November 13, 2024 • 11 mins
Unlock the secrets to skyrocketing your e-commerce conversion rates and transform your online store into a sales powerhouse. Ever wondered how big brands leverage social proof to earn your trust? We're here to spill the beans on some trailblazing strategies that go beyond the typical tips, focusing on user-generated content and behavior-based trigger messaging. Discover how showcasing real customer videos can work wonders on your landing pages, and learn about advanced tactics like exit-intent offers and AI-driven chatbots that gently nudge your customers to hit that 'buy' button. We'll share practical examples and discuss platforms like Gorgias that integrate seamlessly with Shopify, offering context-aware assistance to enhance the user experience and increase those conversion rates.
But that's not all — we delve into maximizing your e-commerce performance metrics, including driving quality traffic and boosting average order value. By optimizing these critical areas, we aim to provide you with a comprehensive strategy to significantly elevate your business's performance. And as if that wasn't enough, we're teasing a sneak peek into our upcoming episode, where we'll tackle enhancing customer lifetime value and fostering repeat engagement. So, get ready to arm yourself with actionable insights that will propel your e-commerce success story to new heights.
The Digital Horizons Podcast is hosted by:
James Walker - Managing Director WHD
Brian Hastings - Managing Director Nous
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Welcome back to Digital Horizons.
It's the channel for businessowners, marketers and e-commerce
entrepreneurs looking to stayon top of marketing strategies
that are working right now.
Speaker 2 (00:12):
I'm James Walker and this is Brian.
Today we're continuing on withour four-part series, which is
around the four levers toincrease your overall revenue
within your e-commerce store,and today we are talking about
how to increase your conversionrate.
Speaker 1 (00:24):
I'd also like to point out that we somehow
managed to pick the exact samecolor shirt again, for that
Happens every week?
Yeah, this would have been fineif it was only an audio podcast
.
Speaker 2 (00:34):
I know, and also not just such a, I guess not a very
common shirt Common color.
Speaker 1 (00:39):
It's like we're planning this.
Speaker 2 (00:40):
Yeah, so we've got that happening and we're aware
of it, so thank you for anyonewho wants to point that out.
Speaker 1 (00:45):
This week we're talking about conversion rate.
We didn't want to touch on thetypical things that we'd expect
any marketer or e-commerceentrepreneur would have already
been trying, so we're not goingto spend too much time on things
like landing page optimizationor making sure the right payment
platforms are included.
We've either already talkedabout that in some of the
earlier stuff or we would expectyou'd be trying these things.
(01:08):
We're going to try and coveroff some of the other levers we
typically look at over and abovemaybe a little bit more
advanced levers that you can useto increase the conversion rate
.
So let's get into the first oneleverage social proof on the
landing page with user-generatedcontent.
Speaker 2 (01:24):
Yeah, I really like this one and when it's been done
it works really well.
So we all know that UGC contenton your social campaigns is
really powerful and works reallywell.
But then continuing thatthrough to the experience that
people are having on the landingpage so they're checking out
your product images.
You've got all your sellingpoints.
You've got everything on yourproduct page that's going to
help convert people.
But then also showing contentthat is being created not from
(01:46):
the business but from peopleactually using or experiencing
your product goes a long way toincrease confidence that it's
going to be the right purchaseand help with that conversion.
Speaker 1 (01:53):
And that can be done as small as having the user
reviews actual, real ones thatinclude images.
But I think what we'd like tosee here, and what we're talking
about, is actual video of theproduct in use and a space for
that video to play at a largersize, rather than just 4.5 out
of five stars and a few textreviews.
Speaker 2 (02:14):
I think I just don't believe them as much either.
Speaker 1 (02:17):
I feel like, if you're going to, watch someone
actually using Experience theProduct.
Speaker 2 (02:20):
It's just so much more believable because everyone
knows you can put some fakereviews on your page.
It's so easy to generate thembut it's much harder.
I mean, you can still do it,but it's much more work has to
go into faking a review ifyou're getting video content
done.
Speaker 1 (02:32):
And I feel like the video version, like it's easier
for me as a customer to feellike it's real.
I can tell yeah it looks likesomeone's real house, it doesn't
look like a polished agency hasdone this and you can see the
warts and all version of theproduct and get over that trust
issue you might have because younever heard of the brand before
(02:52):
.
Speaker 2 (02:53):
Yeah, and if you're already getting this content
created for your socialcampaigns, why not?
I mean, you've got the assetsalready there.
Put them through.
