If you needed customer support and the only option was to call them, would you be annoyed? What if you lost your ticket to a game, and they didn’t have a backup anywhere? Your answers now might be different than they would have been 10 years ago, because when consumer expectations evolve, they don’t usually go back.
When businesses change the…
Keeping your whole company informed about the best practices will help prevent routine inquiries from escalating into disputes — saving you the time, cost and hassle of chargebacks, an expensive and time-consuming part of doing business. And, they’re more common now than ever. Our research found that online retailers in Europe saw chargebacks increase by 25% throughout the pandemic.
Although fighting chargebacks…
In order to offer a customer experience on par with the big online marketplaces and gain an advantage over direct competitors, improving the delivery experience is more important than ever. A study examining users’ reasons for shopping on Amazon underlined the extent to which customers focus on the delivery experience. Of those surveyed, 8 out of 10 gave fast and…
When marketers talk about reviews, they mainly refer to the good things people say about their products and brands. It’s not hard to imagine why this is the case. There’s no question that positive reviews from real customers can help you build social proof and boost your conversion rate.
But did you know that negative reviews can actually help you grow…
Whether kicking back with a movie or kicking their fitness routine into gear, more people are choosing to experience YouTube on the big screen. When they do, they can watch longer, enjoy multiple shows back to back, and experience it all from the comfort of their couch with friends and family. Many even build a routine around it. In the…
There are few key performance indicators that everyone focuses on for an e-commerce store: conversion rates, average order value, and the number of monthly visitors, site revenue, and the cost per acquisition. These metrics translate into money in the bank (or lack thereof). Each of these KPIs is influenced by a variety of other metrics that causes them to go up…
Out of 100 people who add items to a cart, only 35 make a purchase. The rest abandon their carts. That’s a whole lot of revenue down the drain. Fortunately, you can salvage that lost revenue using some of the best practices of abandoned cart emails. But your abandoned cart email will only be powerful if you inject principles of behavioral psychology into…
Customer segmentation has always been important. But now that orchestrating journeys that reflect a customer’s overall experience, rather than their most recent interaction within a siloed touchpoint, is integral to enterprise success today, effective segmentation is an absolute must.
But according to a recent Forrester report, only 33% of companies using customer segmentation say they find it significantly impactful. According to…
Buy now pay later (BNPL) companies like Affirm, Afterpay, and Klarna have been quietly building a loyal customer base for the last few years. Today, 56 percent of U.S. consumers say they have used BNPL providers for retail purchases — up nearly 50 percent from July 2020.
Thanks to budget concerns, credit card mistrust, and a COVID-19-fueled increase in online shopping,…
Social media platforms are undergoing a massive evolution. They are no longer solely the place you go to connect with friends and family. TikTok has turned everyone into a creator. Snapchat has moved well beyond the teen demographic to an audience that spans age ranges and businesses. Earlier this year, Instagram head Adam Mosseri posted an Instagram Live video confirming that…
As online retail grows, so do global CO2 emissions generated by the manufacturing, ordering, transportation, and delivery of goods – and the return transport. The increasing number of online purchases has created a higher number of returns and resulting CO2 emissions. However, online retailers and the logistics sector can help reduce the negative impact of returns by incorporating a sustainable…
The impact of Brexit on ecommerce and UK-EU trade in 2021 cannot go unnoticed: at the start of 2021 exports to the EU plunged by 68%. However, the initial disruption is an unlikely prophesy of what online sellers can expect in the future. In fact, in the long term we may see no massive blow to the ecommerce sector as both…
If you’re looking to develop an Instagram marketing strategy for your e-commerce brand, read on to learn why Instagram is a great platform and how you can ace your IG marketing efforts. Instagram is a great platform for e-commerce brands seeking more conversions. There are more than 1,000,000,000 (yeah, that’s a billion) monthly active users on Instagram. That’s a huge number…
Your e-commerce site is your storefront, while the abandoned carts refer to the items that your customers put back and pick up. These abandoned carts can hike your cost per acquisition and hurt your revenue. Generally, the abandoned carts undermine the things you have done to grow your loyal customers and maintain your shop. However, it’s vital to keep the abandonment…
Gaining the edge in retail is not as easy at it once was. Consumers can discover the best prices by doing nothing more than opening an app or visiting a few websites. Those who are willing to wait a few days can order virtually anything, from Bose headphones to Maine lobster tail, with a few clicks.
And yet, our State of…
Klarna has launched a new browser extension which will enable consumers to use the fintech giant’s payment solutions at every online store, even if they are not a partner. Users can install the extension on Google Chrome and Microsoft Edge currently, with plans to roll out to Firefox and Safari browsers in the near future.
Consumers in the UK, US, Germany and…
Microsoft Advertising has detailed four new consumer personas that represent changes in how marketers reach and relate to their audiences across verticals. The personas (luxury shopper, digital nomads, empowered activists and self-care enthusiasts) were identified via Microsoft’s first-party data and analytics over the last 18 months.
Luxury shoppers. This persona was primarily an in-store audience, but they increased in numbers at the outset…
Mastercard is making a move that could lead to wider usage of bitcoin and other cryptocurrencies as payment for retail purchases. The payments network giant is partnering with digital asset platform Bakkt to enable crypto-as-a-service, which will provide retailers and other businesses in the Mastercard network with quick, cloud-based access to cryptocurrency capabilities.
Mastercard’s cryptocurrency services partners will be able to use…
This may not surprise you, but it can be almost 7 times more cost effective to retain an existing customer than acquire a new one. ( Markin Blog, 2020) Turns out, the probability of an existing customer making a purchase is about 60-70 percent. Your likelihood of a sale only lies between 5-20 percent for new prospects. ( Markin Blog, 2020). In…
Given ecommerce’s breakneck rate of change, brands need to constantly monitor the trends shaping consumer expectations and shopping behavior. At Vaimo, we’re big on tracking trends. They help ensure that each client’s business objectives are aligned with their digital commerce models through technology selection, customer experience alignment, roadmap creation, and brand virtualization. …
