Don't miss out on sales tomorrow
Hey Reader,
The holiday shopping season is upon us.
If you're like my family, you probably do at least some of your shopping online. When you're looking at an item on their website or app have you ever noticed the suggestions below stating something like, "Customers who bought this also bought..."?
How retailors know what you want
Have you ever wondered how it is these large retailors know you so well even though you've only told them you wanted to buy a toaster?
The answer is a little tool called Market Basket Analysis. Simply put, they are able to look at everyone in their "market" and look at their virtual "baskets" to see what items they buy.
So they know people who buy toasters generally buy butter dishes as well. As a result, butter dish sales rise about 40%, all from connected advertising.
You don't have to work in retail
Your business doesn't only have to be in retail to use this tool; you just have to sell more than one thing. Here are some examples:
- Arcades- organizing floor layouts of games to increase playing of less-used games
- Travel Agencies- sell more premium experiences based on client's current choices
- Insurance- offer additional riders based on current base class
- Escape Rooms- Suggest the next experience after the completion of their current
- MUCH more...
Are you missing out on sales?
Suggestion marketing is great for your customers because you are showing them things they most likely need.
Suggestion marketing also can increase your sales by 40-60% or more depending on your business.
If you're not using it currently, you're probably missing out on sales and providing your customers on what they need.
Implementation
To try and implement, look at your past sales and understand what items are bought together.
We've also created a tool which can show you a logical visual of item bought together and analyze all your sales automatically.
Click the button below or reply to contact us and get started.
| Get Started |
Did you find this email helpful? Forward it to a friend or colleague!
Best,
Ben
P.S. I'll be interviewed on a podcast this afternoon from 12-1 p.m. eastern time.
We will be talking all things about business and how data can help.
See the link below. Forward to who you think would benefit from hearing it.
Between The Data
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