In this article, we will show you 7 ways to optimize your Magento stock notification marketing to boost your sales!
There is nothing more frustrating for a customer than to find that a product they want to purchase is out of stock. More than often, it leads them to search for the product in another online store, costing you sales.
Providing stock notification as part of your marketing plan can keep the customer engaged and might even cause them to delay their purchase in hopes it will be restocked in your store soon.
But just offering Magento stock notification doesn’t mean you are maximizing your sales potential or creating a better shopping experience.
Thus, today we will show you 7 ways to make the most of your Magento stock notification marketing to increase sales and deliver an amazing shopping experience.
Let’s get started!
What Is Magento Stock Notification?
Magento Stock Notification is an email that is sent to customers who have subscribed to receive stock updates on an out-of-stock product. When the product is restocked, the customer is notified about its availability so that they can purchase it before it goes out of stock again.
Many customers can miss out on the purchase if they aren’t notified, and it eventually leads to some lost revenue.
The typical process flow of a Magento stock notification includes 4 steps:
- A shopper lands on the product page of an out-of-stock product.
- They sign up to receive a back-in-stock notification when the product is restocked.
- Store owner restocks the product.
- Store owner notifies subscribers that the product is restocked and provides them with a quick way back into the purchase funnel.
The sole purpose of the Magento stock notification is to allow your customers to show their interest in an out-of-stock product and join a waiting list.
But there are many more benefits of stock notification:
- Recovering lost sales: When a shopper lands on the product page of an out-of-stock product, it’s no doubt that you immediately lose a potential sale. Back-in-stock alert gives you a chance to recover that sale by notifying the shopper when the product is restocked and providing them with a quick route to purchase.
- Sustaining customer interest: After visiting an out-of-stock product page, shoppers usually leave your website and search for the product in another store. Magento stock notification helps to sustain customers’ interest by creating an expectation that the product they want will be back in stock and allowing them to take action towards obtaining it.
- Generating social proof: Not only does the stock alert option highlight that a product is so high-demand, but it also acts as social proof suggesting that many customers want the product, so you must create a waiting list.
- Creating excitement: Studies show that the brain releases more dopamine in anticipation than in receiving. It means that subscribing to stock alerts and waiting for the product to be back in stock might be more exciting than going and buying the product from other stores.
- Enhancing the customer experience: By providing customers with a convenient way to buy out-of-stock products, you show them that you care about making the best shopping experience possible.
- Providing customer insights: Magento stock notification is a great way to measure customers’ demand. You can figure out which products are worth restocking and which aren’t from the number of stock alert subscribers.
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7 Ways To Optimize Your Magento Stock Notification Marketing
In this section, we will show you 7 ways to optimize your Magento stock notification marketing.
Those are:
Grow your subscriber list by adding an email opt-in
Most Magento stock notification forms only collect the customer’s email address to notify them when the product is back in stock.
You should take advantage of having their attention and ask them to subscribe to your email list at the same time. Store owners who employ this tactic tend to see a significant list growth which eventually increases revenue.
Send Magento stock notification via your domain
It is crucial to establish your brand. And one of the best ways to achieve this is to make sure the emails you send come from your domain.
Check if the back-in-stock notification tool that you use sends emails from its own domain or not. Because if it does, it may confuse the customer.
Always send Magento stock notifications from your domain.
Enable signups for anonymous users
Some stores restrict the Magento stock notification feature only to logged-in users.
Many visitors will simply leave your website if forced to log in to access a feature.
By giving guests or not logged-in users the option to sign up for the back-in-stock notifications, you will maximize your opportunity to increase sales and engagement.
Enable targeted ad campaigns based on Magento stock notification subscription activity
If you are like most eCommerce retailers, Facebook and Instagram ads play a big part in your marketing plan.
By integrating your back-in-stock tool with Facebook Pixel, you can run highly relevant ads targeting your stock subscribers. If your emails have a 15% click-through rate, this is a very effective way to reach the remaining 85%.
Only allow signup on specific products
The last thing store owners want to do is disappoint the customers.
To avoid that, you should only show the Magento stock notification feature on products that you are going to restock.
For discontinued products or products you will not restock, deactivate the feature to not set the wrong expectations for your customers.
You have the option to capture stock alert subscriptions at both a product level and at a variant level. Be sure to choose the right one for each scenario.
Manage minimum quantity thresholds
Make sure that small increases in inventory, like when a single return is processed, don’t trigger a large batch of alerts.
By setting a minimum inventory level threshold, you will prevent alerts from being sent when only small amounts of inventory come in. Some stores may find it helpful to set thresholds at a product level, not just at a store level.
Use advanced logic to send Magento stock notification
Receiving a Magento stock notification only to find out the product is sold out again can be very frustrating!
Instead of sending a stock alert to everyone who subscribed to receive notifications, determine the number of eligible receivers based on the quantity restocked.
This can help you to ensure that the product will still be in stock when the customer responds to the notification. It also helps ensure that you have a list of customers you can alert later when you have additional inventory.
The Best Solution For Magento Stock Notification Marketing
The default Magento supports the stock notification function, but it has many limitations.
So to further optimize your Magento Stock Notification marketing, hereby, we recommend the BSS Magento 2 Out of Stock Notification extension.
This module is an amazing tool to enable stock notification marketing in your store.
It allows you to enable the stock alerts for any customer groups, even guests or not-logged-in customers.
The module also allows you to display the “Notify Me” button on product page, category page and search result page.
And it helps you manage customer subscriptions effectively via a grid.
Another amazing feature is the Product Subscription Tab ( available to logged-in customers only). On the Customer Account Page, your customers can check information about products they have subscribed to and choose to stop getting notifications.
INSTALL NOW: Magento Stock Notification by BSS!
Full list of features:
- Enable stock alert email for guest and not-logged-in customers
- Automatically send stock notifications
- Manage stock subscription in the Customer Account page
- Support back-in-stock alert option on the product page, category page, and search result page
- Allow back-in-stock notification for children product of the configurable product, grouped product and bundle product
Conclusion
Even though the majority of eCommerce stores have discovered stock marketing, you can still stay a step ahead of your competitors with these advanced tactics.
Keeping up with customers’ demand for your products will be a challenge, but making the most of your Magento stock notification marketing can increase your sales and make you stand out.
We hope this blog is helpful and good luck to you!
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