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New Business Trends  Internet Business
Stop! You forgot to pay for that!
eTailers rarely factor in the shopping cart abandonment rate they’re likely to witness when opening up a new Internet store.
From personal experience dealing with large PC Retailers with Internet stores, I can testify that about 2-5% of users abandon their carts at the checkout page, and of course there’s a higher percentage that never even make it that far. The issue is simple: No call to action. And even this little tidbit won’t eradicate the problem entirely. You’re always going to see people leaving their carts. At least most of the time.
Ø The easiest way to push a consumer over the edge is to offer them an incentive to purchase now. Coupons, free shipping, and buy one get one free offers are always a draw. However, if your "promotion" never ends, they’ve lost their immediate call to action. Of course free shipping as a regular policy is good, but it may not hook a new buyer into your store as much as a "first time buyer" discount. And for that matter, a second purchase discount, and a third. If you can hook them for their first 3 purchases and follow through with good customer service and a reliable product, they’re much more likely to follow you to the ends of the earth as a loyal customer.
Ø A loyal, repeat customer will draw in the first time customer for you, so don’t spend all your time chasing something you don’t already have. Instead, cultivate your customers; shower them with affection and gratitude through preferred customer discounts and bonus store offerings not available to the general public. Don’t be afraid to be a loss leader, not only to gain new customers to but keep your existing ones happy and spreading the word.
Ø It only takes one satisfied person to increase your customer base tenfold, and that person is more valuable than a rare black pearl. It’s much more expensive to hook a first time buyer than it is to keep a satisfied customer, so don’t lose sight of your priorities.
You’ll always have abandoned shopping carts. Chances are we’ll probably return when we pay off the house. Or sooner…. if you give me a discount!
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Telephone Skills
Date: 14/9/2010 - 14/9/2010
To develop practical telephone skills and to improve interpersonal skills. Get more business through the phone ...
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