Offline conversion tracking is a dream for B2B advertisers. It lets you take a whole chunk of data your automated bidding strategies were previously missing out on and optimize toward it. But if you’ve set up offline conversion tracking, and you’re not quite sure what to do next, here are some tips on how to optimize for the best lead quality.
1. Assign Value to Your Conversion Actions
Think about the lifetime value of your customer and the steps along your customer journey. You can assign value to each step along the customer journey to make sure your campaigns are optimized to the right conversion actions.
First, you’ll determine the lifetime value of a customer. In determining the lifetime value of a customer, you want to consider the number of users who converted from PPC clicks, average revenue per purchase, average purchases per year, and then number of years they’ll be a customer. Multiply all of these number together, plus your profit margin, and subtract your Google Ads spend and voila! You have the customer lifetime value.
From there, you’ll work backwards to determine what value each step of the customer journey has.
Let’s imagine you sell software to enterprise level businesses. Your average lifetime value for a customer is a $10,000. You know on average, before someone becomes a customer they download a case study, then sign up for a webinar, and if they attend a webinar, your sales team marks them as an SQL and takes it from there.
That’s three steps before they become a customer. You know from experience that about 10% of people who become SQL turn into customers. Your $10,000 customer lifetime value multiplied by the 10% conversion rate from SQL to customer means the value of a meeting attendee is roughly $2,000. From there, you can continue working backward to determine a value for each step.
2. Create Custom Columns for Each Stage in Your Sales Cycle
Continuing from our previous example, you now have your 3 steps in the sales cycle (case-study, webinar, and SQL), and you know the rough value of each. Create custom columns in the Google Ads interface to better organize this information. Access custom columns by choosing ‘Modify Columns’ and search for ‘Custom Columns’.
Creating custom columns is the easiest way to define metrics around your imported offline conversions. You can also lump together different conversion actions. If you’re tracking multiple case study offers as conversions, you might lump those together under one umbrella in a custom column. You can assign value to each conversion action, making it easier to track metrics like ROI or revenue. You can also create custom cost/conversion metrics for different conversion actions.
3. Optimizing Your Campaigns Towards a Conversion Action
Which conversion action your campaign optimizes for really depends on your campaign objectives. Using the same sales cycle steps as we did above, you know that your sales cycle is long, so it may take a while for leads to become sales-qualified. In this case, you might want to set up your campaigns focused on awareness and reach to optimize toward the first step in your sales cycle, a case study download. From there, you can use remarketing campaigns to drive users to more down-funnel conversion actions. – Read more
Customers have come to expect personalization when they’re shopping online. They’re starting to see this as a standard service and appreciate receiving special, tailored offers.
Ecommerce personalization enables you to treat every customer like a VIP. And when customers feel like VIPs they’re more likely to stay loyal to your brand.
Ways to keep customers happy include providing them with a seamless customer service experience. For example, implementing VoIP technology is a great way to handle incoming calls. Other ways to keep satisfaction levels high include offering a customized shopping experience like no other.
In order to build a customer profile (or buyer persona) you need to gather data from your existing subscribers and buyers. One good source of data is the information that’s input when a customer signs up to buy or subscribe to your newsletter. When you have amassed enough data you can dig through it to identify common traits that many of your customers have. Such as, if they are in specific age groups or genders. Then you can use this information to help you create an ideal customer profile and targeted campaigns for people in those demographics.
Having customer profiles will help you implement personalization strategies. It will help you monitor your customers’ behaviors (This is something that customers are generally happy for you to do, so long as it leads to them having an improved shopping experience).
Once you can identify customers by their profiles, you’ll be able to offer them products or information that may be of interest to them.
When you ask people to create accounts, make it easy for them to do so by adding a checkbox at the checkout that nudges the customers to add their details.
2. Segment email subscribers
You can segment your email lists by geographic data, demographic data, psychographic data (lifestyle, activities, etc.), and behavioral data (based on purchases, browsing behaviors, etc.)
Once you’ve segmented your lists you can make sure you send appropriate content, for instance, based on a customer’s location. Say you’re promoting a ‘winter sale’. You only want to send out emails to subscribers in locations that are currently, or are soon going to be, wintry.
