Is your store on the marketplace steadily getting visitors, but no purchases? Or a competitor’s product is actively leaving at almost the same price, but no customers are stopping by? Think nothing depends on you and business is a game at CasinoChan Canada? That’s not true. In fact, the situation can be remedied. Here are the reasons for low sales and collected recommendations to help you.
First, you should pay attention to these metrics:
- Traffic – the number of impressions of the product × CTR, which is the ratio of clicks to impressions.
- Conversion – the ratio of those who bought to those who saw the product.
The higher both figures, the higher the sales. You can influence them in different ways.
How to Influence Traffic
If you sell through the marketplace, remember that there is high competition. The system tries to recommend to customers those products that they are more likely to buy, that is, those that have ratings and reviews. Since the system doesn’t know the probability of buying a new product from a new store, it won’t offer them. Therefore, in most cases, there will be no organic traffic at first, unless you are talking about a rare or unique product. What can be done to attract the first customers?
Here’s where displays come from:
- Search and recommendations. What should new stores do? Optimize products for search: Work on titles, images, descriptions. What to do with already running stores? Open the metrics by products and see what people click on most willingly, and optimize them in the first place.
- Promotions. In order for the product to gain weight in search results, and, accordingly, to show up higher in search results and recommendations, you need to get more people to buy it. The richer the purchase history, the higher the conversion rate, the more appearances in searches, provided that users give the product a good rating. To earn purchase history, you need to participate in the platform’s promotions. In this way, your products will get extra impressions on special promotional channels. Your goal is to make sure that as many people as possible buy your product and leave a good review.
- Your sources. To attract your first visitors, it’s worth referring your existing audience to your store. For example, you can write about the opening on the brand’s social media pages, post information in an offline outlet, or do a mailing to your customer base. The same methods can be used to announce price reductions specifically on the marketplace, as opposed to other venues, such as a website.
How to Affect the Conversion Rate
Conversion is the ratio of those who bought the product to those who saw it. It is influenced by several factors.
Price
It’s a key factor for most customers. Consider the price of the product and the price of delivery. The cost can be reduced either directly (by setting a discount) or through promo codes or coupons.
Content
Photos, videos, and product descriptions affect not only the customer’s perception of the product and your store, but also their satisfaction with the order they received. If the description is unclear or too concise, the customer may not see important features of the product, be deceived and request a refund. On the contrary, if the description is detailed enough, the risk of acquiring it is minimized in the eyes of the buyer.
Shipping
Free shipping is a powerful incentive to buy. Statistically, paid delivery reduces conversion, especially in regions where competition is strong.