What is a retargeting campaign ?
Retargeting is an online advertising method of displaying ads to users based on prior engagement.
I'm sure you may have noticed personalized banner ads following you around, while you browse the Internet. This happens when you visit a company website but don't purchase, so the company implements retargeting campaigns serving relevant ads to attract you back to their site.
How does it work?
Retargeting is based upon codes placed with HTML of your website. So, when someone visits your website, the code will be able to tag your visitors. This way you can serve them with your display ads all over the web.
Why do I need to consider it?
1 - Increase engagement
Only 2% of your site visitors are likely to make a purchase at the very first visit, what about the remaining 98%. Many business owners overlook the potential of this source. Undertaking a retargeting campaign for those remaining 98% visitors, and out of them even if you manage to recapture 10% of visitors back to site will give a boost to your ROI, instead of ignoring them. By serving personalization ads to visitors who already expressed interest in your site, there are more chances of them coming back to your site to make a purchase. This way you increase engagement, which in turn increase the chances of conversion.
2 - Boost brand visibility
Any and every customer endeavors proper research before they decide to purchase. Therefore, implementing "retargeting campaigns" will keep your brand visible amongst those prospects while they evaluate the competition. This way you evoke those visitors who had left your site earlier and bring them back to your site for making a purchase.
3 - Brand awareness
A customer who visits your site for the first time will not be familiar to your brand, he may have landed on your site either by surfing the or following a link over the Internet. So, there are more chances of them leaving your website on-the-go. Retargeting campaigns delivers a meaningful impression and reminds your visitor displaying relevant ads who previously had limited exposure to your brand.
4 - Increase conversion
Targeting new customers will surely bring in traffic to your site, but retargeting visitors who have already expressed interest in your brand will create more impact, and you aren't wasting budget on users who just won’t convert. Therefore, implementing retargeting campaigns will surely help you increase your returns on investments.
Below are the most common retargeting campaigns, that you can implement:
1 - Site Retargeting: For those visitors who have previously visited your site.
2 - Email Retargeting: For those visitors who have viewed your brand introductory email.
3 - Search Retargeting: For those users who search one of your keywords while browsing the Internet.
4 - Facebook Retargeting: For those users who visits your website, via Facebook.
Don't bombard retargeting ads on daily basis to the same people, as they may not like it and you may end up loosing a loyal customers. You don't want to create an impression that doesn't value privacy, because your retargeting campaign ads will follow those people all across the web.
Retargeting surely serve as a valuable component of a marketing strategy, and will be the most successful marketing campaign if done in correct way.
"Window shopping" has been around for decades. Earlier, we had gone window shopping from one store to another, but today, with the rise of technology, we have moved from window shopping at the store to "virtual window shopping" using internet, and now, we browse on-the-go with our smartphones. In fact, for many people, looking up store locations or reading product information while shopping in stores is an integral part of the purchase process.
With more and more people using “Internet” over their smartphones, virtual window shopping sites has created a great impact on the way they purchase products, from researching to finalizing the product. Not only this, there is no longer a need to stroll into different retail stores, compare prices, read reviews and then decide to buy. You can easily access virtual window shopping sites over your phone anytime, anywhere. This way, virtual window shopping sites influences consumers buying decisions.
Below are various stages of a purchase decision process, that virtual window shopping sites gets involved to trigger consumers and influence purchase decision at each stage.
1 - Product awareness - Virtual window shopping sites offer a great platform of product awareness. Offering a large assortment of products and brands, consumers can easily find the product that they wish to buy, compare that product with relevant products and brands, know the product features, which in turn creates a deep impact in consumers buying decision.
2 - Research - From in-store research to “couch” research, virtual window shopping sites, can be easily accessible on computers, laptops, and even your phones, using Internet. This way, it enables consumers to retrieve vital product informations on-the-go, that includes product features, price and other product-specific details that influences buying decisions.