Pair your email campaign with a landing page to boost conversion rates. Send subscribers an email that reflects their purchasing history – along with a link to a landing page that tells them more about those products or services. Linking them to a specific landing page (rather than the generic homepage) increases the likelihood of them taking action.
Personalize email subject lines to include subscribers’ first names and send out celebratory birthday emails with special money off vouchers.
Other ways of personalizing include sending emails inviting customers to leave their opinions. These business review examples can give you an opportunity to reply personally to subscribers who love your brand as well as respond to criticisms.
3. Create personalized homepages
Homepages are your online store’s front door. So apart from making sure, your landing page is optimized, make sure you give customers a warm personalized welcome based on their purchases or browsing history. By using tracking cookies you can see which pages a previous user has visited and present them offers that might be relevant to them.
If, for example, someone has previously visited a blog on ‘how to start an ecommerce business’, next time they visit you could invite them to download an eBook on order management systems.
Or, for instance, if someone has previously browsed the ‘15% off boots section’ on the ‘women’s sale’ page you can show them ‘new women’s boots just-in’’ on the homepage next time they browse your site.
Having this information also opens up further marketing opportunities in terms of email updates about new products that might fit the bill. If, for example, a customer has expressed an interest in creating sales literature for their website, you could send them an email inviting them to use your online digital brochure maker. – Read more
Shopping cart abandonment is the most heartbreaking of conversion killers. it is also a fertile place to increase the performance of your website.
Shopping cart abandonment is like cholesterol: There is a good kind and a bad kind. For each there is a strategy for reducing the impact of abandonment on your business.
Good abandoners leave because they aren’t done with their shopping process.
Bad abandoners leave because you surprised them or didn’t provide the information they were looking for.
But it’s 2020, and the number of smartphone dependent shoppers has grown considerably. Thus, we will add one more layer of complexity to the shopping cart abandonment recovery strategy: desktop vs mobile visitors. Why it happens and what to do about it.
Cart Abandonment Rate Formula
The shopping cart abandonment rate formula is quite an easy Key Performance Indicator (KPI) to calculate. Divide the total number of completed purchases by the number of shopping carts created within the same period. Subtract the resulting number from one and multiply by 100 to get the abandonment rate percentage.
Definitely not a bad shopping cart abandonment rate. Only 33 out of 100 customers are leaving their carts behind. Do you experience high add to cart but low conversion rates? Keep reading.
Top 7 Cart Conversion Optimization Solutions to Eliminate the Causes of Cart Abandonment.
The difference between mobile and desktop visitors
“A growing share of Americans now use smartphones as their primary means of online access at home. Today roughly one-in-five American adults are “smartphone-only” internet users – meaning they own a smartphone, but do not have traditional home broadband service.”
Source: Surveys conducted 2013-2019. Data for each year based on a pooled analysis of all surveys containing broadband and smartphone questions fielded during that year.
Traditionally, the desktop computer is a research tool and the smartphone is a dopamine delivery system.
These are two very different uses of internet attached computers.
For someone on a desktop, adding your product to their cart is the end of a journey. For the mobile user, the add to cart is to see how it will feel.
For a growing segment of our population, this is changing. For more and more people, the smartphone is their only source for communication, research, and dopamine. Reliance on smartphones for online access is especially common among younger adults, non-whites and lower-income Americans.
For this reason, we are not going to assume that most mobile visitors are “just shopping.” We are going to look at the causes of checkout abandonment and provide a playbook for eliminating them.
There are also consumers who only buy your products on desktop computers. They would not even think to pick up their phone and buy what you sell.
Let’s dive into how to reduce shopping cart abandonment and improve conversions.
Why do Shoppers Abandon the Checkout Process?
Just as science has identified “good cholesterol” and “bad cholesterol,” there are “good” and “bad” abandoners among your website’s visitors.
The Good Abandoners
Good abandoners leave you as part of their process. They are walking all the way to the edge of buying, even though they are not ready to buy. They are imagining purchasing from you. Yet, they fully intend to continue comparing your offering to alternatives when they start the checkout process.
