How to Boost Average Sale Price by 50%

How to Boost Average Sale Price by 50%

Among the many challenges that online retailers face is the issue of conversion. Regardless of the product or service being offered, the uncertainty inherent in many purchases is an impediment to closing the deal. Typically, customers arrive at a specific website with their curiosity piqued. They have a desire to purchase a product or a service, but the uncertainty they may feel regarding the specifics of the product may serve to dissuade them from completing their purchases. Online retailers pour tremendous resources into gaining virtual shelf space on the Web. This is primarily done through search engine optimization and search engine marketing methods. However, the job is not done when customers arrive at an online retailer’s site; making the sale is paramount. If visitors have any uncertainties during the shopping process, this will invariably reflect in the final purchase decision. It’s vitally important to do everything possible to minimize those uncertainties or even eliminate them entirely. The goal is therefore to boost shoppers’ confidence in order to generate more conversions and increased shopping cart value.

Engaging with Customers

Online retailers are well aware that there is a significant volume of “Lost Trade” – known as the Abandonment Rate – between the time that a customer starts browsing, selects items for purchase, and attempts to check out and pay. It is at this very juncture – the uncertainty stage – that an effective customer experience strategy can decrease this abandonment at each of the different stages, recoup some of the lost sales and boost overall ROI. Of course, the effectiveness of instant accurate web self-service tools in terms of incremental sales is dependent upon the experience and the quality of the support that is offered to customers. nanorep provides online retailers with premium-quality Q&A tools that make information seamlessly available and accessible to boost the overall customer engagement and shopping experience. The immediacy and accuracy of the answers provided goes a long way towards assuaging customer concerns, thus generating a higher conversion rate and a higher average sale price.

The secret to the effectiveness of nanorep rests in the proficiency, accuracy and real-time engagement that are offered. Customers have access to immediate real-time assistance from any page or even social channels whenever they need it. In addition, customers can easily access FAQs on a certain product or service they are interested in without having to dig for information, leave the page they are on or wait for assistance. The web self-service engagement strategy  provided by nanorep works around the clock, so customers everywhere can enjoy service excellence. The result is that incremental sales are boosted.

By providing this terrific customer support software, trust is established and uncertainty is eliminated. Many times, customers will go so far as the final checkout stage and then abandon their purchases. This could be the result of not having all the relevant information available or actually discovering new facts about the products or services. The net effect of this lack of knowledge is diminished confidence in completing the purchase.  Fortunately, with nanorep this is being reversed and significant improvements in sales are being seen.

The Convenience of Online Shopping with the Confidence of In-Store

In truth, online retailers lose scores of customers throughout the online shopping process. However, it is entirely possible to decrease the abandonment rates and boost the conversion rates of those customers who go through the process of adding items to the shopping cart. One of the main reasons for abandoning the purchase is lack of information. In other words, shoppers have a lack of confidence when swiping their card and committing to the purchase. So, if it is possible to provide a better service and an improved flow of information, it is entirely possible to significantly raise shoppers’ confidence. This will have the added effect of  dramatically increasing the overall sales figures. By interacting with more visitors and providing them with better service and a more hands-on experience, these numbers can be boosted dramatically.

Numbers suggest that customers who interact with nanorep web self-service tools are 5 times more likely to complete their purchases than those who don’t. In addition, the figures reflect that users, who interact with the nanorep customer support software, receive all the information they need and spend on average 50% more on each purchase. The net effect of this web self-service engagement strategy and superior customer service software is an incredible boost in revenue, compliments of nanorep.

Roy Goffer
Roy is Nanorep’s Director of Marketing. He has 10 years of experience in marketing technological solutions and writes about online customer experience.

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