We hope that you’ve already come across part 1 of iWeb Live 2019 and now you’re eager to learn more. The second part of the day involved lots more familiar faces from the eCommerce scene including Klarna, Akeneo, Nosto, Yotpo, Klevu, AWA Digital and Alteryx. This post will run you through more actionable tips to boost your online business, with lots that you can implement today!
Haven’t already read part 1 of iWeb Live 2019? Go and have a read.
To kick off the second half of the day, payments specialists Klarna, discussed how we can cater our eCommerce sites for the ‘immediate gratification generation’. But what is the immediate gratification generation?
To put it simply, we’re the “I want it now” generation. We seek instant gratification. We expect so much. Our attention span is short and so, merchants need to learn how to give consumers the information they want, quickly. The consequence, if users can’t find what they want, is simply that they will leave and find it elsewhere.
53% of mobile visitors leave a website if it doesn’t load in 3 seconds. (This is even higher for the 18-24-year-old age category, at 60%). – Klarna
What’s more worrying, particularly when looking at it from a sales side, is where consumers tend to exit your website. This is often within the checkout process, i.e. the place you’d presume they’re most likely to convert and generate sales.
Often users can find checkout processes too much like hard work with too many steps to take, limited delivery options and complicated, clunky forms to fill out.
45% of consumers abandon the cart if there is a long checkout process. 56% of 18-34 yr olds expect to have same day delivery. – Klarna
Thankfully, there are ways you can reduce the number of steps and complexity of the checkout process by implementing one-step checkout like eCommerce powerhouse Amazon, prefilling user details after they’ve used the service once with Klarna and integrating with top shipping companies (like ShipStation).
So, now that you know some of the things you can do to prevent customers from ditching their goods, let’s take a closer look into the benefits of Klarna specifically:
The seventh talk of the day was by James Barlow from Akeneo on how Product Experience Management is the Linchpin of Your eCommerce Strategy. Though many merchants within the eCommerce world have great products and services on offer and even a brilliant, speedy, up-to-date online store that the user can browse, they often fall short when it comes to having the right systems in place to manage everything else in the background.
When you think of Amazon, it can be quite daunting to even comprehend the number of products they have readily available to buy on their site and that’s just considering their UK products.
Having such a wide choice of products requires a CRM system that can handle this product data to ensure your consumers are getting the accurate information that they require. After all, your product information is your brand identity so it’s important you get it right.
More often than not, product details can be lacking, users can be sent the wrong items due to issues with CRM and operations and consumers can find the emotional aspect of shopping to be lacking when it comes to online buying. That’s because product experience is a quest but thankfully, there’s a way you can go about tackling it so you’re effective and generate success aka sales: implement a PIM (Product Information Management) system.
PIM is the CRM for your product data. – Akeneo
PIM systems like Akeneo collect your product information from any data source, enrich and control it before distributing it to multiple channels. That way you can be where your customers want you to be.
Akeneo PIM works at 3 levels to collect and sort through your product information so that you can easily get the right information in front of the right people at the right time.
Akeneo have helped reduce time to market from 9 months to 50 minutes with their highly efficient PIM system.
As Akeneo PIM partners, iWeb can help you consolidate all of your data into one easy to use solution. Better product information means more purchases and fewer returns.
Contact us today for a consultation on how Akeneo PIM can help overhaul your product management.
Next up was Max Imfeld from Nosto to explain 5 of the best personalisation tactics that you can implement this month. We know that consumers are itching for a more personalised buying experience and it’s becoming an increasingly important factor in determining whether or not your consumer will become your customer.
When we analyse both transactional and behavioural data, we find that transactional data only accounts for 1.6% of data generated by shoppers. That leaves a whole load of space for behavioural data which is where you should look to find individual buying habits that you can then cater for through personalisation.
The ninth talk of the day was from Yotpo teaching us that the future of commerce is brand commerce. But, before we get into the details of the talk, it’s important to know what D2C selling is.
D2C stands for direct-to-consumer and is when the brand sources or manufacturers a white label product and then sells it directly to the customer, usually via a website. That’s different from B2C selling which usually contains a “middle man” like Amazon.
So, as we’ve previously mentioned, Amazon is the big retailer but has no connection with brands. Brands are becoming the key differentiator as it’s not just about the products anymore. You could be selling your product via your own website and also selling through Amazon, though the consumer may buy through Amazon as they prefer the shopping experience with that retailer over your brand.
