Challenge the Competition on Buen Fin: Sales Strategies Revealed
Watch out! Buen Fin is closer than it seems, and with it comes one of the most anticipated seasons for merchants and consumers. This event, which has gained popularity in recent years, offers a huge opportunity to boost your sales and captivate Mexican consumers with irresistible offers.
However, it can sometimes feel overwhelming to think about how you will stand out and beat the competition, which is why it is important not to close off your possibilities and to look for new paths and opportunities.
In this #Cubblog article we will help you shine in your physical or online store and deliver an unforgettable shopping experience for your customers. Are you ready to elevate your sales to Cubbo level?
Buen Fin sales expectations
According to data published by AMVO during the 2022 Buen Fin edition, revenue reached 134.4 billion pesos, representing 23% growth compared to 2021 data.
Taking that reference into account, what percentage of growth do you think it will be this year? According to Vicente Yáñez, president of the National Association of Self-Service and Department Stores (Antad), he forecasts 5% growth in the public and private sector.
💡 #CubboTip We recommend reading this Guide to preparing your e-Commerce for Buen Fin 2023
Why will they buy from your e-Commerce?
Promotions and discounts are a major incentive (67%), but don't get too comfortable — this strategy is the minimum expected during the event. Compared to last year (75%), we see an 8% drop in this incentive.
On the other hand, the motivations that have increased among Mexicans are:
✅ More financing options 36% (+4%)*
✅ Extra benefits or rewards 32%
✅Diversity in payment methods 18% (+5%)*
✅Guarantee in case of damage or defect 17%(-3%)*
✅Secure payment methods 11% (+1%)*
✅Fast return process 9% (-3%)*
*growth percentages compared to 2022
Sell more with these strategies at Cubbo level
Now that you know the main purchase motivations for Buen Fin 2023, it is time to get creative about how to attract or retain your customers and how to convert new consumers into customers.
Below we share strategies to sell more during Buen Fin:
- Plan, plan, and plan ✍️
Start planning your sales strategies well in advance. According to the companies we work with, their planning begins in June and covers all types of scenarios, from demand volume and product production to the types of risks they may face. We recommend analyzing trends from previous years and projecting possible scenarios for this year.
If you don't know how to make sales or demand forecasts read this #Cubblog
- The trick is in the details 🔎
You must use data to your advantage! What were the last products they viewed? How long do they stay on your website? Do they visit many pages? Or if they contacted you through a chatbot or email, did you reply using their name?
The key to standing out from the competition is personalization. Why? Because it directly influences the retention and conversion of new and returning users in your online or physical store. To achieve this, you must know your audience very well and optimize your website. Don't worry! In strategy 4 we tell you how to implement it without spending money.
- Turn your customers into ambassadors! 💙
Want to turn a new buyer into a repeat customer? Use Smile.io, a loyalty platform where you can build a community and start offering incentives so they fall in love with your eCommerce. Also remember that one of the incentives for buying from your store is benefits and rewards (32%).
On the other hand, if you are interested in building a reputation and getting good reviews about your business or products, use judge.me. On this platform you can add the widget in emails or on your website to collect reviews, and it also lets you reply to every message since it centralizes all contact channels in one place.
Pssst… in this video we tell you more about the tools you can use to retain your customers - Optimize online conversion… without spending so much money! 💸
The customer experience must be flawless from the first interaction through post-sale, including quality customer service and efficient processes in your e-Commerce.
The key points are:
* Analyze traffic and behavior of users on your e-Commerce. You can use Google Analytics to better understand your visitors and see how they interact in real time
* Your website must be responsive and fast-loading. Check that it is compatible with all electronic devices
* Optimize the SEO of your e-Commerce. Make sure you are using the words with the highest traffic or search engine index within your online store
🔥 Free course here! 🔥 Conversion optimization for e-Commerce: Sell more without spending another peso on traffic
Remember that the key is to adapt these strategies to your business and to consumer characteristics during Buen Fin 2023. It is also important to continuously evaluate the performance of your strategies and make adjustments based on the results you obtain in order to improve them — or if something doesn't work, stop doing it.
