Marina Iermolaieva says, “Upselling and cross-selling are popular approaches to increasing average order size and total revenue. Customers, too, are amenable to such tactics because they discover products they need or will need in the near future. The market is full of similar products, with many brands offering the same products; recommendations and cross-sell tactics can help get additional revenue from each customer. But, first, it’s essential to understand the difference between cross-sell and upsell. An upsell is when you offer an upgrade to the existing product; you convince the... [...]
Archive for the 'E-Commerce' Category
Brendan Miller says, “My mission at Forrester is to help ebusiness executives transform the role of payments from financial utility into an engine for customer engagement, revenue growth and improved customer experience. A barrage of new innovation and business models are upending how consumers and businesses make and receive payments. If merchants and businesses do not consider or implement these new innovations they risk losing customers and ultimately relevancy. Customer obsessed businesses can turn payments disruption into business advantage. Success hinges on making technological... [...]
Thomas Smale says, “Whether you’re a bootstrapper or an investor with a bit of extra money to start a new enterprise, ecommerce is a great field to get into, especially today. Even as a beginner in ecommerce, the tools and resources are all laid out for you. All you need is a strong work ethic and a desire to succeed. Here are five reasons to start an ecommerce business now. 1. Worldwide, ecommerce is expected to grow by as much as 13 to 25 percent. Projections from eMarketer are showing rapid worldwide ecommerce growth through 2018. This year is expected to peak at nearly $1.6 trillion... [...]
Patrick Stox says, “Many companies don’t understand why visitor data and e-commerce sales are underreported in Google Analytics, and this tends to cause confusion. In this article, I’ll explain why what you see in Google Analytics doesn’t jibe with what you view in server logs and sales data. Google Analytics doesn’t have access to the actual sales data, only the data that is reported to it. While the Google Analytics data should not be used for financial reporting, it is a good indicator of sales and useful for data analysis. Here are some reasons why the data is not accurate. Missing... [...]
Morgan Jacobson says, “Whether you want to start an ecommerce endeavor or just expand the products you offer, keeping up with inventory is a definite concern. Whether you need the space or the manpower to keep all your products within reach and accounted for at all times, the fact remains that this particular concern could shut you down before you even get started. Unless you discover the beauty of dropshipping. What Is Dropshipping? When you outsource your shipping responsibilities to the manufacturer of your ecommerce goods, that’s drop shipping. In other words, you sell the products... [...]
E-Commerce sales in the U.S. totaled $306 billion in 2014 and are projected to pass $494 billion by 2018. With numbers like this, it is safe to say that e-commerce is here to stay and is only becoming more powerful by the minute. You might already run your own e-commerce store or are about to launch one from scratch; either way, there are six principles every e-commerce website should follow. 1- Clean Visuals Visuals and the overall look of your website are one of the most important elements in building trust with potential customers and in increasing their engagement on your site. If a website... [...]
Nina Zipkin says, “If you’re starting a new company, you want to make sure that your product gets in front of as many interested potential customers as you can. One way to make that possible is to make it available on Amazon, which gets an influx of about 75,000 new products each day. The process, as outlined in an infographic from new product development firm Idea Buyer, takes 10 simple steps. Start by figuring out how many units of your product you intend to sell, and connect with with GS1, an organization that provides barcodes to retailers and businesses, to get a UAN or EPC barcode.... [...]
Samuel Edwards says, “In today’s Internet-driven consumer marketplace, it’s important to have a plan for selling your products and services on the web. This means you need an e-commerce website. While that can sound scary and intimidating to someone who doesn’t have a lot of experience building or designing websites, the truth is that it’s never been simpler for an amateur or novice to launch a working website – specifically a functional e-commerce site that allows you to process sales. So, where do you start? What comes first? How do you decipher which tools and resources are... [...]
Luke Richards says, “The ecommerce part of our massive, monthly-updated, Internet Statistics Compendiumsaw a wealth of fresh data and trends hit its pages this week. The past couple of months have seen some especially excellent freely available stats focusing on online retail across some of the world’s less-analysed markets. With comScore releasing their Peru 2015 Digital Future in Focus and Nielsen publishing some key ecommerce insights for New Zealand. In addition to these, Payfort haa recently released the annual and ever-growing State of Payments report looking at the Arab World.... [...]
Jack Simpson says, “With the Masters of Marketing awards entry deadline fast approaching (September 23), I thought I’d try and inspire your entry for one of the key sectors: Retail and Ecommerce. Last year saw some fantastic entries around retail and ecommerce campaigns. In this post I’m going to cover five of the best ones and the impact they had on the businesses that implemented them. House of Fraser In partnership with Criteo, House of Fraser wanted to find a way to reach its full audience across mobile and desktop devices in order to get better return on investment (ROI) for its... [...]