Just put them on your website.
Speaker 1 (02:59):
It's going to help increase your conversion rate,
yeah conversion rate, yeah, andchances they've seen all of your
ads is low, so make sure thatthey're sitting on that page.
So that's a good one andsomething that, if you've
already got that content, youcould get done pretty quickly
and easily A hundred percent.
The next one behavior-basedtrigger messaging.
So, yeah, exit intent andthings like that.
Speaker 2 (03:17):
Yeah.
So this is looking at what arepeople doing on your website and
then having triggers that arethen going to allow you to help
push people further along thatconversion path.
So what we mean here is, say,someone's on your product page
and they've spent I don't know Xamount of time on the page,
maybe researching, looking atyour information on there, or
maybe scrolled a certain waydown.
If you've got a longer salespage for your products and then
(03:37):
having a message pop up thatcould be hey, you know, do you
have any questions?
Can we help out with this?
Or, as much as you know, anexit intent one, and these have
been around for a long time.
But when people are scrollingoff to then throw up a last
chance offer, that might be youknow, get 10% off if you want to
complete your purchase in thenext 24 hours.
Stuff like this is going toreally help with that conversion
path and just understanding howthis can help, because you
(03:59):
don't want to be throwing outoffers just for the sake of it,
because people potentially weregoing to buy anyway, so you
don't want to minimize yourmargin there.
Speaker 1 (04:04):
Absolutely, and I think now we've got available to
us more advanced behavioraltriggered actions like useful
chatbots that are AI-drivenchatbots that can pop up to help
, rather than previously we'veused OptiMonster for exit intent
.
But how good would it be tooffer a reliable chatbot that
(04:26):
knew information about theproduct or service and, when
they could see the user wasdoing a bit of research or
missed a bit of key content,that you could throw that
information into the mix at theright time?
What's the platform that youwere using?
Speaker 2 (04:39):
for that One that we use on Shopify stores is called
Gorgias G-O-R-G-I-A-S, and thatone is quite a powerful one
because it is integrated intoyour Shopify store.
So when you're looking at thedata within that, and even for
your customer support team,they've got access to everything
all in the one spot.
Speaker 1 (04:54):
Yeah, and I'm not sure if OptiMonster has the
chatbot option.
We've only ever used it forexit intent, so I think for a
more advanced option, use thegorgeous version.
The third lever Optimize formicro conversions.
Speaker 2 (05:05):
Yeah, so what this is ?
I guess we know that theultimate goal is to sell more
shit, right, but there's goingto be different things that a
user goes along that journeythat gets them to that point and
if you can get a goodunderstanding of, all right,
cool.
We know that if someone's optedinto our email newsletter or if
they've watched this video onthe product page or I don't know
they've been back to theproduct page or clicked around
to a number of pages within yourwebsite, they're more likely to
(05:26):
complete that purchase.
And then if you start lookingthrough that journey and then go
, all right, well, if I'm ableto get them X amount more people
to opt into my newsletter, xamount more people to be able to
watch the video by putting itsomewhere that's more visible or
something like that, justlooking at these micro touch
points that are occurring, sothen you can sort of lift the
path and the amount of peoplethat are making it through to
your conversion and thereforeincreasing your conversion rate.
Speaker 1 (05:49):
And the way to do this is retrospectively looking
at your conversions and whatactions have they taken on your
site prior to that conversionand trying to identify trends of
well, most of my conversionshave either downloaded this
piece of content or watched thisparticular video to this point.
A good example of where we'veused this for one of our clients
(06:09):
.
They're a SoutheastQueensland-based home builder,
so a big conversion value if wecan get a lead that converts.
We're producing a lot of leadmagnet type content for them
guides on how to pick or planyour home build or what to watch
out for when you're looking atdisplay homes things like that.
We looked at all of theircontracts that they had in the
(06:31):
past year and tried to identifyactions that they'd taken on
site through the marketingautomation tool we use with them
and found that 72% of all oftheir contracts that the email
addresses had downloaded orrequested one of these guides or
books prior to converting withthe property.
So it did also confirm thevalue of these research tools,
(06:54):
but it also showed that there isvalue in those conversions.
They might not lead to adisplay home visit straight away
, but they're definitely thepath that we typically see their
conversions take beforechoosing to build with this
brand.
Speaker 2 (07:08):
Yeah, and the key to understanding all this is making
sure you've got all this taggedup right, because if you don't
have your tracking in place.
