10 Ecommerce "Secrets" to Skyrocket your Sales
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This document outlines 10 ecommerce secrets from successful companies to increase sales. It discusses strategies used by Nordstrom, Polyvore, Nike, eBay, Zappos, Amazon, Alibaba, Tesco, Ryanair and Groupon. Some of the key secrets discussed are providing clothing fit information, enabling custom product design, optimizing product search and filtering, offering subscriptions, incorporating upsells, and focusing on local pickup options. The document advocates studying the strategies used by top companies, selecting the most beneficial approaches, and implementing them to boost online revenue.
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10 Ecommerce "Secrets" to Skyrocket your Sales
- 1. 10 Ecommerce “Secrets” to Skyrocket your Sales Rodolfo Melogli
- 2. “Good artists copy. Great artists steal.” Rodolfo Melogli © Palm-reading.org
- 3. Copy from the best and take action
- 4. Nordstrom 10 Ecommerce “Secrets” One of the largest clothing retailers in the world Ecommerce Key feature: clothing fit information Customer confidence Can “try” clothing online Low return rate
- 6. 10 Ecommerce “Secrets” Return Rate Study – University Regensburg “I send things back because I don’t like them” (59%) - “It doesn’t fit” (52%).
- 7. Rodolfo Melogli Polyvore Huge online women’s clothing store: 20m visitors / month Ecommerce Key feature: shop for similar items. Items of a similar style, tag or colour Sub-filter similar items Styling ideas tab “Tell me when this is on sale”
- 10. Rodolfo Melogli “The time customers spend in shops determines how much they will buy” ~ Paco Underhill, Why We Buy
- 11. NIKE 10 Ecommerce “Secrets” Retail giant $27b Ecommerce Key feature: NIKEiD Customer becomes the designer and personalises their shoe Of course higher price Getting something nobody else has
- 14. 10 Ecommerce “Secrets” More than 35% of U.S. online consumers are interested in customizing product features or in purchasing build-to-order products that use their specifications (© Forrester.com) © Mini Cooper © M&M’S
- 15. Rodolfo Melogli eBay Largest and most well known online marketplace (or maybe it used to be!) Ecommerce Key feature: search result page Saves time and frustration “Related searches”, category sidebar. Never an empty search. Filters
- 18. Rodolfo Melogli Visits With Site Search – Sales Conv. Rate
- 19. Zappos 10 Ecommerce “Secrets” One of the world's largest online shoe stores Ecommerce Key feature: in 2014 went… “offline” in Las Vegas Also Amazon, eBay, PayPal, Boohoo opened a pop- up store Well known companies getting “closer” to customers Online is recognized as an enhancement to brick- and-mortar stores, and not a detractor = MULTICHANNEL
- 20. Zappos & co. 10 Ecommerce “Secrets”
- 21. Rodolfo Melogli Amazon Largest Internet-based retailer in the United States (2011) Ecommerce Key feature: Subscribe & Save up to 15% Particular item shipped on a regular basis. Predictable monthly sales. Longer relationship with customers Freedom to cancel at any time
- 23. Rodolfo Melogli “Dogs never stop needing to eat”
- 24. Alibaba 10 Ecommerce “Secrets” On the date of its IPO, 19/9/2014, market value was $231 billion… Ecommerce Key feature: e-Credit Line & Seller trust For small businesses with limited cash flow Provide payment at a later date, interest rate 1,2% per month Credit approval procedures, Loans up to $2 million
- 27. Rodolfo Melogli Tesco 3rd largest retailer in the world measured by profits and 2nd largest retailer in the world measured by revenues Ecommerce Key feature: Click and collect Website makes all deals easy to view. You can actually find what you’re looking for Users can save their online shopping list!
- 30. Rodolfo Melogli © Blakemore Retail © Lbc.co.uk Click-and-collect services in the UK will be worth £6.5 billion by 2019 - an 82% increase on current levels as lockers, drive-thrus and store pick- up points help to drive online sales. More than two thirds of UK shoppers have already used click-and-collect at least once - up from 51% in 2012 - with fashion items proving to the most popular (©profitero.com)
- 31. Ryanair 10 Ecommerce “Secrets” Revenue 5 billion euro Ecommerce Key feature: add-ons for accommodation, transportation, insurance, etc. Cart, checkout, thank you page and email receipt Adding value is not Annoying Benefit to customer who needs certain add-ons after having purchased
- 33. 10 Ecommerce “Secrets” According to Forrester.com research analyst Sucharita Mulpuru, product recommendations are responsible for an average of 10-30% of eCommerce site revenues.
- 34. Rodolfo Melogli Groupon Google failed to purchase Groupon for $6 billion in 2010 Ecommerce Key feature: “Please send me personalised emails for the latest offers for great local services, shopping and travel” Bonus tip: large number of copywriters who draft descriptions for the deals, seen as a contributing factor to the popularity of the site, featuring a distinctive mix of thorough fact-checking and witty humour.
- 37. 10 Ecommerce “secrets” by Benefit 10 Ecommerce “Secrets” REVENUE RETURNS BRAND TRUST UX Fitting guide x x x x x Related Products x x Custom Design x x x Search Page x x Subscription x x x x Pop up Store x x x x Credit Line / Trust x x x Local Pickup x x x Upsells, Upsells, Upsells x ? Force Email Sign Up x x
- 38. 10 Ecommerce “secrets” by Ecommerce type 10 Ecommerce “Secrets” PRODUCTS SERVICES DIGITAL LOCAL MKTPLACE Fitting guide x Related Products x x x x x Custom Design x x x Search Page x x x x x Subscription x x x x x Pop up Store x x x Credit Line / Trust x Local Pickup x x Upsells, Upsells, Upsells x x x x x Force Email Sign Up x x x x x
- 39. 1. No matter what your niche, you can pick the best strategies that have already been tested 2. Pick your best 3 and assess their benefits to you 3. Choose “THE ONE” and implement it for the next 30 days Rodolfo Melogli 10 Ecommerce “Secrets”