Stats are quite boring, aren’t they? But believe us, they are extremely powerful when it comes to generating revenue! They shouldn’t be taken lightly. In fact, there are departments entirely dedicated to collecting and assessing business statistics to structure their ecommerce marketing strategies. Ignoring statistical data has the potential to ruin your business within years, if not months. That is why thorough ecommerce strategies are built on the pillars of ecommerce statistics.
Let us present some of the most surprising ecommerce statistics that will compel you to readjust your ecommerce marketing strategies.
Account Creation Kills Conversion
Ever visited a website that asked you to create an account to order something? It’s pretty likely that you would have left the website. Let’s be practical; you were there to buy something, not to make a membership account!
Websites that are dead set on asking visitors to make an account first kills the conversion rate. Survey says that around 20% of the shoppers abandoned their cart when asked to make a new user account. If you are running your ecommerce business, make it convenient for online users to make a guest checkout option.
Shipping Charges Kill Conversions
Let the stats say it all!
28% of the visitors abandon their carts after being presented with shipping charges at the checkout. This percentage doesn’t seem huge, but when compared with other reasons for cart abandonment, it tops the list. There is a psychology behind it. It is not like people do not want to pay the shipping fee, it is that they do not want to pay unexpectedly! The best way to go about it is to keep your shipping fee explicit and upfront. It would help if you were straightforward and plain in showing the shipping cost.
Retargeting is Effective
Being a marketer, you should be aiming for customer retention, higher ROI, and an excessive customer spending rate. Amongst effective ecommerce marketing strategies, retargeting has proven to be a powerful tool for marketing. Statistics validate that around 70% of millennials are favorable for retargeting strategy. You should start retargeting if you still haven’t. This strategy is for interested potential customers. It would be best if you pitch your visitors the same ad over and over again until they make the purchase.
Discounts will Get You Sales
Offering discounts on the items left in the shopping cart can be counted as one of the best ecommerce marketing strategies. A survey confirms that around 50% of the shoppers will finish the purchase if they are re-offered a discount on their shopping cart items. This corroborates that price is a bargaining chip that can be negotiated to make a sale. So don’t be stingy! Cut a couple of bucks for your customers to ensure more sales.
Positive Online Reviews
Consider this; your biggest marketers are your satisfied customers. How? Stats confirm that over 50% of the online shoppers make the purchase based on the online reviews on those products. Positive ratings and reviews are even considered more effective than testimonials on your website with respect to conversions. Customer-generated product reviews will definitely improve your conversion rate, so this technique should be added to your list of ecommerce marketing strategies.
Planning to Change your Marketing Approach Now?
We are pretty sure you will readjust your marketing approach if you still haven’t! Since well-founded statistics back these ecommerce strategies. Once these marketing approaches are adopted, your conversion rates will go through the roof.