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E-Commerce_Adaptive-Consultancy_ Eddie-Prentice_IJL-2011

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A very comprehensive review of how how eCommerce is being socialised. Building trust through teh advocacy of your peers is now essential in online retailing.

A very comprehensive review of how how eCommerce is being socialised. Building trust through teh advocacy of your peers is now essential in online retailing.

Published in: Technology, Business

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  • 1. Converting website visitorsinto customersLatest Trends in eCommerceIJL Seminar – Sunday 4th September 2011Presented by Eddie Prentice, Adaptive Consultancy
  • 2. Agenda• Why are we here?• Social commerce• Customer acquisition• F-Commerce• User generated content• eCommerce trends• Conclusions
  • 3. Plus ça changeplus cest la même chose
  • 4. “There’s nothing newjust new ways of doing the same thing”
  • 5. Why are we here?• 20% shoppers spend more than half their income online• 40% of UK consumers shop online at least once a week• 51.9% research purchases solely online• 40.1% start their search for all purchases online Source: PricewaterhouseCoopers / Reevo, June 2011
  • 6. Online shoppers are less impulsive• Today’s online shoppers have become smarter and more informed• They use online channels to – evaluate options – socialize about brands – find the best deals – give advice to othersThey are becoming less impulsive when making purchase decisions. * *Source: Yahoo
  • 7. Social commerce the key trend The socialising of the online shopping experience is the big development in the last 12 months Not just about social media Its about customer engagement at every level
  • 8. Social Commerce
  • 9. What is Social Commerce?• Social commerce provides social context to the shopping experience; it’s not direct marketing• It’s about engaging with people, earning the right to offer an opportunity to purchase• Connect, listen, understand, engage – improve the shopping experience.
  • 10. Buyers no longer act independently We live in a connected worldProduct reviews Price comparison sites Social networking sites
  • 11. Social Commerce• Key trend in 2010: using social media for promotions and offers.• Key trend in 2011: socialising the brand’s own retail website.
  • 12. Social CommerceConsumers are most attracted to a website thatprovides good advice and reassurance about theirpurchase.Features consumers most like:• recommendations (46%)• outfit suggestions (43%)• customer reviews (40%)(Source: IMRG)
  • 13. Customer Acquisition
  • 14. Why Facebook Users become Fans• To receive discounts• To show support for the company/brand• To stay informed about the company’s activities• To get updates on future products• For fun or entertainment• Develop a mix of content: – special promotions – life inside your company – news thats likely to start discussions
  • 15. Turn fans and followers in to Subscribers • A Fan or a follower is not as valuable as an email subscriber. Only with email opt-in do you have permission to send promotions. • Add email opt-in form on your Facebook page. Offer incentives to sign up e.g. 20% off welcome coupon. • Convert Twitter followers in to subscribers. Tweet occasional email opt-in offers.
  • 16. Use Email to grow social followers• Add “Follow us” buttons for your social networking accounts to your email template.• Include social media content in your email messages to encourage email subscribers to become fans and followers.• Show the value of being socially connected e.g. highlight an individual as “fan or follower of the month”.
  • 17. Leading with Email sign-up
  • 18. Why Tweeters follow your brand• Special offers and deals. 43.5% said it’s the top reason they follow brands on Twitter *• Feed content that gives Tweeters something to talk about.• Find out what companies really stand for.• Receive insider information about new products and services.• Get to know the personalities behind a company.• See how a company responds when its brand is publicly criticized.Responding to criticism voiced on Twitter can impress other Twitter users and make them more disposed to follow your brand * Source: Satisfaction/Column Five study.
  • 19. Group Giftingnotonthehighstreet.com
  • 20. F-CommerceFacebook as shopping location
  • 21. Shareoptionbeforeproductpage
  • 22. Sharingwith yourfriends onFacebook
  • 23. Product pageon Facebook
  • 24. Sign In pageOn Facebook
  • 25. Engaging a shopper via email makes themworth 140% - 150% more to a business thansomeone not engaged in that way. Source: Experian – Consumer Data Analysts Tick to opt out
  • 26. User Generated Content Reviews and ratings are becoming the norm
  • 27. Growth in User Generated Content• User reviews drive sales – builds trust an provides reassurance• If you don’t provide them, your customer will look elsewhere for them and may not come back.
  • 28. Who you are makes a difference54.2% of UK consumers say a reputable retailer is important when shopping online. Source: Reevoo, June 2011
  • 29. Don’t fear negative reviewsMost people leave positive comments Source: LightspeedResearch, March 2011
  • 30. Shoppers check reviews before purchase Peer to peer recommendations are now more trusted than marketers’ own messages.