If you're not using Google TagManager or something to actually
be able to analyze this data,you'll never know what that
conversion path looks like.
So if you're not doing it, makesure that you do get tag
manager set up or whatever tagup everything you can possibly
do on your website, so that wayyou can start analyzing that
conversion path and understandwhat metrics you're able to move
(07:30):
the needle on.
Speaker 1 (07:31):
Yeah, it definitely makes it a lot easier.
In the case of that builderexample, we had to export all
the email addresses from theircontracts management tool and
match them with the marketingautomation data and for all we
know it might have been adifferent email put on the
contract.
But it's still good to look ateven if you haven't matched it
up.
But it will inspire you to getyour data all matched up so you
(07:51):
can pull this information easiernext time.
The next lever Well, it's notthe lever the next tactic in
this lever.
Speaker 2 (07:58):
We've got all the other levers so far today, so
why change it now?
Speaker 1 (08:00):
right, they're all levers yeah, this one is create
a sense of urgency withcountdown timers or scarcity,
probably a little bit obvious,but it works.
Speaker 2 (08:08):
It does, and I mean this is something you can go and
implement right now.
The others are sort of allright, you're going to have to
get the data and dig into thedata, but If you haven't got
something like that running atthe moment, that you feel all
right, look, I'd love to see abump in my conversion rate.
Just put on some kind of thingthat's going to add some kind of
urgency, because most peoplearen't going to purchase the
first time they come to thewebsite.
They may be thinking about itfor a while, especially if it's
a bit more of a higherconsideration product.
(08:29):
So by adding something thatcould be it may not be on sale,
we're going to be running out ofstock soon because this is our
busiest period of the year.
So make sure you buy or you maymiss out.
So just having something onthere that creates some level of
urgency is going to make yourconversion rate increase.
Speaker 1 (08:47):
Yeah, that's right, and if your product isn't likely
to run out, the offer can.
Speaker 2 (08:51):
So that could be the thing that has the scarcity.
Speaker 1 (08:55):
Also, in reference to the first point we made today,
leverage social proof with usergenerated content.
You can also add at this stage,someone from this suburb has
just purchased.
Speaker 2 (09:06):
I've seen a lot of those little things.
Do you believe them?
I don't believe them.
Speaker 1 (09:09):
I'm looking, I'm going.
Speaker 2 (09:10):
This thing's just putting up random names and
addresses.
Speaker 1 (09:13):
I'm too close to it, Because I've installed it on
other client sites and I knowit's mostly bullshit it is
pulling actual sales data, butit's from weeks ago, yes, and
making it seem like it was justpurchased.
Speaker 2 (09:27):
That's right, Because it kind of looks like the
velocity of orders and sometimesyou can tell on a website it's
like this is pretty good.
There's no way this website isgetting orders at the rate that
this thing's popping up whileI'm on here.
I agree, but I think.
Most people are not going to beconsidering it.
Speaker 1 (09:40):
Yeah, yeah, and I think, while we are probably
attuned to it, it still worksfor the typical customer.
Speaker 2 (09:46):
It does send a signal that, hey, other people are
actually buying this shit.
Speaker 1 (09:49):
Yeah, but those ones aren't necessarily scarcity.
Speaker 2 (09:52):
That's more social proof, whereas this is what
we're talking about is more thattiming and countdown times yeah
, whereas this is what we'retalking about is more that
timing and countdown times andthere's a whole bunch of plugins
and stuff you can find forWooCommerce and Shopify or
whatever that do this kind ofstuff.
Yeah, there's a million of them.
Speaker 1 (10:05):
There's the obvious stuff that you should be already
on top of and if you're runninga successful e-com store, you
would have probably already donethis.
Site speed, smooth conversioncheckout process Using Shopify
it's pretty smooth anyway Havingthe right payment gateways or
payment platforms, afterpayoptions, all that stuff we would
sort of expect you've tried orare trying, and these are some
(10:29):
other options you can add intothe mix and I think you should
give them a go, especially onesyou can just turn on right now,
like that scarcity timer.
Speaker 2 (10:36):
Yes, we're now at the end of the third lever for
growing your e-commerce revenue.
So first, we're talking aboutdriving more traffic to your
website, or good quality trafficto your website.
Next, we were covered off onaverage order value, so you're
sending more people to yourwebsite and then they are
spending more.
And now this today, it's onconversion rate, so we're
converting more of thosecustomers.
So when we're thinking about it, and as we put forward at the
(10:57):
beginning, is that if we canlift all three of these metrics
and then the fourth one nextweek that we're talking about,
which is lifetime value, you'regoing to see a very large
increase in your overallperformance.
