If your business is getting a lot of attention online but still struggling to make sales, a new study could give you some idea why.
Third party fulfillment provider Red Stag Fulfillment recently created an infographic compiling ecommerce conversion rates and some of the difficulties that businesses face in getting customers to complete the final steps of the buying process.
Video Powers Up Ecommerce Conversions
One of the most significant statistics outlined in the infographic reflects the potential impact of video in the sales process. According to the statistic, using product videos on ecommerce sites can increase product purchases by 144 percent.
That’s a huge difference. But if you think about the growing popularity of online videos, it makes sense. Especially in an ecommerce environment where buyers don’t have the opportunity to pick up products and see them from every angle like they would if they were shopping in person in a brick and mortar store.
A video can really take away some of that hesitation from the buying process.
It’s also generally a more engaging format. People who will take the time to watch a video are more likely to be actually interested in buying than those who might just casually browse through some photos.
However, video isn’t the only platform with what appears to be a direct statistical impact on buyers’ decisions online.
Another statistic suggests that 84 percent of online shoppers review at least one social media site before making a purchase.
That’s not as dramatic a result as the impact on buyers of watching a video but still something to consider when marketing your online products.
Meanwhile, the data also demonstrates the impact of website functionality on customer purchases. For example, according to data compiled by Red Stag Fullfillment, inaccessible websites account for a loss of 2.5 million ticket sales annually just in the UK music industry.
For ecommerce businesses, these stats and others in the Red Stag Fullfillment study offer some insights into potential ways to improve online conversion rates. First of all, your website should be accessible and easy to use, even to those who might have certain disabilities. More specifically, clearly marked “add to cart” and “checkout” buttons are important to guide people through the buying process.
In addition, your social media presence is important when it comes to making sales. Wherever possible, make reviews and testimonials from satisfied customers easily accessible from your social media accounts. So when people who are considering purchases visit those sites, they can see that you have provided great products and services in the past. Seeing that you have happy customers can take away some of that hesitation. Additionally, if customers reach out to you on social media to answer questions, make sure a member of your team is available to respond in a timely manner so that you catch them when they’re still ready to buy.
And lastly, product videos can make a huge impact in improving your sales. Even simple videos that show your products in use can help alleviate some of your customers’ concerns or answer their questions. It’s a format that’s growing in so many different industries. And it has the potential to make a huge impact on your ecommerce sales and conversion rates.
Images: RedStag Fulfillment