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eCommerce Conversion Rate – How UGC Can Help You Convert More

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Whether you are a start-up or an e-commerce platform running in the industry for decades, you might have spent a budget for an attractive site for your business. But is that all? A fancy-looking e-commerce website might get you compliments, but not a good conversion rate.

What is the e-commerce conversion rate?

An e-commerce conversion rate defines the percentage of visitors or potential customers that lands on your page to buy a product. But the real question is, “what is a good conversion rate?” Quite honestly, it varies for every industry. For instance, a 20% conversion rate for a premium carpet brand might be impressive, but the same figures might be disappointing for an apparel e-commerce store.

The key lies in understanding what is the average conversion rate of your e-commerce site. Once you have information w.r.t the rate, you can unlock the standards above it.

If your firm is converting around the calculated average conversion rate, you might be under-performing in terms of attracting more buyers to your site.

And of course, you do not want that, otherwise, you might be facing financial troubles very soon.

However, the good news is, “conversion rate keeps on fluctuating”.  You need to have a strategy to develop User-Generated-Content to bring more traffic to your website. With UGC, customers enjoy the authentic shopping experience that helps in building better credibility for the brand as well.

But how is UGC so powerful and influential? And how can the e-commerce platform work on the better deliverable of UGC? Let’s understand the same!

Why UGC is so powerful?

Following reasons will help you to discover the command of UGC and how it can benefit your e-commerce site:

It can drive major traffic to the site

Entrepreneurs often rely on UGC to understand the traffic on their site and social media walls.

UGC is requested by the entrepreneurs in ads and reposting of customer content on their social media page. This helps in attracting more and more genuine potential customers who share an interest in your products. For instance, a review by a customer is an effortless segment to boost more traffic on your website.

Speaking of click-through rate, it is highly noticeable in the advertisement that includes customer reviews and cost per acquisition (CPA) is 50% lower for reviews than any other standard advertisement.

It boosts your conversion rate

The conversion rate relies heavily on UGC. You can easily grab the user’s attention using different content formats like reviews, visuals, etc. and influence your conversion rate.

It helps in improving the credibility of the brand as well as customer loyalty

Since user-generated content is raw information shared by your customers, it represents how loyal they are towards your brand! Along with the same, the unfiltered and authentic review by the users also plays a major role in developing integrity and visibility for your brand.

Before we talk about how this secret recipe can be modified to increase your conversions, let’s take a look at the recent statistics:

  • 82% of the online buyers, value UGC content as it helps them with better shopping decisions.
  • The brand engagement with the potential customers improves by 28% with UGC content and videos
  • 48% of online buyers can discover more products and brands online through UGC

Ways to Show Off Positive UGC on the Digital Platform

So now you know how important and powerful User Generated Content is for your brand. Now let’s shower some light upon a few strategies to show off the positive reviews and UGC.

Connect your potential shoppers with customers’ recommendations

When you feature reviews or recommendations on your product or social media page, it helps in answering the real questions asked by the customers. 92% of the customers believe in the recommendations and end up buying the product says Adweek. Ecommerce conversion rate, hence, improves with questions answered (by the existing customer) on the product page.

It helps the potential buyers to build trust in the brand when they read honest reviews by genuine customers.

Replace your product info with reviews

When your customer clicks on the product category page; try to highlight reviews on the page along with product description. This helps in building more trust with the customers as they understand the quality of your product before they even hit the ‘buy’ button.

Innovate your product packaging

By including the product reviews and recommendations by previous buyers, you can build brand trust in your customers. And one innovative way to realize the same is including reviews on the product packaging. So they will remember your brand when they wish to shop next time.

Conclusion

Try these innovative ways to show-off your positive UGC. However, in the course of improving the brand’s credibility, it is highly important to work on negative feedback as well. If your customers leave negative feedback or review, it will impact your brand, but not in a good way! After UGC has a powerful impact that can spoil or develop the credibility of your brand!

As much as it is important to showcase the positive side of your brand, it is vital to work on the negative feedbacks by treating your customer right!

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Marketing

How To Build Your Client List In 2021

Brand Power

Client acquisition is not just the core task of salespeople. It’s also how most marketers are assessed.

If your marketing strategies don’t appeal to the target audience, then they’re not working out for the business, and nor are you!

Did you know new customer acquisition costs five times more than customer retention?

You may be doing really well with your marketing to keep customers buying, but there is such a thing as churn rate or attrition rate where a percentage of customers choose to no longer buy from a company. This is why customer acquisition is essential to all businesses.

New customers need first to replace those who have taken their business elsewhere and take the business to greater heights, i.e. more revenue and market share.

