How Consumer Psychology Affects Your Ecommerce Business

Would you believe that a coupon code box can drive online consumers away from your website or that a bigger “Buy” button can result in more online sales? These phenomena occur because consumer psychology plays a critical role in ecommerce. Consumer psychology can also be capitalized on through savvy A/B tests and the application of their data on your website. Here are 10 intriguing consumer psychology findings that retailers and psychological studies have noted: [Read more…]

The Top 10 e-Commerce Challenges for Business Owners

Having a successful e-commerce website can be a major boon for the business owner. To begin with, an online website reduces the costs inherent in running a “brick-and-mortar” operation, including rent, licensing fees, insurance and employee salaries. Likewise, an online store is conveniently open 24 hours a day, 7 days a week, and 365 days a year, enabling business transactions to occur no matter what time of day. Finally, an e-commerce website has the advantage of proximity; customers can be from any part of the globe yet have immediate access to its virtual storefront.

While the benefits of having an e-commerce website are numerous, there are some challenges as well. To begin with, many merchants do not understand the amount of time and effort required to set up and maintain an e-commerce website. Effective e-mail marketing, site optimization, content generation, template creation and shopping cart installation all require a significant investment of professional resources. [Read more…]

Optimizing Your Online Sales Funnel to Increase E-commerce Sales

Understanding the online sales funnel helps you understand how your customers navigate through your e-commerce website, from its basic introductory pages to its resources and information, and finally to its purchasing (i.e., landing) pages- or not. By mapping out your site’s sales funnel, you identify how potential customers find out about your site and what “triggers” motivate them to visit it. You also discover which pages they land on, enabling you to craft a message that resonates with their intent. Staying relevant to your customers’ motivations lowers your site’s bounce rates, increases the number of pages viewed and total time spent on your site, and helps achieve higher conversions once the customers enter the funnel. [Read more…]

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