Is More Really Better?
Do you know the optimum number of products to have for sale? Many people are worried that offering too few options will leave many prospective customers out in the cold, but do you know the effect that too many products will have? It leads to confused visitors, and fewer sales. This is a great breakdown of why limiting your products offered could be the key to better conversions.
Want To Increase Your Online Sales?
When most people start selling stuff online, they often create extensive product and service lists. They think having a little something for everyone will help them get more sales.
The problem is, people think “more is better,” but in the real world, long product lists are conversion killers. And if you want to increase your sales by 1,000%, you must streamline your offerings.
To illustrate, let me share Sheena Iyengar’s famous field test.
How to Increase Online Sales: Fewer Options, More Sales
Sheena Iyengar, a professor at Columbia University, set up a free tasting booth in Draeger’s supermarket—an up scale grocery store, known for an extensive product selection—on two consecutive Saturdays.
One Saturday, 24 flavors of jam were available, and on the other, 6 were available.
Now take a guess. Which display sold more jam?
Given the “more is better” mindset, you’d think the larger display sold more. But that’s not what happened.
When 24 jams were available, 60% of the customers stopped for a taste test and 3% of those bought some. When 6 jams were available, 40% of the customers stopped for a taste test, but 30% bought some.
Huge results. While the larger display attracted more people, the smaller display sold more jam. About 6 times more. A 600% increase in sales.
Why Fewer Options Lead To An Increase In Sales
Buying products and services is mentally taxing. In most cases, it’s not a “black and white” answer. You need to understand the available information, evaluate if it is the right fit, compare it to competitors, and then decide whether to buy or not to buy.
When you have an exhaustive product list, your prospects will have to go through the above decision-making process for each item on the list.
That’s a ton of work!
And it also leads to what social psychologists call choice overload. To summarize, when people are confronted with several options, they often pick none of them and move on to something else.
This was evident in Sheena’s experiment. When 24 flavors of jam were available, 97% of people chose none, whereas when there were 6 available, 30% bought at least 1.
– via Social Triggers
Try These Strategies To Increase Sales
Sometimes an increase in sales can be down to a simple, small change on your site. By making sure that visitors can trust you, understand the value your product can offer them, and start building a true relationship with your prospects, your conversions could grow exponentially!
Reposition your opt-in offer to boost your opt-ins and build a bigger list of loyal subscribers.
Your opt-in offer is your tool for gathering your customers’ e-mail addresses and building your e-mail list, which allows you to regularly keep in touch with your subscribers, build relationships of trust and loyalty, and sell them your products or services.
But did you know that where your opt-in offer appears on your site can have a huge impact on how many subscribers you attract?
If you don’t use a long sales letter, test placing your opt-in offer in as prominent a position as possible on your home page–the top left of a page is where visitors’ eyes are often drawn first. At the very least, test placing your opt-in in the “top fold” of your home page–the area of screen first visible to a visitor before they scroll down the page.
If you have a long sales letter, you should test placing your opt-in offer within your second “page” of text–after you’ve grabbed your visitors’ attention by identifying a problem they have and established your credibility by impressing them with your credentials, experience and glowing testimonials from happy customers.
Establish a problem in your copy and show how you can solve it.
In the first few paragraphs that appear on your home page, you need to go into more detail about the problem you introduced in your headline–showing your audience that you relate to them. (Only when your audience feels you understand their problem will they feel confident that you can solve it.)
Once the problem is established, you can then begin introducing your product or service as the solution to this problem. By emphasizing exactly how your product or service will solve your reader’s problem, you’re guaranteed to see a boost in sales.
– via Entrepreneur
Have you ever tried any of these strategies? How many products do you offer on your site?