This week, retailers will begin the busiest time of the year. According to recent data from the National Retail Federation, “the holiday shopping season is expected to represent approximately 19.2 percent of the retail industry’s annual sales with online sales growing between 8 -11 percent this year.”
It’s no secret that retailers have been making significant investments on their ecommerce operations to meet the needs of constantly connected customers. As an example, this year companies are expected to spend $125 billion in online advertising to queue people up to their online stores. However, despite all the investments, ecommerce conversion rates hover around 3% on desktops and decline to 1% on smartphones with tablet users converting somewhere in the middle. On the other hand, in-store conversion rates range between 20 to 30 percent. Considering the gap in conversion rates between online and in-store, we need to ask what’s driving the low conversion rate for eCommerce?
In the articles below, Moxie executives discuss strategies that allow companies to improve eCommerce by focusing on delivering relevant, proactive engagement throughout the customer journey and across devices.
Forbes: Integrating Fragmented Customer Conversations Into A Valued Experience Takes Moxie
Two discussions are occurring in the marketplace around customer experience, one is focused on how to interact, inspire and influence buyers to trust and prefer your brand. The other conversation is focused on what to do with customers post purchase. Logically, these two are part of the same conversation; one a continuation of the other. But in reality, that’s not what is happening. Organizational silos, product-centric missions, short-term revenue obsession and company cultures are some of the factors that divide and fragment customer conversations.
To the customer it’s all one conversation regardless of where they are in the lifecycle of the relationship. They don’t care who’s responsible for the interaction, to them it’s all about consistency and continuity of value realized and the relevance of each interaction. What puzzles customers is why it’s taking brands so long to get it right. Read full article.
Entrepreneur: 5 Ecommerce Trends Retailers Can Profit From This Holiday Season If They Prepare
The holiday season is just around the corner, and retailers face the busiest time of year with Black Friday, Cyber Monday and all the frenzied shopping days in between until December 25. It’s no secret that a tremendous amount of pre-planning is required, but are your efforts focused on the right areas of your business?
Aside from bringing the holiday magic alive in-store and giving your website a ho-ho-holiday makeover, there are five ecommerce trends that retailers can’t ignore if they want this year’s holiday season to be profitable. Read full article.
Inc.: 6 Ways to Increase Your E-Commerce Conversion Rates
When it comes to e-commerce not much has changed over the years. Companies have mostly focused on SEO and advertising to attract clicks but when it comes to actually making sales conversion rates have remained abysmally low–typically somewhere around 3 percent. It’s time for that to change, says Rebecca Ward, CEO of digital customer engagement platform Moxie, which has enabled more than 3 billion customer interactions for more than 600 leading brands including Dell, 3M and Epson. Here’s Ward’s advice for what it takes to keep customers on your site, buying your products or services as well as saying nice things about your brand on social media. Make it easier for customers to make a decision. Read full article.