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While a small change in your sales conversion rate will have a great impact on revenues, most website owners are unaware of this and are losing sales.
Problem # 3 The proximity of
competition
According to Nielsen/Netratings, February 2003,
average visitor spends only 55 seconds per webpage. In less than a minute, your visitors decide whether to continue viewing your pages or click away.
How many of your competitors are online? Find out now by going to your favorite search engine and typing in keywords prospective customers would use when looking for your business. How many options do your potential customers have?
Even if a visitor wants what you offer, he is tempted to comparison shop. It's very easy to click and go to another site. Are you doing everything you can to get customers to buy from you?
Problem # 4 Price-shopping
If you sell something exclusive, price-shopping wouldn't be a problem for you until competition shows up on
scene.
However, if you sell products that other websites offer, then you'll find intense pressure to lower your prices. Search engines give prospective customers a list of options. Plus, there are price comparison websites like Pricegrabber, MySimon and Dealtime that make it easy for consumers to price-shop. They give their users prices from several websites.
Problem # 5 Shopping cart abandonment
A visitor decides to buy from you. Somewhere between placing items in
shopping cart and completing
purchase they leave your website, usually for good.
More than 60 percent of online shoppers abandon purchases before completing
credit card transaction, according to Gartner Group, Inc. Which means if 40 people buy from you, 100 started to buy from you. Imagine how many more sales you'd have if you prevented some of these abandoned carts.
Identifying
toughest problems facing online retailers is
first step in dealing effectively with them.
