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E-commerce businesses constantly look for ways to grow. Among smaller ventures, inefficiency is one of the biggest obstacles preventing scaling, so more businesses turn to eCommerce automation. Small and repetitive tasks consume many resources, complicating the business processes. Managing orders, customer support, and other tasks manually is hardly a winning strategy. Meanwhile, implementing and utilizing automation solutions creates a self-fulfilling and streamlined workflow. What Is eCommerce Automation and How Does It Work? E-commerce automation can be defined as using available software to convert manual tasks into automated tasks. Developers invest in eCommerce automation software to optimize various aspects of an online store. Different software provides different task automation, and it’s up to the business to decide what processes it wishes to prioritize. What Types of Tasks Can Be Automated in an eCommerce Setting? As expected, there are multiple tasks eCommerce businesses can automate. Let’s look at some of the most common and valuable examples. 1. E-commerce Order Fulfillment E-commerce fulfillment automation is one of the most crucial eCommerce business processes. Online stores inform customers about new products, back-in-stock goods, or incoming deliveries by triggering emails or text messages. Specialized tools also simplify warehouse processes to streamline the supply chain. The solution ultimately improves shipping orders and leaves less room for potential errors, thus improving the eCommerce order fulfillment process. Additionally, third-party order fulfillment solutions can provide businesses with scalable and flexible fulfillment options, ensuring they can meet customer demands efficiently. These solutions often include advanced inventory management and shipping capabilities, enhancing the overall customer experience. 2. Accounting Accounting is another instance where automation comes in handy. Accounting invoicing and reconciliation take a load off the accounting department’s shoulders. In addition, the tool integration enables automatic expense tracking if a business has inventory and shipping software compatible with the accounting automation system. 3. Customer Support A constant stream of incoming customer queries puts a toll on the people working in customer support. The purpose of customer support automation software is to: 4. Security Considering the volume of cybersecurity threats in eCommerce, it makes sense to implement as many protective measures as possible. Automating high-risk order identification is one possibility. Whenever someone submits an order from a suspicious location or uses credentials that don’t match (credit card details and delivery address), the order gets flagged automatically. The team managing and tracking orders then receives and deals with the message. Such a system is more efficient than having to check every order manually. 5. Marketing The marketing department has multiple opportunities to make things easier for themselves with the help of automation tools. Some of the best examples include: Benefits of eCommerce Automation The main purpose of eCommerce automation is to improve the overall business process efficiency. Having said that, there are layers to how eCommerce businesses benefit from automation. 1. Boosted Customer Satisfaction Automation tools enable businesses to function 24/7. Customers don’t have to wait for a response. A satisfied customer connects with the brand and is more likely to return and produce word-of-mouth marketing. 2. Accurate Inventory Management Inventory receives regular and immediate updates as soon as the system receives new orders. Customers see live information and know whether an item is available or not. 3. Manual Data Entry Elimination Thanks to automation, businesses no longer have to waste resources for manual data entry. The time spent on entering numbers and other information can be spent on other, more important tasks. 4. Improved Accuracy Automation tools reduce errors that occur due to fatigue, distractions, multitasking, and other factors. Most processes still require human intervention, but automation makes it much easier to handle redundant tasks and improves accuracy. Who Benefits from eCommerce Automation Tools? An online store benefits from automation as a whole, but so do individual departments. 5 Tips to Start With eCommerce Automation If you don’t know how to automate eCommerce website, here are a few valuable tips that should point you in the right direction. 1. Identify Key Business Areas That Require Automation Assess your current business processes and determine areas that would benefit the most from automation. In the case of small businesses, automating everything might be impossible due to limited resources. It’s for the best to identify which manual tasks consume the most time and lead to errors. During the initial intake meeting, stakeholders can discuss and prioritize these tasks for efficient automation implementation. 2. Define Your Goals Implementing eCommerce automation successfully is hard without clear objectives. A business has to determine its aims. The goals range from efficiency by eliminating redundant manual tasks to boosting sales. A set of clear objectives is a guiding principle, giving a sense of direction for the automation efforts. 3. Choose the Right Tools Given the magnitude of eCommerce, it should not be surprising that there are so many different automation tools. Do your research and determine tools that suit your business the most. Look for recommendations and reviews and maximize opportunities to try software via free trials before spending money. 4. Track the Results of Automation Solutions It takes a while before you see the automation results, but they should show up sooner rather than later. Keep an eye on automated business processes to determine whether the solution adds real value. After all, you don’t want to continue wasting money on software that fails to meet your expectations. 5. Make Adjustments Where Necessary Don’t settle for the first option. By tracking the results, make adjustments and look for alternatives if they are there. Finally, once you can afford to add more automation solutions, do it to improve your eCommerce business operations even further. Automating Custom Order Fulfillment With Zakeke E-commerce automation wouldn’t exist without excellent automation solutions. Zakeke is a perfect example of an automation solution that can take your eCommerce business to another level. Zakeke stands as your ultimate choice for Visual Commerce. Picture this: your customers have the power to customize, view in stunning 3D, AR, and virtually try on your offerings before making a purchase online. Isn’t this the
