If you ask the two most important factors to drive sales, that are urgency and scarcity. If you create urgency in your product or a deal, this will surely drive more Online sales than normal. That’s how human psychology works. Creating scarcity will encourage users to take the action instead of postponing it.
If you talk about human nature in general, a human will act fast when there is an urgency. Humans have the nature of postponing things instead of working on them. However, if you create scarcity, they will act on it.
Let’s take an example. If you went shopping and you see that there are enough products available, you might not plan to buy them at that particular time. You might simply think that you will buy it next time. However, imagine if there is only one quantity left, people will hurry and take the action as soon as they can. This is how the human mind works.
There are some of the basic principles you can follow to apply this in an online store.
The well-known technique is timebound. The goal is to simply create a timer about the offer or the quantity. “Offer expires in 12:21:22” will work the best. The goal is to show the timer on the product page itself. If you set the seconds as well, it will create more scarcity as people can see the time count.
The position “Call To Action” button plays an important role. A properly designed website attracts more visitors, but if we keep CTA as well as the timer in such a way that people can see both of them then it is like the cherry on the cake. Many eCommerce websites fail as a customer find it difficult to buy products easily and conveniently. If you keep the “Add to Cart” or “Buy Now” button properly on the HomePage or Product Page, it works the best.
Don’t go with hard works when you are creating urgency. Make sure people can notice the time. For example, instead of going “Offer to expire soon”, be specific and show the real-time when the offer will expire. You can set “Offer expired in 12 hours 12 minutes and 5 seconds”. Like we mentioned above, showing seconds will help you a lot as people can see the time decreasing.
There are many ways to implement urgency and scarcity when you are running an eCommerce store and create an Online Sale
You can surely add a countdown timer in your store. This works best when you want to increase scarcity in a single product. You can simply show a timer that will do the work. The time clicking clock creates urgency in the human mind and compels him to create an Online Sale.
Flash sales are another great way to increase Online sales. You can set a flash sale for 30 minutes or a couple of hours only. This makes people buy the product that they are not even planning to buy. You can also show the percentage of sales. For example, you can show “25% claimed”. This increases scarcity.
Popups are a great way to increase Online sales. Once you set the timer, you can show it in a popup. Whenever the user opens a product page, a popup will show them how many minutes are left for the offer. So, even if the person didn’t see the timer, they will automatically know about it.
Limitations are good if you can set them right. This might also decrease sales. So, you need to do your research and analyze the store before you make the decision. For example, if you are getting 10 sales daily, you can set the 12 stocks limit. However, if you set 5 stocks limit, it will decrease the Online sales instead of increasing them.
You can have a loyalty program or a premium membership where you can show the offer first to the prime customers. This is only suitable for a store with decent customers.
To conclude, that’s all about scarcity and urgency. Whatever you do, make sure you manage the demand and supply properly in order to have Online Sales. Like we mentioned in the 4th point of implementation, you need to keep in mind the demand and supply both properly.