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Why and How Do Retail Businesses Include Online Shopping 

e-commerce online

Why and How Do Retail Businesses Include Online Shopping 

Online shopping is growing at a rather rapid rate. More people are ditching buying from physical stores and embracing the convenience of shopping from the comfort of their homes. As a retailer focused on taking your business to the next level, including an online shop could be all you need to do. Continuing to ignore the wave can only hurt the growth of your business. Here is why you should be seriously thinking about an online store as well as how to start one. 

Why include online retail

The benefits of online shopping aren’t only reserved for the customer. We highlight some top reasons why e-commerce is a good route for your retail business using Retail billing Software:

·         Wider coverage

The internet eliminates geographical limitations for your business. When you start selling online, you aren’t only limited to your locality. You can reach more customers from anywhere around the globe. If you are struggling to get a market for some of your products locally, an e-commerce store can open a new market in another geographical region.

·         Reduced costs

Running an online shop comes with reduced operating costs. Customers can buy without the assistance of a salesperson. This translates to reduced salaries. Also, with an e-commerce site, you don’t need a huge fancy outlet. You can find smaller premises if you want to retain an outlet or operate entirely online, saving you rent money.

·         Easy to scale

Operating in the online space makes scaling up simple and cheaper. Unlike in a physical store where you might need to hire additional staff and rent extra floor space, all you need to do is increase the product list in an online shop. A few digital changes here and there and you are good to go.

·         Access to customer data

Meeting customer needs is paramount for every business. With an online store, you can easily collect customer data. You can then gather insights into customer preferences, behaviors and buying patterns, and more. This allows you to make data-driven decisions that meet customer expectations, enhancing customer experience significantly.

·         Better marketing

You are likely to see better results from your marketing campaigns when selling online. The customer insights stated above allow you to target your customers better with your marketing. This means that you are able to market to people with a high potential of buying your products.

How to start retailing online

To start selling online, you can decide to build your own website or sell on popular e-commerce sites such as Amazon, Etsy, Shopify, Squarespace, and the like. You can also decide to do both.

Setting up your e-commerce store

After deciding on your sales channel, the next step is to build your online shop. Decide on your domain name and check its availability. After that, you can start building the online storefront. Start by adding your products then create compelling product titles, descriptions, images, and videos. Next is to set the prices and a way of tracking inventory. You also need to think of shipping costs – which criteria you are going to use to determine the shipping costs.  

The next step is to start designing the storefront. Choose a theme based on how you want your store to feel and look. Work on the navigation, colors, and typography. Set up the checkout page and customize it to offer the best experience.

Most importantly, figure out how you are going to be paid. This is where you add a payment gateway. Include different payment methods for customers to pay. Then complete the setup by entering your banking information. For your online shop, it would benefit you to consider a modern business banking alternative. This way, you can enjoy faster and more secure payments. You also get to manage your money from a single account.

Market your online shop

After setting up your store, it is important to make it known to your target customers. One of the ways you can market your online shop is through social media. Consider using influencers to reach more people and paid ads for better targeting.

In addition, think of how your online shop can easily be found on search engines. Create valuable content enriched with keywords. You can think of video demos, how-to guides and the like. Additionally, work on having your page optimized with SEO to help in rank higher on search engines.

Conclusion

Deciding to include online shopping can only set your retail business up for exponential growth. This is because you are opening it up to a wider customer base. You can start enjoying increased sales and profits. Take the plunge and design your online shop. Then put in marketing efforts to reach your target customers around the world.

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How E-commerce Websites Can Successfully Integrate Video Production In their Digital Marketing Campaigns

Video is an enjoyable, easy-to-digest, and often, overlooked content creation strategy that converts better than any other type of content.  A landing page containing a video is bound to increase conversion rates by 80%. In addition, videos help search engine rankings and are shown to raise organic search traffic by 175%.

With the tremendous growth of e-commerce sales in the past year, brands are challenged to up their marketing strategy and create new ways to attract potential customers.

Companies that offer products online and haven’t yet started video marketing need to jump on the video production train right away.

