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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.

Seducing Website Visitors to Buy

June 30, 2015 By admin

How can you entice your e-commerce visitors to buy from your store? Simple, a great user experience works as a tool of growth hacking for the inflow of conversion rates.

Now, if you’re lacking somewhere in your online business, you are not offering what your users want. Make things work out with these 20 steps to enhance the UX of your Magento store.

Here are some eye popping statistics about Users Experience.

E-Commerce-UX-Tips

Today we have 3 billion internet users globally and the number is moving upwards with the speed of a fired bullet. The hopeful forecast predicts shimmering e-commerce sky, the e-mail retailers will rise by 9% in 2016.

Apparently, it shows that online buyers are a massive opportunity and better user experience will harness business sales by 74%. Online user experience which is build with factors like convenient, intuitive and enjoyable experience will streamline the inflow of ROI.

Proper strategies to win conversions will take your business to greater heights and break all the records, up till now. Guide your visitors in the best ways, as the infographic says and boost your conversion rates.

The infographic showcases several eye popping studies and future startling predictions for the e-commerce landscape, which depicts that to provide a good user experience can turn a handsome deal for every online retailer.

Multiple Device Shoppers

Transforming E-commerce Landscape by Leveraging Multiple Device Shoppers

June 26, 2015 By admin

Every consumer has his/her preferences, they have a peculiar perception about how, when and why they browse from a device and make a purchase online. These variations are necessary to understand: how consumers use multiple devices for both offline and online shopping. Moreover, it also reveals the key insights to increase conversions.

“Today, more than 40% of online adults are multi-device users.” This verdict came after a multi-device study was conducted by Facebook along with GfK. The study revealed people’s behavior when it comes to moving across various devices on daily basis.

Multiple Device Shoppers

The way your visitors/consumers search for their desired item has widely changed. This is due to the infiltration of various kinds of devices which are streamlining the process of search. When and how people use their devices are shaping shopping behaviors like never before.

How has the consumer behavior changed with the use of multiple device? This is a major question for the retailers. Let’s now analyze how!

1. Switching to another device is normal
There’s a rising trend of keeping multiple devices and most of the times consumers are using more than one device type while considering the item they want to buy. The typical analytical data can only work after they buy a product. As the proximity of comfort, should always be high for the consumers to make the maximum ROI. With regards on switching from one device to another while purchasing an item from the online stores, 81% reported using more than one device.

2. Device use according to the convenience
Giving preference to what is convenient, consumers choose device that is most appropriate to operate to handle a website or apps. The study tells that for simple navigation, common device are used at ordinary places like work, in-store, home and on-the-go. Desktops and laptops are commonly used at home and workplaces for more detailed research. However, smartphones dominate workplaces, in-store, and can be used on the on-the-go.

3. Activities on a single device becomes crucial
Every action of a person on a device reveal what they are doing in context. Here is a brief overview on the preferences given to the work(according to the device) done by majority.
• Smartphones are used for light browsing, checking email, getting directions of the stores, light purchasing, to operate social media sites and a workplace alternative to the desktop/laptop.
• Tablets do a little deeper browsing as compared to the Smartphones. This is due to the larger screen design. The 1-4 item/ cart of online purchases is done through desktop and smartphones.
• Desktop is another device which is used at home and at work for in-depth browsing and purchase.

4. People research through showrooms and purchase it online
A number of people do both online and offline shopping. Most of them visit showrooms to seek information, so that they can purchase it later. They do this to get accustomed to the feel of the item before they purchase it online. Consumers are motivated to purchase online rather than buying it from the physical store as these online stores give best offers at best prices.

5. Channeling offline and online store
Multiple devices enhances the UX by bridging the gap between online store and in-store. With the use of multiple devices retailers can make benefits. Omni-channel marketing gets power to work as a link between online and offline stores, thereby increasing the conversion rate.

The frequent use of multiple devices will actually transform the future of online shopping, breaking all the records till now.

