[Pathway To Success] No 22, 3rd Nov 2013 - Cash in 2013 Christmas Shopping!

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Irena Whitfield

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Nov 10, 2013, 12:18:00 PM11/10/13
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Pathway To Success, Published since 2000
Volume 13, Issue No 22, 3rd Nov 2013
Publisher Irena Whitfield
Subscriber Count: 138,500+


Success is the result of good judgement,
Good judgement is the result of Experience, And 
Experience is often the result of bad judgement!
Tony Robbins


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What's New:

** 1st Nov: Subscriber Corner:
   Subscriber Article: 5 Holiday Social Media Tips for Ecommerce 
   Merchants by Armando Roggio
   Guest Article: Tips on Becoming a Successful Affiliate Marketer
   by Tips and Tricks HQ

** Read my articles here:

** theCassi News: Learn every information the minute it's out!
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A little note: our 2013 Calendar is all about puzzles...
Check it here:

Plus, as a valued subscriber, you can get a new toolbar
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Enjoy and stay tuned, your Pathway To Success is back in 14 days...


Sincerely,

Irena Whitfield
Your Publisher

P.S.: You can find answers to the basic questions related
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Publishing dates
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Contents

  1. Today's Feature Article by Armando Roggio
  2. Today's Tip On the Opportunity worth checking


Today's Feature Article

3 Ways to Improve Ecommerce Conversions this Month
Armando Roggio

Banner ad retargeting, live chat, and a well-planned series
of checkout abandonment emails could boost an online
retailer’s conversion rates and sales immediately with a
relatively small investment in development time and money.

In the second quarter of 2013, U.S. average ecommerce
conversion rates were around 2.6 percent, according to
Monetate’s EQ2 2013 Ecommerce Quarterly report.

Even a small improvement in conversion rates can have a
significant impact on sales and profits. Consider an
Internet merchant that has 1,000 site visitors per month (
12,000 per year) with an average order value of $75.00. At
the 2.6 percent conversion rate that Monetate reported,
this merchant would have about $23,400.00 in annual sales.
But, if the seller was able to improve its conversion rate
to 3.6 percent, annual sales would rise to $32,400.00, an
increase of about 38.5 percent.

There are many things ecommerce marketers could do to boost
purchase conversion rates, including employing banner ads
that appeal to recent visitors, adding live chat, and
initiating a series of checkout abandonment emails.

Retargeting Ad Banners

“Retargeting” can describe a number of marketing tactics
aimed at encouraging shoppers to return to a retail site
after they have looked at products but choose not to
purchase.

One of the most common forms of retargeting is to show
shoppers banner ads that show the products they look at
earlier. This approach can be effective and is easy to
implement.

“Technically all that is necessary is to place a JavaScript
tag in the footer of your website,” explained retargeting
solution provider, AdRoll, on its website. “This code
creates a list of people that visit your site by placing
anonymous retargeting ‘cookies’ in their browser. This list
allows AdRoll (or other retargeting vendors) to display
retargeting ads to your potential customers as they visit
other sites.”

The most difficult part of employing retargeting banner ads
is actually creating the ads. Pasting the appropriate code
into place on a website takes a couple of minutes and,
typically, retargeting ads cost the same as other online
display ads or pay-per-click ads.

Live Chat

Live chat can help an online retailer answer customer
questions, respond to customer concerns, and boost sales.
In fact, adding live chat may be one of the easiest ways to
improve an ecommerce business overall., and it can be
simple to implement.

It is worth nothing that live chat is not new to the web or
to ecommerce. As a feature it has been around for years,
and there is a lot of data showing the value of adding live
chat to a site. For example, a 2010 Forrester Research
report, Making Proactive Chat Work, stated that 44 percent
of online shoppers liked having questions answered and
concerns addressed in the very middle of the purchase
process.

Live chat addresses the reasons that shoppers leave a site
without making a purchase. It can help identify problems in
site design or the checkout process. It can provide
insights about how product photography, product
descriptions, or even price are impacting sales, and it can
be a great marketing tool too.

With live chat is it very easy to identify shoppers’ most
common questions or concerns. Those questions can be
addressed in blog posts, other site content, or even in
social media. In this way, what the merchant learns through
live chat becomes part of a content marketing campaign —
helping shoppers and encouraging an increase in site
traffic.

Live chat is also easy to implement. In some cases, the
merchant needs only to add a snippet of JavaScript to its
site. The actual chat session may be done via a web
interface so there may not even be any software to load. In
terms of pricing, live chat can be reasonable. Some
providers offer a free plan for very small merchants —
Olark, as an example, is free for up to 20 live chat
conversations per month — and paid plans might start at $15.
00 per month for one operator.

The most difficult part of offering live chat is having
someone available to answer customer questions. But
merchants can easily control when live chat is available
and offering it even a few hours a day is better than not
having it at all.

Checkout Abandonment Emails

If an online retailer knows a shopper’s email address, it
is possible to remind that shopper about products left at
checkout, and recover a significant number of sales.

According to an October 2013 report from Listrak, an email
service provider, shoppers abandon a checkout process 73
percent of the time.

To address all of those abandoned checkouts and increase
conversion rates overall, about 24.5 percent of the top 1,
000 online merchants in the U.S. send at least one checkout
abandonment email to known shoppers, and many of those top
1,000 retailers send checkout abandonment email series of
up to three messages in an effort to recover or encourage
sales, again according to Listrak.

Of the conversion-boosting tactics mentioned here, checkout
abandonment emails are relatively more challenging to set
up and execute. Nonetheless, it is within reason that an
online seller working with a good email service provider
could have a robust checkout abandonment email series up
and running in a week or less.

********************************
Armando Roggio is contributing editor for Practical
Ecommerce and the director of marketing and ecommerce for a
multi-channel retail chain. He has 17 years of Internet and
marketing experience. arm...@practicalecommerce.com

********************************
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