Single product: discover how to sell more using this model!

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Selling online can be quite challenging, especially if the results don’t match what was planned. This leaves anyone frustrated and wondering what they’re doing wrong. Teams from several companies have felt this way and, by rethinking their strategies, discovered how the single-product model can help them sell more.

We will explain what single-product means and show you how these companies implemented these online sales techniques to boost their sales and how you can do the same in your business.

1. The importance of having an online presence
In 2018, 1.79 billion people made purchases online and it is estimated that this number will reach 2.14 billion in 2021. These figures indicate that more and more people are using the internet to make their purchases. Therefore, not giving customers the possibility to buy your products online is the same as saying “go buy from the competition”.

The importance of being active on the internet has been colombia phone number database increasing over the years, and nowadays, not having an online presence is viewed with suspicion. Therefore, there are many reasons to have an online store: the “doors” of your store are always open, since you are not limited to opening hours or a specific location. In addition, maintaining an online store has lower costs than a physical store, since you do not have to worry about the costs of employees, facilities, inventory (depending on the type of business you have, you can opt for dropshipping), etc.

These are some of the many reasons why you should invest in e-commerce, but the most important of all is: you must be where your customers are! If you don't do this, sooner or later your business will end, after all, without customers there are no sales, right?

Nowadays, having an online business is not an option, it is a must have if you want to sell more and see your business continue to grow.

1.1. Why do people buy online?
Studies show that people choose to buy online because of:

Convenience of the service, it is possible to purchase from anywhere and on any device, avoiding long queues for payment;
Availability : the customer can avoid frustration when discovering that the desired product is not available, which often happens in physical stores.
Reduced Prices : online there are platforms that offer very competitive prices, such as eBay and Amazon, which attract the attention of consumers who are able to purchase the product at a lower price.
Year after year, the number of visits to e-commerce sites increases by 13%*. Considering that people use the internet as their main resource for searching for information, this number is likely to increase in the coming years. It is essential to be active in this environment, after all, if you don’t “talk” to your audience, they won’t know you exist.

*source: Statista 2019

2- Is offering several products really advantageous?
You already know that having an online store is essential, but what we haven't told you yet is that having an online presence isn't enough. It's essential to know how to maintain a sustainable business through a website with high conversion rates.

The truth is that setting up an online store won't be your biggest challenge, but rather maintaining a profitable store with a shopping cart . It may seem that the cart helps you sell more, since the total value of the sale increases, as a result of the possibility for your customer to buy more products in the same order. But, contrary to this, a Statista survey between 2011 and 2015 shows a drop from 6.37 to 4.08 items per order in sales made during Black Friday.

This leads us to think that…

If before having several alternatives was good, something that allowed us to have the freedom to choose “THE” best option, today people feel relieved when they don’t have to decide. A study by Scientific American reveals that when we are “forced” to choose an alternative, we have to give up many other potentially good ones as well. This leads us to a deadlock, which makes it difficult to choose, and often makes it easier to give up on the purchase.

As an e-commerce owner, you must have asked yourself many times why your customer abandons their purchase, right?

Have you ever thought that people might abandon a purchase simply because of too many options offered or a bad experience on the website?

Your potential customer may be feeling indecisive when faced with so many options to choose from. Or they may be having difficulty completing the payment, either because your checkout layout does not clearly show how many steps are left to complete the payment or because several pages appear during the checkout, making the process time-consuming and tiring.

Ultimately, there are many reasons that can hinder the user experience and lead them to abandon the purchase. So what can you do to improve the customer experience and sell more?

2.1- How to offer a good user experience
Before anything else, your biggest concern should be to offer the best possible experience to your potential customer. A happy customer is a satisfied customer, which increases your chances of selling more.

The best way to understand this is to put yourself in the shoes of the customer. Imagine the following situation: it's your wedding anniversary and you want to buy a gift for your wife. Then you remember that she loves jewelry and go to your favorite website. When you open the home page, you come across several products and that's when the problem arises: which one should you choose? To you, they all look beautiful, but you wonder which one your wife would like best. As you browse the page, you put the items you like most in your shopping cart and when it's time to decide which one to buy, you give up on the purchase because you're too indecisive.

sales page

Now imagine the opposite. When you search for jewelry, you land on a page that presents you with specific gifts, depending on the wedding anniversary in question. This layout is visibly more pleasant and makes your life easier, making the decision-making process much more intuitive, since the page itself suggests what would be interesting to give.

When you choose the gift you want, you will be taken to a single product page that has the item description, testimonials and price. Once you click on the “BUY” button, you will be taken directly to the checkout where you will make the payment.

Now think about it: what percentage of your sales have more than one product in the same order?

If this amount is really small, is there a need for a shopping cart? If most customers tend to buy one, or at most two, products at a time, it doesn't make sense to invest in a shopping cart. It is preferable to create a single-product model, which makes the process simpler and faster and guarantees a higher conversion rate.

3. The single-product model as a way to acquire new customers
Have you noticed that more and more companies are opting for the single-product page model? This has allowed them to create campaigns focused on a single product, directing their communication efforts at those who are really interested in buying.

So, why not think about an alternative strategy that complements your online store and helps you sell more?

I know you might be thinking that this strategy will cause you to lose sales, since you only offer one product and, therefore, your niche is much smaller. Theoretically, this is true, but think about it: by selling only one product, it becomes easier to segment your customer base and, by analyzing their profiles, you know who would be interested in buying the product in question. By doing this, you not only reduce your acquisition costs, but you also increase your conversion rate, since anyone who clicks on your ad will certainly be interested in buying your product.

The single-product sales model serves as a complement to your online store. This way, you can focus your efforts on a single product, giving it the attention it deserves. Those who visit your sales page are interested in learning more about your product. This is an excellent opportunity to provide more details about the item, as this gives the customer greater confidence in what they are purchasing.

3.1 – It’s proven to work!
Hundreds of websites use the single-product sales model and have achieved excellent results! Below we list three well-known examples that use this sales model and that present us with convincing copy combined with a simple navigation layout, which improves the user experience. One such example is Casper, the famous mattress brand that became a Silicon Valley unicorn, valued at $555 million in less than 2 years selling a single mattress!

3.1.1- Casper
Casper revolutionized the mattress market with a simple idea: mattresses in boxes. When Casper entered the mattress market, it was already very saturated, so the company designed a strategy that would allow it to differentiate itself and make life easier for its customers. After all, this should be the main concern of all companies, right?

We know perfectly well that people nowadays have very little time available and, therefore, the fewer choices they have to make, the happier they will be. With this in mind, Casper offers only 6 types of beds, ranging in size from twin to king. What makes this idea innovative is that people don’t have to go to a physical store to buy the mattress; they can do so through the website and it is delivered in small boxes directly to the customer. The buyer has 100 days to try it out and return it if they don’t like it.

The website layout is very simple and practical, using high-quality images, which makes the user want to stay on the page.