Data and statistics are empowering for marketers. Without the information about the data, guess would be the only thing available to make strategic decisions. However, that doesn’t always work. Marketing policies based on guess hardly make any sustainable growth. Especially when it comes to eCommerce, marketing has a huge role to play.
That’s where data comes into play.
When marketing strategy is based on data and stats, it can help in increasing the sales of a company, decrease the customer acquisition cost and make a positive brand image in the industry. So, to help you out in making an effective eCommerce marketing strategy, we have come up with these useful eCommerce statistics.
1. People Love Free Delivery
There is no better way of keeping your customers happy than to offer free delivery. Nearly 53% of people stated free delivery is the top reason for shopping online. Other reasons people stated were the usage of discount coupons, availability of reviews by other customers, ease to return the product, and a short checkout process.
If you have to charge the delivery charges, keep it to the minimum. It is observed that 28% of the customers will leave their shopping cart if the delivery charges are more than their expectations. To decrease cart abandonment, for this reason, it’s better to show the shipping charges at an early stage of the funnel so that it doesn’t come as a surprise to them. By the way, 85% of the customers like free shipping over fast shipping, so you have to be careful about it.
2. The success of follow up emails to people who abandoned their cart
Shoppers leave their card for many reasons, such as inability to apply the coupon they have, not having their favorite payment method at checkout, long checkout process, unexpected delivery charges, and many more.
However, the good news is you can still give it a try to close these sales. Abandon cart emails have an open rate of approximately 41%. By reaching out to the shoppers again with a reminder that they have items in their cart or giving them a special offer, you can increase the sales.
You can also see this as retargeting. You can decrease your acquisition cost by retargeting the old customers, get a better return on investment, great customer retention, and higher spend rates. What more an eCommerce business owner can ask for.
If you are not using retargeting, it’s time to add this to your marketing strategy. There are different ways you can retarget the customers, such as email marketing, advertisements, social media marketing, and others.
3. Reviews Matter
Reviews are helpful for an eCommerce business in so many different ways. For example, 31% of the customers are willing to pay more for a product that has great reviews by other shoppers. If you are not leveraging the power of reviews in your marketing strategy, it’s time to step up the marketing plan.
When you show that people like a particular product, it gives social proof to the shoppers that the product is useful. When people feel stuck, the review section is the first place where they can make a better and informed decision. The role of reviews is not limited to aiding in making a buying decision. Reviews help in SEO efforts, building trust with the shoppers, and driving more sales.
This is why many eCommerce companies even pay reward points or cashback for adding reviews to the customers for the products they purchased.
4. Don’t Force People to Create Account
23% of people will not buy the products if asked to create a new account during the checkout process. Thus, if you have not enabled people to purchase as a guest, do it right away. Although you have successfully impressed the customers with your brand and product, don’t let them go for reasons you can improve.
Simply by allowing guest checkout, you can capture the customers who are in a hurry and want to buy products. When you force shoppers to create an account, they might consider it a time-consuming process and leave your site.
Who doesn’t love discounts? We all love when we get our favorite products at a discount. However, nearly 41% of the customers would change their decision and buy abandoned products in their cart. If you see that many people are leaving a particular item in the cart, it is time to rethink the price of the item.
You don’t have to give a huge discount of 70% to make a difference. Instead, you can remind the customers through push notifications or mail that you are giving them a special 5% discount on the item. This small step can help you to increase sales and customer spends. In eCommerce, there is no better way of growing more than selling more brand products.
Lastly, use these stats when you make your marketing strategy for the next quarter. This will help you reduce your acquisition cost per customer, help you reduce the abandoned cart rate, and increase sales in many ways. When you market your products by putting yourself in your customers’ shoes, you can win more customers.
Now it’s time to implement the new strategy prepared according to the stats, data, and research.
About the Author: Kabir Gaur is the Growth Manager of RVS Media Ltd, award-winning web development and digital marketing agency based in London. The company aims at providing affordable web solutions and help businesses to take their business online.
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