Retailers have been experiencing surges in online activity. Quantum Metrics saw an 8.8% increase in conversion rates on ecommerce sites at the end of February as the pandemic hit, and many activities online only increased from there. However, much of this traffic has represented a shift from purchases that would have otherwise happened offline. And a lot of traffic is erratic. Kibo finds that cart abandonment is at 85% this year, up from 72% last year, which makes it difficult for brands to predict where their performance will fall.
Retailers are still uncertain about their future, but signs of improvement are starting to emerge. Now, summer is here, which is creating a reason to shop for new clothes, outdoor furniture and activities, recipe ideas, and more. Regions are reopening, which means that people can go back into stores in order to get a better look at things they might later buy online. And people are starting to return to their normal activities from their jobs to their favorite sports and hobbies.
Now’s the time to double down on digital commerce best practices in order to be the first to capture these renewed upswings in consumer commerce activity. To turn interest into conversions, brands can follow Kibo’s new guide, the Quick Wins for Maximizing Conversion Post-COVID, that is full of quick wins that are fast to implement, and fast to work.
Increasing Conversions: Quick to Implement, Quick to Work
Kibo’s comprehensive guide covers all of the elements of a customer journey that can cause an opportunity to be lost, and shows retailers exactly how to make even very small changes that will keep shoppers engaged and drive up sales.
Kibo provides tactics for:
- Reducing bounce rates
- Increasing average order value
- Decreasing cart abandonment
The guide also provides guidance on better testing and personalization with clear processes that are simple yet effective. For example, it includes a four-step process for recapturing cart abandoners that can easily be changed with new messaging or machine-learning based personalization.
Here is a sneak peak of a few of the many quick wins Kibo shares in the report:
Quick Win: Reducing Bounce Rates on Product Pages
Quick Win: Increasing Product Views
Rename the default “Our Favorites” to “Select” to encourage interaction. Consider enhancing with further personalized sort orders if you have that capability in your tech stack.
Quick Win: Win Back Abandoned Carts
For people who abandoned their cart in the past session, make sure to welcome them back, and remind them of the items still in their cart.
Quick Wins for Maximizing Conversion Post-COVID provides tons more helpful best practices as well as a plan to better approach testing and personalization, two key elements that will help brands pivot quickly in the coming months and improve upon their successes.
Most of all, even if the wins are quick, they are also lasting. Kibo’s guide helps create a structure for success over the long term. With a simple plan, a focus on key metrics, and an eye toward testing and technology best practices like machine learning, retailers will be on their own path to recovery.