ShopDataMining - as the last word in increasing website conversion
Every year, the share of electronic commerce is increasing and, accordingly, competition between online stores is growing. Given that the number of Internet users is no longer growing at such a fast pace, you have to constantly optimize and improve the mechanisms of not only attracting visitors, but also servicing them directly on your website. That is why, more and more often the question arises, how to reduce the failure rate of the online store and increase conversion. Below we will look at several mechanisms that have already become familiar for increasing sales on the site, as well as introduce you to some of the new products and how they can complement each other to achieve maximum efficiency.
The most common ways to increase online store sales are
well-known cross / up-sells tools and dynamic badging based on the promotion of "hits" and "new" sales.
To increase additional purchases from existing customers, use cross / up-sells tools, also known as “recommendation banners” (“they also buy with this product”, “visitors also choose”). Such blocks were used on 17% of the studied sites. The location of such banners at the first step of placing an order or at the final stage - after order confirmation is considered to be the most effective. However, this tool brings a tangible effect only with the skillful determination of the relationships for the formation of the proposal. Either complementary products (consumables, product care products, etc.), or substitute products (products that perform the same functions), but of higher value, or simply similar products, but also of a higher price segment, should be offered. . The offer of goods with the same characteristics and the same price category will only confuse the buyer, which increases the risk of not completing the purchase. In the same way, it makes no sense to offer goods with a cost an order of magnitude higher than that of a product chosen by the visitor - this reduces their confidence in the “recommendation banner” and minimizes the desire to purchase something additional.
Below we can see how “recommendation banners" uses ozon.ru. Here, at the first stage of placing an order, a block “You may also like it” appears, where books of a similar theme are offered.
Another popular way of stimulating sales among online stores is dynamic banners / blocks based on the offer of “new products”, “best-selling products” or “special offers”. These blocks were seen on 48% of the sites studied. You need to be aware that visitors to your store can easily distinguish between a “novelty” or “best-selling product” from an obsolete, outdated, or simply the most expensive one. Such a deception on your part is not only unethical, but will alienate visitors from your “profitable” offers, and maybe from the store as a whole. And then the profitable areas of your resource occupied by dynamic banners will simply reduce, not increase your income. Dynamic banners are a really powerful conversion tool. but it will bring benefit only with "true" use. Each type of dynamic banner is targeted to a specific type of visitor (buyer). And if the “new products” and “special offers” are really used to generate demand, then banners with “the most popular goods” cannot be used for this - they are designed to support demand, because they are also popular products that already come in the taste of many of your customers.
The use of this tool can be seen on the site citilink.ru. On the main page of the site there are blocks “Product of the day”, “Popular in the TOP-100”.
To summarize, the “recommendation banners” are designed to sell the visitor a more expensive product, or something in addition to the one already selected (a classic example, these are recommendations to buy spare ink cartridges for the selected printer). In turn, dynamic banners are a targeted approach to visitors to an online store, as well as a way to smooth out the level of demand for goods within their life cycle.
We conducted a study that included both foreign resources and resources of the CIS countries, and various specializations of online stores were selected. The goal of the study was simple: to evaluate which sales motivation tools are used and how popular they are. You can see the results in the diagram below.
As you can see in the diagram, a block with the offer of goods of the week / day is used on 35% of the studied sites; 13% of sites prefer blocks with the most popular products; in 17% of cases, cross / up-sales tools were used; on 33% of sites blocks with the offer of goods are not provided. Also, 2% of online stores used the ShopDataMining tool (we will discuss its characteristics below).
It is obvious that new steps are needed in the following areas: a more targeted approach to the visitor and the return to the site of visitors who left without a purchase.
An important role in the individual approach to the client of the online store today can play a new offer ShopDataMining- additional functionality for the online store, allowing, based on the analysis of cookies and visitor logs, to demonstrate the most relevant product in the corresponding block of the site. This tool allows you to analyze user visits to online stores (including previous visits to your store), trading floors, and similar resources. Thus, the history of the search and selection by each specific customer of the goods that he currently wants to purchase is used. An online store that uses this innovative tool does not just offer the visitor a choice of “new product”, “most popular product” or “special offer” - he offers him a ready-made selection of products that match his search as closely as possible. This is undoubtedly
An example of the operation of this tool we can see below. It should be noted that in this case only part of the ShopDataMining features is shown (the analysis of the logs and cookies stored when visiting other sites is not shown here, focuses on re-visiting your own site).