And they may be hoping you’ll hang on to their selections for when they return. Wish lists and persistent shopping carts are a big help to these abandoners. More on that later.
The challenge is to get them to come back and buy when they are done. We cover some of the strategies for retargeting this visitor later on this article.
The Bad Abandoners
Bad abandoners leave you because they didn’t like what they saw after they got started. These abandoners are bad for you because they are lost opportunities. They were going to buy, but you chased them away with your checkout process. – Read more
Email drives more repeat online purchases than search, direct, and social channels. Using the right ecommerce tools is key to growing your business online. Here are 10 popular ecommerce tools that integrate with AWeber.
But we’re willing to bet that email marketing isn’t the only tool you use to run your ecommerce business. And it shouldn’t be. With the right ecommerce tools in your arsenal, it’s easy to turn first-time visitors into lifelong customers.
Pairing email marketing with top ecommerce tools can help businesses of all sizes automate their marketing and focus on growing their business.
Email is incredibly effective at driving ecommerce sales
Email plays a pivotal role in encouraging a customer’s repeat purchases — email drives more repeat sales that search, direct, and social channels
Integrating your email marketing with the right ecommerce tool can help you:
Grow your audience through personalized communications and landing pages.
Tag prospects based on interest or buying habits to send more relevant and personalize emails.
Automate targeted email campaigns to segmented lists.
Send cart abandonment emails to close more sales based when customers leave products in their online shopping cart.
But finding the perfect ecommerce solution is no easy task. There are hundreds of providers to choose from. So to make it a bit easier for you, we identified 10 of our favorite ecommerce integration solutions that seamlessly integrate with AWeber. – Read more
Your landing page is the face of your brand. It digitally introduces your visitors to the products or services you offer and the problems you solve.
Though widely popular among the digital marketers across the globe, only a few top contenders in a niche understand the nitty-gritty of creating a landing page that converts at par with the industry average.
What is a landing page?
A landing page is a standalone page designed to generate qualified leads. In order to achieve this objective, you can have micro conversions on your landing page, such as filling out a form, signing up for a free trial, registering interest in a product or service, etc.
Marketers generally send warm traffic to a landing page—the traffic that has shown some interest in your offer. Among other channels your visitors might come from pay per click (PPC) advertising through social media or through an email list.
Landing page conversion rates vary with industries and their objectives. Hence, it’s unfair to set an ideal conversion rate that fits all industries.
The graph shown above illustrates the difference between the high-performing landing pages and others. To set a target for yourself, you can refer to the conversion rate benchmarks in your industry.
What is the first step to building high-converting landing pages?
Don’t fall for any manual that guarantees a high-converting landing page—they don’t exist. As mentioned in the above section, the conversion rate standards are industry specific, which can probably guide you setting a target in the initial stages of your landing page design process. However, as a starting point, it is imperative for you to have a sound understanding of your brand and its value propositions, apart from having knowledge about basic website design and user experience (UX).
Iterations never hurt, but guessing games can do collateral damage to your business.
Nielsen Norman Group conducted a study on people’s online browsing habits. The study has 120 participants who interacted with thousands of sites in different niches. Using eye-tracking software, they looked at how people interacted with different websites.
Based on their findings, the Nielsen Norman Group concluded that; “Users do scroll, but only if what’s above the fold is promising enough. What is visible on the page without requiring any action is what encourages us to scroll.”
Unsurprisingly, the majority of the high-converting landing pages are designed to have the maximum above-the-fold impact. Many successful landing pages contain all of the key information a visitor might need above the fold, almost like a mini sales page. Take an example from VWO.
You can see, the content above the fold includes essential landing page elements that help convince a visitor to take action. It includes:
Call to action
The design of the landing page relies on grabbing the users’ attention right from the start. If a visitor wants to find out more information, they can then scroll down the page, where critical elements of the sales message are expanded upon.
A headline with impact
David Ogilvy, the founder of the global marketing company Ogilvy, famously said about headlines: “five times as many people read the headline as read the body copy.” His quote is from a pre-internet age, but the sentiment holds to this day. – Read more
With every other blog post talking about eCommerce conversion strategies that can help you boost sales, it can get a tad overwhelming and exhausting to narrow down on ones you must pay attention to. To that end, we have done the heavy lifting for you and shortlisted those we know are sure to make a difference in helping you grab shoppers’ attention and persuade them to purchase from your online store.
