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Why should you use Social Media for Online Businesses?

October 3, 2015 By admin

In earlier times, online businesses would use traditional forms of advertising such as television and radio in order to create their brand awareness. However, with the advent of social media platforms, these same online businesses are now beginning to share their stories and demonstrate their expertise on various social media platforms, at very low costs.

Social-Media-For-Business

As compared to social mediums, direct mails and other similar forms of marketing do not lure online businesses anymore. However, social mediums too should be used wisely and effectively to accrue positive outcomes in businesses.

Let’s run through a couple of fundamental reasons to help you understand the need of incorporating social mediums in marketing plans of online businesses.

1. Helps in increasing brand awareness

According to Adroit Digital, 75 per cent of online Americans found product information on social media quite influencing in their shopping behaviors. In another similar research done by eMarketer shows 33 per cent of consumers citing social network as a key way to discover new brands, products and services. Besides having so many advantages for using social media, the most conspicuous advantage would be allowing online businesses to introduce their products to people over the internet. Social mediums are perfect channels for online businesses to create worldwide presence to customers who stay online.

2. Beneficial when social mediums integrate with ecommerce business website

Ecommerce websites can make an enormous impact on their customers by integrating their websites with popular social media platforms such as Facebook, Twitter and LinkedIn. The Magento developers would strive hard to integrate the entire social media bundle with the ecommerce website of a particular online business. Bulk integration helps in effectively generating leads and converting them to sales for the online shop. Such integrations help online businesses to remain socially active and invariably present in lives of their customers.

3. Paid advertising

Only gigantic companies have the budgets to take their social media marketing plan to a different level by advertising on social mediums. However, even if you aren’t  big multinational online business, and still have the money to advertise then, by all means, go ahead and advertise your business on Facebook Ads, LinkedIn Ads, or promoted tweets that is linked back to a product page. Paid advertising is a useful tool in improving website traffic, provided you target the ads correctly.

4. Have your online store presence even on social media platforms

It is a brilliant idea to increase your online reach by having a shopping cart directly, let’s say, on your Facebook Page. This will help your customers to shop immediately or at least add items to the cart to shop later, without leaving Facebook. Even WordPress blog has the facility of promoting products similarly. A good part of it is that these tools are mobile-responsive and adaptable to almost all devices, which can help customers have seamless shopping experience.

In order to fetch impeccable shopping experiences to your customers (new and potential) you must depend on social media to a greater extent, and it will help your online business to reach a broader spectrum of consumers.

Increase loyalty

6 Reason’s Why Customer Loyalty Programs Will Help Your Online Store

August 1, 2015 By admin

As per a survey you have to put in 10 times more effort to obtain a new customer than to sell to an existing one. Indeed, existing customers spend 67% more on your products than a new visitor. Therefore following a loyalty program is always a sales booster for your store.

Customer loyalty

A loyalty program harnesses your sales by awarding customers who buy from your store regularly. 38% of the market believes that their biggest obstacle for 2015 is to increase customer retention and acquisition (sources- Teradata). This strategy is certainly targeted to get more sales from existing customers and builds a trustworthy online store. Moreover, it acts as a magnet that attracts new customers to your store.

According to a survey done by Neilsen, “the probability for 84% of the global consumer visit an online store turns positive when they see a loyalty program.”

To get an in depth knowledge of how customer loyalty programs help your online store, have a look into these six reasons listed below.

Loyalty Programs are Pocket Friendly
A generic notion is that whatever produces more profit is most of the time too expensive. The good news is that it is not applicable in the case of loyalty program.

Pursuing a new customer can be 7 times more expensive than obtaining an existing one. Therefore, the resources that are used in the loyalty program will probably be less expensive than finding a new one. Not to miss out, depending on the scope of your reward program, the tiny expenses you do is surpassed by the considerable generated business result.

Enhances Your Reputation
As an online firm your every move builds and diminishes your reputation. When you offer your clients something to stick around after purchase, the customer feels that they are taken care off and valued.

Increase loyalty

Therefore, when you start a loyalty program for your customer you not only retain the old ones but also entice the new ones to join this league. This will also augment the positive word of mouth in the market for your online store or brand.

Using Attractive Awards for more Eyeballs
The loyalty program is the most favored by marketers and retailers because they are efficient enough to improve customer retention for a particular operation. Now, when it comes to customers part they admire it for added incentives while making a purchase. As the points increases, it turns out to be beneficial for both customers and retailer. Thus, allowing the retailer to have an access of larger portion of the customers’ wallets.

Offers Market Research
When you regulate a loyalty program, you conduct a research to retrieve information regarding the customers behavior in context of the loyalty program. Through this program that you use that sort of incentive which stimulates the desire of your customers and the rewards.

This enables you to have a clear idea, regarding which specific reward will be most admired. Moreover, with the data you can attach the most pursued reward to a particular product and increase your sales profits.

Sizable loyalty landscape
The volume of loyalty program and its members in Canada is itself 120 million and in US it amounts to 2 billion members. With the amount of marketplace penetration, it is estimated that the probability of every visitor who visits your site is a member of at least one loyalty program. This way millions of people are collecting loyalty rewards and most of them are taking it for more than one. Therefore, by providing an array of programs to choose from, it’s possible that you’ll strike at least one of the programs that they’re participating in.

Big firms give big loyalty
The world of loyalty program has several other programs from where customers can choose over, while customer picks one, he overturns others. Therefore, it becomes necessary that the loyalty program should be crafted after learning about the customers behavior. Read more about customers behavior and psychology here. However, when you offer your visitors with points from the world’s biggest program you can easily leverage the loyalty build by others.

