7 advanced and critical strategies to increase your sales

Jeff Bezos, the founder of Amazon, says: "Customers today are not just looking for the product, but are looking for the experience," and in light of the accelerating transformations in the Arab region, the success of companies no longer depends only on the quality of the products or services they offer, but has become closely linked to their ability to provide an integrated experience across different sales channels that meets customer needs and exceeds their expectations.

With increasing competition in the Saudi market, especially in light of the unprecedented economic renaissance and increased demand for innovative solutions to enhance sustainability and growth, advanced strategies such as leveraging big data and relying on artificial intelligence technologies have become essential tools for large companies seeking to increase sales and build long-term loyalty to their brand.

In this article, we will reveal the most important advanced and critical strategies that commercial activities can adopt with the aim of noticeably increasing sales and achieving more profits.

The most prominent sales increase strategies in 2024

Jack Ma, the founder of Alibaba, expresses the importance of relying on innovative strategies, saying: "Success is not a matter of luck, but the result of well-thought-out strategies and smart implementation," so we have gathered for you the most prominent advanced strategies that you can rely on to enhance sales growth for your business, including:

1. Leveraging the power of big data

According to the report issued by KPMG, companies that invest in big data analytics achieve an increase in profitability and performance exceeding 11%. Big data is considered one of the most important strategic tools that commercial activities can use to increase sales, as this data allows companies to understand their customers more deeply by analyzing purchasing patterns, behaviors, and preferences, and then providing deep insights into customer behavior, market trends, and new opportunities for growth and expansion.

For example, companies can use this information to customize offers and products in a way that suits consumers' needs, which increases the chances of completing purchase operations.

The statistics mentioned in many reports confirm this, agreeing that the most prominent benefits of relying on big data are:

• Helping companies make better strategic decisions.

• Improving operational processes.

• Better understanding of customer behaviors and purchasing patterns.

• Increase in revenues and reduction in costs.

To achieve full benefit from big data, it is necessary to:

• Collect relevant data from different sources and departments such as sales, marketing, and customer service, and then work to purify and organize it accurately for use in the analysis process.

• Use advanced data management systems to ensure data accuracy and easy access.

• Invest in smart analysis tools that rely on artificial intelligence to analyze data and extract actionable insights, as these tools help in identifying hidden patterns and providing customized marketing recommendations that help increase sales.

2. Improving user experience through Hyper-Personalization

A recent study conducted by Deloitte found that hyper-personalization can increase brand sales and return on investment by 80%.

Hyper-Personalization is an advanced strategy that aims to improve the user experience by providing content and offers specifically designed to meet the needs and preferences of each customer individually.

This strategy relies on analyzing big data and artificial intelligence technologies to understand customer behavior and anticipate their needs to meet them, thereby contributing to innovating ideas that help increase sales by giving customers the feeling that they are receiving a customized experience that precisely meets their expectations and preferences.

This sophisticated strategy is implemented through machine learning-based recommendation engines that work to provide personalized product recommendations or exclusive offers to consumers, enabling companies to enhance customer loyalty and increase conversion rates.

The following statistics show the importance of applying the hyper-personalization strategy for commercial activities to gain customer satisfaction and increase sales traffic:

• 71% of consumers feel frustrated when the shopping experience is impersonal.

• While 83% of consumers say they are willing to share their data to create a more personalized experience.

• And 84% of consumers express the necessity of being treated as individuals and not just a number to attract their attention and accelerate their purchasing decisions.

• And 70% of customers say that the company's understanding of their personal needs affects their loyalty to the brand.

To achieve the maximum possible benefit from the hyper-personalization strategy with the aim of increasing sales for your business, you can use these tips:

• Gather comprehensive data about your customers to understand their preferences and needs.

• Divide customers into groups based on their behavior and interests to increase the effectiveness of the strategy.

• Invest in advanced analytics platforms that collect and analyze customer data from multiple sources, and rely on artificial intelligence and machine learning technologies to accurately understand patterns and predict customer behavior.

• Create comprehensive customer profiles that help provide personalized recommendations based on purchase history, browsing preferences, geographic location, etc.

• Ensure that all systems and applications are well integrated to smoothly exchange customer-related information.

• Be sure to integrate augmented reality (AR) and virtual reality (VR) technologies, if possible, to enable customers to try products before purchase.