In this guide to eCommerce conversions, we will look at 15 actionable tactics you can implement to stand out among the competition and get shoppers to fall in love with your online store.
1. Reverse engineer the customer journey
The customer journey tracks the steps a potential buyer goes through from getting interested in your niche, becoming aware of your brand, finding out more about your product to making a purchase. Most online depictions of the customer journey make the process appear simple. It is usually represented linearly and consists of 5 stages – from awareness to retention.
The reality of the customer journey is a lot messier. People skip steps, rush to purchase, or never come back to your website. Yet while the customer journey is messy, there are analytical tools that help you understand where visitors enter your eCommerce store, where they drop-off, and the common paths they take to finally make a purchase.
One of the most used tools for analyzing the on-site customer journey on your website is Google Analytics. You can create custom dashboards in Google Analytics that help you visualize how people move around your eCommerce site, the landing pages through which they discovered your product pages, and where there is a significant drop-off.
A comprehensive analysis of how visitors move around your eCommerce store and in and out of each stage of the customer journey can help you identify their pain points so you can rightfully tackle them through A/B testing.
2. Optimize your site speed
One of the simplest methods to increase conversions is improving the page load time. The reason for this is pretty straightforward; if a page takes a long time to load, your store visitors get impatient and leave the website.
The graphic below precisely illustrates the correlation between page load time and conversion rates.
While this chart comes from a study on general conversion rates, there is also a large body of data about how page speed impacts eCommerce conversion rates specifically. Amazon’s study on how even milliseconds of latency affects revenue is probably the most cited example. Every 100 ms of latency costs the company 1% in sales, they claimed.
Portent conducted a study on page speed that revealed some interesting insights for eCommerce store owners. They found that the highest eCommerce conversion rates occur at a page load speed of 0-2 seconds.
When it comes to page load time, some pages are naturally more important than others. The most important ones include the homepage, checkout, product, category, and login pages. Any page where you receive a lot of traffic, you should prioritize optimizing.
3. Simplify navigation on your store
All the best eCommerce stores are flat and extremely easy to navigate. ‘Flat’ means having as few layers as possible to your site design – everything on your site should be accessible within three clicks of the homepage. More importantly, you also want to make it as simple as possible for site visitors to get from the core landing pages to the product pages and checkout page so that making a purchase is as seamless as possible.
Just like longer page load times cause shoppers to walk away from your store, a labyrinthine site design also tends to frustrate them, leading to drop-offs. There are numerous ways to optimize your menu to improve eCommerce site navigation. You could start by including breadcrumbs, simplifying the options on the menu, prioritizing elements, and so on. The ideal solution will be specific to your eCommerce store.
Let’s understand the same with the example of Slideshop. After thoroughly analyzing their data, the teams discovered that shoppers weren’t clicking on the subcategory. To improve usability, they ran an A/B test on the side menu to create a better flow from categories to subcategories. They got rid of the promotional right sidebar and introduced a left navigation bar. Here’s a look at the control and variation from the test:
The variant with the navigation menu on the left increased the add to cart clicks by 34%. The case study stands testament to the fact that smooth navigation is closely linked to increased sales for any eCommerce store. – Read more
This eCommerce conversion rate guide brings you tips on generating more sales from the visitors on your site.
How is eCommerce conversion measured?
An eCommerce conversion is a site visitor turned into a customer. Attempts to increase your eCommerce conversions are generally focused on the product page or pages and the checkout process.
Take, for instance, a site that gets 1,000 visitors and makes 20 sales. Your calculation would be (20 / 1,000) x 100. That produces a resulting eCommerce conversion rate of 2%. While knowing your site’s conversion rate is important, understanding it is critical.
The idea of measuring average conversion rates for your site is an excellent place to start with.