And just continually looking athow you want to optimize each
one of these different levers,on their own, they're going to
have a big impact.
Speaker 1 (11:12):
Yeah, absolutely.
I think I'm already feelinglike we've done lifetime value
because we've done average ordervalue, but there's still a lot
more to talk about in thelifetime value side of things
like how to how to get people tocome back.
Yeah, absolutely.
So that's it for this lever forthis week, and we'll be back
next week with the final in theseason for this four-part series
.
Speaker 2 (11:32):
So thank you for watching today.
Welcome back to Digital Horizons.
It's the channel for businessowners, marketers and e-commerce
entrepreneurs looking to stayon top of marketing strategies
that are working right now.
Speaker 2 (00:12):
I'm James Walker and this is Brian.
Today we're continuing on withour four-part series, which is
around the four levers toincrease your overall revenue
within your e-commerce store,and today we are talking about
how to increase your conversionrate.
Speaker 1 (00:24):
I'd also like to point out that we somehow
managed to pick the exact samecolor shirt again, for that
Happens every week?
Yeah, this would have been fineif it was only an audio podcast
.
Speaker 2 (00:34):
I know, and also not just such a, I guess not a very
common shirt Common color.
Speaker 1 (00:39):
It's like we're planning this.
Speaker 2 (00:40):
Yeah, so we've got that happening and we're aware
of it, so thank you for anyonewho wants to point that out.
Speaker 1 (00:45):
This week we're talking about conversion rate.
We didn't want to touch on thetypical things that we'd expect
any marketer or e-commerceentrepreneur would have already
been trying, so we're not goingto spend too much time on things
like landing page optimizationor making sure the right payment
platforms are included.
We've either already talkedabout that in some of the
earlier stuff or we would expectyou'd be trying these things.
(01:08):
We're going to try and coveroff some of the other levers we
typically look at over and abovemaybe a little bit more
advanced levers that you can useto increase the conversion rate
.
So let's get into the first oneleverage social proof on the
landing page with user-generatedcontent.
Speaker 2 (01:24):
Yeah, I really like this one and when it's been done
it works really well.
So we all know that UGC contenton your social campaigns is
really powerful and works reallywell.
But then continuing thatthrough to the experience that
people are having on the landingpage so they're checking out
your product images.
You've got all your sellingpoints.
You've got everything on yourproduct page that's going to
help convert people.
But then also showing contentthat is being created not from
(01:46):
the business but from peopleactually using or experiencing
your product goes a long way toincrease confidence that it's
going to be the right purchaseand help with that conversion.
Speaker 1 (01:53):
And that can be done as small as having the user
reviews actual, real ones thatinclude images.
But I think what we'd like tosee here, and what we're talking
about, is actual video of theproduct in use and a space for
that video to play at a largersize, rather than just 4.5 out
of five stars and a few textreviews.
Speaker 2 (02:14):
I think I just don't believe them as much either.
Speaker 1 (02:17):
I feel like, if you're going to, watch someone
actually using Experience theProduct.
Speaker 2 (02:20):
It's just so much more believable because everyone
knows you can put some fakereviews on your page.
It's so easy to generate thembut it's much harder.
I mean, you can still do it,but it's much more work has to
go into faking a review ifyou're getting video content
done.
Speaker 1 (02:32):
And I feel like the video version, like it's easier
for me as a customer to feellike it's real.
I can tell yeah it looks likesomeone's real house, it doesn't
look like a polished agency hasdone this and you can see the
warts and all version of theproduct and get over that trust
issue you might have because younever heard of the brand before
(02:52):
.
Speaker 2 (02:53):
Yeah, and if you're already getting this content
created for your socialcampaigns, why not?
I mean, you've got the assetsalready there.
Put them through.
Just put them on your website.
Speaker 1 (02:59):
It's going to help increase your conversion rate,
yeah conversion rate, yeah, andchances they've seen all of your
ads is low, so make sure thatthey're sitting on that page.
So that's a good one andsomething that, if you've
already got that content, youcould get done pretty quickly
and easily A hundred percent.
The next one behavior-basedtrigger messaging.
So, yeah, exit intent andthings like that.
Speaker 2 (03:17):
Yeah.
So this is looking at what arepeople doing on your website and
then having triggers that arethen going to allow you to help
push people further along thatconversion path.