The world is more connected and digitally equipped, thanks to the rapid digital transformation. In the growing digital age, eCommerce continues to grow with some exciting eCommerce growth trends. According to Statista, the online shopping market will see significant growth in yearly revenue, and that’s forecast to be worth $4.18 trillion in 2024 in various categories. The eCommerce market and industry are constantly evolving, and the best part is that it has positive growth, increased revenue, and higher per-user spending. Source: Statista With each passing year, the new-age shoppers are setting expectations and demand higher, as well as increasing the average revenue per user. In fact, the average revenue per user will also experience a spike in the coming year, 2024, as forecasted in a study by Statista. eCommerce brands know that today, customers have the liberty to shop anywhere, at any time, right from their smartphones. If done right, businesses know that the future of eCommerce is here with the exponential demand for online shopping sites and applications. eCommerce businesses must exceed customer expectations to get ahead in the competitive space and stand any chance of demanding customers’ attention. But how? What are the upcoming eCommerce trends? eCommerce trends help global businesses to stay ahead in an eCommerce growth curve and find room to boom. Let’s understand eCommerce trends in 2024 as we head into 2024 after this festival season. 1. Augmented Reality (AR) for eCommerce The rapid growth of eCommerce showcases a significant change in how people shop. Unlike the traditional in-store shopping experiences, eCommerce shopping faces a common challenge while decision making (or preciously informed decision making) for usual hiccups in gaining traction to digital products into the real world. Augmented Reality (AR), an advanced technology that blurs the line between digital and real, enables shoppers to see the real aspect of digital products by placing digital images of products to give an illusion of real-life experience in a more immersive and interactive way possible. Customers can virtually try on outfits or visualize furniture in their home interiors and make informed decisions. Technologies like Augmented Reality (AR) are shortening the consumer decision-making process and enabling faster conversion rates. The trend is surely going to mature with time and help people with better shopping experiences. 2. Voice Commerce for online shopping 2024 will bring one of the most exciting upcoming e-commerce trends when customers do shopping using voice commands from their smart devices that are interpreted by Natural Language Processing (NLP) technology to carry out instructions or appropriate actions. Though it is still in the very early stage of becoming a sophisticated way of shopping, many eCommerce brands have started investing in it. It could be similar to voice search or via virtual assistants like Amazon’s Alexa, Google Home, or Apple’s Siri. It could be a convenient way of online shopping without using your hands. 3. Personalized experience in eCommerce Brand loyalty, better connection, and greater retention are the by-products when eCommerce brands go deeper with customer connections. Customers are predominantly looking for personalized experiences, and for this experience, they are prepared to share their demographics and data to dig deeper. Personalized experiences will dominate the eCommerce growth trends. A personalized experience can elevate the customer experience (CX) multifold, unlike a “one-size-fits-all’ strategy. eCommerce applications require a flexible technology with minimal total cost of ownership (TCO) to accommodate personalized offerings. Thanks to customer insights and advanced eCommerce technologies like GraphQL Readability, there are multiple tools in the market that help with personalization at every stage and channel. The advanced tools designed to support eCommerce personalization through the online store are many. They bring the capability to add or elevate extensive features into an eStore without changing the entire application with zero or minimal downtime. An accurate example is Zakeke’s Product Customizer: the easiest tool to start offering product customization in seconds, without any IT or design skills. Another example for the Magento store owners is the MageDelight Magento 2 – Price per Customer extension. It allows personalized discounts and lucrative pricing for customers and enables eCommerce stores to gain loyalty and strategically increase customer spending. Through tools and extensions like these ones, you can take your personalization game to the next level. 4. Pricing pressure model for eCommerce Open eCommerce is a challenge for brands when customers can check prices, compare them, and then switch to the best pricing, even for a slight margin in the pricing model. The pressure toward competitive pricing is even greater when pricing changes faster than ever. To outperform the competition, an eCommerce platform needs to offer individual experiences, special offers, and dynamic bundle products in no time before customers switch to another site. eCommerce brands need flexible, scalable, and highly customizable solutions to handle the dynamic pricing model for customer profiling and interest. The fast-food chain brand McDonald’s uses customer psychology and decoy pricing to influence customer decision-making. It offers them a lucrative price just below the highest priced product for comparison for quick buying in bundle offers. eCommerce brands can use this strategy in their stores and offer such dynamic pricing for individual customers. Via customer segmentation and buyer persona analysis, hyper-personalization is possible with tools that allow custom pricing for different customer groups. 5. Predictive Analytics for eCommerce The idea of preparing well in advance is something an eCommerce business needs no introduction. The festival season always brings a surge in new visitors, higher average customer value (ACV), and increased sales. Are you ready for eCommerce holiday shopping? Yes, this question always haunts eCommerce brands and, of course, puts doubt over their readiness. Predictive analysis with the help of customer data, industry insights, and technology experts can only save your eCommerce. Predictive analysis uses machine learning to forecast future demands, trends, and customer buying behavior to sell more without disruption. eCommerce businesses must recognize this trend in 2024. 6. Customer data privacy for eCommerce It is true that, on one hand, customers are actively looking for a hyper-personalized shopping experience from their
