ShopDataMining - as the last word in increasing site conversion
Every year the share of e-commerce increases and, accordingly, the competition between online stores increases. Considering that the number of Internet users is no longer growing at such a fast pace, it is necessary to constantly optimize and improve the mechanisms for not only attracting visitors, but also their service directly on your website. That is why, more and more often the question arises how to reduce the failure rate of an online store and increase conversion. Below we will look at some already familiar mechanisms for increasing sales on the site, and also introduce you to some 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 badges based on the promotion of “hits” and “new products” of sales.
To increase additional purchases from existing customers, cross / up-sells tools are used, also known as “reference banners” (“they also buy with this product”, “visitors also choose”). Such blocks were used on 17% of the studied sites. The most effective is considered to be the location of such banners on the first step of placing an order or at the final stage - after confirming the order. However, this tool brings tangible effect only with the skillful definition of relationships for the formation of a sentence. It should be offered either complementary goods (consumables, goods care products, etc.), or substitute goods (products that perform the same functions), but of higher cost, or simply similar goods, but also of a higher price segment. . The offer of goods with the same characteristics of the same price category only confuses the buyer, which increases the risk of not completing the purchase. Likewise, it makes no sense to offer products with an order of magnitude higher than the product selected by the visitor - this reduces his confidence in the “recommendation banner” and minimizes the desire to purchase something extra.
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Below we can see how “banner-recommendations” uses ozon.ru. Here, at the first stage of placing an order, a block “You may also like it” appears, where books of similar subjects are offered.
Another popular way to stimulate sales with online stores is dynamic banners / blocks based on the offer of “new products”, “best-selling goods” or “special offers”. These blocks were observed on 48% of the sites studied. You need to be aware that visitors to your store can easily distinguish a “novelty” or “best-selling product” from an obsolete, stale, or simply the most expensive one. Such a deception on your part is not only not ethical, but also alienates visitors from your “profitable” offers, and maybe from the whole store. And then the profitable areas of your resource occupied by dynamic banners will simply reduce, and not increase your income. Dynamic banners are a really powerful conversion tool, but it will bring benefits only with “true” use. Each type of dynamic banner is targeted to a specific type of visitor (buyer). And if the “new items” and “special offers” are really used to create demand, then banners with the “most popular products” can in no way be used for this - they are designed to support demand, because they are popular products that already taste to many of your customers.
Use of this tool can be seen on the website citilink.ru. On the main page of the site there are blocks “Product of the Day”, “Popular in TOP-100”.
If we sum up a little, the “recommendation banners” are designed to sell a more expensive product to the visitor, or something in addition to the one already selected (a classic example is recommendations to buy replacement ink cartridges for the selected printer). In turn, dynamic banners are a targeted approach to online store visitors, as well as a way to smooth the level of demand for products within their life cycle.
We conducted a study that included both foreign resources and resources of the CIS countries, selected various specializations of online stores. The purpose 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 can be seen in the diagram, 35% of the studied sites use a block with the offer of goods of the week / day; 13% of sites prefer blocks with the most popular products; in 17% of cases, the cross / up-sales tools were used; at 33% of sites, blocks with the supply of goods are not provided. Also, 2% of online stores used the ShopDataMining tool (its characteristics will be discussed below).
It is quite obvious that new steps are needed in the following directions: a more targeted approach to the visitor and a return to the site of visitors who have gone without a purchase.
ShopDataMining can play an important role in an individual approach to an online store customer today - an additional functionality for an online store, which allows, based on analyzing cookies and visitor logs, to display the most relevant product in the corresponding site block. This tool allows you to analyze user visits to online stores (including previous visits to your store), marketplaces and similar resources. Thus, the search and selection history is used by each specific customer for the goods he currently wishes to purchase. The online store that uses this innovative tool does not simply offer the visitor a choice of “new”, “most popular product” or “special offer” - it offers him a ready-made selection of products that most closely correspond to the search he has done. This undoubtedly attracts his attention and allows starting from the first seconds of being on the site to start studying specific offers, rather than go into the wilds of the categories of products that you offer in your store.
