Date post: | 07-Aug-2015 |
Category: |
Marketing |
Upload: | the-merchant-lab |
View: | 179 times |
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10 Things Only Successful Online Retailers Are Doing Right Now
A blueprint for growth, based on strategies from today’s top online retailers
Presented by Muse Find and The Merchant Lab.
Sponsored by Lemonstand
Jennifer LiCEO of Muse Find
Co-Founder of Element 7
Chad NantaisCEO of The Merchant Lab
1998
+
Since...
Five FundamentalsMessage matching
Test-driven design
Low cognitive load
Social proof
Invest in the next sale
Conversion rate: the percentage of website visitors who buy something on your site
keep your promises
Message matching
(the promise)
your shopping adventurestarts here!
bounce rate
conversion rate
gratification
Message matching
ads / posts point to:
home page landing page
Test-driven (re)designmay the best page win!
“I sense thatthe Buy buttonshould be orange”
data doesn’t have “feelings”
why it matters
[from vwo.com]
vs.
web page death match
no more guesswork
continuously boost your conversion rate
lower risk of redesign fails
testing tools
Low cognitive loaddon’t make them think
why it matters
WRONG!
why it matters“what do I do next?”
● less to consider means faster purchase
● saving them time means increased brand capital
Low cognitive load
what do I have to do?
● single Call-to-Action (CTA)
● entire page supports CTA
● picture’s worth 1K words
Social proofno one likes being a guinea pig
why it matters
Over 70% of Americans say they look at product reviews before making a purchase.
[src: powerreviews.com]
● products with reviews had +12.5% conversion rate
● +83.85% for products with 20+ reviews
[src: experiment on figleaves.com]
Before making a purchase, shoppers referenced 12 sources of information
[src: Google and Inmar, 2013]
what do I have to do?
reviews likes user photos
Invest in the next salethe carrot on a stick
high openrates
low or no customeracquisitioncosts
why it matters
Acquiring a new customer costs 5x more than retaining an existing customer.
[src: Forbes]
how will it improve my sales?
● increased brand loyalty
● larger cart value, more often
● more word-of-mouth referrals
what do I have to do?
● pump them up after the sale
● deliver great content between sales
● ask for reviews and referrals
Congratulations!
You now know more than 98% of online retailers!
themerchantlab.com/webinar-thanks