The retail industry has undergone drastic changes in recent decades, and one of the most exciting new trends is the emergence of metaverse retail. As technology continues to advance at unprecedented rates, more consumers are gravitating toward virtual reality and other digitally immersive experiences, which is having a profound effect on the retail market and the retail economy at large. In general terms, metaverse retail refers to the practice of creating a virtual shopping experience that simulates the look or “feels” of real-world stores. Some popular metaverse examples include the Gucci metaverse, which allows customers to browse and procure virtual versions of the fashion brand’s products, and the Walmart metaverse, which offers a more traditional retail shopping experience in a virtual reality environment. These retail industry trends are expected to continue and evolve, as more brands look to create their own fashion metaverse or metaverse store to engage with customers. In truth, many retail blog websites are already exploring the potential of the metaverse as a new frontier for retail shopping. As more companies and brands dip their toes into the metaverse market, the metaverse shopping mall will likely become a major feature in future retail stores. And as these brands in the metaverse continue to innovate and push the boundaries of what’s possible, who can say for sure what’s in store for the future of retail stores? Understanding the Metaverse The term “metaverse” describes a virtual realm populated by millions of users and their avatars. The metaverse is a shared space that is completely immersive, interactive, and user-generated. In recent years, several companies have set up shop within the metaverse, so to speak, as a way of providing additional methods for shoppers to browse and purchase goods. Nowadays, the metaverse is a way for retailers to connect with their customers from all over the world and provide them with a truly unique and engaging shopping experience. Metaverse shoppers have the chance to browse a virtual store, interact with products and make purchases in a highly immersive and interactive way. And all of this can be accomplished with only some basic Virtual Reality (VR) or Augmented Reality (AR) equipment. One of the key advantages of the metaverse in retail shopping is that it enables companies to provide a highly personalized experience. In addition to creating their own avatars, shoppers can navigate the meta mall at their own pace, interact with other shoppers, get feedback and recommendations from virtual sales assistants, and even share their shopping experiences on social media or with other metaverse users. The Metaverse’s Impact on the Retail Industry The metaverse has already had a significant impact on the retail industry and it is widely expected by many to continue to revolutionize the way consumers shop as more brands explore the potential of virtual shopping experiences. These retail trends in 2023 are driven primarily by increasing demand for personalized, immersive shopping experiences for consumers. The metaverse provides retailers with a unique opportunity to engage with customers in new and exciting ways that are not available in traditional retail channels. As a result, the metaverse market size 2030 estimates indicate that the industry is projected to reach $1 trillion. And as more brands funnel into the metaverse and other digital landscapes, consumers are likely to see more and more virtual shopping malls, where customers can browse a variety of stores and make purchases in ways they simply cannot through traditional methods. Companies that are quick to adapt to these new trends and possibilities will likely be more able to provide customers with new, engaging shopping experiences (while simultaneously increasing revenue streams and their market share). Ultimately, consumers can expect that the metaverse will revolutionize the way people shop and experience retail for many years to come. Summary of the Future of Metaverse Retail With the major shift towards more virtual shopping experiences, both consumers and businesses are having to adapt to new ways of shopping and selling products. Consumers, on the one hand, are increasingly seeking out personalized and immersive shopping experiences. Within the metaverse, shoppers can check out digital products and get a real feel for what they are buying, even though they’re not physically present in a retail store. Consumers are also getting used to being able to share their experiences in the virtual world and chat with other metaverse users about online retail. On the other hand, businesses are having to adapt to the metaverse by designing virtual stores and enhancing their online presence. Real-world obstacles to store design do not necessarily apply to digital applications, so businesses must find ways to make the most of their digital space. One of the major challenges businesses face in this new digital frontier is simply understanding the technologies and infrastructures involved in supporting metaverse applications. This can be a time-consuming and costly process, as the skills to efficiently leverage these technologies are still relatively new. Another challenge many businesses face is ensuring that the virtual shopping experience in metaverse retail is accessible to everyone, regardless of their location or physical abilities. This means businesses must invest in developing accessible technologies that can support a wide range of devices to provide a seamless, pleasant experience for all users. The rise of metaverse retail is ushering in numerous significant changes in consumer behavior, business operations, and the retail industry as a whole. While there are certainly obstacles and challenges associated with implementing this new technology, the potential benefits are astronomical – and not yet fully understood. As more businesses invest in the metaverse, consumers can expect to see a greater shift towards more personalized and immersive shopping experiences that forever transform how the retail industry operates.
