Not every time you purchase products by directly adding them to the cart and checking out immediately. You often save some products for final review and add them to your wish list. The term ‘wish list’ sounds fascinating. In eCommerce, users can add all the products they are liking and willing to buy sooner or later to their wish list. Users won’t have to add to their cart until they’re ready to check out.
There is a high cart abandonment rate for most e-commerce brands, but few know how to reduce it. Abandoned cart reminder email strategies were addressed in a previous blog post that surely works. In this article, you will learn how a wish list can improve conversions in your OpenCart store. You can also find out about the most popular products and categories of the store that you can use in making marketing strategies and inventory management.
What is a wish list?
The wish-list feature enables e-commerce clients to build a list of goods that they are not yet ready to purchase, but that they plan to buy for themselves or receive as a gift in the future. Wish lists provide shoppers with a convenient way to arrange the items they want, making it unnecessary for quick reminders to use the shopping cart.
Not only do well-built wish lists lower the rate of cart abandonment (because of shoppers), they help boost the site’s customer experience by making it easier for customers to purchase from you and inspiring others to do the same.
Why do you need a wish-list or save for later option in your eCommerce store?
Besides the obvious advantage of enhancing the shopping experience of the consumer, Wishlist has the potential to provide online retailers with a much broader, strategic value. A Wishlist provides an incentive for clients to save products “for later” if at that moment they do not commit to a purchase and find them easily once they return to your shop.
You will give your prospects a chance to save the items they will later show interest in.
They help you keep track of what your customers want.
They help you predict stock levels properly and manage inventory.
You can use the wishlist data to have targeted marketing
Easily assess the efficacy of your overall marketing activities by monitoring which goods end up on the wishlists of your customers.
Every Thing about OpenCart Wish List Module
1. Attractive front-end representation
The wish list display should be attractive and clean. The look and feel of the front-end of the OpenCart Advance Wish List Module are neat and clean. It has a direct call to action button for adding products to the cart. You can edit want the button color, font, and other details according to the theme.
2. Allows customer to maintain a private wish list:
The OpenCart Wish List Module acts as a handy way to remember the items that made it to the list, which is particularly important for major future events, such as weddings, new babies, housewarmings, etc. when assembling gift lists or drawing shopping lists. Mobile shoppers find this feature especially appealing because on a smaller screen it saves a lot of “browsing” time.
3. Top Wish-listed Product and Categories
From this point of view, you might be tempted to suggest that you do not need a wishlist because you already know which of your best-selling items are. The advanced OpenCart wishlist addon helps the store vendor to evaluate the product that is most requested or most common. The category/product review reports can be presented by the OpenCart store admin in the form of a graph.
4. Wish list module does Customer Analysis
The favorite product list addon of OpenCart helps the eCommerce merchant to evaluate the customer lists with the shortlisted product quantities and other details.
5. Order Analysis Report
An Order listing tab is offered by the OpenCart wishlist extension. It allows the store manager to analyze the ordered products that were on the wishlist of the customers.
Benefits of OpenCart Wish List Module:
To see what items consumers save for later and what items they buy, you will analyze the data, which will help you find the underlying problems that hamper your sales: do customers need more data? Are they abandoning carts due to product price? Will discounts and deals work for them?
Conclusion: It improves the overall customer experience and for the merchant, it provides them with the data like the products that are most popular and frequently added to the cart. Some products are most added but least purchased. In that case, you can see where it is going wrong? Here the product analysis report will help.
In order to achieve the success in the eCommerce business, it is important to stay up to date with the latest trends in the industry. Staying abreast with the current technological advancements and market trends can keep you ahead of the competitors. One of the best ways to achieve your business goals is to steps into the shoes of the well-established businesses and get inspirations from them. The ideal workflow of the eCommerce business should attract the shoppers to the website, filer the prospective customers from the website traffic and then convert them into the paying customers. This can be done by improved customer experience, customer retention strategy and ultimately winning the customer loyalty.
