pin codes served, thus cementing the fact that customers from every nook and corner of the country are shopping online and during the Big Billion Days.
Also Read: How To Successfully Sell On Flipkart
Ecommerce is the future. With the dream of Global Village becoming a reality, it is the need of the hour to provide the best and low-cost products to the consumer. The products offered maybe a few but the sellers offering these are many. So, you need to be smart and place your products appropriately to beat the other sellers and benefit from the e-commerce model.
To achieve your objectives in the e-commerce space, apply for online seller finance at Indifi.com. Start the application process by filling in a few details like — loan requirement (amount in INR), name, contact number, and email id. Complete the application process by furnishing a few basic details about your e-commerce business like PAN, business name and so on. Receive the best working capital finance for your online business that is customized to your business requirements. Use the funds and take your eCommerce business to the next level.
Indifi is a market leader in providing the necessary information and sharing innovative ideas on all such finance-related matters and business models. Its research and insights have always been very useful for companies looking for solutions on business development.