E-Commerce State at a Glance

E-commerce rules!  In only the past year, it has generated 4.28 trillion US dollars in revenue. In the U.S only, that accounted for over 604 million US dollars.

Naturally, that drives the increase of digital shoppers as well. It’s estimated that by the end of 2021, there will be 2.14 billion global digital buyers.

It’s safe to say that we are in the era of online shopping. A time when consumers prefer to quickly browse products and services on their mobile devices and place orders that they receive the next day – no hassle, no time wasted.

For e-commerce businesses, the move towards primarily online shopping raises the bar of what counts as a good customer experience.

Simply listing your products on a website doesn’t do much for conversion anymore. There’s a need for more interactive, immersive, and truly helpful product content online. Brands have to figure out how to turn their boring offerings into entertaining story-rich experiences.

One very successful way to do that is through video marketing.

How to use video in your e-commerce marketing

Check out these tips on how you can integrate video production into your e-commerce websites and improve your brand’s bottom-line:

Product Photos Turned Videos

Put yourself in the shoes of your customers. How do you know if a product will match your needs and desires?

You would want to see it in real-life situations. A great way to show your customers how products truly benefit them, is by displaying how they look like or work in practice.

Take the clothing retailer Mother. The fashion brand goes far beyond a simple display of products and visually describes in the tiniest detail how their products look and feel in real-life situations — like walking on a treadmill for example.

Customers get a unique 360-degree view of what the products worn by a real person would look like. Not only that but they show how the clothes move when you wear them.

An awesome example of user experience taken to the next level.

How-to Product Videos

The next step in improving the quality of your e-commerce website is through creating instructional videos that show users how your products work.

These videos educate customers and help them see the value of your product. Plus, “how-to” videos are a great way to help out customer support teams.

People will have clear, visual instructions on how to use the products and will save time and frustration trying to figure it out or wait for help from your support team.

British Airways gives a great example of how you can turn instructional videos into entertaining pieces of content.

Their video features a number of celebrities to draw attention to an often overlooked but quite important aspect of traveling on airplanes.

Celebrities may not be an affordable option for any brand, but their approach can be adapted to deliver a fun and entertaining how-to video for your e-commerce business too.

Behind the Scenes Video: Let Customers be Part of the Action

What will really make your audience connect with your e-commerce business? Well – feeling connected to the mission, challenges and glam of the brand is a great place to start.

Being able to walk through your process and daily tasks, your audience will understand the efforts put into delivering an unforgettable product and experience on their behalf.

It will help show the “human” side of your company – the people that make their experience extraordinary.

For example, take a look at how Glamour Magazine takes their viewers behind the scenes of a photoshoot narrated by their Fashion Director– Natalie Hartley. She guides the audience through how their projects come together, sharing her ideas and approaches in making their photoshoots a true sensation.

The audience is drawn into the process of creating something from a scratch. Showing the efforts required for just a few pages of curated content works miracles with audiences – making them appreciate the brand’s work and increasing consumer loyalty and trust.

To improve engagement with users, try creating video content around photoshoot campaigns and special events important to your brand. Show how your products are made, where do you source your materials from – every detail that is important to your customers and see your brand recognition and loyalty skyrocket.

User-Generated Videos Promoting Sales

If your brand is getting any traction with users, they’re probably expressing opinions and leaving reviews for your products.

Leverage testimonials and encourage customers to create user-generated videos – showing how they use the products, what they like about them, and what they wish to improve with your services.

People like to hear what their peers think of a product or service. They’re more willing to trust existing customers’ opinions, rather than brands claiming to be helpful. The more genuine your user-generated videos are, the more likely they are to positively affect the purchasing decision of potential new customers.

Take GoPro for example. They create unforgettable campaigns with user-generated videos showing how their cameras operate in real life.

They even make it fun by turning the whole process into a competition – enticing participants to generate all sorts of creative ideas – like a downhill bike chase on a roof-top, for example.

People interested in GoPro’s products get to see what actually happens when the camera is on and what they can expect as quality and durability.

You can create similar user-generated videos to help your potential customers get the feeling they already know what to expect from your products and be comfortable with their purchases.