3 - Reviews - Today, any and every shopper will look for product reviews before they intend to purchase it. Virtual window shopping sites has become one of the most influential method to seek reviews. A study suggests that 24% of smartphone users internationally access virtual window shopping over their phones while shopping, which helps them to compare prices, get product information and read reviews posted for that products, on-the-go. This way virtual shopping window keeps shoppers better informed, influencing their buying decisions.
4 - Evaluation - With so many options to shop online, it becomes confusing for shoppers to evaluate a product that they intend to purchase. But, with the rise of virtual window shopping site, shoppers can easily compare and settle for the best deal. So, if you walk in a store and are confused for making a purchase, you can easily access the virtual window shopping sites through your smartphones and compare deals to evaluate the best one, from the best store, and make the purchase.
5 - Purchase on the go - If you intend to purchase a product from the store or online, virtual window shopping sites allows you to instantly compare products and brands, and locate stores, making it easy to finalize and purchase products on-the-go.
Can "virtual window shopping sites" benefit retailers?
Ofcourse yes, with more and more shoppers relying on virtual window shopping sites for making purchase decisions, it offers an open platform for retailers to leverage this competitive advantage. It becomes difficult for small and medium retailers to compete the product price set by large retailers, but with positive product reviews and feedbacks, they can surely drive-in customers to their site. This platform also increases brand awareness and customer base, which is important for the bottom line of any business.
Having a website can surely bring in traffic and also convert many of them into buyers. But, if you are looking for a way to expand your reach and make more sales, then the buzzword is “marketplaces integration.” Yes, marketplaces will allow you to list your products on a wider platform with millions of visitors on a daily base. Doesn't it sound cool?
Today, a marketplace is a boon to many small and medium retailers, but let me tell you, a wrong marketing approach will keep your products unnoticed and in the end affect the bottom line of your business. So, to make the most of marketing on marketplaces, below are 5 essential tips that you need to keep in mind for a happy selling.
Sell products which are in trend
As a retailer, it is certainly profitable to post every products on Amazon, eBay, Shop Clues and similar marketplaces, but some of these marketplaces limits you – at least in the initial stage - on the number of products you may post or on categories in which you may post. Therefore, it is always recommended to monitor and analyze consumer behavior and list products that are in trend or best selling products, that marketplace shoppers will want.
Don't limit yourself to Amazon and eBay
No doubt, Amazon marketplace integration can bring the best return on investment and eBay marketplace integration can help you expand your reach, but don't limit your product offering. Instead, there are many other marketplaces to try, depending on your product offering. Just to name a few options, Cqout.com, eCrater.com, iOffer.com, can be used, depending on the product your offer. If you are a retailer selling handmade products, then Etsy.com cannot be missed.
Sell niche products
With more and more sellers diverting their products to online marketplaces, it becomes crucial for you to find a way so as to make your product stand out in the crowd. Try and list products for which there are few competitors. Just to give an example, Amazon marketplace integration creates one page for each product available on its site. Therefore, if you are selling one those, then your product are stuffed into the same page. This way it becomes difficult to make your product visible, unless you are willing to keep them at the lowest price that your competitors.
So, offer niche products on marketplaces that will help you gain both sales and profit margins.
Sell across the globe
Do not limit your offering, but rather have shoppers from across the globe. With the rise of ecommerce software solution, you can know easily integrate your marketplace store with shipping solutions like FedEx to help with cross-border sales. This way you can widen your reach, as you go on.
Manage your credibility
You never know, you credibility can make wonders in your sales. Giving an example, to qualify and win Amazon's “Buy Box” contest, apart from other factors, Amazon determines how prominently that retailer is featured. Keeping this in mind, it becomes important for your to increase customer engagement and satisfaction. Utilize social networking sites for customer engagement, and encourage feedbacks.
EBay marketplace integration offers a platform where it buyers and sellers rate each other. So, if you sell on eBay and if your customers has paid for the product, shoot a positive review, in return she may give you one too. This way you manage your credibility.