Although that might seem like a hindrance to your company, it opens an opportunity for you to set up and offer exceptional service and customer care so that you become their preferred way to buy your goods. Amazon can no longer compete on just prices and products alone.
It wouldn’t be a surprise if, in 7 years from now there is only Amazon and then brands (which Amazon will sell). Anyone selling 3rd party products will die as we’ve sadly seen with Toys R Us. – Yotpo
There are multiple ways that brands can stand out from their competitors, though some of the most popular and easy to implement tactics include:
— iWeb (@iWebtweets) June 5, 2019
Moving on to our tenth talk by Markiyan Caseley from Klevu, we received actionable tips to boost our revenue through eCommerce site search. Search is growing in importance. From the various other talks we’ve witnessed, it’s clear consumers are more demanding than previous years; they want to feel special and catered for and search is a critical component of creating an overall great buying experience.
Search is important as 43% of shoppers head straight for the search box when browsing for a product. As a result, we see search converts 3x more than a category led journey. – Klevu
Without a good site search, you’re neglecting 43% of your shoppers and making their chances of buying with you a lot less likely from the get-go. They aren’t able to tell you what they want which makes finding your products hard and likewise for you, directing a shopper to where you want them to go, proves equally as difficult.
Implementing an in-depth site search plugin can help you to learn what your customers want which is a necessity in the evolving eCommerce climate if you want to be successful. So, with that in mind, let’s see some of the quick wins to boost your revenue through eCommerce site search.
Quick wins to boost revenue through site-search:
Learn more about the importance of consumer curiosity in iWeb Live 2019 – Part 1.
Next up was AWA Digital to highlight dumb mistakes that we pretty much all make when it comes to CRO. Let’s dive into four of them below:
Lots of us who work with and on eCommerce sites will initially obsess over the page layout. After all, we want our websites to look visually mind-blowing. However, when it comes to a consumer making a purchase, there’s plenty of other factors aside from page layout that will cause them to convert.
Make sure that you focus on every aspect of having an eCommerce website, particularly focusing on fixing any flaws that consumers want to bring up in reviews.
Most decisions are made by emotions and are then rationalised. System one thinking is the emotional aspect. Users have an interest or feel some kind of way about a product or service you are offering. They will then go to your site, browse your goods, see how easy it is to buy with you and how much value they’ll get from you and your product and will then make the decision whether to pursue the purchase or not. That is system two thinking, the logical side.
There’s no point in running marketing campaigns and trying to monitor your website’s data if it’s not going to give accurate results. Too often we come across sites that have Google Analytics set up incorrectly and so it’s skewing figures and giving inaccurate representations of your current business state.
Your Google Analytics account is vital to helping you spot key findings in your data and so it’s vital that you have it set to exclude any unwanted data like office data so that you have a clear idea of how you’re performing to help make decisions moving forward.
Finally, with anything, mistakes can be made. However, when it comes to your business, it’s important to get it right. Particularly within the development of your site or even of new processes that you’re trialling, you should be carrying out split-tests to really see what is going to work best for you.
Not only should you run tests but it’s important that you run multiple tests to really see whether you’re getting the same results or if anomalies occur.
You should also have a system in place to prioritise ruthlessly and ‘kill’ tests after a certain period if positive results are not seen – suggested time frame of 2 weeks to see positive results.
The final talk of the day is from Alteryx, giving us the answer to our eCommerce prayers. *Cue the angelic music*. Although lots of us have probably heard of the big names above, Alteryx is fairly new to our clients, so who are they and what do they do?
Alteryx makes it easy for data analysts to make critical business decisions and streamline reconciliation processes by combining data from multiple sources into one user-friendly interface. Unlike similar solutions on the marketplace, with Alteryx there’s no coding required which makes it super easy for businesses to implement – that’s whether you have high-class developers or not.
Once Alteryx is in place, it allows you to automate time-consuming, manual data tasks such as billing and invoicing. You can track your data sources at every step to optimise your workflows and make your life easier.
The final talk of the day is by Phil from @alteryx 😁… We’re learning about the answer to our eCommerce prayers 🙏 👏🏼
— iWeb (@iWebtweets) June 5, 2019
Fancy a free trial? Alteryx are offering a free trial to all of our clients, so speak with us to learn more or sign up for your free trial now.
Thanks again to all of the speakers, sponsors, attendees and of course staff members who helped to make iWeb Live 2019 such a success. Keep your eyes peeled for the next event and in the meantime, get implementing the above. Remember, we’re always here to help, just get in touch!