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Top 3 tips to cut out data detours
Turns out data may be doing more to harm retailers' bottom lines that many thought. While data simplifies personalized campaign creation and website experiences, new data out from Baynote indicates data can also detour shoppers out of the purchase funnel.
Shoppers are landing on retailers' sites every minute of every day - some from social networks and some because of organic search results. But what makes them stay and what makes them purchase? And what may drive them away? According to a new Baynote report:
• 92% of shoppers trust 'earned media' - personal recommendations, etc
• 63% use smartphones to browse or research potential buys
• 30% of online retailers have conversion rates over 4%
• Ecommerce is expected to bring in $294 billion by year's end
While those are all positive findings, the data also shows most (84%) of shoppers are influenced by negative reviews - to leave a store or buy another product - and about one-quarter say they've abandoned shopping carts because check-out systems were too long.
How can retailers simplify things so customers aren't detoured out of a purchase?
First, Baynote's experts suggest making checking simple. They note a Statista study in which 21% of shoppers said they abandoned checkouts because the process was too long or because they were forced to log in.
Second, close the cart. "Abandoned cart emails are rising in popularity. Use the data you have about your shopper and personally remind them of what they left in their cart. Encourage them to act on that cart with promotions and other time-sensitive offers," write the experts.
Finally, capture the feedback - especially reviews from actual shoppers/buyers. Research shows personal reviews top the list of things that influence purchases so use those reviews to your advantage.
Image via Shutterstock
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