Online Shopping

The Future of Online Shopping, A Shocking Forecast

May 9, 2015 By admin

According to a report by “statista.com” B2C e-commerce sales worldwide will reach a whooping 2345 billion US dollars by 2018. It was just 1471 billion US dollars last year.

Online shopping has spread around the world. Regardless of numerous reasons, online shopping is what people do frequently. Due to this the GDP rate of the world is increasing.

Online Shopping

Another report by Statista shows, B2C e-commerce accounted for 0.92% of the global GDP in 2013. It is forecasted to rise to 1.61% globally by 2018.

Huge success for online shopping has created a grave situation for physical stores. It is believed that in the coming times shopping will completely turn digital. Here’s why…

Physical Shops Are Closing
It’s possible that you have witnessed the closing down of shops in and around your area. It is also entirely possible for you to see the slow transition from physical stores to e-commerce stores.

Today, modern businesses start as online venture and then opt for physical store. Take for example, my friend who is a budding costume designer, features her clothes through her online outlet and doesn’t own any physical store. However, she is prospering with a substantial profit and looking forward to have a physical store in the near future.

Moreover, physical stores are becoming as a medium to woo customers online. That’s where Omni channel marketing comes into play and has changed the marketing scenario entirely.

Online shoppers are rising every hour
The other side says that online marketing is prospering with big online retail brands like eBay, Amazon, Birch box and similar online marketplace.
• The share of total online retail has changed drastically over the years. It has risen from 5% in 2009 to 10% in 2014, as written in economist.com.
• The total number of online shoppers in 2014 was 196.6 million.
• According to a blog post published in Business Insider, 18 to 34 is the age demographic who are spending more on online shopping in a year. This batch spends about $ 2,000 annually on E-Commerce.

Why is online shopping growing so acutely?
One of the chief reasons why online shopping has prospered is because it offers you full comfort. It lets you buy from your desk itself. No physical store gives that amount of comfort to let you get what you want with just a few clicks.

Online shopping provides retailers a weapon to track their prospective visitors and obtain consumer data. Through this data they get the following information:
• The definite location where the majority of the customers are located.
• How these customers reached their page.
• What kind of websites they visit.
• How quickly they go through the shopping process.

With this kind of information, any online store can change the business strategies to draw in more visitors and cater to their needs better. However, for a physical store it may turn quite tough to acquire such kind of exclusive data.

It is hard to predict where consumerism will reach in next 10 years from now. Although the signs are quite positive to assure that the online shopping is certainly the future.

Customer Review

How Customer Reviews Win Conversion Battle?

May 1, 2015 By admin

Does your business shines because of customer’s online word of mouth? How important are customer reviews for you?

Customer Review

Most businesses have adopted to online mediums to market their products and services. It widely affects how clients see products, services and businesses. Furthermore, how your business is expressed and perceived by the customers in their views and reviews further influences the buying decision of other customers.

Customer reviews are indeed powerful tool to win the conversion battle. More positive reviews you earn, the better you get in the eyes of new customers and the more you influence them to purchase from your website.

Statistic Overview-

online-review-stat
• Consumers reviews are trusted 12 times more than product description. (eMarketer)
• About 79% of consumer trust online customers reviews over a personal recommendation.
• According to Search Engine Land on an average 6 reviews are read before making a decision by 67% of the online consumers.
• 9 out of 10 customers, deciding which company will get their business, read online reviews of that company first.
• 81% of people said they prefer taking friend’s and follower’s advice related to a product purchase via social media. (Click Z)
• 67% spend more when they receive a positive overview from an online community of friends. (Internet Retailer)
• 44% of mothers use social media platforms for product recommendation, 73% of them trust recommendation given by the online community. (BabyCenter LLC)

What is the importance of customer reviews?
• It influences others to buy from your store.
• Gives you an idea about customer’s taste and needs.
• Tells you what is important for the customer.
• Gives you an idea how you can make your product better.
• Tells you how well your product is performing in the market.
• Gives you a better understanding about how your customers rate your products and services.
• At times, reviews also tell about customer service, which itself evaluates how company’s employees treat their customers.