3. Creating harmony between different sales channels (Omnichannel)

This is one of the pivotal sales increase strategies that aims to use multiple sales channels such as physical stores, online stores, smartphone applications, and social media; to achieve a unified, integrated, and consistent experience for customers regardless of the channel the customer interacts with, which enhances customer loyalty and contributes to increasing sales.

When consumers feel that their experience is seamless and interconnected across all sales channels used, it encourages them to interact and purchase more.

The statistics indicate that companies applying this strategy achieve significant benefits compared to those that rely on a single sales channel. According to the report issued by Worldmetrics:

• Commercial activities that adopt the reliance on multiple sales channels for customer interaction witnessed a 7.5% decrease in cost on an annual basis.

• While some brands incurred losses of up to 10% of their sales as a result of failure to provide a consistent and seamless experience across different sales channels.

• Retailers who implement the omnichannel strategy see a 10% growth in annual revenues.

• The average customer retention rate for multi-channel retailers is 89%.

• The statistics in the report also indicate that 73% of shoppers use multiple channels during their shopping journey.

• For every dollar spent, multi-channel customers spend an average of 2 to 4 dollars more than single-channel customers.

• While 41% of consumers who use multiple channels buy more from the company than single-channel buyers.

• While 91% of customers prefer brands that offer multi-channel sales experiences.

• And 68% of shoppers who have a multi-channel relationship with the retailer are expected to return to that retailer within 6 months.

To implement this strategy effectively, it is necessary to:

• Maintain the integration of all different systems involved in the sales process such as the Customer Relationship Management (CRM) system, the order management system, and other systems to ensure a seamless and consistent customer experience across different channels.

• Improve the user experience by designing attractive and easy-to-use user interfaces across all sales channels to stimulate interaction and purchase.

• Effective communication by providing dynamic communication channels with customers such as email, social media, and live chat to meet their inquiries and provide the necessary support in real-time.

4. Reliance on Dynamic Pricing

This is an advanced strategy that relies on automatically adjusting the prices of products or services based on several factors such as the volume of demand, the nature of competition, peak seasons, and customer purchasing patterns.

Large commercial activities use this strategy to benefit from market fluctuations and achieve maximum profit. According to many studies, companies that rely on dynamic pricing strategies can improve their revenues and increase their competitive capacity by up to 2% to 5%, which leads to an increase in profits by 10% to 25% depending on the use of artificial intelligence technologies and data analytics, and the ability to adjust prices quickly in response to changes in supply, demand, and intensity of competition, in addition to achieving faster inventory turnover rates, and reducing storage costs by up to 9.6%.

For example, Walmart, a leader in the retail field, saw an increase of 5-15% in revenues after applying dynamic pricing strategies. E-commerce stores like Noon and Amazon also rely on adjusting prices based on the volume of demand, or available inventory, and adjusting prices according to peak seasons, which leads to increased sales by offering competitive and attractive prices at the right time.

We point out that this strategy allows companies to precisely improve their pricing strategies to suit the market. Through continuous data analysis, companies can determine the most profitable times to reduce or raise prices. This not only helps increase revenues, but also contributes to improving the customer experience by providing customized offers and prices that suit their needs and expectations.

However, companies must be wary of negative reactions from customers who might feel exploited if prices change excessively and unexpectedly.

To implement the dynamic pricing strategy effectively to serve your business activity, you can use these tips provided by experts in the field:

• Use modern technology: Companies must invest in data analysis systems and algorithms that help track market changes and determine the best times to adjust prices.

• Continuous monitoring of competitors: Companies must monitor the movements of competitors in the market to ensure that their prices are competitive and attractive to customers.

• Transparent communication with customers: It is important to clarify pricing policies to customers to avoid misunderstanding and enhance trust in the brand.

• Regular performance evaluation: Companies should regularly review the performance of dynamic pricing strategies to ensure the achievement of financial goals and identify any possible improvements in the strategy to ensure sales increase effectively.

5. Establishing strategic partnerships with suppliers

This strategy is one of the most important strategies that companies can adopt to increase their sales and enhance their competitive capacity in the market. These partnerships express long-term relationships built on trust and mutual cooperation between the company and suppliers. Through these partnerships, commercial activities can improve the quality of their products and services, and ensure the continuous availability of raw materials or basic components at competitive prices, which allows focusing on developing their products and services better, and enhances their ability to meet customer needs and increase their market share.