Conversion benchmarks by sector
Millions of online stores that operate globally are spread across a plethora of sectors, offering a variety of products and services. However, conversion rates vary by industry. A study  by Littledata found the global average to be 1.4% across various industries and devices. However, you must dig a little deeper to genuinely understand your site performance.
It’s imperative to keep track of your industry’s performance and update yourself. You can do so by understanding how eCommerce conversion rate benchmarks stack up within your industry. This information is available online.
IRP Commerce provides a kind of one-stop-shop for eCommerce market data . You can find the average eCommerce conversion rates by industry here. For instance, you could use the site to find that the average rate for sports and recreation stores, as of March 2020, is 1.42% . You can find similar information for a wide range of sectors.
Finding a benchmark for your sector is critical, as it helps you optimize your sales funnel to drive more conversions.
How to improve your eCommerce conversion rate
They say that acknowledging a problem is the first step towards solving it. If you’ve discovered your conversion rate, you’ve already taken that first stride. You’ve identified that eCommerce A/B testing could be a part of the solution. In the following section, you will find six components in your existing optimization strategy that you can tweak to optimize your conversion rates.
User flow and UI
User flow defines the visitor’s journey on your website as they accomplish a task. Don’t make your prospects struggle on your web page to do so.
You can start optimizing the user flow as the first step in your eCommerce conversions optimization efforts. In the case of eCommerce websites, a user journey can have multiple steps before they make an actual purchase. These steps can be termed as micro conversions, which can include signing up for your website, adding a product to cart, clicking on a discount link, etc.
Micro conversions should direct the user towards the main conversion, that is, a purchase. This journey has to be as seamless as possible and avoid any friction that might result in visitor’s expulsion from the sales funnel. – Read more
People don’t just randomly buy whatever they see or like.
There’s a process we all go through before we swipe our credit card or click the “order now” button.
Sometimes it takes days, weeks, or months for us to make these decisions. Other times it’s the exact opposite. We make up our mind almost in an instant.
There are many reasons for why this happens but the bottom line is – this decision-making process exists and as a smart entrepreneur or marketer, you need to understand how it works.
Only this way you can meet your audience at different stages of their decision-making process with the right offer and marketing message.
And a sales funnel template can help you map out the most probable path your audience will go through before turning into paying customers.
Author’s note: If you’re looking for a solution that’ll help you automatically build your sales funnel from scratch and help you increase sales, check out the GetResponse Conversion Funnel here.
Now, what is a sales funnel template?
By now, you’ve probably figured the definition yourself:
A sales funnel template is a design of a consumer’s journey to becoming a customer and what happens after they do.
Think of it as a whiteboard where you completely map out, in drawing, your potential customer’s journey — from when they’re thinking about something they need to the point where they eventually find your business.
Your customer journey could look something like this:
First your prospect identifies a need – “I need a pair of shoes”
They go onto Instagram to search for inspiration
They type their search term in the search bar
After browsing through different shoes and designs they find something interesting
Eventually, they find something promising and visit the vendor’s website
They add their new favorite product to the shopping cart and check out
And sometimes, the customer journey is a lot more complex than what we’ve shown in this illustration, but this is basically how it works.
So what your sales funnel template does it helps your business show up at every step of the customer’s journey leading up to when they finally make a purchase (more on this in the “seven steps” section below).
Now that we’ve cleared the air on what exactly a sales funnel template is, let’s look at a seven-step sales funnel template you can use for your business.
And what type of business is this template for?
It doesn’t matter if you’re selling digital products like ebooks or online courses. Or you’re a professional doing online consulting and coaching. Heck, even if you’re selling a service that’s delivered offline, like self-defense classes.
This sales funnel template will help you generate more leads and sales for your business.
The 7-step sales funnel template
Regardless of the nature of your business, consumers would often go through these seven (or similar) steps before they become paying customers:
So the image you see above is the exact sales funnel template you need.
In fact, if it’s the only sales funnel you’re working with, it can single-handedly take your business to whatever level of growth you want it.
But of course, you first need to know how it works.
So we’ll explain each funnel stage we identified in the above illustration.
Step 1. Generate targeted traffic
Generally, the more traffic you get, the more sales you get.
But you probably know this already: it’s not that simple. Because it’s possible you generate thousands of visitors to your site or online store but never convert any of them into customers.