Tips to Gather More Reviews:
• You ask for it, you get it.
• Give a direct access of link to review website.
• Use social media platforms.
• Offer customer service with a suggestion card.
• Follow up, but don’t irritate them.
• Coach your staff to ask for reviews, propose target incentives
• Be patient! It is a long term strategy just like SEO.

Once you receive reviews start monitoring them. Here are some tips to monitor online reviews:

Be active-
• Regularly check for new reviews, weekly update will be a good option.
• While going through various websites, note down how old are the positive reviews.
• Older reviews are weak to have an impact.

How to deal with the Bad Reviews?
• Don’t ignore them!
• Address them properly without any delay.
• Send a quick, polite response. Ask what went wrong and make it right at the earliest. (Show them that you care about your customers. Perhaps this might gain you a positive review at the end).
• Offer a discount or a refund on future services.

Win them with a courteous tone
If any review causes a strong negative emotion, remain calm and respond to the reviewer in a civil manner.

The crux is that positive customer reviews build loyalty and trust of other customers to buy from your store. It has a direct connection with your marketing efforts and generating high conversion rates.

You can also work on the presentation of the reviews to enhance them and get them noticed among your customers. For instance, if you are an owner of the Magento based E-Commerce website, Community Testimonial Extension can give your reviews a new look on your website, thereby helping in building customer trust.

So try to make a online brand image that flourishes through positive online word of mouth.

Cross Selling and Up Selling: A Consumer Driving Magnet

April 4, 2015 By admin

The world of e-commerce tirelessly works towards the chief objective to do more sale and earn larger profits. The objective thrives in an arena where even customers look for better options. The need is to make the ends meet.

Cross Selling and Up Selling

To go with customers perspective, most of the time people are sure only about their specific needs and some know a tiny bit of the way they will get satisfied with. Now to come back to the reality, there is a fine line between making a recommendation and trying to sell more. That too when they know that customer don’t find this cool enough, to stimulate their interests. However, if things are done in the right way wonders can be done, this is what the following Facts and Figures say:

The Fact
When Cross-selling and up-selling techniques(delicate tools) are used properly, they delight both customers and businesses is a fantastic way.

The Figures
In a survey carried out by Internet Retailer, about 35% of sales is generated by Amazon through cross-sales.

Cross selling and up selling, the difference
Proper implementation of cross selling and up selling phenomenally boost the sales at your online store. To streamline the entire phenomena let me tell you the basic difference between the two:

Up selling is a sales technique through which a vendor persuades the customer to purchase more expensive items and other add-ons in an attempt to make a more sale. Often, shops show certain options that are necessary and expensive, but very similar to the main product. For instance, if you are selling a cell phone, up selling will be offering the same cell phone with a metal body, or with additional configurations.

Cross selling is the practice of selling an additional product to an existing customer. For instance, if you are selling a cell phone, you can offer a cell phone cover and some free apps.

Cross selling and up-selling works in a great way for the existing customers. However, it advances benefits with the fresh visitors. The technique show more items of varied types (out-sellers, items with best review, best sellers) to the customers. Presenting more options with suggestions (reviews and most sold product) which creates a good impression in-front of the customer. Resulting in the rise in customer satisfaction and builds stronger trust. Apparently, the rise from the total regular orders will be seen. And therefore, boosting the conversion rate of the online store.

Cross selling and up selling works well everywhere. You can use it before purchase along the product/category page, right below the main product or in the sidebars and sometimes both the ways. During the purchase it can be used in the shopping carts and checkout and abandonment emails. However, after purchase you can follow your customers with the follow-up mails.

The technique of up-selling and cross selling is very effective. However, you can certainly boost it by following these tips:

Don’t overload your range with options: Too many options creates confusion for your customers. Be smart while picking related products, choose relevant and less. If you are still thinking to show a number of items, display it with carousel.

