The success of online retail depends on various factors, customer preferences is one such important factor. I’d say customer preferences should be made as a marketing tool to drive retention and loyalty. A study says that the majority of online retailers have increased their marketing budgets without finding any positive impact in the bottom-line.
According to the study conducted by “the e-tailing group” only 2% of ecommerce visitors were converted into buyers. Today online retailers rely more on web metrics without having any idea and knowledge on 'what to measure' and 'what not to measure'. Jeffrey Grau, senior analyst of emarketer added, “Today online marketers see web metrics like religion they don’t interpret beyond numbers.”
Finding out customer preferences and addressing their needs will definitely have a great impact on sales conversion rather than understanding online consumer behavior which is only good for improving website usability. Today users prefer free shipping and flexibility in payment options; these preferences can be used as a marketing tool by online retailers to improve online sales.
2 comments:
E-tailers also need to recognize the value of the human touch. Here at Priceshoppe.com, it is a rule that an account executive be the one to maintain contact with our clients from the first call to the last (if need be) , this is very important to our SMB customers.
Frank Dappah
Director of e-commerce
Priceshoppe.com inc.
That's a good rule you have imposed. Interacting with the customers will definitely help you understand their preferences to serve them better.
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