The size of ecommerce market is around $1.6 trillion according to 2015 metrics. Moreover, the growth rate in 2015 was 20.9% compared to 2014. Based on highly growing market, conversion rates become very crucial for all the e-commerce websites to increase revenue and also the profits.
Where are you in this new world?
According to analyses, 34% of these websites make less than $10k yearly and the question is how to increase conversion on ecommerce websites.Try Now Free!
Personalization is one of the most essential parts in Ecommerce marketing. It is a very significant tool to achieve higher customer engagement, to increase your conversion rates and to grow your business. Customers want to see personalized ecommerce websites and they want an easier journey. They also feel more comfortable with recommendation widgets having personalized products in an ecommerce website.
According to Econsultancy and Monetate survey, 94% of businesses think that personalization is one of the key attributes to their success. In addition to this statement, 59% of ecommerce customers tell that online stores with personalization software make the shopping process easier and more interesting.Try Now Free!
and think about what these two close friends come together as Ecommerce Personalization.
“34% of ecommerce websites make less than $10k yearly” is a crucial finding in ecommerce market research. This reveals that setting up an e-commerce website doesn't guarantee that you are going to be rich, unlike the common belief. Actually it is quite the contrary, that is only less than 3% of all the e-commerce websites make more than a million. Therefore, you shouldn't fool yourself and make wise decisions and take necessary steps and precautions.
“86% of customers say that personalization plays a role in their purchasing decision” is another important metric. We might go further and claim that for the remaining 14%, personalization again plays an important role but they just don’t notice it since it happens subconsciously. There is no way ecommerce personalization doesn’t affect a customer’s journey on an ecommerce site.
Ecommerce Personalization in Action
Customers want to see personalized Ecommerce websites and they want their shopping journey to be easier. Also, they want to see relevant products in recommendation widgets in Ecommerce websites.
Ecommerce Personalization Approach
Monitor in Real-time
Statistics show that 88% of Ecommerce stores consider real-time marketing as a significant part of their plans. Real-time analytics is one of the efficient way to increase your conversion rate. All you need to do is tracking the visitors’ actions, this will provide the data in real time to your recommendation software.
Understand Customer Behavior
So we understand that ecommerce personalization is quite important since it affects your customers’ experience and gives you the opportunity to connect with your customers and finally have the engagement that you have been seeking. In today’s world, ecommerce personalization is probably one of the most crucial conversion optimization strategies since your visitors will feel themselves unique which will make them in the end loyal customers and you will maintain that attachment again through ecommerce personalization.
Control Personalization Software
You should be able to change the preset rules based on your own needs. You will need to change the style of the coupons you use. Similarly you might want to select the products that will be or that will not be recommended in various product recommendation widgets. This is only available with SaaS tools that has user friendly interface.
When you’re adding widgets to your Ecommerce website, you should consider some facts about designing and showing these widgets. You need to offer different widgets to different customers. To give an example, you analyze the customer and he/she likes the specific color. If you offer your product in a widget that colored in customers favorite color, this can increase sales.
Understanding user behavior
Before taking any action on your ecommerce personalization plan, you need to understand your customers behavior in real-time with all their needs. Then, personalization tools will give all answers that you've been looking for.
Ecommerce Personalization Tools
Realtime Conversion Analytics
Monitor your products performance, exactly what you want to see.
Trendify helps you to understand easily what’s going on your website based on real-time monitoring solution.
Return visitors with personalized website content along with highly targeted email marketing campaigns which converts more visitors into customers.
Who says that exit popups are dead? People responding exit popups if they personalized for them with targeted offers. Try personalized popups to see how it converts.
ALWAYS IN TOUCH WITH USERS
Customers knows better. Ask them to get real answers about your products in a right time with right way. Segment feedbacks based on their behaviors and find out a way to solve your problems better.
Recommendation engine is extremely customizable depending on your customer behavior and conversion goals with personalized product offers to right person in right time.Show More
BASED ON CONNECTED USER DATA
Running A/B test is good but if you connect all user data with single point of funnel and than running integrated A/B test scenarios based on that would be great!
Check out product performance in realtime with digital channel based sorting options to understand channel based user interests. This will help you to personalize social media actions for each users.
Most possible Sales with the least possible efforts. Don't lose the abandoned carts with smart personalized retargeted actions based on user data.Show More