6 Secrets of Successful E-Commerce Companies
There are many strategies involved in e-commerce, some more popular than others. You’re probably familiar with content marketing, email campaigns, and the basics. With eCommerce there are many ways to think outside the box when it comes to strategy, so here is a list of six lesser-known strategies that will boost your conversion rates while also standing out
There are many strategies involved in e-commerce, some more popular than others. You’re probably familiar with content marketing, email campaigns, and the basics. With eCommerce there are many ways to think outside the box when it comes to strategy, so here is a list of six lesser-known strategies that will boost your conversion rates while also standing out.
E-COMMERCE TIPS FOR TOP-OF-THE-FUNNEL PROSPECTS
Prospect customers at the top of the sales funnel have an interest in your brand but aren’t ready to commit to purchasing yet. These prospects are in the researching phase of their purchasing patterns and their only form of interaction with you is visiting your website. Here are two secrets eCom companies use to draw in new customers.
EMPTY-CART REMINDER POP-UPS OFFERING DEALS
For customers browsing your website that haven’t added anything to their basket, this is a great way to grab their attention and highlight products and services you want them to see. Whether that be your best sellers, your end of season sale, or your newly added items, this is an effective way to capture and direct the prospect’s attention. As reported by Smart Bug Media, Pop-ups have a high clickthrough rate of about 2% or higher in most instances. Pop-ups are effective because they catch the consumer when they are engaged.
OFFER LOWER PRICES FOR MEMBERS
If you want to attract more than one time buyers and membership detail is a great way to turn prospects into returning customers. Companies such as Overtone, BeardBrand, and Fabletics have seen great success in offering a flat rate for one-time-purchases and a lower rate for monthly purchases. In research found by Quickbooks, it was reported that subscription models are 217% more profitable than single-purchasing models. This provides your company with a more predictable revenue while also attracting more customers.
E-COMMERCE TIPS FOR MIDDLE-OF-THE-FUNNEL PROSPECTS
Potential customers who have reached the middle of the funnel are ready to engage with your company. Most likely they have recently followed your company on social media, signed up for newsletters, and/or browsed your website. Here are two tips to help further engage these visitors.
TURN WISHLISTS INTO REALITIES
Wish lists are a great way to, one, get people to sign up with their contact information, and two, gain an understanding of what prospective customers are interested in. This is the transition from a prospect to a lead. Your visitors are leaning in and creating an itemized list as to why. One strategy e-commerce companies use to turn wish lists to conversions is to email sales promotions for wish-listed items. This email reminds customers of items they may have forgotten about and brings your company to the forefront of their minds again.
REMIND CUSTOMERS THEY LEFT SOMETHING IN THEIR CART
In 2019, Barilliance found that cart abandonment rates in the US were as high as 71.86%. There are strategies you can put into place to try to recover these abandoned carts. Many e-commerce companies implement email marketing to remind customers that they left items in their cart. More personalized forms of contacting customers grant even better results. Tone Messaging found that SMS or text message marketing sees a 42% response rate as opposed to email marketing 43.3% open rate. Even more personalized messages, like IgnitePost’s handwritten letters, which gave Pure Plates with a 68% response rate, are another excellent way to recover abandoned carts.
E-COMMERCE TIPS FOR BOTTOM-OF-THE-FUNNEL PROSPECTS
When your potential customers have reached the bottom of the funnel they are ready for the final push. They are interested in your products and services, so it is important to minimize obstacles for them. Here are key strategies to secure conversions.
USE CUSTOMER TESTIMONIALS IN EMAILS AND ON SOCIAL MEDIA
Customer testimonials are often seen on e-commerce websites, but they can be effective and powerful when used in email campaigns and on social media. These testimonials build trust as actual users are the ones reviewing the products. This is a great strategy to highlight your products and services without sounding like a salesperson. Strategic Factory found that “Using customer testimonials regularly can generate approximately 62% more revenue.” Not only are customer testimonials effective for sales conversion but having more customer reviews are also beneficial to your website's SEO.
THE FINAL PUSH WITH FREE SHIPPING
When customers are on the fence about purchasing, offering free shipping can be the final push consumers need. Red Door Interactive reported that adding free shipping increased orders by 90%. When you have customers so close to making a purchase, it is beneficial to reduce any other potential barriers like paying for shipping or having a difficult return process.
E-commerce strategies are often not a one-size-fits-all solution. Each corporation has to find what works for them. These 6 tips are easily adaptable to different company’s needs and will help you shepherd consumers down the sales funnel.
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