An example of the work of this tool we can see below. It should be noted that in this case only part of the capabilities of ShopDataMining is shown (here the analysis of logs and cookies saved when visiting other sites is not shown, emphasis is placed on returning to your own site).
Figure 1 shows the product, which was studied at the first visit to the site. Figures 2 and 3 illustrate the re-visit of 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 product studied earlier is shown.
The described ShopDataMining functionality is also a good addition to the recently introduced innovative Google AdWords toolkit - “remarketing” (retargeting). For those who have not yet used Google AdWords remarketing in their daily work (hereinafter simply “remarketing”) we will describe in a few words the principle of its operation. The remarketing service allows you to influence those visitors of the online store who left it without making a purchase (visitors can be “tagged” at different stages of an unfinished purchase or under other conditions). After these visitors leave your site, they begin to broadcast advertisements on the Google AdWords Display Network with various offers based on the products they were looking for or trying to buy in your store. At one fine moment, the buyer has a period when he is ready to make a purchase. Given the breadth of coverage of the Google AdWords network, there is a high probability that at this moment your online store will again come across this particular user, and he will follow it through the appropriate link. Thus, the product allows you to influence the consumer right up to the last stage of the purchasing decision process.
Let's go back to the tandem ShopDataMining user and remarketing from Google AdWords. So, the buyer, having made the search for the offer on your site, still leaves it and continues the further search. In the end, under the influence of remarketing, he returns to your store. You have the opportunity to make a “test shot”: and here you are offering him not just one of the products he saw with you before or similar to him, but a selection of products with refined search criteria that will bring him as close as possible to making purchases from you .
If we talk about the potential market share of ShopDataMining , then based on the diagram above, it is 33%. Why exactly this figure? It is on 33% of sites that sales motivators are not used. However, in the current highly competitive conditions, the struggle for the customer is intensifying every day and more and more owners of online stores are aware that in order to increase conversion it is necessary to use the latest tools to increase consumer 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 failure rate and increase the conversion level, which undoubtedly leads to an increase in the number of sales and, accordingly, the store profit.
The most common ways to increase online store sales are
well-known cross / up-sells tools and dynamic badges based on the promotion of “hits” and “new products” of sales.
To increase additional purchases from existing customers, cross / up-sells tools are used, also known as “reference banners” (“they also buy with this product”, “visitors also choose”). Such blocks were used on 17% of the studied sites. The most effective is considered to be the location of such banners on the first step of placing an order or at the final stage - after confirming the order. However, this tool brings tangible effect only with the skillful definition of relationships for the formation of a sentence. It should be offered either complementary goods (consumables, goods care products, etc.), or substitute goods (products that perform the same functions), but of higher cost, or simply similar goods, but also of a higher price segment. . The offer of goods with the same characteristics of the same price category only confuses the buyer, which increases the risk of not completing the purchase. Likewise, it makes no sense to offer products with an order of magnitude higher than the product selected by the visitor - this reduces his confidence in the “recommendation banner” and minimizes the desire to purchase something extra.
')
Below we can see how “banner-recommendations” uses ozon.ru. Here, at the first stage of placing an order, a block “You may also like it” appears, where books of similar subjects are offered.
Another popular way to stimulate sales with online stores is dynamic banners / blocks based on the offer of “new products”, “best-selling goods” or “special offers”. These blocks were observed on 48% of the sites studied. You need to be aware that visitors to your store can easily distinguish a “novelty” or “best-selling product” from an obsolete, stale, or simply the most expensive one. Such a deception on your part is not only not ethical, but also alienates visitors from your “profitable” offers, and maybe from the whole store. And then the profitable areas of your resource occupied by dynamic banners will simply reduce, and not increase your income. Dynamic banners are a really powerful conversion tool, but it will bring benefits only with “true” use. Each type of dynamic banner is targeted to a specific type of visitor (buyer). And if the “new items” and “special offers” are really used to create demand, then banners with the “most popular products” can in no way be used for this - they are designed to support demand, because they are popular products that already taste to many of your customers.