But that’s bad traffic, and you don’t need it; it never converts to sales.
Instead, here’s what you need: targeted traffic. Targeted traffic is site visitors who are most likely interested in your product or service and would be interested in buying it.
To get these types of visitors, you need to know where your target customers frequent every day — like the online communities and groups they belong to, search engines they use (and keywords they search with), and influencers they follow.
Then you’ll go to those places and give them a good reason to visit your site; “giving them a good reason to visit” means you’ll need to provide them with a free valuable resource (e.g. ebook, case study, webinar) they can get on your site.
You can call this a lead magnet. An incentive your target audience is ready to trade their email address for.
Once they land on your site, your sales funnel is already in motion. And this is where step two comes in.
Step 2. Send traffic to a SPECIFIC high-converting landing page
You may already be aware of what a landing page is, but if you’re not sure: it’s a page that you specifically design to convert visitors into leads or customers.
But one major mistake that ruins sales at this point is sending your visitors to a generic web page, like your homepage or some other “non-landing page.”
Your homepage (or any other non-landing page) is simply not designed to send visitors to the next stage of their buying journey.
So what would happen is they’ll land on the page and keep looking around — because a non-landing page is not focused on a SPECIFIC TOPIC. It often links to several other pages like your product/service page, about page, blog page, contact us page, etc. as shown below:
And there’s nothing wrong with having a homepage; it’s just not designed to help you convert as many visitors as a specific landing page into leads.
A landing page, on the other hand, focuses on a single topic and its goal is to speak to your visitors and persuade them to accept a SPECIFIC OFFER; so it looks something like this:
When you send visitors to a landing page like this, they know what it’s for and the page helps their minds to focus on thinking about one thing only: your offer.
The only two options they have here is to either a) sign up for your offer and give you their email address, or b) exit your squeeze page.
And this is exactly what you want to do in your lead generation strategy.
(By the way, this is only a landing page example, your landing page can be longer if it needs to be so you can effectively persuade your visitors to convert. Here you’ll find some great landing page examples that’ll explain this better)
Step 3. Convert visitors into subscribers & leads
Now, it’s one thing to send visitors to a landing page…
It’s another thing entirely to convert those visitors into subscribers and leads.
When people get on your page, they’re immediately thinking…
“Is this offer worth my time?”
“Should I sign up because I really need this stuff?”
“Or should I just leave?”
They’ll do one of these and you can influence (and speed up) their decision by what you have on the squeeze page – especially your headline, body copy, and calls to action (CTAs). You need to make sure these three landing page elements convey strong reasons why they need to sign up for your offer. – Read more
Getting visitors to your website can be challenging and expensive, so it is important that your site is optimised to convert as many of them as it can into customers. In this post, we’ll explain what conversions rates are, why they are important and how you can optimise your website to increase your rates and revenue.
Conversion rates explained
Conversion rates are not difficult to understand, but they are a crucial metric that lets you see how well your website is performing. Basically, a conversion rate is the percentage of your visitors who carry out an action that you want them to take. A website could have several conversion rates that it monitors, such as the per cent of visitors who buy products, subscribe to marketing emails, become members and so forth. Finding out what the conversion rate is for each of these actions can help you discover ways to improve them and increase overall sales.
Calculating a conversion rate is fairly straightforward. You simply divide the number of conversions by the total number of website (or web page) visitors and multiply this by 100. So, if 2000 people view your email sign up form and 50 sign up, your conversion rate is
(50 / 2000) x 100 = 2.5%
Ways to improve conversion rates
There are many things that websites do to drive their conversion rates upwards. Here are some of the most used and proven techniques.
A/B split testing
Sometimes, small changes can have a big effect on conversion rates, such as changing the colour of a call to action button, rephrasing a headline or showing a different image. Netflix, for example, has learnt that different movie images appeal to different people, so the images customers see advertising a movie will have been specially chosen to appeal to them.
The common way to test what works well and what doesn’t is to use A/B split testing. This allows two different versions of your web page (A & B) to be served randomly to different users. If one of these has better conversion rates than the other, you can ditch the poorly performing page in favour of the one which performs best. By constantly thinking up new ideas and split testing them, you can always work towards driving the conversion rate higher.