The digital world is a competitive arena for businesses. To succeed, you need to find ways that will allow you to stand out against the competition and get prospective customers to notice your brand. There are many ways to achieve this. You can use various digital marketing strategies to reach out to your target audience and get them interested in what you have to offer. Some of the strategies you can try are search engine optimization (SEO), social media marketing, email marketing, and pay-per-click (PPC). But one of the best ways to catch the attention of your prospective customers is through visual content marketing. What is Visual Content? Visual content is a form of online content that uses images, videos, or infographics to convey valuable information in an engaging format. It is one of the most effective methods to increase customer engagement because it is highly shareable and can be easily understood by anyone who sees it. How Visual Content Affects Your Audience’s Engagement There are many ways in which visual content and customer engagement are related. Here are some of the most important ways visual content influences the latter: In a world where users are bombarded with information, it’s important to make sure that your target audience isn’t overwhelmed with text-based data. Although using text is the most effective way of providing your audience with valuable information, you need to attract users to read your content. The best way to do this is to use appealing visuals. Adding visual content to your web pages will make them look less boring. Filling your web pages with blocks of text can overwhelm some users and even cause them to leave your site. By breaking up big blocks of texts with visual content, you can grab the attention of your target audience and entice them to stay on your page longer. Visual content also provides you with more room for uniqueness and creativity. This then makes your web pages more eye-catching to users, ultimately influencing their decision to engage with your content. Stock photos are designed to be generic, which is why they might not be the best choice when trying to engage your target audience. The problem with stock photos is that they can come across as inauthentic and make your brand look like it’s trying too hard to be something it’s not. Although it’s easier to search for stock photos online instead of creating your own visual content, it’s best to avoid using them or at least use them sparingly. You should instead invest in creating original visual content to set your brand apart from your competitors. Doing so will also make your target audience see your brand as more authentic and trustworthy. Creating visual content for your website can make it look more consistent and coherent for your target audience. This is because using visuals can help tie all the different elements on your page together, making it look more put-together. It’s important to ensure that the visual elements you use are relevant to the context of your webpage. For example, using photos related to the text on your page can help create a more cohesive design. This will make users more comfortable scrolling through your web pages and engaging with your content. To ensure consistency and coherence across your website, ensure that your visual content only uses at most three typefaces. It would also be beneficial to stick to a minimal color palette and use the same illustration style when creating visual content for your digital ads, web pages, and social media posts for business promotion. Doing so will give your website a more professional look and feel. One of the advantages of using visual content is that it can make complex information more digestible for your target audience. This is because visuals can help break down data and simplify it for users. Additionally, studies have shown that individuals can process information presented in visual content 60,000 times faster than text-based content. Visual content also helps your target audience become more engaged with your brand because most users only read 20% of text-based content that exceeds 593 words. However, when this same content is delivered in visual form, users are more likely to read it. This means that if you want your target audience to fully engage with the content on your website, you need to use visuals to make the information more digestible. Tap into your target audience’s emotions and encourage them to engage with your brand by creating visual content that resonates with their needs and preferences. To achieve this, you need to use the right color tools and create the right message that will help them understand your brand more deeply. Some colors tend to evoke certain emotions in people. For example, the color blue is often associated with feelings of trust and reliability, while the color red is often associated with feelings of energy and excitement. You need to use these colors strategically in your visual content and customer engagement strategy to help drive the right emotions in your target audience and entice them to engage. Creating great visual content can also help you encourage your prospective customers to take actions that will benefit your brand. When you partner this with a well-thought-out call to action, you can increase the likelihood of getting your target audience to do what you want them to. This may either be subscribing to your newsletter, following your brand on social media, or making a purchase. After catching the attention of your target audience, you need to keep them interested in what you can offer and continue enticing them to engage with your brand. This is important to avoid losing your prospective customers to your competitors and having them forget about your business. To keep your target audience hooked, you need to create visual content that’s not only relevant and helpful but also visually appealing. This means using high-quality photos, videos, and graphics that are pleasing to look
