Why Your Business Must Model Amazon Right Now
Holiday sales season is here!
However, it’s weirder than ever with lockdowns, social distancing, political unrest, etc. Not to mention you are bored and probably sick of your family (well, the family members the government “allowed” you to spend Thanksgiving with at least).
What are consumers going to do now to break out of their funk?
Even with limited resources, consumers are making huge purchasing decisions right now (I predict this run will last until the new year, and then we’ll probably see a slow down).
Customers are ready to shop and we are EXCLUSIVELY releasing our 10th consumer survey today so you can get a MASSIVE edge over your competition in these “weird” times.
What does the new data say that will help you?
I recently joined the top-rated financial morning show on TV, Fox Business’ “Mornings with Maria,” to discuss what’s driving consumer markets and how you can benefit.
According to our 10th consumer study analyzing over 40,000 consumer respondents and matching it to 200 million+ consumers, 550 million+ connected devices, tracking 10 billion daily purchasing decisions, and 1 trillion daily searches….there are two sales trends that will get you more conversions right now:
1. Market to Discounts: A year ago, I would advise almost all of our clients at Win BIG Media to never even use the word “discounts” in their marketing. But it’s clear from studying months of data that the barrier in consumers’ mind right now is the price. If you can’t remove that barrier before you get them into your sales funnel, you will lose them as customers. Our consumer data makes this clear.
2. Reduce Friction to Transaction: Since the spring, we’ve released ten consumer studies, and all have stated that the customer needs an easy, clean experience to make transactions. You must make it effortless for them — or risk the sale. Don’t take my word for it, though — according to Yokoco, “Mobile users are 5x more likely to abandon a task if the site isn’t optimized for mobile.” And according to Compuware, “A single bad experience on a website makes users 88% less likely to visit the website again.”
Still confused on what to do?
Here is my advice on a bumper sticker — Be Like Amazon. Competitive pricing with as few clicks as possible — and the transaction is made.
That’s what your customer wants, so deliver it to them.
But that’s not all!
I’m giving you one final insight that I guarantee will make you money…
If the backbone of sales right now is price and convenience, how can you take those new holiday customers and turn them into lifelong raving fans of your business? It’s all about making a deeper connection with them once they are inside your funnel.
As a bonus, I’m re-releasing my post from last year on how to do just that. This 5-step process will leverage your holiday sales into massive lifetime value (and I believe it’s the most important marketing article I’ve ever written for business owners).
Now, go crush it…and happy holidays!
When you become a subscriber to my exclusive bi-weekly data insights articles, you will always get first (AND FREE) access before anyone else. If you know someone that will benefit from these key insights, forward this article and/or data to them so they can use it in this critical moment.
Also, I am giving you FREE access to all of our data and surveys (+ our two data reports/surveys analyzing the protest culture on consumers) — just go to winbigmedia.com and click on the “COVID-19 Consumer Research” tab.