This infographic from AmeriCommerce, a provider of ecommerce software, tells the tale of a large and growing global ecommerce market, and illustrates what online merchants can do to improve their conversion rates and revenue. For example, the $220 billion in sales the U.S. retail ecommerce market is about eight percent of the overall retail market, while in the U.K., 13 percent of retail sales are made online. In both regions, overall sales and the percentage of market share are predicted to consistently grow. So how can software vendors use data driven ecommerce to make the most of their online shoppers?
Making the Most out of Online Shoppers
The infographic suggests that converting mobile users is both a great challenge and a great opportunity for revenue. Referring back to the U.S. and U.K. ecommerce markets, more than a quarter of those online sales are going to occur through a mobile device. And yet, more than 70 percent of small to medium businesses have not optimized their websites for mobile users. This includes product pages, checkout processes, shopping carts, confirmation pages as well as emails. Clearly, if online merchants want to capture these shoppers they have to think about the best way to offer a mobile experience.
In addition to the mobile challenge, businesses have to test and optimize their offering for a variety of channels. Naturally, the infographic continues by discussing the different channels online shoppers use to find out what products they want to buy. Of course, search engine marketing and social media play big parts in influencing purchasing decisions. Figuring out the best way to use each channel can have an enormous impact on improving conversion rates and revenue.
Speaking about conversion rates, this infographic provides a baseline against which merchants can judge their own performance in different channels and across different devices. The main thing to remember is that these benchmarks reflect the entire ecommerce market which is comprised of many industries, not just software manufacturers. Make sure to benchmark your audience to truly understand what kind of conversion rates your should be seeing.
Finally, the infographic emphasizes the importance of improving customer satisfaction and the impact that it has on revenue and reputation. If you are truly interested in capitalizing on the growing ecommerce market, focus on existing customers. They tend to convert at higher rates than new customers, and also generate higher cart values.
Look at the conversion rate benchmarks for each channel in this infographic and let us know how they compare to your online store.
Data Driven Ecommerce – Infographic [Infographic] by the team at AmeriCommerce