GIF’s & Videos Boosting Email Marketing Conversion

Email marketing is still one of the most effective ways to convert potential eCommerce customers.

It’s a preferred marketing tool that 80% of business professionals trust to help them increase customer retention. In addition,  59% of surveyed customers say emails influence their purchasing decision.

To continue delivering delight, surprise and value to your customer lists and prospects, however, you should consider using animated gifs and videos in your email campaigns.

Statistics show that brands that use gifs see a 6% increase in open rate and a 109% increase in revenue.  Similarly, an initial email with a video gets a click-through rate of 96%

Embedding gifs and videos in your emails will also help you personalize your messaging and deliver value specific to each user.

Here are a few examples of brands using gifs and videos in their email marketing to get you inspired:

Headspace

Netflix

Starbucks

When you create your gifs and video-embedded emails, keep in mind the average attention span of adults is about 8 seconds. For your videos to be short, create anticipation in your video, and direct the reader to a clear CTA.

To Wrap Up

E-commerce is the preferred shopping option of the modern consumer. Dull and uninspiring product lists and low-resolution images, however, are not anyone’s favorite.

To deliver a memorable, and most of all, helpful shopping experience to your customers, you need to stay on top of the latest trends. Video production is not a strategy you can afford to miss. On the contrary, if your online business hasn’t yet started using videos – it’s time.

Video content is the future of e-commerce. It’s visually appealing, interactive, and immersive. It snatches the attention of the digitally overwhelmed and makes them stay to enjoy what you offer.

Don’t waste time. Start producing video content and delight your customers. These 5 content ideas will help you integrate video production into your digital marketing campaigns. Try it and tell us how you did!

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Terry Tateossian, Founding Partner of Socialfix Media is a fourth-generation entrepreneur who is recognized as an Inc. 5000 America’s Fastest-Growing Private Companies, Forbes’ Top Women in Business, Fastest Growing Women Presidents by WPO, and 40 Under 40 Business Leaders by NJBIZ. Terry has been featured for outstanding leadership and career accomplishments in numerous industry publications as an engineer, a thought-leader in technology, and an innovator in the field of marketing. But her favorite and toughest earned title is being “Mom” to her 2 children.

customer

10 Data Science Projects E-Commerce Businesses Are Using

Today e-commerce businesses are using data science in many different areas to stay ahead of the competition. For instance, e-commerce sites are investing funds into personalizing shopbots to enhance customer experience and recommending products to buyers based on browsing habits and previous purchases.

Selling the best products only works if e-commerce businesses can identify who wants to buy them and recommend them when these customers are ready to make a purchase. Here are some ways e-commerce businesses are utilizing data science to enhance the customer experience.

1. Retain customers

One concern for every e-commerce business is customers switching to other e-commerce websites. Customer retention is crucial if a business is to expand and grow. There are many benefits from having loyal customers, such as receiving real-time feedback from them and having them recommend products or services to others.

A churn model provides metrics such as the number and percentage of customers lost to the business as well as the value and percentage of this loss. When a company is able to identify customers who are most likely to switch to a different e-commerce site, it can take actions to try and keep them.

2. Give product recommendations

Using big data analytics offers a way to understand the shopping behavior of customers and predict patterns. For example, being able to establish which brands or products are most popular when spikes in demand for certain products occur or times of the year when customers shop more can help to determine the right strategies.

Recommendation filters for a particular user are based on past searches, purchase data, reviews read, etc. and allow a personalized view. This helps users with the selection of relevant products.

For example, if you’re looking for a mobile phone on an e-commerce site, there is a possibility that you might want to buy a phone cover too. Deciding whether this is a possibility might be based on analyzing previous purchases or data searches of customers.

3. Analyze customer sentiment

Gathering customer feedback is very important for e-commerce sites. Using social media analytics, data science and machine learning, companies can perform brand-customer sentiment analysis. Natural language processing, text analysis, data from online reviews and online surveys are just some ways to analyze customer sentiment.

If you’re running an e-commerce business and you’re studying at the same time, it’s possible to find writing services to help you, so you have more time to devote to the business and analyze all of this sensitive data.

