What are the top conversion tactics for retailers?
This can be measured better by determining out of how many people you are reaching online (through your website, social channels, email etc.) are actually deciding to come to your site or store and make a purchase. This platform has gotten 30% more in store sales generated from online conversion via geolocation and intelligent offers. Here is an original post answered to What are the best converting online retailers doing?
About 1.5–3.5% is normal online, but really good retailers can convert at 8–12% online, with in-store traffic converting at 15%–30%. Here is an original post explaining how to achieve this.
The best converting online retailers are actually the omnichannel retailers who can offer convenience, speed, and accessibility. Before I dive into this though, the part of online conversion, and getting the highest online conversion rates comes after understanding the essentials of “customer service design” and how to automate this. Good online retailers make themselves great by understanding their customers, delivering personalized messaging, and being wherever the customers needs them to be.
Retail has evolved so much now, with far more competition than ever before. To combat this, even online-only retailers (Amazon, Birchbox, Google etc.) are opening up a physical presence. This combined with evolving and ever-complex supply chains, have forced a serious shift in how efficiently things are handled. All this complicated back-end stuff makes the whole customer experience far better when they go to buy something from you, online or offline.
- They have intelligent systems- Intelligent systems like this one not only make the product easier to use, but it makes the job easier. Examples of this are using the customers prior purchase behavior to send automated emails 2 weeks later of a sale on another matching item. Or, detecting where this customer is in relation to their closest store, with a real-time offer for % off on a pair of shoes they put in their cart but didnt purchase earlier in the week. Making these things seamlessly happen, without any intervention necessary from a person, is actually what makes eCommerce, and commerce in general, more personal. Its how this retailer is crushing it with automation in their sales. This sums up a lot of other points one could make to answer this question, but in reality this is what is comes down to. Oftentimes this technology is expensive and only reserved for very large retailers, but you can get all of it through this platform, and scale as you go starting at $29. So, while the big boys have more money, it doesnt mean you cant have more power. This must be done wisely though. Tying in email automation with cart abandonment, and an intelligent CRM which can craft messages based on user history. Additionally, you need to be able to recommend the right products while they are on the site, using intelligent recommendations, again based on user personalization. This can get complex, but email a firstname.lastname@example.org for any answers to implementation challenges.
- They operate efficiently- Efficient systems make things easy (view the example). When a purchase is made, in-store or online, it is handled with precision. Order comes through, shipping/billing details securely delivered, item is picked, shipping label is printed, box is applied, item is shipped. In-store pickup process looks like this. Person places order online selecting in-store pickup option, store is notified via text/email, item is picked and brought to “pickup window”, person comes in, code is scanned, package is handed off, item inventory is deleted and replaced automatically for this store in vendor management. For in store purchase, this would simply be the customer purchasing at POS, inventory is deducted. What happens after each of these points is crucial. No customer ever wants to get stuck with shit they dont want. So, you have to make the return process super simple, like a special chat-bot that handles everything for the customer, from shipping label, to setting order pickup. This reinforces in customers mind that you are safe to purchase from, and provides friction less transactions.
- They Are Unique- Each retailer who operates online, or offline, has some sort of unique feature about them. Either their product set is unique, their locations are particularly unique, they have truly caring staff, or innovation in the heart of the company, or they have a great experience in one way or another. Whatever it is, grasp onto and hold this unique advantage, while perfecting it over time. The technology can only improve from the base it is sitting on. This uniqueness may be that you implement better technology and offer customers more for their money that way. Figure this out, maximize the awareness, and go full tilt.
There are a ton of other really nitty gritty details I have left out, because I feel it would require a whole book to explain, but this is really what it comes down to. Making sure these things are in place, gives you a leg up, and ensures you have the right system in place to make it all happen. For more information on implementing and looking through the numbers of efficient systems check out the Orkiv Blog