The key tool is to be RELEVANT: Showing radically different items is not a good practice in up sell. This can also refer to different brands. For instance, you are showing an iPhone to a user who’s looking through a low budget Android phone, is a wrong tactic. Similarly, products with a different set of features and completely different prices are not an appropriate up sell. Always, remember that both the products should satisfy a customer’s need.

Don’t stick to Fixed Prices: Product cost along with coupon codes and discounts, shipping, customer reviews, branding are the important factors which influence customers decision making process. So, if your up selling suggest an item that satisfies one’s needs, the chances of customer’s hesitance with the higher price will decrease.

Value proportion: If you want your customers to select another variant, assure that you have a value proportion for it. Always answer these first Why will customer spend more money on it? What will he receive from it?

Check how it looks on mobile: View how your cross-sells and up sells look on a tablet and mobile. Not to ignore that majority of our consumers shop from mobile phones. So, keep a check on the reality, it might be looking quite promising on the desktop screen, but very different on your mobile screen.

Keep it short and personalize the headings: If you are looking forward to put a suggestion on checkout, don’t add a new step to the process of checkout. In place of it, try using checkboxes and radio buttons instead. Also give a personalized touch to the heading, as it stimulates customers interest.

Need-To-Maintain-An-Online-Reputation

Need To Maintain An Online Reputation For Actual Business Growth

September 6, 2014 By admin

Reputation is kind of image in front of other. Similarly, Online Reputation is also image of your or your business on the Internet. It is something you need to improve or maintain for better results. For its management it is necessary to know various factors which impact your reputation.

There are billion of people which are using Internet either for their entertainment or for any kind of professional purpose. From those not everyone trying to keep their professional image high or effective. Few people don’t take it serious and even they don’t know about the standard rules for online behavior. If you want to look like an expert, no matter what field of work you are in then you have to follow few rules and maintain your online profile. This process is known as online reputation management, which impacts your business positively.

Reputation Management is the understanding of someone’s business online. People take service from them and then write comments or reviews according to their service or products. Which is the first impression on new buyer that what kind of their service is and how user reliable they are. Positive feed back also results postively. Because anything we do online is very easy to track when we are working on social media sites. It is necessary to know how to reply when someone post negatively regarding our service. No need to make an argument there, these small things also affect/effect business.

There are few steps for handling online mistakes that could damage your reputation:

NEED TO MAINTAIN AN ONLINE REPUTATION

Make A Plan: If you are worried about your online presence. Then make a plan how to handle all those small mistakes about which you are unknown. It is important to grow you as a team, so make sure every employee knows how to handle tough situation.

Try To Find The Reason Of Problem: Sometime there are very funny reasons behind the problem. So handle them carefully that it will not make bad impact on your reputation. This varies from customer to customer and client to client also.

Fix Your Problem: When someone post unwanted to your post then it doesn’t mean that you are not able to do anything. You have to fix all these issues. Make your reputations up by solving there issues and let other people that they use to comment something in your favor.

First Apologize Then Explain: Our main target is to defend ourselves. But any kind of defense can be easily seen as an unwillingness to admit the mistake. For that you have to explain the reason after apologize. You have to act like a sincere one.

Clear Discussion With “Negative Leaders”: Search all from posts that who is offended by your mistake? Who is trying to spread words against you? Which one is the most upset customer? Try to reach those people privately or individually to apologize. Some kind of discounts, complimentary products etc are also appropriated in few cases.

Avoid Silly Discussions: There are few people who won’t accept apology and they just trying to evoke a response. No need to make argument in that case. It will just push the issue into the spotlight. So, stop engaging with these people and move on.

These steps will surely hep you to maintain your reputation. A good presence can win your business, promotions and respects where as bad presence can influence people and change their opinions about you. Set up your own reputation, don’t let someone else create your reputation, create your own digital strategy. Try to post your information on regular basis. Use SEO to ensure your preferred articles are in the top results for your name. Also, make it sure that your accounts are secure, no hacker will use them to post unpleasant data. Try to hide your personal information as much possible. Protect your e-reputation and boost digital presence by staying on the top.