So what we mean here is, say,someone's on your product page
and they've spent I don't know Xamount of time on the page,
maybe researching, looking atyour information on there, or
maybe scrolled a certain waydown.
If you've got a longer salespage for your products and then
(03:37):
having a message pop up thatcould be hey, you know, do you
have any questions?
Can we help out with this?
Or, as much as you know, anexit intent one, and these have
been around for a long time.
But when people are scrollingoff to then throw up a last
chance offer, that might be youknow, get 10% off if you want to
complete your purchase in thenext 24 hours.
Stuff like this is going toreally help with that conversion
path and just understanding howthis can help, because you
(03:59):
don't want to be throwing outoffers just for the sake of it,
because people potentially weregoing to buy anyway, so you
don't want to minimize yourmargin there.
Speaker 1 (04:04):
Absolutely, and I think now we've got available to
us more advanced behavioraltriggered actions like useful
chatbots that are AI-drivenchatbots that can pop up to help
, rather than previously we'veused OptiMonster for exit intent
.
But how good would it be tooffer a reliable chatbot that
(04:26):
knew information about theproduct or service and, when
they could see the user wasdoing a bit of research or
missed a bit of key content,that you could throw that
information into the mix at theright time?
What's the platform that youwere using?
Speaker 2 (04:39):
for that One that we use on Shopify stores is called
Gorgias G-O-R-G-I-A-S, and thatone is quite a powerful one
because it is integrated intoyour Shopify store.
So when you're looking at thedata within that, and even for
your customer support team,they've got access to everything
all in the one spot.
Speaker 1 (04:54):
Yeah, and I'm not sure if OptiMonster has the
chatbot option.
We've only ever used it forexit intent, so I think for a
more advanced option, use thegorgeous version.
The third lever Optimize formicro conversions.
Speaker 2 (05:05):
Yeah, so what this is ?
I guess we know that theultimate goal is to sell more
shit, right, but there's goingto be different things that a
user goes along that journeythat gets them to that point and
if you can get a goodunderstanding of, all right,
cool.
We know that if someone's optedinto our email newsletter or if
they've watched this video onthe product page or I don't know
they've been back to theproduct page or clicked around
to a number of pages within yourwebsite, they're more likely to
(05:26):
complete that purchase.
And then if you start lookingthrough that journey and then go
, all right, well, if I'm ableto get them X amount more people
to opt into my newsletter, xamount more people to be able to
watch the video by putting itsomewhere that's more visible or
something like that, justlooking at these micro touch
points that are occurring, sothen you can sort of lift the
path and the amount of peoplethat are making it through to
your conversion and thereforeincreasing your conversion rate.
Speaker 1 (05:49):
And the way to do this is retrospectively looking
at your conversions and whatactions have they taken on your
site prior to that conversionand trying to identify trends of
well, most of my conversionshave either downloaded this
piece of content or watched thisparticular video to this point.
A good example of where we'veused this for one of our clients
(06:09):
.
They're a SoutheastQueensland-based home builder,
so a big conversion value if wecan get a lead that converts.
We're producing a lot of leadmagnet type content for them
guides on how to pick or planyour home build or what to watch
out for when you're looking atdisplay homes things like that.
We looked at all of theircontracts that they had in the
(06:31):
past year and tried to identifyactions that they'd taken on
site through the marketingautomation tool we use with them
and found that 72% of all oftheir contracts that the email
addresses had downloaded orrequested one of these guides or
books prior to converting withthe property.
So it did also confirm thevalue of these research tools,
(06:54):
but it also showed that there isvalue in those conversions.
They might not lead to adisplay home visit straight away
, but they're definitely thepath that we typically see their
conversions take beforechoosing to build with this
brand.
Speaker 2 (07:08):
Yeah, and the key to understanding all this is making
sure you've got all this taggedup right, because if you don't
have your tracking in place.
If you're not using Google TagManager or something to actually
be able to analyze this data,you'll never know what that
conversion path looks like.
So if you're not doing it, makesure that you do get tag
manager set up or whatever tagup everything you can possibly
do on your website, so that wayyou can start analyzing that
conversion path and understandwhat metrics you're able to move
(07:30):
the needle on.
Speaker 1 (07:31):
Yeah, it definitely makes it a lot easier.
In the case of that builderexample, we had to export all
the email addresses from theircontracts management tool and
match them with the marketingautomation data and for all we
know it might have been adifferent email put on the
contract.
But it's still good to look ateven if you haven't matched it
up.