Marketplace integration is the buzzword today, but it requires more attention to the details highlighted above. Listing your products on marketplaces is not sufficient, you have to market well to get your products noticed. Executing the 5 essential tips mentioned above will help any retailer a huge advantage over your competition, which in turn will lead to more sales and profit!
Every online retail store owner aims to achieve more sales, and in order to increase sales, one of the important factor to consider is to optimize the checkout process of your online store.
Your checkout page layout can be the most crucial part of your online store, either bringing a customer to the point of a sale or pushing them away from one.
Already the cards are stacked against you: according to "Forrester Research," the average shopping cart abandonment rate among online retailers is 36%. 38% of online shoppers do not purchase online as they are forced to register with the site before purchasing. And, "Forrester’s Online Retail Checkout" report showed 39% of online non-buyers didn’t purchase online because they thought “returns would be a hassle.” So, it is important for you to get your checkout process right.
In today's article, I would like to highlight few points that will help you optimize checkout process to increase sales.
Display clear visuals and progressive process indicators
Most of times, shoppers do not complete the checkout process as they are clueless. Therefore, the foremost thing to consider, in order to optimize the checkout process, is to offer users a visual checkout process which means to include progressive process indicators so that your customers know how long it will take them to complete an order. This way, it leaves users less chance to abandon the checkout process in between.
Avoid force registration
As mentioned in "Forrester's Research" - 38% of online shoppers do not purchase online as they are forced to register with the site before purchasing. This clearly indicates that shoppers will not like to share their personal information at the very first purchase. Therefore, it is not at all a good idea to make registration compulsory in the checkout process. Instead allow users make the transaction as guest to gain their trust, in turn increase sales in future.
Only collect information relevant to purchase
Online shoppers do not find it safe providing information apart from the purchase they make, therefore it is suggested to collect information relevant to purchase. Asking for less information will have shoppers purchase more, and this is a fact.
Avoid asking same information repeatedly
Imagine your site has four steps to complete the checkout process and out of which two steps ask for customers delivery address and billing address input each time. Can you imagine how frustrating would it be? Instead, it is suggested to adopt tactics, giving an option to just check mark a box if shipping address is the same as of the billing one. This almost reduces the effort in filling up the address form repeatedly, which in turn increase conversion rates.
Include trust factor 1
Trust is one of the most important factor that you will have to create with your customers who will then shop more and more from your site. Online data frauds badly affects the shoppers mentality. So, it becomes important for your to inject a sense of security among the customers to deal with fears related to online transactions. Displaying the security icons on the transaction and payment pages is highly recommended.
Include a complete price summary
Its is always recommended to include a complete price summary, because if your customers are charged with additional fee at the end of the transaction, they will not complete the checkout process and abandon the cart. So, your payment page should display a complete price chart with all breakdowns, including shipping and other related charges. This will save your customers time and built trust to shop more and more from your site.
Provide a clear return Policy
"Return Policy" has an important role to offer in order to optimize checkout process. Displaying a clear return policy in the checkout process will ensure shoppers continue shopping as they know there will be someone to assist their returns in case of wrong or damage products delivered. The longer your return policy is, the more you receive orders.
Offer multiple shipping and payment options
As per multiple surveys, it is seen that many shoppers discontinue the checkout process due to less payment options available. Apart, from card payment options, it is wise to offer "PayPal" payment option, as well as cash on delivery. Offering multiple payment options will motivate shoppers to complete the checkout process.
Focus more on upselling
"Upselling" is the buzzword for any online store's profit margin. At the checkout process, displaying relevant products to the original purchase will help you increase the order value of that purchase. Also, it is important for you to offer an additional "Continue Shopping" button which will stop customers from checking out right-away.
Make registration a value added process
Offer and highlight certain benefits of getting registered to attract more and more customers create an account prior to their purchase. Making registration a value added process will increase customer database that can be used in your marketing strategy as well as entice them to shop from site.
You might also read: How to create best return policy?
Simple, yet powerful