Are Coupons Today's Key To Online Sales?

We at First Scribe don't claim to be economists but we know a tough market when we see one. Bloomberg.com reports the Dow Average's Drop into a bear market and many are feeling the pinch.

How is it affecting online sales?

High gas prices can actually be a boon to online revenue. Online retail studies are showing that nationwide, shoppers are increasingly looking at the Internet earlier in the buying process. Unfortunately, we are seeing numbers down on the Internet as well.

So, what to do about sinking online sales numbers?

If summer is your season and your numbers are down, we don't need to tell you that it's time to move. Here's a few quick ideas to turn some numbers:

1. Create a coupon with a limited-time offer. Put a big-old button that allows them to email it to a friend. Maybe you give them a better deal for each friend they email (up to a point, obviously). The idea is to get your site under as many noses as possible. A coupon is a tangible item they print/hold during an online purchase.
   
   
2. Offer free shipping or free in-store pickup. Gas prices are a quantifiable issue and free shipping speaks right to the problem. Ten percent off is a great idea but free shipping will save them a trip in the car.
   
   
3. Send 2 email blasts. Split your database in half; send a shipping offer to one half and a percentage off to the other half. Then, measure the results and hit the weak half with the opposite offer.
   
   
4. Make sure everything on your website is in stock and ready to go. People visit your website to buy - not to browse your stock issues. If it's out of stock, get it off the site.
   
   
5. Finally, put something on sale and make sure people know it's On Sale. Get the featured item on your home page change to another item if you don't sell any within 1-2 business days.