11 different strategies to pull your customers through the sales funnel and increase your profits in fashion accessory sales.
In this post, we are going to discuss 11 different strategies to pull your customers through the sales funnel and increase your profits in fashion accessory sales.
How to Increase Your Profits in Fashion Accessory Sales: 11 Effective Marketing Strategies
There are numerous ways to help you get there, but few offer a better return for your effort than accessory sales. Fashion accessories are well-known for their ability to boost margins and retain customer interest.
What is The Fashion Marketing Sales Funnel?
Let’s dive into some of the ways we can drive our customers down the funnel and increase profits on fashion accessory sales.
Run A/B Tests for In-Store, Online, And Email Accessory Marketing
Incorporate Suggestive Selling Techniques
Offer Irresistible Sale Discounts
Hold Seasonal & Holiday Promotional Events
Focus on Customer Convenience with Virtual Shopping Tools
Strategically Place Accessories in Your Store
Showcase Your Products on Social Media
Incorporate a “Shop by Outfit” Experience in Store and Online
Run a Giveaway a To Increase Accessory Product Awareness
Incorporate Pop Culture into Your Displays & Product Lines
Level Up Your Customer Service
The fashion marketing sales funnel: Represents the steps a consumer takes before finally purchasing your product in the last stage of the funnel. There are a few levels in a sales funnel, usually known as the top, middle, and bottom of the funnel, although these steps vary depending on a brand’s sales model.
The goal is to attract a wide consumer base and work to pull them through to the bottom of the funnel, losing as few customers along the way as possible.
What Is A Marketing Sales Funnel?
Before you learn how to understand and assist customers how to increase sales in fashion accessories, you must understand what the marketing sales funnel is and how it will apply to your fashion business.
If you’d prefer to speak with a website or Internet marketing expert directly, you can reach Bless on 0246490036
Just like an actual funnel, the top of the theoretical sales funnel is wider than its bottom. Not everyone who walks by the storefront will enter. Not everyone who does enter will buy your products. And finally, not everyone who buys clothing will buy accessories.
- Run A/B Tests for In-Store, Online, and Email Accessory Marketing
One way to evaluate your conversion funnel and increase your fashion accessory profits, is to study your preliminary consumer behavior through A/B testing.
After your A/B tested advertisements succeed at bringing the customer in, you want to keep them moving through the funnel using suggestive selling techniques, which we will cover in the next section of this post!
A/B testing is the process of comparing two versions of an advertisement, webpage, email, or other marketing material and calculating the difference in performance. The purpose of using A/B testing is to determine which visual advertisements are going to increase traffic and the customer conversion rate while decreasing the website and email bounce rates.
An A/B test could tell you which picture of your accessory had the highest click rate in your email campaign.
Or, you could test which position a mannequin displaying your accessory made them want to enter the store more.
Consumer trends change often, so you should continuously conduct A/B testing to optimize your accessory marketing.
- Incorporate Suggestive Selling Techniques
A/B tested displays alone will not help brands reach their sales goals. However, engaging displays combined with persuasive selling techniques will! Using product knowledge, anyone can learn to incorporate conversational selling into their strategies.
Here are a couple of suggestive selling techniques to know:
Let’s discuss a few ways to retain customers like the one in our example.
Be timely with your add-on sales suggestions. Accessories can increase the total customer bill quickly if the consumer is properly nurtured. Capitalize on this opportunity to introduce customers to other products while they are still in shopping mode, not when they reach the counter.
A “need” is a product that complements the customer’s “planned” purchase. Present the socks in a way that assumes the customer will purchase by saying, “I grabbed a pair of white socks for you, would you like me to bring you the black socks as well?”
When suggesting “want” items, or accessories that do not complement the product the customer plans to purchase, use their interests and information you’ve gathered through conversation to suggest a similar product you feel they might like. Let’s say a customer is set on purchasing a pair of dress heels. You may say, “We just received this brand-new line of summer heels in today, can you try these on to see how they feel? These would be perfect for wearing to breakfast the day after your evening event!” Now the customer is in the second pair of shoes, moving their way through the sales funnel.
- Offer Irresistible Sale Discount Promotions
While promotions can be a cost to your business, running them is an extremely effective way to boost accessory sales for your business and attract new lifelong customers.
Reasons why discount promotions are attractive to you and your consumers:
Before starting your promotion, you need to consider the current costs of your customer acquisitions, product development and restocking, and marketing efforts. Recording and analyzing a detailed inventory report will also help you figure out the type of promotion for the highest return on investment.
For most people, saving money brings peace of mind.
Coupons make people happy! When you receive vouchers and coupons, studies have shown that oxytocin levels increase.
Discount strategies add a layer of time sensitivity to the experience. As a result, your cart abandonment rate decreases, pulling more customers through the sales funnel.
Brands can clear out items that are clogging up inventory by putting them on sale.
In the next section, we’re going to cover how and why you should take advantage of the peak discount promotion periods throughout the year by holding in-store promotional events!
Once you determine a feasible promotion for the company, think about how to “package” it for the consumer so they feel like they have no choice but to buy the product.
- Hold Seasonal & Holiday Promotional Events
A specially designed promotional event can have a significant impact on product demand and sales. By planning several of these exciting events each year, you are giving customers a reason to return to the store on a regular basis.
Like creating any promotional deal, holding a themed promotional event is no easy task. Consider these tips for smoothing out the process to ensure you host a memorable and profitable event!
Choose a promotion that fits your target audience and business goals.
Promote events through your social media channels.
Try to schedule events at least 3-4 months in advance for advertising.
Involve employees in the creative planning process.
Sell, sell sell! Take advantage of this time to really impress customers.
Not only will customers receive good deals, but they will also be persuaded to return to your store again.
The holidays are a great time for brands to leverage events and increase accessory sale profits. Customers are more likely to buy accessory gifts for friends. Also, many people look for accessories when finding outfits to dress for a themed occasion.
- Focus on Customer Convenience with Virtual Shopping Tools
Brands are quickly catching on to how fast technology is developing. Now, they are looking to tap into virtual marketplace opportunities. With a rise of concern for consumer health and safety, this is a perfect opportunity to try these out.
Using digital technologies helps provide a seamless shopping experience for your customer through tools such as:
Customers are more likely to buy accessory gifts for friends.
Fashion accessories are well-known for their ability to boost margins and retain customer interest. Accessories can increase the total customer bill quickly if the consumer is properly nurtured. When suggesting “want” items, or accessories that do not complement the product the customer plans to purchase, use their interests and information you’ve gathered through conversation to suggest a similar product you feel they might like. Now the customer is in the second pair of shoes, moving their way through the sales funnel.
Customers can shop your store products through the convenience of their browser search engine results, rather than clicking through your website to find a product. Fewer clicks for your customer are simple conveniences that can make a big difference in a busy consumer world.
Augmented Reality Technology. Some brands like Warby Parker are taking the next step into digital shopping tools by using augmented reality to help consumers virtually “try on” products without stepping foot outside of their homes. With the brand and a camera’s mobile app, customers can see how different glasses look on their faces.
Chatbots are taking the fashion industry by storm. Similar to an in-person sales associate, ChatBots also guide consumers through the sale funnel by offering assistance with finding a product or answering a question.