Did you know that 55% of consumers say they’d stop buying from an online store due to poor Customer Experience? As competition in the online marketplace grows fiercer by the day, you must provide exceptional Customer Experience (CX) to win new clients and retain your existing customers. Forward-thinking CX leaders are achieving significant revenue growth by creating memorable experiences and catering to their customers’ needs. And you can do it too! But what exactly is Customer Experience? And why is it important for ecommerce businesses? Most importantly, how can you build a memorable ecommerce Customer Experience? Keep reading to find out. What is eCommerce Customer Experience? Customer Experience is your customers’ holistic perception of your brand based on their interactions with it. Simply put, CX is how you make your customers feel. In ecommerce, Customer Experience revolves around the online experience that anyone finding your website or landing pages go through. It encompasses every touchpoint customers have with your brand – from the moment they land on your site to their interaction with the products and sales staff to the checkout and post-purchase experience. Why does ecommerce Customer Experience matter? When you give your customers a great experience, they’ll buy from you again, be loyal to your brand, and become your brand advocates. They’ll share their experiences with their family, friends, and colleagues online and offline, increasing your brand reputation and creating Brand Awareness. As a result, you’ll see improvements in: Studies show that companies with superior ecommerce Customer Experience generate 5.7x more revenue than competitors that don’t invest in their CX. How to improve ecommerce Customer Experience? 10 tips Without further ado, here are the different ways to improve your ecommerce Customer Experience. The first step in improving your ecommerce Customer Experience is to understand your customers. What does your ideal customer look like? What do they like? When do they shop? What challenges are they facing? How can you meet their needs and expectations? You can conduct in-depth customer surveys to identify their needs and preferences, then create customer personas that will help you understand their expectations. It’s backed by data — companies that provide a streamlined shopping experience are 62% more likely to win a sale. Here’s how you can simplify the buying process: Since consumers are buying your products online, they’ll want exceptional customer support. This can easily be achieved by offering multiple channels for customer support, like live chats, phone, email, forums, and even social media. Every ecommerce owner knows the importance of building trust and credibility for their online businesses. It helps establish the business as legit and reliable. Here are the various ways to build trust and credibility for your brand: An exceptional customer experience (CX) doesn’t end once the customer completes the purchase. It goes way beyond the checkout, ensuring goods are delivered on time and in excellent condition. Here are the various ways you can improve the post-purchase experience: Technology has revolutionized every aspect of our lives, including our shopping experiences. There are many ways you could use technology to improve CX. For instance, you could use AI and machine learning to improve product recommendations. You could also implement Augmented Reality solutions to allow your customers to try on products before they buy and visualize how certain products will look in their homes. Customers want more from brands they interact with online. Building a community gives them a place they can hang out, share community service ideas, and voice their opinions and concerns. Community members are advocates of your products and services. Social media is the most powerful channel to build a community since most of your fans and loyal customers have active accounts on these platforms. Nothing can be more frustrating than finding a quality product only to realize your payment method isn’t supported. To improve the ecommerce Customer Experience, it’s highly recommended that you make the checkout process easier by providing multiple payment options. Beyond PayPal and Card payments, you can go the extra mile to include digital wallet payments, like Apple Pay, Samsung Pay, and Crypto payments. Your website can either make or break your business. To succeed in the ever-competitive e-commerce world, a user-friendly website is a must-have. What do we mean by user-friendly? The website must be responsive and easy to navigate and search, with advanced filter options. Most importantly, it must be fast. As research has shown, a slow website will chase visitors away. As mentioned, forward-thinking ecommerce owners are using Augmented Reality to increase their users’ experiences. But it doesn’t end here: the next step to improve your ecommerce experience is Product Customization! You can give customers the ability to create their own products, choose colors, materials, and details… What could be better to meet their expectations? Get started with Product Customization Personalization is a key element of the ecommerce CX. An overwhelming 80% of customers say they’re more likely to do business with a company that offers personalized experiences. What are the benefits of product personalization in ecommerce? It increases user engagement, which often leads to an increase in sales. If you have a product customizer in your store, your customers will spend more time engaging with your website. The result? Increased Customer Satisfaction! They can personalize any product while seeing a live preview, so they’ll play around with it and try out different options to see which one works for them before buying. Offer them a fun shopping experience, and they’ll surely come back for more. How do you get started with product customization in your store? By simply investing in a software solution designed for product customizations! Zakeke Visual Customizer allows customers to customize any product (clothing, jewellery, shoes, watches, custom gifts, etc.) and visualize its appearance before buying. Ready to get started with product customization? Our product customizer integrates well with all major e-commerce platforms and is easy to use for both the customer and the merchant. Contact us today and take advantage of our 14-day free trial.
