SPLITIT LTD (Company) Objectives The Risk, Audit and Governance Committee (Committee) has been established by the board of directors (Board) of the Company pursuant to article 47 of the Company’s articles of association. The Committee’s primary objective is, in
6 Quick Tips For Better Mattress Sales in 2020
World Sleep Day is March 13 this year. A testament to the idea that a good night’s rest might be one of the most sought after experiences in the world—a common quest crossing cultural lines and time zones. With so many focused on better rest and the growing popularity of online mattress sales, there’s no better time to set yourself apart.
According to Frost & Sullivan, a global research and consulting firm, the global sleep economy is worth an estimated $432 billion with a compound annual growth rate of 6.3% to $586 billion by 2024. This report, commissioned by Casper Sleep Inc., a leading retailer of mattresses online is proof positive that there’s room for online mattress merchants to get a piece of the pie.
Last year CNBC reported that there were 175 mattress companies online and many of the mattresses or bed-in-a-box solutions were almost identical even if marketing approaches were vastly different.
As an ecommerce provider of quality mattresses, you have an unique opportunity to stand out. You can attract weary buyers who are tired of counting sheep and turn them into raving fans so you can start counting coins.
Here are six of the best ways to sell mattresses online right now.
6 of the Best Ways to Sell Mattresses Online Now
There are countless ways to position your online store for selling mattresses, but let’s look at a few key ways to get ahead of the curve, including:
- Getting to know your competition
- Offering a unique value proposition
- Matching your marketing to your ideal customer
- Creating a social presence to connect with customers
- Giving buying incentives to new and current customers
- Offering alternative payment methods for flexibility
1. Get to know your competition.
Yes, you should be focused on your brand, but ditch the blinders. Studying your competitors effectively can help your online mattress store generate new ideas and exploit your rival’s weaknesses.
Pick apart their online presence, go to their brick-and-mortar stores, sign up for their email lists. Do the work to find out what their customers like and where the company falls short. It could be as simple as reaching out to build a relationship with a key executive on LinkedIn and being transparent about wanting to grow your business.
2. Offer a unique value proposition.
What’s different about your company? Direct-to-consumer cookware brand Made In found a way to stand out by appealing to the “fun” of cooking and highlighting their manufacturing relationships with multi-generational, family-owned businesses.
Highlight what you offer that other online mattress sellers don’t. What materials do you use? From where are they sourced? What process is in place to ensure quality? What charities or causes do you support? People are comparing dozens of stores online; be the reason they stop scrolling.
3. Match your marketing to your ideal customers.
Picture your ideal customers. Create a composite avatar and keep it at the forefront of every marketing decision you make. If you’re focused on newlyweds, first-time home buyers, or recent college graduates, pay attention to what they care about and find out where they hang out so that you can craft your message.
4. Get social.
Get on social media and engage your followers daily. Remember your ideal customers? Recruit them to be brand ambassadors to help spread the word about your mattresses. Set up an area on your site for customer reviews and engage with the reviewers.
5. Give incentives.
Do you offer a risk-free trial of your product? Does your mattress come with a free bedding set specially designed to fit on your mattresses? Think about what you can offer to new and existing customers to make them excited about buying your mattresses. When I got married, the bakery we used for the wedding cake promised to make us a free cake on our first anniversary. That small detail that won us over.
6. Offer alternative payment methods.
Besides making sure that your site is visually appealing, easy to navigate, and features clear store policies, take time to ensure that the online payment experience is flawless.
Let’s face it. Buying mattresses online can cost a pretty penny. With prices ranging from a few hundred dollars to several thousand, it helps to do all you can to remove the buying barrier of sticker shock. By implementing a buy now, pay later solution like Splitit, you can increase average order value (AOV) and decrease cart abandonment.
If you’d like to learn more about how customers can buy the mattress they want with an interest-free, no-application installment solution that uses their existing Mastercard or Visa, please contact us today. In split seconds, we can show you a solution that can put you in a better position to sell more mattresses online today.