Applying this strategy is beneficial in:

• Reducing operating costs by obtaining discounts on large quantities or obtaining convenient payment terms.

• Improving the supply chain and increasing logistical efficiency, which reduces the time required to launch products in the market.

• Enhancing innovation through collaboration in developing new products or improving current products, by leveraging the experiences and technical knowledge of suppliers.

To implement this strategy professionally, commercial activities must carefully select suppliers and evaluate them periodically to ensure their ability to meet the company's specific requirements and needs. The relationship must also be built on continuous communication and transparency, with clearly defining shared goals and expectations, in addition to investing in technology that facilitates managing the relationship with suppliers, such as supply chain management systems that allow tracking orders, inventory, and communicating effectively.

By adopting these practices, companies can enhance their relationships with suppliers and achieve maximum benefit from strategic partnerships and use them to boost sales traffic.

6. Investing in product development:

This is one of the effective strategies adopted by large companies to enhance their competitive advantages in the market. By improving existing products or developing new products, companies can meet the changing needs of consumers more efficiently, which leads to enhancing customer loyalty to the brand and increasing market share. When a company offers innovative products that meet or exceed consumer expectations, it puts itself in a strong position to stand out from competitors, as well as exploring new markets or meeting the needs of a new segment of customers.

This market expansion contributes to increasing sales and promotes the company's long-term growth. Investing in product development also gives commercial activities greater flexibility to adapt to market changes. Through continuous innovation, companies can reduce the risks associated with changes in demand or the emergence of new competitors, and it is an effective way that prevents the business activity from relying on a single product or market, which helps achieve greater stability and maintain brand sustainability and protection against market fluctuations.

To ensure the success of this strategy, you can follow these tips:

• Be sure to conduct detailed market research to understand current customer needs and future trends and identify available opportunities and features that pique customer interest.

• Create a work environment that supports creativity and innovation, motivate employees to submit new ideas, and allocate time and resources to develop these ideas.

• Work to encourage collaboration between different departments such as marketing, research and development, and sales to ensure the alignment of efforts with the set strategic goals.

• Before launching the product into the market, be sure to test the prototype and get feedback from users to improve the product and ensure its quality.

7. Improving shipping operations management and various operational processes

This is a vital strategy that effectively contributes to enhancing sales traffic, improving supply chains, reducing costs, and increasing the efficiency of product delivery to customers. According to many studies, more than 87% of customers consider shipping speed an essential factor in their decisions about repurchasing from the same store, and 67% of consumers expect orders to be delivered on the same day or the next day, which makes fast shipping an important competitive advantage contributing to increasing sales.

By searching for effective solutions to improve the management of shipping operations and various operational processes, companies can reduce the time taken to prepare and deliver products to consumers at specified times, and track shipments in real time, which leads to gaining customer satisfaction and enhancing trust in the brand.

Applying this strategy requires searching for a strategic partner such as Otto, the integrated and leading shipping gateway in the Arab world and Turkey, which allows the possibility to ship, manage, track, return, and analyze orders, thanks to its containment of 6 advanced technical systems to facilitate the management of orders, drivers, and warehouses, in addition to automating all operational processes according to customized rules that facilitate the management of all shipping-related operations.

It also allows the possibility of direct linking and dealing with more than 250 local and international shipping companies and shipping at competitive prices with discounts up to 90% or shipping according to your customized contract prices and relying on the Otto platform as an integrated administrative system to manage and coordinate all shipping-related operations.

Moving from discussing the most prominent sales increase strategies, we move to answer this important question:

What are the reasons for increasing sales for your online store?

There are many reasons leading to increased sales for your commercial activity, and they are:

First: Improving product or service quality:

This is one of the main reasons for increasing sales. When you offer a high-quality product or service, customers feel satisfied and confident in your brand, which leads to increased loyalty and repeat purchases. High quality often leads to positive word-of-mouth recommendations, as satisfied customers tend to share their good experiences with friends and family, which contributes to attracting more new customers, and these recommendations are more effective than any marketing campaign because they come from a trusted source.

Second: Developing marketing strategies:

The reliance on innovative marketing strategies contributes to a significant impact on increasing sales. By using effective marketing channels such as social media, email, and search engine optimization (SEO), a wider audience can be reached and brand awareness increased. Effective marketing requires a deep understanding of the target audience based on analyzing data and purchasing behaviors to be able to customize marketing messages to meet their needs and desires, and design more accurate and effective marketing campaigns, which leads to enhancing the conversion rate and thus increasing sales.