The success of any eCommerce business depends on its ability to convert visitors into customers. You can significantly increase your average conversion rate and maximize sales with the right strategies and tactics. There are many strategies for boosting your ecommerce average conversion rate. Today we want to focus our attention on product customization – Did you know that by allowing your customers to customize their products according to their needs, you can create a unique customer experience that drives them down the purchase funnel faster? Let’s dive in to discover how to increase your average eCommerce conversion rate with customization (but not only!) and what steps you should take to get the best results from your store. What is the average conversion rate for ecommerce? The ecommerce conversion rate is the percentage of visitors to your online store who take a desired action, such as purchasing a product. Understanding an optimal conversion rate and how it compares to your own can help ecommerce sites by guiding them on where they need to improve and where they may currently be lacking in their ecommerce processes. But making an action doesn’t mean only purchase a product. Let’s find out what are the other typical conversions in an ecommerce store: If you’re wondering how to reach a good conversion rate for e-commerce, maybe you have to think about optimizing all these metrics. Let’s find out how! Why is conversion rate optimization important? Achieving a normal conversion rate for ecommerce is crucial for any business seeking to increase its digital sales and reach more customers: Ultimately, increasing one’s ecommerce conversion rates requires active effort, but when done right leads to increased profitability for online retailers who take advantage of this powerful metric for growth purposes. How is the ecommerce conversion rate calculated? The formula for calculating the ecommerce conversion rate is relatively simple: (Number of Conversions / Total visitors) X 100 For example, if you had 1000 visitors and 25 sales, then your conversion rate would be 2.5%. This percentage indicates how many people have completed a desired action (in this case, making a purchase) on your website compared to the total amount of traffic you’ve received. The advice is to constantly monitor your average ecommerce conversion rate to understand the performance of your store. How can you do it? You could monitor the conversion rate on a weekly, monthly, or quarterly basis, adjusting and adapting your strategies based on the results. Ecommerce conversion rate benchmarks An essential aspect of tracking the average e-commerce conversion rate is understanding what constitutes an optimal rate for online stores. Generally speaking, the average e-commerce conversion rates for ecommerce are around 2.5-3%. Of course, many factors go into a higher or lower rate, but typically if you find yourself at 3% or above, you are ready to tackle more advanced conversion rate tactics. While there is no single “right” answer when it comes to measuring success concerning ecommerce performance metrics, having benchmarks explicitly related to your industry can offer valuable insights into how well (or not so well) you are doing compared with competitors in terms of attracting new customers and increasing sales on your website or app store platform(s). Average ecommerce conversion rate per Industry If you are looking for a benchmark to measure the performance of your ecommerce, here are some good conversion rates according to the analysis by Dynamic Yeld: And more, here is an infographic from TIDIO’s study with the average conversion rate across industries in Q4, 2022: Additional metrics to measure e-commerce conversions In addition to examining industry standards, several other key metrics should be tracked to gain a deeper insight into customer behaviour and preferences. These include: The bounce rate shows how many people leave a website after looking at just one page. This is not good because it means that visitors are not staying long enough to find what they need. If the bounce rate is high, people are not finding what they want on that website and are leaving right away. Exit rate and bounce rate are similar. However, the exit rate reveals how many visitors leave your website after viewing a specific page, while the latter indicates those who depart from any page without engaging. A very high exit rate on one of your pages could suggest that it needs to be optimized to retain more visitors. By striving for a lower exit rate, you can aim to maximize engagement and ultimately drive conversions! Want to draw more people to your website and get them to take action? Focus on boosting your click-through rate! This metric reveals the number of individuals who followed a link from an ad or email, heading straight for your site. AdWords optimization and email marketing campaigns can be tailored around increasing click-throughs—and even social media engagement. When assessing user engagement, average session duration is a key metric to measure. A high bounce rate signals that your visitors are not engaging with your site for long enough periods of time and thus cannot be appropriately converted into customers. Cart abandon rates measure the number of shoppers starting but not finishing their shopping journey. High cart abandonment can reveal a flaw in your shopping experience or indicate that shoppers are leaving to do further research before purchasing. Knowing your abandoned cart rate can help you identify potential areas for improvement and make the necessary changes to reduce abandonment. By monitoring these additional factors, merchants can better understand why customers may be dropping off during checkout, allowing them to make changes that improve user experience — ultimately leading to increased conversions over time. How to increase your ecommerce conversion rate Now that you understand the mechanics behind measuring ecommerce success, here are 5 tips to use those metrics to increase your average ecommerce conversion rate: An optimized website should be fast and intuitive to navigate, or customers will leave for a better experience elsewhere. Making sure your website loads quickly and runs smoothly is essential, as
Statistics show that 67% of consumers claim that high-resolution visuals drive more views and conversions than text-based descriptions. 56% of marketers use visuals in 100% of their published work. Moreover, shoppers who watch videos are 1.8x more likely to buy than those who only read text-based descriptions. What do these stats tell us about e-commerce? We are in an age of visual commerce, and businesses need to embrace this trend in order to achieve a competitive edge. Up until recently, a good shopping experience was typically reserved for brick-and-mortar stores. Today, things are changing. With the evolution of mobile technology and a tsunami of visual applications that allow for shopping right within the app, the retail apocalypse is here. Forward-thinking retailers are embracing visual commerce to remain competitive and relevant in an industry that’s rapidly changing. But what exactly is visual commerce, and why should you care? In this guide, we’ll delve into the crux of visual commerce and explain why you should use it for your e-commerce business. We’ll also explore the various types of visual commerce and the trends that are making waves in the visual commerce space. Let’s dive in! What Is Visual Commerce? Visual commerce is the concept of leveraging visual content and augmented reality to attract, engage, and influence customers. In its most basic form, visual commerce is the concept of enriching customer experience with powerful visual content that empowers shoppers to engage, convert, and become loyal to a brand. Visual commerce is an umbrella term that includes, but not limited to: Essentially, visual commerce aims to drive conversions and engagement using compelling photos and videos. It aims to take the “normal” visuals that people use on social media and other sites to the next level. Instead of just having a plain 2D photo, you have a high-resolution product image, plus a super-engaging video, and maybe even a virtual try-on feature. This is often achieved through the use of specialized tools, such as 3D product configurators and augmented reality applications. The beauty of visual commerce is that it compels customers to interact with the product and be brand loyal. Types of Visual Commerce Visual commerce helps to improve product discoverability. This has a positive impact on conversions and sales. There are different types of visual commerce you could use to achieve this goal, which we’ll discuss in this section. 