3 Strategies Your Ecommerce Company Should Borrow from Amazon
3 Strategies Your Ecommerce Company Should Borrow from Amazon
A lot of companies envy the big dog… And Amazon has been the big dog for quite a long time. But instead of envying the competition, why not learn from it?
The big dog can be a great guide as any to model yourself on. Here are three online shopping techniques from Amazon that should be utilized by every retailer to provide consumers with an unbeatable shopping experience.
1) Free Shipping
UPS and comScore have reported that 58% of shoppers abandoned their cart because shipping costs exceeded the cost of total purchase.
In other words, the number one reason why more than half of your consumers aren’t converting is based solely on the cost of shipping; it’s not always easy or cheap to offer free shipping to customers, but ultimately it can be a financially effective decision.
A simple way to do this without losing profit is to pinpoint your average order value and average shipping costs, and offer free shipping on a minimum purchase amount that covers your average shipping cost and provides enough profit to increase your average order value.
You can also combine strategies to reduce the cost of free shipping, like bundling or shipping in envelopes, too.
2) Onsite product reviews
Extensive online product research has become a crucial part of the buying process for consumers: a whopping 88% of consumers reportedly research products online before purchasing. The online shopper’s attention span is short, and if they go off-site to search for product reviews, there’s a good chance they won’t return. Additionally, including product reviews on-site might be effective in attracting the customers of your competition.
3) Cross-selling related products
The cross-sell is a very important ecommerce strategy for increasing that all-important average order value. Amazon is fantastic at this: each product for sale includes a ‘customers who bought this item also bought’ section. A shopper with a specific product need is unlikely to doa deep dive into your assortment after they’ve found what they’re looking for.
In order to be successful in the highly competitive retail indusry, it’s imperative that independent retailers adopt some of the successful strategies utilized by top tier ecommerce sites like Amazon.