But it will inspire you to getyour data all matched up so you
(07:51):
can pull this information easiernext time.
The next lever Well, it's notthe lever the next tactic in
this lever.
Speaker 2 (07:58):
We've got all the other levers so far today, so
why change it now?
Speaker 1 (08:00):
right, they're all levers yeah, this one is create
a sense of urgency withcountdown timers or scarcity,
probably a little bit obvious,but it works.
Speaker 2 (08:08):
It does, and I mean this is something you can go and
implement right now.
The others are sort of allright, you're going to have to
get the data and dig into thedata, but If you haven't got
something like that running atthe moment, that you feel all
right, look, I'd love to see abump in my conversion rate.
Just put on some kind of thingthat's going to add some kind of
urgency, because most peoplearen't going to purchase the
first time they come to thewebsite.
They may be thinking about itfor a while, especially if it's
a bit more of a higherconsideration product.
(08:29):
So by adding something thatcould be it may not be on sale,
we're going to be running out ofstock soon because this is our
busiest period of the year.
So make sure you buy or you maymiss out.
So just having something onthere that creates some level of
urgency is going to make yourconversion rate increase.
Speaker 1 (08:47):
Yeah, that's right, and if your product isn't likely
to run out, the offer can.
Speaker 2 (08:51):
So that could be the thing that has the scarcity.
Speaker 1 (08:55):
Also, in reference to the first point we made today,
leverage social proof with usergenerated content.
You can also add at this stage,someone from this suburb has
just purchased.
Speaker 2 (09:06):
I've seen a lot of those little things.
Do you believe them?
I don't believe them.
Speaker 1 (09:09):
I'm looking, I'm going.
Speaker 2 (09:10):
This thing's just putting up random names and
addresses.
Speaker 1 (09:13):
I'm too close to it, Because I've installed it on
other client sites and I knowit's mostly bullshit it is
pulling actual sales data, butit's from weeks ago, yes, and
making it seem like it was justpurchased.
Speaker 2 (09:27):
That's right, Because it kind of looks like the
velocity of orders and sometimesyou can tell on a website it's
like this is pretty good.
There's no way this website isgetting orders at the rate that
this thing's popping up whileI'm on here.
I agree, but I think.
Most people are not going to beconsidering it.
Speaker 1 (09:40):
Yeah, yeah, and I think, while we are probably
attuned to it, it still worksfor the typical customer.
Speaker 2 (09:46):
It does send a signal that, hey, other people are
actually buying this shit.
Speaker 1 (09:49):
Yeah, but those ones aren't necessarily scarcity.
Speaker 2 (09:52):
That's more social proof, whereas this is what
we're talking about is more thattiming and countdown times yeah
, whereas this is what we'retalking about is more that
timing and countdown times andthere's a whole bunch of plugins
and stuff you can find forWooCommerce and Shopify or
whatever that do this kind ofstuff.
Yeah, there's a million of them.
Speaker 1 (10:05):
There's the obvious stuff that you should be already
on top of and if you're runninga successful e-com store, you
would have probably already donethis.
Site speed, smooth conversioncheckout process Using Shopify
it's pretty smooth anyway Havingthe right payment gateways or
payment platforms, afterpayoptions, all that stuff we would
sort of expect you've tried orare trying, and these are some
(10:29):
other options you can add intothe mix and I think you should
give them a go, especially onesyou can just turn on right now,
like that scarcity timer.
Speaker 2 (10:36):
Yes, we're now at the end of the third lever for
growing your e-commerce revenue.
So first, we're talking aboutdriving more traffic to your
website, or good quality trafficto your website.
Next, we were covered off onaverage order value, so you're
sending more people to yourwebsite and then they are
spending more.
And now this today, it's onconversion rate, so we're
converting more of thosecustomers.
So when we're thinking about it, and as we put forward at the
(10:57):
beginning, is that if we canlift all three of these metrics
and then the fourth one nextweek that we're talking about,
which is lifetime value, you'regoing to see a very large
increase in your overallperformance.
And just continually looking athow you want to optimize each
one of these different levers,on their own, they're going to
have a big impact.
Speaker 1 (11:12):
Yeah, absolutely.
I think I'm already feelinglike we've done lifetime value
because we've done average ordervalue, but there's still a lot
more to talk about in thelifetime value side of things
like how to how to get people tocome back.
Yeah, absolutely.
So that's it for this lever forthis week, and we'll be back
next week with the final in theseason for this four-part series
.
Speaker 2 (11:32):
So thank you for watching today.
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