So how do sales and marketing teams convince prospective customers to trust products and the brand?

Marketers have a system that works hard to achieve high customer retention rates and attract new customers.

The secret to building a robust client base is developing a framework to create a loyal audience for your brand and product. You will need:

Product-market fit

When you reach a point where your product or service demand is more than you can supply, you know that you have just got the product-market fit.

Loyal fanbase

No matter which industry your business operates in, market saturation is imminent. If your company has to have any chance to stand out in the long-term, you need more than customers. It would help if you had a loyal fanbase.

Your first few customers do a lot more than add first sales to your business. They turn into your loyal fans, acting as your brand evangelists. To supercharge this strategy, we have a few recommendations.

Giveaway campaigns

If you are starting your brand with a handful of customers, building trust in your audience is complex, especially if you compete in an overcrowded market.

The solution? Start building trust. Give something valuable for free. But remember to get creative here. When you are experimenting with gorilla marketing techniques, you need to get something in return for your products.

Referral programs

Your customers tend to trust brands that their friends and families use, therefore incentivizing your first chain of customers can work wonders in creating the second and consecutive waves of new customers. But remember, one key aspect of a successful referral program is audience motivation.

Turn your existing customer into brand ambassadors.   You will need to give them a reason to take action and communicate with their networks of family, friends and so on, spreading the word of how great a product is or your business generally.

Contest campaigns

Contests can gain both new eyeballs and engage old ones with your brand simultaneously. Increasing participation of a targeted audience with a promise of an incentive ensures you get hold of a fresh audience to track, engage and finally convert into customers in the long term.

Brand management

No amount of branding will profit your business if you do not measure working for you and what is not. Using brand management software is highly beneficial in this process.

Following are some of the top branding strategies that you can use to develop your brand.

Social media

Use social media’s power to continuously stay at the top of your target audience’s minds. It is critical to keep your brand message clear and consistent whenever you communicate with your audience.

Product placement

If you need to get new customers who care about your product, you need to trigger inspiration in them. Remember, people do not buy the what; they buy the why? Investing in buying spots for your products in films and digital entertainment can gain you a lot of traction.

Word of mouth

Did you know word-of-mouth is one of the most sustainable and effective organic marketing strategies, driving 5x more sales than paid marketing?  Your marketing strategies need to satisfy two metrics: cost efficiency and impact. Word of mouth essentially meets both.

Contextual Marketing

Modern marketing is all about time. If you can’t reach your customers when they are thinking about your product, your competitors will.

Contextual marketing is advertising that leverages the content on the page, so how do you do it? Use customer data to drive what, how, when, and where you present content to your audience. It will skyrocket your overall user experience by leaps and bounds.

Interactive Marketing

In this attention economy, if you have to give your audience the ‘wow effect’ consistently, you need more than just a good product. Significant customer product interactions always lead to sustainable brand-customer relationships; therefore, interactive marketing can be your new growth strategy.

Interactive storytelling

Using dynamic content that lets your user choose a path they want to take is the future of content marketing.

Dynamic infographics

There’s a reason why gifs are so popular. 🙂

Interactive video

Videos are an excellent medium of marketing. But with more and more businesses adapting to this form of marketing, your competition is growing stiff. It would help if you thought out of the box. Interactive videos are a great way of achieving this. Give your audience a choice of what they want to consume, and this will increase engagement automatically.

Quiz

Quizzes are already a big hit in the new client generation. But to optimize your campaign, tie your quiz with a reward.

Email Marketing

A personalised email so each recipient understands the content is relevant to them is email marketing at its best.

No wonder emails drive a £42 ROI on every GDP spend. Your audience is much more responsive in such a private landscape. But, to make the most of this channel, here are a few strategies that you can apply.

Interactive emails are the best way to increase engagement with higher conversion rates.

Cold emails are still the most effective way of getting new clients if done in the proper context. Remember, the key to a successful email marketing campaign lies in contextual value-added conversations.

Blogging

blogging

If there is one classic example of content marketing that will not die any day soon, blogging. It is your all-in-one tool to gain authority, brand equity, and a loyal customer base. But the future of blogging does look somewhat different.

Following are a few ways in which you can stay one step ahead of your competitors.

Microblogging

What is microblogging?   HubSpot explains it well when they say most audiences want blog posts of less than 1000 words.

The attention span of your online audience is lower than the goldfish. Therefore, you will get a lower bounce rate when you use less content to satisfy your audience’s need to read, grab and go.

Use the KISS rule to create short, to-the-point sharable, and valuable content your audiences will love.

Microblogging is also an exceptional opportunity to create a pre-launch hype about your products in your audience. You can run campaigns where you indulge in microblogging in partnership with micro-influencers.