1. Visual Configurators Customers love the flexibility to choose between various product designs and parameters. Every customer has unique needs, and with options, they get to find exactly what they want. When customers are allowed to customize their products, they become more interested in your business. And this is where visual configurators come in! These online tools allow shoppers to customize and visualize products to their specifications. With a visual configurator, customers can create their desired product—change the design, shape, material, characteristics, etc., and have a 360-degree view of the product. This allows the customer to get involved in the design process. In other words, a visual configurator is a tool that allows users to customize the features and components of a product so that the final product meets the expectations as much as possible. As products become more complex and the need for personalization increases, product customizations have become a handy tool for shoppers and manufacturers. 2. Configurable Augmented Reality for E-Commerce Augmented reality (AR) is the next big thing in e-commerce. This technology allows shoppers to preview products or experience services in their own environment and on their own time before committing to buy. In other words, AR allows customers to see and experience the product as if they were in a physical store. It allows users to see virtual 3D versions in the real world. Using AR, shoppers can virtually try on and test products through an electronic device. This helps them understand what they are buying and how those items will work for them. 3. Virtual Photography Virtual photography is the practice of producing photorealistic, computer-generated images. A virtual photograph is a highly-realistic 2D computer-generated image. If done properly, and with the right tools, the final result is indistinguishable from a photo taken with a traditional camera in a studio. Creating virtual photographs requires utilizing product sketches, photos, and even existing CAD files. Depending on how many files there are and their size, creators will likely need to clean up the device storage regularly. The creator can add texture, colors, and shadow with these components to create a photorealistic image. Creators can then create a 3D experience, allowing customers to view the product in all styles, colors, and angles without leaving their homes. The goal isn’t just to save on costs but to show the product features in a way that evokes emotions. Virtual photography helps to showcase the product in all its glory. Hence, the produced photos also work great when used in marketing videos. 4. Visual Search Visual search leverages AI to help users search your website through the use of real-world imagery rather than text. AI-powered image recognition technology interprets the image’s content and returns relevant results. There are many things you can do to optimize your images for search, including making descriptive filenames and adding alternative texts. 5. Digital Lookbooks Lookbooks and digital catalogs are mainly used for lifestyle items. A lookbook is a collection of photos compiled to show off a model, style, or clothing line. Usually, marketers take fashionable photos of models for a particular look or season. This gives viewers ideas of how to style outfits or insights into the trending styles for a given month. The focus of digital lookbooks isn’t on the product but on the results—like a final look after donning certain attire or applying make-up. How e-Commerce Stores Use Visual Commerce Jeff Bullas, a renowned digital entrepreneur and blogger, says that content with visuals drives 94% more views than content without them. With that in mind, an increasing number of marketers are using visuals to spice up their content and
Software Advice, a leading company that helps businesses navigate their software-buying journey has recently recognized Zakeke as a Top CPQ Software in its latest Frontrunners report. This report evaluates verified end-user reviews, positioning the top-scoring products based on their usability and customer satisfaction ratings for small businesses. (Know more about the methodology here) Zakeke has earned an incredible overall rating of 4.8 (out of 5). Big thanks to all our users who love us so much! It would not have been possible without your constant support. Here’s what our CEO has to say about these incredible achievements: “We’re very excited that Zakeke has been named as one of the Best CPQ for 2022. Customization & Configuration is so much more than just offering personalized products. An intuitive, easy-to-use, and powerful multifunctional solution helps manage work processes, reduce and control the number of repetitive tasks, and concentrate on communication with team members and customers. In addition, using a powerful CPQ also increases workflow efficiency and quality by eliminating small human errors,” said Zakeke’s CEO Angelo Coletta. Check out what our happy users have to say about us: “It has been very easy for me to implement and it has covered practically all the expectations that I could have for a tool of this type. It is an ideal tool to give “life” to your customizable products. Fun for the user to use and practical for the seller.” – Victoria “I love customer service. very fast responses and very helpful. The software gets updated frequently with new features. so far compatible with my products so I didn’t have to update anything unless you want to use the new features of course then you need to update.” – Mariam “With the ability to upload 100s of business card designs, being able to offer customers integrated clipart and photo stock within the package meant that we could deploy the online designer without any coding. Also, the software integration with WooCommerce was a massive step forward for our site.” – Mark Automation is one of the main benefits of CPQ. Zakeke workflow enables businesses to reduce admin work, easily set up and unify all configuration tools, including supporting apps and integrations, and customize the offer specifically for the needs of the clients & teams involved. Want to share a review? Click here About Software Advice Software Advice is the leading online service for businesses of all sizes navigating the software selection process, providing free, personalized software recommendations that meet their business needs. Software Advice features objective research by industry experts and reviews from validated users, saving buyers time and resources. Software Advice is a Gartner company. For more information, visit https://www.softwareadvice.com/ Disclaimer: The FrontRunners badge is a trademark and service mark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved. FrontRunners constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of nor constitute an endorsement by, Software Advice or its affiliates.
