![]() ![]() Evolve taps into this emotion by welcoming its online store visitors with the chance to win an electric skateboard in exchange for an email address. One of these motivators is “a sense of thrill.” Brands that excel here create feelings of excitement and anticipation for customers. ![]() Evolve creates a sense of thrill for shoppers The good news? As a store owner, you don’t need to break the bank to take advantage of these drivers and encourage more purchases. In a 2020 study, the XM Institute found that emotion in the customer experience had the greatest impact on whether consumers made a purchase and recommended the brand.Īccording to a still-relevant 2015 Harvard Business Review study, there are a few key emotional motivators that spur a customer to buy something. There are a number of factors that drive customer acquisition, but emotion may be the most powerful. You’re not speaking to your customers’ emotions The industry experts at Extend and Fondue collaborated to determine four things that might be standing in the way of improving your ecommerce profit margins today: 1. If your strategy is solely cutting operating expenses, you’re bound to end up in a race to the bottom. To increase ecommerce profit margins in today’s environment, you need to combine cutting costs, driving revenue, and delivering an excellent customer experience. “The instant thought process starts to become, ‘How do we drive bottom line growth?’” “Unfortunately, a lot of retailers out there, their stocks dropped 70-80% in a matter of a quarter or a quarter and a half,” said Rohan Shah, Extend co-founder and CRO. Merchants are in a constant tug between meeting customers’ expectations as set by Amazon and keeping costs low enough to make a profit, and this is squeezing profit margins tight. The rest belongs to Target, Walmart, and thousands of smaller ecommerce business owners striving to keep pace. ![]() retail ecommerce revenue was $768 billion in 2021 - and about a third of that went to Amazon. The game of online retail is a little out of balance, to say the least.Īccording to Statista, U.S. Brought to you in partnership with Extend, whose digitally-native solution provides a better product protection experience that is a win for both merchants and their customers ![]()
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