May 24, 2019
In this episode, I teach how you can convert traffic effectively and boost sales. It’s easy to get the clicks and traffic, but getting people to actually buy is the primary issue for most eCommerce sellers. Visit ecomcasestudy.com and check out our case study that breaks this down into more detail. You can learn how we help businesses convert traffic. As I have helped many businesses, I’ve seen how most have a two to five percent conversion rate. This is a low percentage, but I show you how you can increase that.
Since most traffic takes time to convert, you must do two things. First focus on those who are ready to buy immediately. Then you must also have follow-up and remarketing in place to capture those who are not ready to buy. In this episode, I show what to do to maximize those people who initially show up - the two to five percent who are ready to buy. On a regular basis, I see most sellers only have a half percent conversion rate. I give ideas that dramatically change that percentage. Listen now to find out how.
Conversion assets are things you put into your store to help increase conversions. Some of these include social proof, reviews, benefits, great copy, and propositions. Each of these compound on one another and, ultimately, that is what drives the shopper to buy your product. Just like compounding interest, it’s not any one investment that makes you a lot of money. Compounding conversion assets is the same - it’s not any one asset that makes conversions skyrocket. As a seller, there are a number of different things you can do and each of them has a compounding effect.
I learned a valuable marketing strategy years ago when I worked at Banana Republic. We always placed the bright and textured fabric at the front of the store - soft, silky fabrics and things like corduroys. The first thing people would do when they walked into the store was to touch the fabric. It was a way for them to experience the product. Similarly, you must replicate this experience in your eCommerce business. Start with the number one non-negotiable asset - video. It doesn’t have to be fancy, simply make sure your video shows detail. Product video helps the customer imagine having your product in hand.
The interactive experience of augmented reality (AR) helps shoppers perceive your product in a so-called real world. The value of AR is how it can bring your product to life. Just as a video is vital to selling your product, AR is taking off for the same reason. The first mass adoption of AR was Pokemon Go. Now there are companies like Benefit Cosmetics. They are doing amazing things with AR using your camera. Once a selfie is taken, they can augment eye shadow color and other cosmetic manipulations. They have invested a lot into that technology - but the point is, the more you can duplicate that, the better.
Using more conversion assets is always better than not using enough. Don’t worry about having too many videos or too much information. You could have two or three videos detailing different parts of the company. Also, make sure you have a product video. Keep in mind, these things compound over time. More and more of these will make a case and give your shopper a reason to buy. Remember, you will never lose a sale because of what you said - but you will always lose a sale because of what you did NOT say. So make sure you’re saying more, and make sure you’re giving the experience of owning that product.