If you need to deliver an essay consider Dissertation Today. Use the best paper writing service such as killer papers review or even resume services.

4. Predict the lifetime value of customers

E-commerce businesses can benefit from knowing what net profit a customer is likely to bring to the company. Being able to predict the lifetime value of a customer can help with factors such as defining objectives for expenditure, optimizing marketing strategies and deciding cross sell and up sell according to customer purchases.

By using data science models to collect and classify data, e-commerce businesses can predict future buying behavior and have more understanding when formulating business strategies. They know which customers are most loyal and can decide where spending money on advertising etc. will offer the most return on investment.

5. Manage Inventory

Proper management of inventory is essential for e-commerce businesses. When customers are unable to get what they want when they want it, it’s a major deterrent to retaining them. They will simply move on to the next company that can offer this. They want to receive the right goods at the right time and in perfect condition.

The maintenance of the supply chain has become complex today and using inventory data analytics enables businesses to manage inventory effectively. Using machine learning algorithms and predictive analytics enables patterns to be detected that can define inventory strategies.

6. Detect fraud

Living in a digital world where millions of transactions are taking place consistently makes fraud detection essential. Many different forms of fraud are possible and fraudsters are becoming smarter every day.

E-commerce businesses can detect suspicious behavior by using data science techniques. Signs of suspicious behavior could include a shipping address differing from a billing address, an unexpected international order or multiple orders of the same item.

Common data science techniques to detect such behavior include:

-Matching algorithms to estimate risks and avoid false alarms.

-Data mining to address missing or incorrect data and correct errors.

-Clustering and classification to help detect associated data groups and find anomalies.

A fraud detection system helps companies to decrease unidentified transactions and increase company revenue and brand value.

7. Improve Customer Service

A customer is central to any business, especially e-commerce. Personalizing services and giving customers what they really want and need is essential to keeping them happy. Big data analytics offers businesses the potential to enhance their processes so that customers enjoy transacting online.

Natural language processing allows customers to communicate with voice-based bots and data can be stored for future purposes. When businesses know more about their customers and what they want, they are able to devise the best strategies to improve their customer service.

8. Optimize prices

Data-optimized pricing is making some retailers plenty of money. Many online retailers, such as Amazon, Home Depot, Discover and Staples, vary their pricing based on secret formulas. Cost analysis, competitor analysis, and market segmentation are all critical when it comes to pricing.

Pricing of products can impact a business in many ways when it comes to market share, revenues and profits. A key for retailers is to be able to figure out the right price and with big data analytics, they are not only able to determine that number for the market in general but also calculate it with some precision for individual customers.

9. Make online payments easy

Many e-commerce sales are made via mobile platforms and online payments must be secure and safe for customers. Big data analytics helps to identify anything that threatens the process and helps to make online shopping safer.

Various payment options make the online payment process easy and convenient for customers.

10. Determine the quality and reliability of products

E-commerce stores usually provide warranties for products that allow customers to deal with any problems at no cost during the warranty period. Analytics relating to warranty claims can help to determine the quality and reliability of products.

If manufacturers are able to identify early warnings of possible problems, they may be able to address them in time to avoid serious damage to the business.

Text mining and data mining are two techniques that can be used to identify patterns relating to claims and problems with products. The data can be converted into real-time insights and recommendations.

The bottom line

We’ve taken a look at the ten ways that data science models can impact e-commerce. There are so many e-commerce websites and many of them sell similar types of products. Data science helps e-commerce businesses to understand and analyze customer behavior and provide ways to enhance customer service.

When companies understand what they do best and who their loyal customers are by using data science, they are able to improve product designs and customer service, formulate better pricing strategies, manage inventory effectively and provide secure online purchasing and payment options.

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This guest post is contributed by Kurt Walker who is a blogger and college paper writer. In the course of his studies he developed an interest in innovative technology and likes to keep business owners informed about the latest technology to use to transform their operations. He writes for companies such as Edu BirdieXpertWriters and uk.bestessays.com on various academic and business topics.