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If you’re an online retailer, you’re always looking for ways to improve your online commerce to increase conversions and expand your business. Let’s take a look at 5 ways to increase conversions in your online store today.
1. Discounts and Promotions
Discounts and promotions don’t necessarily need to be something you do during the holiday season. They can be a really useful tool throughout the year to help build your customer base, loyalty and of course increase conversions.
Let’s talk about discounts first of all. Discounts can play a crucial role in your marketing campaigns throughout the year and shouldn’t just be reserved for Black Friday or January sales. There are also many forms of discounts you can use depending on the purpose.
A good example of this is offering a small discount to customers on their next shop when they sign up to receive your newsletter. While this may not seem like a great return on investment initially, getting them to sign up can help you nurture the relationship you have with those customers.
Once you have their information you can then add them to sequenced email marketing campaigns to keep them engaged, but make sure to only add them to relevant campaigns. Whenever you email customers, you’ll want to ensure that whatever content you’re sending is relevant to them.
For example, if you sell clothing you may want to segment your campaign by gender and send an email surrounding the ‘best picks for autumn’ for both men and women. There are lots of other ways you can segment your data to create highly targeted and relevant email marketing campaigns for your audience.
For promotions, this can be anything from 3 for 2 on selected items to free delivery over a certain amount. Whichever you feel will be the most appropriate for your business, there are a few strategies you can implement with these promotions to support conversion.
Firstly, adding these into your packaging can help encourage repeat purchases from your already existing customers but you can also use these promotions across your social media, prospective email marketing and paid advertising. Offering a free gift is also a great way to encourage your customers to increase their basket value and checkout.
2. Delivery Options
Another useful tool to help push customers over the line at checkout is to look at your delivery options. Providing your customers with as many good options as possible is a great tool for helping them get over the line.
From offering free delivery (which is one of the most powerful options) to offering the next day with a small fee, to providing click and collect options. The more options you can provide the customer with the better.
Offers on delivery can be a very powerful tool for your online business and any promotion you have is an opportunity to get the customer to do what you want them to do as cheaply as possible. But remember you want this to make a minimal impact on your margins so use it wisely.
If you already offer free postage and packaging on all your products, don’t worry you can always add in a ‘free upgrade to next day delivery as the big promotion. Or a more permanent free postage and packaging offer can also be very powerful. A good example of this is if your average order value is £50, then give anyone who spends more than that free postage and packaging.
3. Payment Gateways
Another tool in your arsenal if your payment gateways. If you think they’re simply there to just take payments then you’d be wrong. Providing your customers with a variety of payment options at checkout can also help to increase your conversion.
From traditional credit or debit cards to financing options and buy now pay later options. Most consumers are on the lookout for retailers that offer flexibility with payments, particularly the younger generation who have a distrust when it comes to credit cards.
A recent article by Marketing Week has suggested that there is now a disconnect between credit card brands and the younger generation. As we become more of a cashless society, buy now pay later options to give consumers the instant gratification of purchasing something they desire and speaks to the distrust we have in credit cards.
The flexible payment option is here to stay and has been steadily growing in popularity for a number of years now. Whilst it’s always good to have a variety of payment options, we suggest having one or two traditional methods of payment, i.e. credit and debit cards, as well as a well-known payment gateway such as PayPal and a buy now pay later option.
4. Remarketing
A few tools that you may not have taken advantage of just yet are paid advertising for your online business. But we’re not just talking about running ads on a broad search term, we’re talking about how to create highly targeted ads so your money and efforts aren’t wasted.
One of the better tools out there is remarketing using the Facebook Pixel. Even if you don’t plan on running any ads anytime soon, make sure you have the Facebook Pixel installed on your online shop as it can help build your audience for when you do begin running ads.
Remarketing shows your customers the products they were browsing on your site on their social media feeds including Facebook and Instagram. You need between 7-10 touchpoints in a customer’s journey before they consider buying the product, therefore you need to be getting your product in front of their eyes as many times as possible. Remarketing can help push your customer along their journey and remind them about the products they were browsing earlier.
5. Google Shopping
Google, who recently announced that their Google Shopping product will be free to online retailers from October 2020, stated “Just as we don’t charge sites to be part of the Google Search index, listings for participating retailers are eligible to appear in these results at no cost to them. Paid listings will continue to appear in ad slots and will operate in the same way as Shopping ads do today.”
This means that Google Shopping will now be free for retailers across Europe, Asia, Latin America and the US. This is great news as all businesses can now take advantage of the power that Google Shopping has. Being able to put your products directly on Google Shopping results, you’ll be able to generate an increase in traffic as well as an increase in conversions and revenue if done well.
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