Third: Expanding into new markets:

This is one of the critical reasons that contributes to increasing sales and opening new growth opportunities. When commercial activities enter new geographical or demographic markets, they increase their potential customer base and benefit from untapped demand. Expansion into new markets also helps diversify revenue sources, as relying on a single market is fraught with risks, where sales can be affected by economic or political changes in that market. By expanding through targeting new cities or countries or even different age and demographic groups, companies can reduce these risks and achieve greater financial stability.

Fourth: Improving pricing strategies:

This is considered one of the most important reasons leading to a noticeable increase in sales. Smart pricing strategies that achieve a balance between the value expected by the customer and the cost they incur, contribute to enhancing the attractiveness of the product or service. By using techniques such as dynamic pricing, companies can adjust prices based on demand or season periods, which helps increase sales at appropriate times. In addition, strategies such as temporary discounts or offer packages can attract new customers and encourage existing customers to buy more, which leads to increased revenues.

Fifth: Providing excellent customer service:

This is an essential element in enhancing the customer experience and increasing their loyalty to the brand, which in turn leads to increased sales. When customers feel that they are receiving attention and appreciation, they are more willing to return again and recommend the products or services to others. Excellent service includes quick response to customer needs, providing effective solutions to their problems, and ensuring a seamless and comfortable experience at all points of contact with the company, which leads to creating a positive relationship between the customer and the business activity, which enhances trust and loyalty, which translates into continuous sales and increasing growth.

Moving from the reasons for increasing sales, we move on to talk about the practical and followed ways to achieve higher sales for your store.

The most important ways to increase sales

There are many practical methods followed by various commercial activities, including, for example:

Improving the customer experience throughout all purchasing stages

The customer experience does not start at purchase and does not end at payment, but is a complete journey that begins from the moment they learn about the product or service, as every point of interaction with your brand – from website design to responding to inquiries – affects their decision. Therefore, it is important to ensure easy website browsing, fast page loading, and clear purchase and payment steps. Obstacles that impede order completion, such as complicated payment procedures or a lack of delivery options, must also be reduced, as the smoother the experience, the greater the chances of closing and achieving the sale.

Developing marketing content and using promotional offers

Content is the main engine for any successful marketing campaign. Writing an attractive product description, using high-quality images, and producing explanatory videos all affect customer decisions. Good content not only sells but persuades and reassures the customer that they are making the right decision.

Promotional offers also play an effective role in attracting attention and increasing sales, especially when launching a new product or during seasons, so these offers must be well-thought-out and highlight the real benefit to the customer, and not just a price reduction.

Offering limited-time offers

Experience has proven that customers respond greatly to offers restricted to a specific time, such as discounts that end within 24 hours or the end of the week. This method relies on stimulating the fear of missing out (FOMO), which is one of the strongest behavioral motivators that drive consumers to act quickly without procrastination.

To enhance the effectiveness of this type of offer, it is recommended to use a countdown timer, or notification alerts via notifications and email, while clarifying the limited time or quantity, which enhances the sense of urgency and noticeably increases the conversion rate.

Increasing the average basket value through cross-selling and upselling

Among the most successful practical methods for increasing sales are the techniques of upselling and cross-selling. The former relies on persuading the customer to buy a higher or more advanced version of the product they desire, while the latter is concerned with suggesting complementary products to what they intend to buy. For example, when buying a smartphone, a fast charger or a protection case can be suggested next to it at a special price. This type of simple suggestion contributes to increasing the average order value without the need to attract new customers, which makes it one of the easiest ways to achieve higher profits from the same number of visitors.

Retargeting advertising to persuade the customer

Studies indicate that more than half of online store visitors do not complete the purchase process from the first visit, and this is where the effectiveness of retargeting ads comes from, which display personalized ads to users who have previously visited the site, without completing the purchase. This method allows the customer to be attracted again while they are at an advanced stage of product awareness. It is important that the advertising messages at this stage are more personalized, such as: "The product you loved is still available - with a special discount just for you," to reactivate their desire to purchase.