PR

When you are starting new, digital PR can work wonders for your business. You can always opt for the sponsored post in a well-known e-magazine like Forbes or choose to guest post on someone else’s blog. This allows you to interact and attract an entirely new set of audiences. If you have a budget for a little more, opt for one or two press releases. Your press coverage needs to be aligned with your sales strategy to get added traction in the initial product sales.

User-Generated Content

One of the most significant benefits of using user-generated content is your audience engages with your brand and gets actively involved in the marketing of your products and services. In a way, they are your extended marketing team. But if that is not a big reason for you to invest in UGC model marketing, the sales potential indeed is.

According to the Nielsen Norman Group, a whopping 92% of modern buyers trust organic content over traditional advertising. You can indulge in a variety of user-generated content. From custom reviews to hashtag campaigns to video content and gamification, you can experiment with many content formats here.

Parting Advice

Marketing is an ever-evolving world. What works today might not work out tomorrow. This means to create a sustainable marketing plan truly, you need to get your fundamentals right.

Your audience and their respective behavior towards your brand will guide you on which strategy has the potency to be the next big trend.

The core of building a rock-solid client list is having meaningful conversations frequently with your audience.

The better you get at creating impactful brand-customer encounters, the better your client list goes.

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Marketing

4 Ways Tree Testing Can Benefit Your Business

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Designing a successful digital product is tricky and challenging. In the crowded space of the WWW, your product may not end up in search results, and this is why findability precedes usability in designing for the web. If your product can’t reach your audience, it has failed already.

Therefore the big question here is how do you ensure that your product is easily found and accessible by your target audience?

The answer to your question lies in information architecture. Design a superior user experience (UX) using a tree test.

Top 4 Reasons Why Your Business Needs Tree Testing

Still unsure of what a tree test can do to your design venture?

Let’s take a look into the true capabilities of a tree test.

Primarily, you would be running a tree test because of any one of the following reasons.

  • baselining an existing tree
  • detecting the problem area and points thereby establish a base score
  • experimenting test trees trying to solve existing information architecture problems
  • comparing each version against each other to find the best possible solution to the existing problems

However, a tree test also does a lot more for your product. Following are a few primary areas where a tree test can be beneficial.

Why It Pays To Use A Tree Test

1. Evaluate product navigation

A tree test can improve your digital product’s online findability. With the test tree, you can evaluate your product’s existing information navigation system. How? Well, users complete a series of tasks looking for items using the site structure. Using this method to evaluate your site structure, you have a way to measure how easy it is for users to find things.

Treejack is one of the most popular tools used for tree-tests.

2. Time-efficient

With a remote tree test, the users can be located anywhere, and they can take the test in their own time. You benefit from getting quality, quantitative data.

3. Cost-efficient

By using online test conduction, results accumulate from global users. Thus, it reduces the costs of on-premise tests.

4. Agile

The biggest asset of tree testing is that it is designed for experiments. The test sessions are concise, each test of around 15 – 20 minutes, having a maximum of 20 tasks per session.

This improves the success rate of completing the test by users significantly. These tests, like card sorting, are pretty much simple with low complexity that readily helps with the dropout rates.

Combined with remote access to the test, all this makes data collection fast and the data analysis process lean. This means whatever insights you derive from your test analytics, you can apply them in no time.

How To Optimize Your Tree Tests

Ensuring you get the maximum benefits out of your tests is one of the most important yet neglected design tests areas. But if you can make sure to ask the critical questions without fail, your tests will not fail you.

Following are a set of core questions that can ensure you make the most of tree testing.

1. What is the objective of your tests?

This is perhaps the anchor point of your complete questionnaire. This answer is going to help you achieve the hyper-targeted activities for your test. For instance, you may want to analyze the results of your design changes in the navigation structure.

2. Who is your target audience?

Answering this question right in the beginning can save you a lot of pain in the long term. A good practice here is to take some time out and think deeply about your product visitors.

If your answer is: “everyone”, then you are doing it wrong. Remember, if everyone is your audience, then no one is your audience.

3. Define the independent variables

Deciding on the independent factors that are dynamic can produce multiple end-results.

Use factorial experimental designs. This method enables you to examine each variable in isolation.

4. Define the dependent variable.

Dependent variables can also bring a lot of improvements to your overall user experience. To assess its impact, you have to observe its effect on its respective independent factor instead of the end-user interface result. For instance, you can examine the precision of an area locator for completing preset tasks.

5. What do you use while comparing trees, a control group or a treatment group?

Control Group acts as a benchmark. It is not vulnerable to changes. Here, comparing the altered results to the original group is possible. You can assess the degree of difference between the results of both groups.

