More payment options could improve eCommerce conversions

According to a recent survey by PayPal, the average consumer in the UK has abandoned a purchase twice in the last month because they couldn’t pay the way they wanted to.

When businesses introduced a new payment type, a quarter saw an increase in sales.

Retailisation - what it means to be a modern digital retailer

"We want to be more like a retailer"
"We need to think more like a retailer"
"Our business needs to evolve into more of a retail model"

Sound familiar? Well I'm hearing these sorts of quotes more and more often these day, and  not just from the obvious brands you would think. But from established product manufacturers and service providers, who realize that they need to up their game and drive people to consideration and purchase/subscription/take-up.
It seems that despite a recent Global economic melt-down driven by over-spending and an economic reliance on spending... retailisation seems to be the way forward. Everyone apparently now wants to be the next Amazon, Zappos or Play.com

So what does it actually mean to think and be more like a digital retailer these days? (Especially the major online or multi-channel retailers, who seem to epitomize this ethos).

Well here's my thoughts:

1. A good online retailer never stops looking for ways to improve what they have. This constant & iterative approach to goal optimisation means sites need to constantly change to increase their conversion ratio, average order value and other KPI's. eCommerce giants like Amazon, Argos, Tesco, etc. no longer launch major re-developments once in a while, but have a tried & tested process of smaller changes planned based on analytics & insight. These changes are then implemented in an  optimisation road-map as quickly as they can, with the idea of building up a picture of what works and what doesn't.
   This is also not just something that done on the homepage of your site,  where every product/service wants to get visibility, but on every page / template, including: landing pages, product pages, etc.
   
2. Use every opportunity to maximise each individual transaction. From useful up-sell and cross-sell opportunities through to optimised abandoned basket messages or a clever eCRM communication that pulls in dynamic product suggestions based on browsing history... you have the data, use it to persuade and encourage.
   
3. Carry out regular user experience site reviews, but ensure they are done from the perspective of a prospect/customer.
   Examples could include:
1. A new customer looking for product information
2. An soon-to-be customer looking for product validation
3. An existing customer looking for support or returns information
4. A lapsed customer who has forgotten their password.
   
4. A PPC & display budget should focus on those campaigns that deliver conversions and not just visits or other vanity metrics. In other words, deliver a bought media strategy that targets goals using input from you site analytics.
   (And if I hear one more senior exec say "we have X number of hits on our site" - I think I'll scream)

Retailisation isn't for everyone. But as more & more sites move beyond just the basics, I'm sure it is an approach that will continue to increase in use.

Abandoned basket emails... one thing I forgot

Isn't it always the way? You write a nice long posting on a specific subject, giving some useful tips along the way.... and then once it's written and published you remember something else that will be obvious to your readers.

Well, it's happened to me (again) with my latest opinion piece on optimising Abandoned basket emails. As it was only after I listed out my 6 suggestions for improving these emails and committed it to publish last night, that I realised I'd missed and obvious one.

So as well as: Experiment with subject lines, Experiment with the time of sending, Send more than one email, Use your email service provider, Experiment with layout, imagery & palette and Track links... I forgot to include "make sure your email is mobile compatible".

You see that although a lot of people just shop on their PC's and tablets, with mobile eCommerce lagging a little way behind.... they still carry their mobile with them. So if you're going to send an email reminder to them several hours later, to let them know they have left an item or two in their online shopping basket, there's a good chance they are out and about, or at least not in front of their main terminal. So if you want them to read that email and then go on to buy the product(s) you need to make it as compatible as possible for all devices.