What is the impact of upselling in ecommerce?
According to Forrester research analyst Sucharita Kodali, product recommendations are responsible for 10 to 30% of ecommerce site revenues.
Way back in 2006, Amazon reported that 35% of its revenues were a direct result of its cross sales and upsells.
What is social commerce? Social commerce is the ability to make a product purchase from a third-party company within the native social media experience.
In 1999, David Weinberger, a technologist and co-author of The Cluetrain Manifesto, wrote, “Personalization: the automatic tailoring of sites and messages to the individuals viewing them so that we can feel that somewhere there’s a piece of software that loves us for who we are.”
Two decades later, ironically, personalization is being used by companies attempting to make the online experience more human.
Nowadays nearly every online shop utilizes some sort of product recommendation engine. It’s no wonder—these systems, if set up and configured properly, can significantly boost revenues, CTRs, conversion rates, and other important metrics.
Moreover, they can have considerable positive effects on the user experience as well.
This translates into metrics that are harder to measure, but are nonetheless essential to online businesses, such as customer satisfaction and retention.
As an ecommerce site, you likely send emails regularly. Black Friday emails, Valentine’s Day emails, BOGO emails, confirmation emails, thank you emails, reminder emails…the list is endless.
Are you getting real results or simply opens and clicks? Are you promoting the right products to the right people at the right time?
If you run an ecommerce shop, you’re always trying to boost your sales. Here’s how to increase the conversion rate of your ecommerce site.