Today we look at what NFTs can really offer your brand with lessons learned from real-world examples. Non-fungible tokens (NFTs) may be viewed as the newest tool that demonstrates how value and currency as concepts are evolving through the digital age. Many companies are already taking notice, have already experimented with NFTs, and are now securing their positions as frontrunner brands in the process. Coca Cola, Nike, Gucci, Ray-Ban and numerous other recognizable brands are creating NFTs in a variety of collectable formats to create exclusivity as well as broad exposure for their designs and products. Many of these items appear in the metaverse where they are viewed in 3D and AR in virtual stores and on virtual runways. For companies wanting to get an idea of what an NFT is and how it can be used to drive brand value, we must first establish what value is to a brand and then connect those values to key economic principles and the technology behind NFTs. eCommerce Brand Value Marketing and Brand executives often talk about value in the context of how brands contribute to the success of a business: brand awareness, reach, market share, customer experience, customer loyalty, and other KPIs. Value is one of the few things we encounter that always exists in both a conceptual and actual state. Understanding value practically and conceptually will be integral for exploring and understanding the world of NFTs. For our discussion we will keep things simple and define value refers as the price that someone is willing to pay for a thing. What makes assigning value to a thing both challenging and interesting is that it is always possible for two parties to have very different or diverging opinions on a given value. Asking a variety of people or entities what something is worth could yield you a handful to hundreds of thousands of different answers, all informed by how the given party assesses disparate information. NFTs as an ecommerce asset. For those who may be new to NFTs, an NFT is a unique digital asset that has its ownership details tracked on a blockchain. This can be a broad set of assets that includes digital goods, such as virtual apparel or digital art, or tangible assets, such as physical apparel and art. As NFTs are a way to allow people to make and own digital files (e.g., MP3, MP4, gifs, jpegs, etc.), they open unlimited possibility to new channels for brand expression and points of connection with customers. Determining whether NFTs are right for your business will take thought, time and research, however, the upside of NFTs is access to an existing globally distributed network of customers which will continue to grow over time especially as new applications are discovered and virtual experiences proliferate. Here are a few suggestions as to how to make good use of NFTs. Adapt and exploit changes of value. One potential source of NFT value is the current direct-to-consumer state in which NFTs exist. Given the mechanics of how the technology functions, visibility into the ownership and uses of assets is available for all to see. Companies have frictionless interactions with consumers as a result and they have near perfect visibility into how their outputs are being valued and used by end consumers whenever an item is bought or sold. NFTs offer fractional ownership of items and assets which opens up new possibilities for brands. Brands can take lessons from artistic experimentation in NFTs. For example, the ability to purchase an excerpt from a song, a portion of an image, or part of any other digital asset opens the door to increasing the volume of participants in each market. Prior to NFTs, centralized transactions and ownership have primarily benefited the ultra-rich. NFTs are decentralized assets available to anyone with stable internet and disposable income to transact. Make a strong visual connection between NFTs and your brand’s mission. A clear example is Nike’s use of NFTs to certify the veracity of each pair of sneakers. When Nike customers buy a shoe, a digital version of the product appears in a ‘virtual locker’ under an initiative called CryptoKicks. Given the “sneaker head” subculture that exists around collecting, trading and reselling sneakers, incorporating a digital seal of authenticity to the physical counterpart of the token takes these practices to the next level, and is aligned with their brand’s purpose of delivering highly desirable products and services that Nike customers love. Be bold and get creative with your brand. The possibilities for NFTs to enhance your brand strategy are limitless, and your desire for creative expression in this space should be just as limitless. One strategy for NFTs is minting a digital collectible tied to a physical item in your portfolio that can be used for gaming or online forums as you may have seen already from major brands who are already in this space. The potential for NFT brand opportunities goes beyond the realm of the collectible to unlocking enhanced customer experiences. Across all industries, NFTs offer new avenues for rewards systems that enhance brand loyalty. In the worlds of sports and music, NFTs are already being used to build communities of devoted fans and offer exclusive access to their favorite athletes and musicians. Asset management agencies provide end-to-end creation and management services and even marketplaces for collateralized loans as exemplified by a variety of fintech firms.As companies explore digital assets and ramp up their marketing and product teams to deliver, they will be flooded with a great variety of narrowly focused use cases as wells high prices brought about by the hype that often distracts from the technology. NFTs may be novel, digital and something that many people will not have encountered in their day-to-day lives so there is only a limited amount of information that can be gleaned from market prices of NFTs. Instead, go for a meaningful and sustained focus on understanding the NFTs’ economic value to your service and approach it with natural levels of skepticism as