Some split testing tools are more advanced. They can use other data, like browsing histories, and add this to the mix. Like with the Netflix example above, this may tell you that one version of your page performs best with one group of visitors while a different version is better at converting others. This way, you can personalise your content to optimise conversion rates even more.
Remove conversion barriers
If the aim of your website is to fulfil your conversion goals, then you need to remove any distractions or obstacles that delay, prevent or put the visitor off taking the action you want. You can do this by removing any unnecessary content from pages, improving navigation so that finding content is easy, making it clear what your calls to action are and how to take them and streamlining the actions that need to be taken. This latter point is particularly important: if your user has to visit several pages and fill in a lot of information to buy a product, some of them are going to abandon your site in the process. The quicker and easier you make it, the more conversions you will make.
Make use of live chat
The use of live chat has increased dramatically over the last few years and for good reason, it has been shown to have an important effect on improving conversion rates. Its main use is that it enables visitors to ask questions there and then about products and services; helping them find information that’s either not on your site or that they have been unable to find. As this is given to them while they are still visiting your site, they remain potential customers during the conversation and, if happy with the answers and the quality of the chat, are much more likely to make a purchase. The simple fact that visitors use live chat means they are already thinking about purchasing, helping them at this point, before they look for answers on competitor sites, can be very beneficial.
What’s more, by deploying AI chatbots to operate your live chat, you don’t need a human to do the work for you and the facility can remain online 24/7. – Read more
What comes to mind when you think of Artificial Intelligence (AI)? Maybe you think of robots taking over the world, like in the movies, or self-driving cars. Merriam-Webster defines artificial intelligence as 1) a branch of computer science dealing with the simulation of intelligent behavior in computers and 2) the capability of a machine to imitate intelligent human behavior.
Did you know that AI is gradually changing the way consumers shop at various stages of the buyer’s journey?
In subtle ways, artificial intelligence affects the way a potential buyer searches for product or brand information during the awareness stage.
Artificial Intelligence, Algorithms, and Awareness
It’s been well documented that people turn to social media platforms like Instagram and Pinterest for visual inspiration and product research. We know that algorithms (a type of AI) will drive what posts are surfaced to a user. Your Instagram feed is not just based on who you follow but rather it’s based on what you like and comment on. The more engagement a Pinner or Instagram user has with a post, then the visibility of that brand or product increases and the higher it will appear in your feed.
Additionally, with the advent of Checkout on Instagram, as well as a Pinterest shopping program, retailers can jump on board these new marketplaces. By opting into these platforms, businesses can expand their reach and gain new customers.
AI and eCommerce
Marketplaces like Google Shopping and Amazon track users’ web browsing behavior and past search history. AI is used to detect shopping patterns and purchasing behavior by tracking how much time you spend on each page, what links you are clicking and what products you are hovering over. In turn, this data is used to give consumers personalized product recommendations, whether it’s in the form of dynamic product ads, custom emails with product coupons, or targeted messages containing personalized bestseller lists.
It’s these multiple touchpoints that can encourage a user to move forward from the consideration stage to making a decision. We’ve seen that when offering personalized content to consumers, it increases the chances of a sale.
The quickest way to justify an investment into AI is that it improves and speeds up listing products on different advertising channels. One of the most resource-intensive and tricky aspects of eCommerce is product categorization. Results show an intelligent and experienced human will achieve an accuracy rate below 90%. This is significantly higher than Google’s approach which tests have shown to be below 70%.
However, this has changed with some incredible breakthroughs in product classification with Artificial Intelligence, achieving accuracy rates above 95%.
For businesses looking to automate tasks related to customer service, consider an investment in chatbots. The use of chatbots is becoming more commonplace among eCommerce businesses. According to Invesp, it can help businesses save on customer service costs by speeding up response times and answering up to 80% of routine questions.
Chatbots can resolve customer issues and give insight into what customers are looking for at that moment in time. Furthermore, retailers can take the data collected from those chatbot inquiries and use it to craft custom messages for future use. – Read more