Figure 1 shows the product that was studied during the first visit to the site. Figures 2 and 3 illustrate the repeated visit to the site: in the blocks “previously viewed products” (on the internal pages of the site) and “you might also like” (on the main page), the goods studied earlier are displayed.
The described functionality of ShopDataMiningis also a good addition to the recently launched Google AdWords innovative toolkit - “remarketing” (retargeting). For those who have not yet used remarketing from Google AdWords in their daily work (hereinafter simply referred to as “remarketing”), we will describe in a few words the principle of its operation. The remarketing service allows you to influence those visitors to the online store who have left it without making a purchase (visitors can be “flagged” at different stages of an unfinished purchase or under other conditions). After such visitors leave your site, they begin to receive advertisements on the Google AdWords Display Network with various offers based on the products they searched for or tried to buy in your store. At one point, the buyer has a period, when he is ready to make a purchase. Given the breadth of the Google AdWords network, there is a high probability that at that moment this particular user will again see your online store and follow it through the appropriate link. Thus, the product allows you to influence the consumer until the last stage of the purchasing decision process.
Back to Google’s ShopDataMining user and remarketing tandem . So, the buyer, having searched for the offer on your site, nevertheless leaves it and continues the further search. As a result, under the influence of remarketing, he returns to your store. You have the opportunity to make a “control shot”: here you offer him, not just one of the products that he saw at you earlier or similar to him, but a selection of goods with refined search criteria that will bring him as close as possible to making a purchase from you .
If we talk about the potential market share of ShopDataMining, then based on the chart above - this is 33%. Why exactly this figure? It is on 33% of sites that do not use sales motivators. However, in the current highly competitive environment, the struggle for the customer is intensifying every day and more and more online store owners are realizing that to increase conversion it is necessary to use the latest tools to increase customer activity.
However, the relevance of cross / up-sell and dynamic badging is by no means lost. And the author is convinced of the need for a balanced application of all the described (and not only) tools to reduce the site's bounce rate and increase the conversion rate, which, undoubtedly, leads to an increase in the number of sales and, accordingly, the store’s profit.
The most common ways to increase online store sales are
well-known cross / up-sells tools and dynamic badging based on the promotion of "hits" and "new" sales.
To increase additional purchases from existing customers, use cross / up-sells tools, also known as “recommendation banners” (“they also buy with this product”, “visitors also choose”). Such blocks were used on 17% of the studied sites. The location of such banners at the first step of placing an order or at the final stage - after order confirmation is considered to be the most effective. However, this tool brings a tangible effect only with the skillful determination of the relationships for the formation of the proposal. Either complementary products (consumables, product care products, etc.), or substitute products (products that perform the same functions), but of higher value, or simply similar products, but also of a higher price segment, should be offered. . The offer of goods with the same characteristics and the same price category will only confuse the buyer, which increases the risk of not completing the purchase. In the same way, it makes no sense to offer goods with a cost an order of magnitude higher than that of a product chosen by the visitor - this reduces their confidence in the “recommendation banner” and minimizes the desire to purchase something additional.
Below we can see how “recommendation banners" uses ozon.ru. Here, at the first stage of placing an order, a block “You may also like it” appears, where books of a similar theme are offered.
Another popular way of stimulating sales among online stores is dynamic banners / blocks based on the offer of “new products”, “best-selling products” or “special offers”. These blocks were seen on 48% of the sites studied. You need to be aware that visitors to your store can easily distinguish between a “novelty” or “best-selling product” from an obsolete, outdated, or simply the most expensive one. Such a deception on your part is not only unethical, but will alienate visitors from your “profitable” offers, and maybe from the store as a whole. And then the profitable areas of your resource occupied by dynamic banners will simply reduce, not increase your income. Dynamic banners are a really powerful conversion tool. but it will bring benefit only with "true" use. Each type of dynamic banner is targeted to a specific type of visitor (buyer). And if the “new products” and “special offers” are really used to generate demand, then banners with “the most popular goods” cannot be used for this - they are designed to support demand, because they are also popular products that already come in the taste of many of your customers.
