Today, social media spending makes up a small fraction of most business’ marketing budgets. A recent Duke University survey found that, on average, social media spending accounted for just 9% of the overall budget. But that number is projected to expand to nearly 22% in the next five years.
If you run your own ecommerce store, then you will undoubtedly spend a lot of time analyzing the statistics for your site. Whether you have just released a new product and want to know how popular it is, or want to know which products are selling best overall, statistics can give you almost any information you want. However, there are some pitfalls that many website owners make when analyzing their website statistics. Pim Bellinga, Founder of I Hate Statistics has come up with some of most-often made mistakes that website owners make.
Forget about ecommerce for a moment! Imagine trading one of your prized cattle for a piece of land to raise your family in 7000 BC. That’s how it was done back then. Boy how times have changed. Now think about the first ATM in 1972, and how remarkable it was for people to walk up to a magical machine that spewed out physical cash after a few button clicks.
The history of ecommerce is truly amazing, so we compiled a story of 11,000 years in 30 seconds, by using another modern marvel: animated GIFs. Have a look below and scroll down for the full infographic.
Shopping cart abandonment is a phenomenon that is common in e-commerce. It is an idea that shows the proportion between the number of people who commit to an online purchase and the number of the possible customers who leave the sites at some point, without checking out. Sadly, the registered abandonment rate, as stated by many specialists in the field, is around 60% and up to 80%. We will try to discuss several tips that could be implemented in order to improve the conversion rates and reduce the number of people abandoning your shopping cart.
Did you know that 73% of companies have no idea as to why their customers abandon their shopping carts without buying? This is a troubling statistic considering the internet is filled with tools to help you understand why people don’t convert into paying customers, and most successful ecommerce stores run tests and reports to make changes for improving cash flow.
There are plenty of inspirational fashion stores and these 60 were chosen for their clean design, great UX or creative products. While in a brick and mortar store the assistant can help people entering the store to decide what to buy, in the online world it’s completely different. 90% of visitors want to see great design paired with awesome products, easy-to-read fonts (but matching the overall design!), and so on.
This is a guest post by Adrienne Dancer of Beat Bop Boom.
You might wonder why have an Etsy shop if we already have our own main e-commerce site. The reason is that Etsy has been a great way for us to reach out to customers all over the world in a very cost-effective way. Etsy is growing in popularity and a major competitor with eBay–and I prefer the design and product focus that Etsy offers compared to eBay. (I see eBay like a big yard sale, whereas Etsy has more of a boutique shop feel.) Plus, Etsy's fee structure and features are much more business-friendly compared to eBay if you are selling fixed-priced items and not interested in auction-style pricing.
We make fast decisions on whether to engage or not with a website based on whatever we can make out in regard to the website in the very first moments. The responsibility for making a good first impression lies with designers, developers and site owners. Given the opportunity of pursuing a visitor which is really small, most designs don’t really fulfill the criteria of a perfect website that would satisfy every visitor’s interests. However, most websites do not exist just to impress visitors. Most websites exist to be efficient and sell. Whether it is to get visitors to subscribe to the blog feed, or to download a trial, every website ultimately exists to make a sale of some kind.