1. Set weekly KPIs
Your goal might be a higher conversion rate, increased revenue or expansion of your ancillary sales. But to get there it’s not only important to set monthly or yearly goals, but also to set up weekly KPIs so you can follow up on the progress and act fast. Bring out your calculator and start doing the maths: what growth do you need each week to reach your goal? And what actions will you take if you don’t reach them?
2. UX is your best friend
You’re probably aware that you are more likely to lose many customers if you don’t have a mobile-friendly website. But do you know how much sales you risk losing? Forrester Research recently released a report where they could see that great UX design can lift sales by up to 400% (!). Make sure that your website UX is visitor-friendly. The consumer needs to find what they are looking for, fast, be exposed to relevant products, and does not want to have to struggle to find what they are looking for.
3. Got physical stores? Think omnichannel
While everyone’s talking about consumers going to a store to check out interesting products, and then ordering them online from home, but it can be the other way around too. In a recent report from Kibo Software, 81% of consumers say that they look up the availability on the website, and then visit the store. And for many, ecommerce is a way of window shopping and getting inspiration before they visit your store. So be sure to have the availability information in place on your site.
4. Ancillary sales & upselling
As everyone working with ecommerce knows, driving traffic to your site is expensive. Increasing conversion rate is, of course, a strategy, but the most effective way is to help your customers find the right additional products. How are your product recommendations working? Make sure that they are appropriate and highly relevant for your customers, both online and in newsletters.
5. Ratings and reviews
People trust other people, not companies. For the last couple of years, influencer marketing has grown, as people are looking for another person’s opinion, not the retailer’s. Spiegel Research Center found that a product with five or more positive and believable reviews increased the purchase likelihood by 270%.
6. Automate your online merchandising
In the retail industry, there’s a lot of talk about “the perfect shelf”, and a lot of investment in physical layout, interior design and specialised employees who can help the customer find the right products. You have to invest the same effort for online, and provide both basic content such as product information, images, and measurements, and enhanced content such as videos and how-to guides, to maximise the customer experience. Don’t let your employees get stuck in repetitive, rule-based work concerning online merchandising, but automate it so you can focus on producing the best content.
1 minute video on Rulebase vs Automated merchandising
7. Reward your customers loyalty
Once again, driving traffic to your site is expensive, and you want to keep your loyal customers. Explore loyalty programs, but don’t get stuck in just rewarding purchases. Can you reward your customers for subscribing to the newsletter, tweeting about you or following you on Instagram? Be creative, and your most loyal customers will also be your ambassadors.