B2B Ecommerce

How Magento is helping B2B E-Commerce Leverage Profit Margins

July 30, 2015 By admin

Business to Consumer (B2C) or Business to Business (B2B), you may be working with any one of the business approach, but e-Commerce remains the principal component of your marketing business.

B2B Ecommerce

One can’t oversee the truth that Magento e-Commerce solution has brought transformative changes in the manner B2C business has functioned and performed over the years. Today Magento is a big name in B2B due its segmentation options, unique catalogs and flexibility.

According to recent reports “In United States alone B2B E-Commerce was over two times the size of B2C.” As per the reports B2B was a whopping $780 billion and B2C at $325 billion, that’s just less than half.

You must be aware of how Magento can do wonders for your online business? The basic necessities of a B2B portal are same as that of B2C, such as:-

  • Invoice and order history
  • Information on order status and shipment
  • Live assistance in the form of customer care
  • Wishlist, favorite products and recommendations
  • Discounts and offers
  • Multiple images of the product, detailed specs, download able data sheets and manual and video tutorials
  • Invoicing and incomplete shipments
  • Easy and fast reordering feature

It is understandable that Magento supports all these areas in an online store. Now, let’s see other factors that Magento facilitates to build a unique B2B online store. This will surly enable you to leverage sizable profit margins. Here’s how…

Proper segmentation and absolute personalization
Proper segmentation makes things appropriate, thus making it easy for a visitor to find his/her desired item within seconds, stimulating a tiny purchase funnel. With the source of B2B e-Commerce store, suitable products are displayed in best of manner, encouraging user friendly experience.

The Magento Enterprise platform offers different tools that make it simple to present special product suggestions and content based on segmentation criteria.

Distinct Catalogs based on Consumer Groups
Magento has some kind of a traditional portal functionality. It can give access to some class of the sites based on a particular group.

This is how – Depending entirely on the affiliation upon login of the customers group, customer Q will have access to some products, however, Customer R may have access to an absolutely different set of products. These different catalogs enhance the consumer value and allow effective and intellectual guidance to users to purchase with distinctive interactions.

Smooth Integration with Third Party Apps and System
We all know Magento’s integrating capability with various softwares. This serves as the perfect way for B2B store to integrate with any third party apps or systems easily.

The APIs can be used by developers to connect different dots between back office apps and online store. The ERP environment can also be used for Magento integration and assist in easily dealing with complex Magento workflows which comprises of long string of properties for an approval system.

Accelerate Sales on your Magento Store

5 Things you should do right now to Accelerate Sales on your Magento Store

July 21, 2015 By admin

To pin down the objective of increasing sales, a retailer uses every possible marketing strategy. To achieve this objective you have to first pass the tough competition, understand critical technology that is getting advanced every minute and appease extremely volatile customers with a moody behaviour.

Accelerate Sales on your Magento Store

As a matter of fact, we can’t halt the pace of the competition and the augmentation of cutting edge technology. So, what do we do?

The only panacea to this situation would be to use best platform like Magento that help amplify user experience. Moreover, it’s just not about designing and creating your e-commerce store, featuring, marketing and optimizing are also important elements to drive unending traffic.

Before going any further, answer these questions from customer point of view.
• Was it easy to find the online store?
• Is the store simple and easy to understand?
• Is it tough to get through the checkout?
• Is the website content compelling enough?
• Will the service convince me to draw money out of my pocket?

Let’s discuss these fundamental questions to retrieve our answers and you’ll probably have the answers to accelerate sales as well.

1. Is it easy to find the store? Is your website discoverable?
A good SEO strategy gives a boost to website ranking. Analyze some of the best SEO (search engine optimization) practices and deploy them on your website. There are numerous Magento Extensions in the market that assure to make your website more search engine friendly.

To surcharge the SEO initiatives for your website, install the latest version of Magento. Avoid long tail links, write good descriptions and use lot of images in the website (category and product page). Add keyword rich products, pages and product tours/guides. Make your e-store directly available by creating a “robots.txt”

2. Was the store simple and easy to understand?
Make sure that your online store is simple. Messy and disorganized website doesn’t let the visitors explore through the pages and entice them to purchase any product. Therefore, make sure that your website is clean and organized in a systematic manner. Along with that, keep the design of the page simple and remember to keep the items limited by exhibiting it on one page or on few pages.

3. Is it tough to get through the Checkout?
Online sales are greatly influenced by the Checkout and revisits. A simple checkout with limited steps is always in complete harmony with your customers. Make it a single page effort with minimum areas to fill, ask them to fill only the necessary fields. Avoid compulsory registrations and make it optional.

A website that uses tricky technologies (AJAX and Flash) will certainly make things more complicated. As for some customers who are using an old browser or a particular device which doesn’t support this technology will create complications. So keep it short and simple.

4. Is the website content compelling enough?
The purchasing decision of the customer counts on various factors. All types of content (text, images, videos, etc.) should build instant interest for visitors. Write interesting and simple product description. Make it more convincing by adding an image to the text.

To write compelling text, focus on how customers will take it? Stress more on benefits than on the feature of a product. Moreover, use action verbs and active sentences to engage customers.

5. Will the service convince me to draw money out of my pocket?
Driving traffic isn’t enough. It’s also about converting visitors into customers, convincing them to draw money out of their pockets. Here is what else can be done to make things happen:
• Use views and reviews to bend your visitors to turn into customers
• Use security badges to build trust in your product and services
• Offer free shipping
• Optimize your website with proper location of banners and buttons that grabs eyeballs
• Use the colour therapy

Market scholars strongly believe that the future of online shopping is very bright. So it makes sense to be part to this wonderful future and make maximum out of your Magento website’s potential.