Use of this tool can be seen on the website citilink.ru. On the main page of the site there are blocks “Product of the Day”, “Popular in TOP-100”.
If we sum up a little, the “recommendation banners” are designed to sell a more expensive product to the visitor, or something in addition to the one already selected (a classic example is recommendations to buy replacement ink cartridges for the selected printer). In turn, dynamic banners are a targeted approach to online store visitors, as well as a way to smooth the level of demand for products within their life cycle.
We conducted a study that included both foreign resources and resources of the CIS countries, selected various specializations of online stores. The purpose 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 can be seen in the diagram, 35% of the studied sites use a block with the offer of goods of the week / day; 13% of sites prefer blocks with the most popular products; in 17% of cases, the cross / up-sales tools were used; at 33% of sites, blocks with the supply of goods are not provided. Also, 2% of online stores used the ShopDataMining tool (its characteristics will be discussed below).
It is quite obvious that new steps are needed in the following directions: a more targeted approach to the visitor and a return to the site of visitors who have gone without a purchase.
ShopDataMining can play an important role in an individual approach to an online store customer today - an additional functionality for an online store, which allows, based on analyzing cookies and visitor logs, to display the most relevant product in the corresponding site block. This tool allows you to analyze user visits to online stores (including previous visits to your store), marketplaces and similar resources. Thus, the search and selection history is used by each specific customer for the goods he currently wishes to purchase. The online store that uses this innovative tool does not simply offer the visitor a choice of “new”, “most popular product” or “special offer” - it offers him a ready-made selection of products that most closely correspond to the search he has done. This undoubtedly attracts his attention and allows starting from the first seconds of being on the site to start studying specific offers, rather than go into the wilds of the categories of products that you offer in your store.
An example of the work of this tool we can see below. It should be noted that in this case only part of the capabilities of ShopDataMining is shown (here the analysis of logs and cookies saved when visiting other sites is not shown, emphasis is placed on returning to your own site).
Figure 1 shows the product, which was studied at the first visit to the site. Figures 2 and 3 illustrate the re-visit of 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 product studied earlier is shown.
The described ShopDataMining functionality is also a good addition to the recently introduced innovative Google AdWords toolkit - “remarketing” (retargeting). For those who have not yet used Google AdWords remarketing in their daily work (hereinafter simply “remarketing”) we will describe in a few words the principle of its operation. The remarketing service allows you to influence those visitors of the online store who left it without making a purchase (visitors can be “tagged” at different stages of an unfinished purchase or under other conditions). After these visitors leave your site, they begin to broadcast advertisements on the Google AdWords Display Network with various offers based on the products they were looking for or trying to buy in your store. At one fine moment, the buyer has a period when he is ready to make a purchase. Given the breadth of coverage of the Google AdWords network, there is a high probability that at this moment your online store will again come across this particular user, and he will follow it through the appropriate link. Thus, the product allows you to influence the consumer right up to the last stage of the purchasing decision process.
Let's go back to the tandem ShopDataMining user and remarketing from Google AdWords. So, the buyer, having made the search for the offer on your site, still leaves it and continues the further search. In the end, under the influence of remarketing, he returns to your store. You have the opportunity to make a “test shot”: and here you are offering him not just one of the products he saw with you before or similar to him, but a selection of products with refined search criteria that will bring him as close as possible to making purchases from you .
If we talk about the potential market share of ShopDataMining , then based on the diagram above, it is 33%. Why exactly this figure? It is on 33% of sites that sales motivators are not used. However, in the current highly competitive conditions, the struggle for the customer is intensifying every day and more and more owners of online stores are aware that in order to increase conversion it is necessary to use the latest tools to increase consumer 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 failure rate and increase the conversion level, which undoubtedly leads to an increase in the number of sales and, accordingly, the store profit.
Source: https://habr.com/ru/post/167703/
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