Part 4: Practical tips for growing your eCommerce conversion rates
I can’t believe we’ve arrived at the penultimate blog of our five-part blog series for increasing eCommerce, also known as electronic commerce, digital commerce, or internet commerce, refers to the buying and selling o... More conversion rates for eCommerce brands and retailers. If you haven’t had a chance to read our prior post, be sure to check it out (Part 3: Practical tips for growing your eCommerce conversion rates). Marching on, today I’m revealing two more powerful tips to dramatically improve eCommerce conversion rates and help your business scale quickly and profitably.
Tip # 8 – Bring back shoppers with in-the-moment personalized emails
Arguably, email is still the most used medium to communicate, connect and retain customers. One of the primary ways email marketing can provide outsized value is through scaling personalized messages. Not surprisingly, a survey of North American marketing execs found that 65% of email marketers deem dynamic content as the most effective personalization tactic in their arsenal. The message is clear: personalized emails will improve your eCommerce conversion rates.
When you send an email to your customers, you must make your message count, or risk losing your chance to build a connection. Getting up-close and personal with promotional or Behavioral email refers to the automated emails that merchandisers and/or marketers send to eCommerce shoppers based on ... More is an effective way to not only connect with the customers in a timely manner, but also get them back to your eCommerce site for repeat sales.
To achieve this, you should apply content personalization capabilities to email by adding products and offers that can be dynamically displayed at open time. This personalized content should be based on propensity to buy—using intelligent insights from the recipient’s site visits, their interactions with products and categories, and the individual or cohort preferences. By taking this approach, you will achieve higher campaign ROI for the outbound email and drip marketing campaigns sent in conjunction with your Email Service Provider (ESP).
In addition to promotional emails, you should also send hyper-personalized emails to your recent shoppers with content based on their shopping behavior for retargeting. Some key examples of such shopping behavior triggers are: cart abandonment, browsing history, category abandonment, low inventory or price changes. These timely, behavior-based emails are excellent for bringing shoppers back to your e-commerce site and engaging them with relevant products. Personalized emails help you influence shoppers to feel either a sense excitement, concern, desire, urgency, or a fear of missing out—and nudge them over the finish line to convert.
Tip # 9 – Optimize your eCommerce personalization performance
You’ve heard that it’s difficult to improve what you can’t measure. To influence higher conversion rates, it’s important to frequently review eCommerce analytics to gain complete visibility into your site’s personalization performance. Diving into your real-time analytics, you should analyze your performance statistics—funnel conversions, visits, orders, revenue, conversion rate, average order value, revenue per visitors—and constantly look for trends.
While making important personalization configuration decisions, you should run A/B or multivariate split experiments to understand the incremental impact on campaigns. As a best practice, you should split traffic based on different keywords, relevance, and weights, while quickly comparing different outcomes and scenarios using analytics. Also, since shopper behaviors continue to change over time, you should frequently optimize product placement based on attributes, specials, seasonality, special promotions, and margins via business rules.
By taking a data-driven approach and having a tight feedback loop between performance and personalization strategy, you stand a better chance of improving shopper conversion rates.
Summing it up
In today’s latest post, we shared the following key insights to accelerate progress in your eCommerce personalization journey:
Email is still the most used medium to communicate, connect and retain customers, so it pays off to leverage personalization for both promotional and retargeting or behavioral emails.
Personalized emails help influence shoppers to feel either a sense excitement, concern, desire, urgency, or a fear of missing out—and nudge them over the finish line to convert.
Having done all you can to improve conversion rates, It’s important to frequently review eCommerce analytics to gain complete visibility into your site’s personalization performance.
Make it your religion to view real-time analytics, analyze your performance statistics—funnel conversions, visits, orders, revenue, conversion rate, average order value, revenue per visitors—and constantly seek out trends.
To account for changing shopper behavior, you can monitor and optimize product placement based on attributes, specials, seasonality, and margins via business rules.
In my upcoming blog, last in our series, I will be sharing a few more practical insights to help you convert browsers into buyers. However, if you’d rather not wait, you can download the Real-time Personalization -- in the eCommerce context -- refers to the practice of creating personal interactions and experiences ... More Guidebook – 10 Tips for Improving Conversions today. Also, if you haven’t explored the power of Reflektion’s next-generation customer engagement platform yet, I highly encourage you to contact one of our personalization experts today via reflektion.com/demo. Stay tuned for more exciting tips!
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Practical tips for growing your eCommerce conversion rates