Providing a money-back guarantee to remove the psychological barrier

A clear money-back policy is one of the most prominent factors that reassure the customer and encourage them to purchase, especially when dealing with the store for the first time. When the customer knows that they can get their money back if they are not satisfied, their hesitation decreases and they feel they are buying without risk.

To achieve maximum effectiveness, the return policy must be clear and simplified, free of impossible conditions, and this policy can be reinforced with messages such as "Buy without worry - you can return within 14 days," which gives the customer peace of mind and increases confidence in the brand.

Relying on Bundles

These are proven ways to increase sales that raise the value of the shopping basket without pressuring the customer. The idea is based on collecting several related products in one offer at a preferential price, which gives the customer a feeling that they are getting a "winning deal." For example, a "Everything you need for the kitchen" bundle can be offered, including a food processor + blender + cutting tools at a price lower than buying each product separately. This method not only contributes to increasing sales but also helps in disposing of less popular products within attractive offers.

Leveraging social proof

Many consumers rely on the ratings and opinions of other users before making a purchase decision, and this behavior is part of what is known as "social proof." Products with high ratings see significantly higher purchase rates than those lacking any reviews.

To achieve maximum benefit from this method, it is recommended to establish an easy system for requesting a rating after each purchase, with displaying the most prominent reviews on the product page, and it is also preferable to respond to ratings, whether positive or negative, to create an impression of attention and follow-up.

Benefits of increasing sales for online stores

Increased sales achieve multiple benefits for online stores, including:

Improving cash flow and business stability

Increased sales directly lead to enhanced cash flow, which gives the store financial liquidity enabling it to meet its operational commitments regularly, as having renewable income means the ability to cover shipping, storage, and marketing costs without financial pressure.

Regular cash flow also forms the basis for long-term business stability. When revenues are strong and growing, the store's reliance on loans or external financing decreases, and its flexibility in dealing with seasonal or unexpected market changes increases.

Enhancing the ability to expand and grow

High sales volume opens the door to new expansion plans, such as launching dedicated electronic branches for other countries or markets, or adding new product lines targeting different customer segments. The higher the revenues, the greater the store's ability to take calculated risks.

Thanks to sales growth, the store can invest profits in improving technical infrastructure, expanding the team, or developing the user experience, which are essential factors for maintaining competitiveness and achieving sustainable growth.

Improving negotiations with suppliers and shipping companies

When the store achieves high sales rates, it possesses a strong bargaining chip when negotiating with suppliers or shipping companies. Suppliers prefer dealing with entities with high sales volume because that means continuity of demand, which may lead to significant discounts or convenient payment terms. Active stores can also obtain preferential shipping prices or priority in logistical processing. These privileges reduce costs and improve the profit margin, and give the store a greater ability to offer competitive prices to final consumers.

Building brand trust and increasing its credibility

If the commercial activity witnesses an increase in sales, this contributes to enhancing its reputation in the market, as it is viewed as trustworthy and desirable by a wide segment of consumers, and this positive impression enhances the confidence of new customers and increases the loyalty of current customers. Sales volume can also be used as a marketing tool ("More than 10,000 customers trusted us"), which gives the store greater credibility and increases the effectiveness of promotional campaigns.

Increasing the store's ability to invest in advertising and marketing

Every successful sale enhances the store's advertising budget, which allows it to launch larger and more targeted campaigns, and thus increased sales turn into fuel for new marketing campaigns that reproduce growth. When marketing resources are available, the store can test new channels such as influencer marketing, search engine optimization, or paid advertising on social media, and this marketing expansion in turn leads to an increase in new customers and thus the continuation of the growth cycle.

Enhancing customer loyalty and increasing repeat purchases

The more the store succeeds in attracting new customers and achieving sales, the greater the opportunities to enhance relationships with them in the long term, as the success of the first purchase experience increases the likelihood of returning to purchase again, especially when integrating strategies such as loyalty programs or personalized offers. Increased repeat purchase rates also reduce reliance on expensive advertising campaigns to attract new customers, which achieves a healthy balance in the revenue structure between new and permanent customers.

Conclusion:

Achieving sustainable success does not require relying on a single strategy. The diversity of strategies and investment in their development represent the basic key to achieving sustainable growth. By working to integrate different strategies, your business can remain at the forefront of the competition and maintain the ability to adapt to continuous market changes and provide added value to customers, which contributes to enhancing the company's position, maximizing its profits, and ensuring success and continuous growth in the changing business environment.