Online Retailers – Sell More From Your Website!
Your biggest problem is not traffic – it is conversion.
According to Internet Retailer, “….the average conversion rate for e-commerce sites is only 1% to 3%.” Even more troublesome, the Baymard Institute estimates that in 2015, “….shopping cart abandonment statistics averaged 68.54%”, which means that two out of every three consumers that place an item in their shopping cart on your website, left your website without purchasing from you. They also estimate that “70% of customers load their shopping carts and then mysteriously disappear, the number is even more alarming on mobile with 97% of mobile transactions abandoned!”. Further, “….nearly $4 trillion will be abandoned and left in shopping carts in 2016.”
WHY?
Study after study concludes the number one reason that a consumer abandons an online shopping cart is PRICE.
The internet is far and away the most disruptive influence on consumer shopping behavior. According to Gene Alvarez, the Managing Vice President of Research for Gartner, “….consumers are recognizing that the internet is the place to go for a deal any time, any day.”
Consumers have round the clock access to multiple online selling sites and they are using this disruptive technology to their advantage, to not simply compare prices, but to actually find lower prices for an identical item on another seller’s site and transact on their terms, at a price they are willing to pay.
How much more money could you make if you could increase your conversion rate from 1% to 2%, or even 5%? How much more profitable would your business be if you could reduce, if not eliminate the temptation for a consumer to leave your site and search other seller’s sites for their prices?
At Infinite Buyer, we have developed a conversion optimization solution for today’s online selling marketplace that keeps consumers on your site and allows them the opportunity to digitally negotiate and transact with you, not with your competitors.
With Infinite Buyer’s “Make Your Deal” conversion optimization tool, you can set a range of price points, that will automatically and immediately respond to a consumer’s offer on any item in your inventory. The price points you set are confidential and protected, plus they are totally within only your control. With Infinite Buyer’s “Make Your Deal” button, you will never transact at a price lower than what you define and you might actually enjoy some transactions at a higher price point, with better margins, because a consumer is willing to pay more based on their needs.
Benefits of Selling More on Your Website
- Increased sales, as consumers are staying on your site to transact, rather than searching the internet for lower prices, or alternatives
- Improved operating margin, with lower transaction fees than either Amazon or E-Bay
- Improved ROI for your advertising and SEO investments
- Improved “brand”, as consumers will realize that you are interested in transacting with them at a price point below suggested retail
- UpSell opportunities from your inventory, as consumers can browse your other inventory, rather than Amazon and Ebay listings from other sellers