The use of this tool can be seen on the site citilink.ru. On the main page of the site there are blocks “Product of the day”, “Popular in the TOP-100”.
To summarize, the “recommendation banners” are designed to sell the visitor a more expensive product, or something in addition to the one already selected (a classic example, these are recommendations to buy spare ink cartridges for the selected printer). In turn, dynamic banners are a targeted approach to visitors to an online store, as well as a way to smooth out the level of demand for goods within their life cycle.
We conducted a study that included both foreign resources and resources of the CIS countries, and various specializations of online stores were selected. The goal of the study was simple: to evaluate which sales motivation tools are used and how popular they are. You can see the results in the diagram below.
As you can see in the diagram, a block with the offer of goods of the week / day is used on 35% of the studied sites; 13% of sites prefer blocks with the most popular products; in 17% of cases, cross / up-sales tools were used; on 33% of sites blocks with the offer of goods are not provided. Also, 2% of online stores used the ShopDataMining tool (we will discuss its characteristics below).
It is obvious that new steps are needed in the following areas: a more targeted approach to the visitor and the return to the site of visitors who left without a purchase.
An important role in the individual approach to the client of the online store today can play a new offer ShopDataMining- additional functionality for the online store, allowing, based on the analysis of cookies and visitor logs, to demonstrate the most relevant product in the corresponding block of the site. This tool allows you to analyze user visits to online stores (including previous visits to your store), trading floors, and similar resources. Thus, the history of the search and selection by each specific customer of the goods that he currently wants to purchase is used. An online store that uses this innovative tool does not just offer the visitor a choice of “new product”, “most popular product” or “special offer” - he offers him a ready-made selection of products that match his search as closely as possible. This is undoubtedly
An example of the operation of this tool we can see below. It should be noted that in this case only part of the ShopDataMining features is shown (the analysis of the logs and cookies stored when visiting other sites is not shown here, focuses on re-visiting your own site).
Figure 1 shows the product that was studied during the first visit to the site. Figures 2 and 3 illustrate the repeated visit to the site: in the blocks “previously viewed products” (on the internal pages of the site) and “you might also like” (on the main page), the goods studied earlier are displayed.
The described functionality of ShopDataMiningis also a good addition to the recently launched Google AdWords innovative toolkit - “remarketing” (retargeting). For those who have not yet used remarketing from Google AdWords in their daily work (hereinafter simply referred to as “remarketing”), we will describe in a few words the principle of its operation. The remarketing service allows you to influence those visitors to the online store who have left it without making a purchase (visitors can be “flagged” at different stages of an unfinished purchase or under other conditions). After such visitors leave your site, they begin to receive advertisements on the Google AdWords Display Network with various offers based on the products they searched for or tried to buy in your store. At one point, the buyer has a period, when he is ready to make a purchase. Given the breadth of the Google AdWords network, there is a high probability that at that moment this particular user will again see your online store and follow it through the appropriate link. Thus, the product allows you to influence the consumer until the last stage of the purchasing decision process.
Back to Google’s ShopDataMining user and remarketing tandem . So, the buyer, having searched for the offer on your site, nevertheless leaves it and continues the further search. As a result, under the influence of remarketing, he returns to your store. You have the opportunity to make a “control shot”: here you offer him, not just one of the products that he saw at you earlier or similar to him, but a selection of goods with refined search criteria that will bring him as close as possible to making a purchase from you .
If we talk about the potential market share of ShopDataMining, then based on the chart above - this is 33%. Why exactly this figure? It is on 33% of sites that do not use sales motivators. However, in the current highly competitive environment, the struggle for the customer is intensifying every day and more and more online store owners are realizing that to increase conversion it is necessary to use the latest tools to increase customer activity.
However, the relevance of cross / up-sell and dynamic badging is by no means lost. And the author is convinced of the need for a balanced application of all the described (and not only) tools to reduce the site's bounce rate and increase the conversion rate, which, undoubtedly, leads to an increase in the number of sales and, accordingly, the store’s profit.