  • 31. Reviews – still need convincing?• 87.3% of UK consumers sometimes or always read reviews before purchasing.• 86.9% will not purchase a new product before reading the impartial opinions of owners.• 78.2% of UK consumers are more likely to buy products with good reviews• Almost half of UK consumers have written a review. Source: Reevoo, June 2011
  • 32. How to attract User ReviewsThe more reviews you have, the more useful a resource it becomes for consumers.• Ask for reviews on product pages.• Email customers after the purchase to request a review.
  • 33. How to display user reviews• The best examples display a review summary and then allow customers to drill further into the detail if they want to.• Remember that customers don’t necessarily have the patience to read long reviews• Simplify and present reviews in a way that is easy to read
  • 34. Overstock.comScan the page and quickly see what others are saying
  • 35. Overstock.com Review summary and detail on product page
  • 36. “Review” conclusions• Show both negative and positive user reviews. The negative reviews make the positive ones more credible.• When asking customers to leave reviews don’t deter users by asking too many questions.• Buyers and merchandisers should keep a close eye on the best and worst reviews to inform future product selection.• Consider purchase verification. By allowing only customers who have bought the product from your website to leave reviews, you can at least ensure that the feedback is genuine.
  • 37. Seller ratings are important for lesser known brands Ratings build buyer confidence. If you are not a national brand ratings show shoppers that others have had a positive experience on your site. Place seller ratings in a prominent position on the product page.
  • 38. Cross-selling and up-selling
  • 39. Cross-selling and up-selling• Cross-sell. Offer other items which customers are likely to buy alongside the product they are currently viewing.• Up-sell. Offer more expensive alternatives to increase order value.
  • 40. Benefits of cross-selling and up-selling• Provide more prominent exposure for higher- ticket items.• Increase average order values.• Show matching items to help customers to build up a complete look.• Increase conversion rates by offering alternative.• Increase awareness of product range.
  • 41. Cross and up-selling tips• Keep items relevant. Showing unrelated items is a waste of valuable merchandising space.• Keep the number of cross and up-sell options to a reasonable number. Avoid cluttering the page and spoiling the effect.• Show accessories that are obvious cross-sells e.g. jewellery box.• Amazon do this well.
  • 42. Amazon cross-sell / up-sell
  • 43. Blue Nile up-sellAll similar itemsslightly moreexpensive thanshopper selection. £232 £263 £254
  • 44. Calls to Action• Buttons need to jump out at the shopper - leave them in no doubt about the next step they need to take to make a purchase.• Test different combinations to see what works best: – colour – button size – wordingNo absolute right and wrong. If it doesn’t stand out clearly on the page, then there is room for improvement.
  • 45. Buttons – contrast more important than colour No need to agonise over blue or green. Only question is “does it stand out?”
  • 46. Delivery & Returns• Competitive delivery charges or a no-hassle returns policy can drive sales.• Don’t wait until checkout before revealing delivery costs. This leads to high cart abandonment.• Customers choose to either – avoid the hassle of going into the checkout to find out charges, or – leave the checkout after seeing the charges.
  • 47. Product Descriptions
  • 48. Good photography is criticalUse zoom to show the quality and texture of your jewellery
  • 49. Shopper guidance adds value
  • 50. Product detail sells
  • 51. Shopper guidance adds value
  • 52. Countdown clock creates a sense of urgency
  • 53. What do shoppers get excited about?• 80%: Finding a great price or deal on a product I want• 60%: Getting a better price than other people• 53%: Finding a rare or hard-to-find item that I want• 47%: Discovering a great new product Source: Yahoo 2011
  • 54. Building trust improves conversionInternet shoppers are smart and cautious. Websites without credentials, support, and security can put them at risk.• 72% of shoppers who have abandoned a shopping cart would have continued the transaction if a trust mark had been on the site *• 54% of online shoppers in the UK abandoned a shopping cart because they didn’t get a sense of security and trust when it came time to provide payment information *Prominently display: - Email address - Phone number - Returns policy - Privacy policy *Comscore research - Trust icons
  • 55. Did you know?4pm, Wednesday is peak-time for workplace shopping.• The largest shopping rush comes when employees are celebrating the “hump” of the week• 75% increase in shopping at 4pm on Wednesday. Source: Digital Strategy Consulting, Sept 2010
  • 56. Top headlines• Incorporate eCommerce and social best practices both on your site and on Facebook.com• Product reviews are now a must haveGive your customers what they seek. Embrace the social web or get left behind.
  • 57. Thank you View our eCommerce platform at IJL Stand number: C119Email Us: info@adaptiveconsultancy.com