Thanks to the internet, people can now buy almost anything, at any time and in any physical place. Understanding the questions that concern clients before purchasing online is a key driver of ecommerce. It helps us understand the leading factors and establish the right ecommerce KPIs for your business.
Here are some of the questions customers ask before purchasing online:
♦ Do I trust the website? Is it completely legal? Is it secure enough to carry out financial transactions?
♦ What is the delivery and return policy? How many days will shipping take? What if the product will not be what I expected? How will the store refund (credit or replacement)? Who pays for the shipping to return the product?
♦ What is the final price of the products including all additional costs? Is this the best available deal?
♦ Is there enough information on the website to make a purchasing decision?
♦ Why am I actually buying this? Do I really like it? What if I have questions about the product?
What are the Key Drivers of eCommerce?
Understanding the leading factors in successful ecommerce can help businesses deliver better service to customers and gain a clear idea of the right ecommerce KPIs (Key Performance Indicators) to track. Some of the most important drivers in ecommerce are:
♦ Imperceptible movement from PC to mobile devices to the store. For better engagement with customers and relevant customer experience, online retail has to optimize the mobile user experience and be there for the customer during the entire buying journey.
♦ Omnichannel SaaS solutions for all commercial operations. It’s worth using a single commerce platform. By adopting only one cloud platform the business can, in the future, remove the need for system integrations. This also allows for the reduction of operational costs and gains real-time visibility. Thus the online retail business can deliver more advanced services faster because of three main factors: scalability, intricacy, and velocity – which are crucial key drivers of ecommerce.
♦ Implementing personalized promotions based on real-time data. This allows the business to improve the customer experience and sell more. Targeting offers and communications reassures clients that only one single version of the truth exists.
♦ A trustworthy website. This should be considered as one of the most important key drivers of ecommerce. According to research 6 out of 10 online buyers are concerned about online security. Shoppers need to clearly understand the warranty conditions and shouldn’t have any doubts about the security of the source. The security certificate should be displayed on the website.
♦ An intelligent way to track and manage orders inside of the company as well as physical delivery to clients. Every online retailer should have very clear shipping and returns policies. 65% of users feel that returning products purchased online is a difficult process. Also, 61% of customers state that they would abandon a shopping cart if it didn’t offer free delivery. It is good to have centralized order management across all channels, real-time inventory and globally connected suppliers and distribution partners.
Key eCommerce KPIs (Key Performance Indicators) to Track
To ensure you’re hitting the above key drivers and answering your customers’ questions to their satisfaction, it’s important to define some ecommerce KPIs to track. Some ideas could be:
- Conversion rate — this tells you if your sales process is doing its job and customers are taking the desired action (such as making a purchase)
- Conversion rate by device type — this helps you understand which devices customers are having success with and helps you provide smoother movement between devices
- Shopping cart abandonment rate — this tells you if customers are turning back on a purchase at the last moment, and can give insight into why (for example, lack of trust or no free delivery)
- Customer satisfaction score — this is a clear way of finding out how customers are feeling and whether their questions about your brand are being answered properly
How Do Conversational Sales and Marketing Help Drive eCommerce?
Omnichannel solutions like live video broadcasts, interactive selling platforms, virtual showrooms, online chat, and co-browsing are key drivers of ecommerce and fit really well into a wider Conversational Marketing and Sales strategy.
Whisbi is the only company that integrates all of these into one universal Conversational Sales and Marketing solution, bringing the real store experience online.
Find out more about how Three UK is using a Live Broadcast solution to sell more online and increased their conversion rate 5 times!