6. While comparing testing trees, do you use a between-subject design or a within-subject design?

It’s important to decide whether you want the same group of test-takers to participate in all the versions of your test tree or anyone.

Whether you choose both strategies or not, both have their own merits. Therefore, it would be best if you decide based on your test goals. For instance, choosing a between-subject approach can reduce the test taker fatigue, and the learning effect could even prove to be time-efficient.

Parting Advice

The whole point of executing a tree testing activity is to ensure you stay updated about your target audience’s behavioral nodes. This means conducting frequent tree tests can boost the overall information architecture health of your digital product.

The above tips and tricks are definite to help you optimize all your tree testing campaigns, but the heaviest success metric still lies in your hands.

Ensuring you understand your target audience will make sure that your design assumptions walk the closest to reality.

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Marketing

Digital Marketing Tips To Grow Your Finance Business

SEO

To get an edge on the competition, your company needs to get ahead with marketing strategies that return a favourable ROI. In this article is a list of some of the digital marketing initiatives for companies in finance.

Social Media

Your business is a service, and you need to choose the social media networks that provide the highest rate of conversion. Therefore your starting point is to do research and analyse what your competitors are doing in social media channels.

LinkedIn is a business network, so if your clientele is businesses, then this is the network for you to focus your marketing effort and investment. If your service is personal lending, then Facebook is a good network to grow a following and invest in content and posting on a dedicated Facebook page.

Content

Unique, engaging content to get your brand noticed is a must, and it should reside on your blog and be shared to your email marketing list and social media pages. Do not underestimate the value of high-value content on your website. Google recognises relevant content and your quality of your site visitors goes up when they arrive at your site from a link to a blog post you’ve shared. Invest a good share of your marketing budget to content generation to share and increase your site visitors.

Most social media platforms have features and tools to improve the stickiness of your postings. For example, hosting Facebook lives can be great for announcing new products and services or hosting a Q&A where people can make use of your expertise. In terms of consumer behaviour in digital, people are much more likely to buy something off a company when they know more about their culture and values. If you can’t find the time to do this intermittently – there are scheduling such as Hootsuite, you can use to do this in the one go.

There are also detailed insights on most social media channels, which let you know posts have received the most views and the most engagement. Use this ‘feedback’ to drive your blog posts and content to share information your followers like and share with their networks to grow your monthly website visitors.

Google AdWords

Starting in digital marketing requires paying for website traffic and Google AdWords campaigns when done well are worth the investment. Paying for online advertising in social media or search is a go-to when you want to boost your traffic for new service notification or sharing company news. In Google Ads set daily budgets for how much you want to spend on your campaigns and can change the keywords once you get a better idea as to how well each ad is performing. You must send them to a website that reflects your brand and is a good representation of what you do. Alternatively, you are just paying for clicks to a site that is unlikely to convert. If in doubt, use a Google Ads expert to set up and manage your search advertising.

Search Engine Optimisation

SEO can not be ignored, and it too requires investment in time and resources. A longer-term approach than Google Ads, SEO strategy is always evolving as Google’s algorithm updates require tweaks so your site can rank well in organic search results.

There are some tools you can use to give you an idea as to how well your website is currently performing in terms of organic traffic such as SEMrush, and other tools such as Keyword Planner, that will help you decide which keywords to use.
SEO requires an understanding of the basics; for example, is your website using a stable URL structure? Would your site pass the Google speed test? You also need to think about the content on there and whether or not that is optimised for search.

Another consideration is referring links, i.e. are other sites linking to your site? Ideally, you want high authority sites to link back to your site, and this is where using an SEO expert is worth the investment. Why companies choose to outsource their SEO efforts to agencies with industry-specific expertise; for example, Digiconomy focuses their efforts on building traffic for finance-related companies and sharing useful information for providers in that sector on their blog. Hence, their knowledge of keywords, competitors etc. is likely to work out more cost-effective than a generalist SEO expert with knowledge in say utilities or transport sectors.

Analytics

Monitor the analytics on the views, clicks, time spent online etc. of all your marketing campaigns. Google analytics and their search console are free so make sure you have your site set up for their measurement. For example, you can get an accurate view of the number of visitors to your website, their demographic, and what pages of your website are popular. This information is useful when you revise the content so the visitors can engage more by visiting linking pages.

Conversion tracking on your website should also be done wherever possible so you can get an accurate view of which parts of the site people are using to contact you. You can also go one step further and implement the likes of Hotjar, where it also records website visits and uses heatmaps so you have an actual visual of what the most popular areas of your site.

The above tips are sure to help your finance enterprise get more traffic and sales.

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