Before the Internet even existed, retailers relied on an assortment of strategies and market intelligence tactics to boost sales—including promotions, direct mail, catalogs, window displays, focus groups, surveys, and ads. With e-commerce now critical to retail success, retailers must execute a new set of digital strategies and tactics to convert prospects to customers.
There are a number of methods retailers can employ to optimize e-commerce sales and gain competitive advantages, including gathering intelligence, testing layouts, optimizing images, personalizing offerings, and re-targeting consumers who abandon sites and shopping carts.
Understand Your Visitors
The first step to boosting conversions is to establish your current conversion rate and uncover insights that will help you make the best moves to increase sales. There are some excellent tools that can help you understand how users are interacting with your site.
These tools enable you to record, tag, and otherwise track visitors’ moves, including heat maps that show where visitors are clicking and scrolling the most. The insights you gain will point you in the direction of your biggest growth opportunities and help you understand which products and information are most valuable to customers.
Stay on Top of Trends
Knowing what’s hot and what’s not is key to optimizing conversion rates, which is why top retailers keep a steady eye on their market and competition. There are a number of solutions that do a fine job of tracking competitors and trending content.
Once you see which type of content is creating the greatest buzz and generating the most traffic, you can perform deeper analyses to gain insights to help you formulate strategies, identify target audiences, and more. Your messaging can be crafted and selection of offerings managed based on these insights.
Nothing beats engaging directly with customers to understand their preferences, motivations, and frustrations. Establishing a…