During the 2010 holiday shopping season, NetSuite merchants increased their online sales by an average of 24%, twice the national average! More impressively, they managed to do this while lowering their costs. Here is how they did it.
NetSuite(opens in new tab) merchants increased their online sales by running targeted marketing campaigns. They gave shoppers promotions related to their geography and previous purchase history. They closed abandoned shopping carts(opens in new tab) by emailing the shoppers with reminders about their carts and limited time discounts for those items. They increased order size by running promotions with free shipping or free gift offers when it reached a minimum order value. And they promoted the optimal products using dynamic merchandising tools.
They also increased sales by expanding their markets, increasing loyalty and optimizing inventory. They successfully sold to foreign customers by showing their website in the shopper’s language and currency, collecting the appropriate taxes, and printing out customs documentation, all within NetSuite. They increased loyalty by running cross-channel loyalty point programs with incentives for repeat purchases. And they carried the right products, in the right amounts, by using NetSuite’s automated procurement system to keep the optimal inventory amounts.
NetSuite customers reduced their costs by spending less on IT and customer support(opens in new tab). They avoided buying expensive databases and servers. They eliminated the need for IT staff. And they avoided having to pay for software integrations or website changes.
NetSuite customers also improved productivity by offering self-service options, automating the order management process and managing their warehouse more efficiently. They actually improved their customer service while lowering their costs by offering 24/7 customer self-service. They automated their order approval process and minimized the amount of overhead required. And NetSuite made their warehouse operations more efficient with integrated pick, pack and ship steps; and an automated procurement process.