Unleash your eCommerce potential with NetSuite
Unleash your eCommerce potential with NetSuite
With increased digitization, eCommerce sales are in trend across the globe. With increased sales comes higher instances of returning the bought items. This process keeps the eCommerce companies busy with handling return requests and managing the accounting functions of recording with sell/returns.
In this process, the e-retailers forget to follow up with customers, and resultantly the sales decline.
You must incorporate new tips and tricks to recover from the downward trending sales. The NetSuite eCommerce solution helps you with implementing these strategies. Let us discuss these strategies that will help you recover, sustain, and even grow the revenue numbers:
Quick NetSuite eCommerce Strategies to manage your numbers
Clear out the old inventory with heavy discounts and offers
Sometimes, e-retailers buy a lot of inventory during festive seasons with an anticipated rise in demand. The sales number is good during these times, but the warehouse may still have stale inventory. You must sell this inventory as soon as possible to replace it with new products and save on working capital. Also, some of these products may be too old for the new times.
To clear out the excess inventory, you can adopt the following strategies:
- Give some gifts to your loyal customers. It will make them happy, leading to increased sales in the future.
- If you can bundle some items from the inventory, do it and add attractive offers on them to increase their sales.
- Add deep discounts to products you cannot offer in bundles to clear them.
- You can gift the customers buying from your store for a specific duration or exceeding a certain amount of money.
- Add heavy discounts to items with limited shelf life or those expected to not be in trend post-festive season.
Never ignore the new customers
You have the list of new customers added to your business. Use this data to send customized emails thanking them for purchasing from your eCommerce store. You can also add offers and discounts on items related to their primary product.
Over a period, people will forget that they bought an item from your eCommerce site. So, please send an email and feed them information about offers to keep the relationship active.
The benefits of this strategy are:
- Customers feel special when you send them a customized email.
- If they are happy with the product, they will be tempted to buy more from your site/app.
Target abandoned carts
Your potential customers abandoned their shopping carts mid-way due to some reasons. Your sales can increase if you convert them to orders, boosting your revenues. So, do not ignore these shopping carts.
Send an email with attractive offers specifically to customers with abandoned carts. You can add special discounts or a gift for them to complete the sale.
It is retargeting. You know your customers’ preferences through their shopping carts. So, you need to send them email reminders with attractive offers.
Keep your website and social media active
You cannot be quiet. Keep your website and social media engagement active. Keep engaging with your existing customers. Please send emails to them. Introduce new offers or discounts or engage in online competitions.
You can also have regular interactions with your customers on social media. You can ask them for photos or feedback using your products bought from your eCommerce site. Adding new blogs around trending items to your website can help you attract more visitors.
‘Sale’ always works
The word ‘SALE’ is appealing any day of the year because some customers keep looking for the best deals throughout the year, not only during festivals.
You can try innovative offers, incentives, and discounts to attract customers. Some of the incentives can include the following:
- Reduced membership fees for customer loyalty programs or gifts on membership
- Free shipping on shopping amount more than a specific limit
- Clearance sale where you clear off the festival-specific or season-specific products
- Discounts on old inventory
Improvize your return policy
Customers tend to return some of the items purchased. So, as an e-retailer, you must optimize your return policy to manage returns. Some strategies that you can adopt:
- Make the return process smoother to make customers happy.
- Encourage the exchange of products instead of returns to keep your sales unchanged.
- Ask customers about the reasons for returns. These reasons will help you design marketing strategies for that customer or make product recommendations.
- You can create upselling opportunities on return or exchange requests.
- You can bundle some products with the exchange request at a discount.
Optimize your eCommerce business with NetSuite’s eCommerce solution
The marketing, sales, and strategy team must select the best strategies for the company’s benefit. But a decision that impacts the implementation of these strategies is the selection of an effective eCommerce solution.
Oracle NetSuite eCommerce solution can drive your business’s sales, revenues, and reputation. It is a feature-rich cloud eCommerce system ensuring relevant and engaging online experiences for your customers. It is a complete eCommerce solution with integrated:
- Marketing management
- Accounting and Financial management
- Inventory management
- Customer services
- Order management
You have all these business functions integrated to give you complete data visibility. Such real-time, up-to-date data visibility helps you make timely and informed decisions and eCommerce strategies. These, in turn, help you meet your customers’ expectations.
NetSuite eCommerce platform helps you:
- Collect and store customer data and segment them based on different characteristics
- Analyze sales to understand buying behaviour that helps in creating offers and discounts
- Manage inventory throughout the cycle to reduce handling costs and wastage
- With automatic updates and a host of extensions to make your website attractive
- Launch new promotions and marketing campaigns tailormade to customers’ needs
- Have detailed product information on your eCommerce portal, including images, filters, comparisons, reviews, ratings, sharing facilities, etc.
- Integrate front-end and back-end systems of your eCommerce business to speed up the processes
- Manage orders efficiently and on time to please customers, which helps in customer retention and loyalty for your brand
- Handle the accounts of every order by sending the invoice to customers immediately after receiving the order
How does Cloudiotech help you?
The NetSuite eCommerce system provides all these benefits to you. And Cloudiotech makes these benefits possible by providing NetSuite solutions and services to clients. We are a leading NetSuite solution provider in the US and the UAE, providing services to clients in different industries.
We provide the following NetSuite services to our clients:
- NetSuite Implementation
- NetSuite Customization
- NetSuite Integration
- NetSuite Configuration
- NetSuite Data migration
- NetSuite Employee training
- NetSuite Ongoing support
Our NetSuite experts customize services as per your business needs and industry requirements. We keep your customer expectations in mind to enable you to meet those through the NetSuite solution. We push your business growth plans through our extensive and effective NetSuite implementation services.
To empower your eCommerce business with effective NetSuite services
Contact Cloudiotech’s NetSuite consultants.