It won’t be wrong to state that even the digital era word-of-mouth plays a vital role. If you offer better services and improved customer experience at your store, then, you will certainly win back old customers and attract new ones. Social media also provides a platform to the online sellers to reach out to the new customers. In this post, we will discuss the most popular strategies which will help you to achieve your business goals in the year 2018.
Strategy#1 Attracting New Customers and Retaining old ones:
Effective lead generation strategy is the secret of the success in the e-commerce. Most of the time, when you visit established e-commerce sites, you may come across the welcome popup offering enticing discounts on the first purchase. In order to avail of this special discount, the visitors need to provide their email-ids. All the top e-commerce giants leave no chances to capture the email-id of the customers. The email address is the best way to establish a new and long-lasting relationship with the customers.
Getting the email addresses of the visitors is not an easy task. In order to get the email id of the visitors, you need to offer special deals to the new visitors. You can offer free shipping or enticing discount on the first purchase. Most of the top brands use this strategy to reach out to the more customers.
How can you use this strategy for your online business?
Gamified Welcome Popup-
Gamification of the site is the best way to retain the customers. Spin and Win popup is a gamified popup which allows the visitors to win the enticing discounts by spinning the wheel just like the roulette-game. The Spin and Win popup is one of the best ways to display an interactive popup to gather the customer information. Customers need to enter their email ids to play the game. The gamified interface develops the interest of the customers and they happily provide their email-ids to play the game.
Exit Intent Popup monitors the mouse movement and as soon as the visitor intends to exit, it displays an awesome popup with the discount offer. Special encourages the customers to complete their purchase and helps you to grow your email list.
The latest trend in the eCommerce world is to offer free shipping. Customers prefer to buy with the free shipping option. Most of the sellers on the top marketplace like Amazon, Etsy, Walmart, eBay offers the free shipping.
Why is Free Shipping a must?
1) Shoppers Love Free Shipping option – According to the studies, the online shoppers prefer placing the order of the products if the shipping is free. 2) Competition – The marketplaces like Amazon, eBay, Walmart, Etsy and many more are expanding their presence and offering great benefits to the customers including the free shipping services. So, it is a must for the online business to offer free shipping to retain their existing customers. 3) Free shipping reduces shopping cart abandonment – Most of the time customer leave the cart abandoned because of the additional costs (shipping and taxes). 4) Free Shipping Increases Average Order Value – Shoppers buy more products to qualify for the free shipping.
Tactics to offer free shipping
1) One of the methods to offer free shipping is to include the shipping cost in the product price itself. This approach will work if you offer unique products to your niche market and there are not so many competitors.
2) You can create special promotional to offer free shipping on the products that have a higher margin.
3) You can offer free shipping only for a particular cart value. Orders with the cart value higher than the set limit will be eligible for the free shipping.
4) You can offer free shipping on special sale occasions or during the holiday season.
eCommerce extensions to offer better shipping services:
a) Free Shipping Manager
The Free Shipping Manager extension is available for the Prestashop platform. This addon allows the store admin to create the rules, terms and conditions for shipping charges. The merchants can fix the cart limit beyond which free shipping will be offered. This module can help you to increase revenue and conversion rate of the site. Click here for the details.
b) Shipping Cost by ZipCode:
Sometimes you need to offer shipping charges based on the location of the user. The Shiping Cost by ZipCode extension is the best way to offer shipping charges based on the location of the user. The Shipping Cost by ZipCode module is available for the Prestashop. Similar extension Product Availability check by ZipCode is available for the Magento 1 platform.
Strategy#3 Improve Customer Experience
Better customer experience at your store encourages the customer to browse more products which helps to increase the chances of the purchase. As per the latest trends in the industry, you should try to offer the best experience to the visitors to convert them into a customer.
There are following extensions which can be helpful to you to achieve the same.
a) Infinite Scroll
In the recent years, the growth of mobile devices brings a revolution in the eCommerce world. Now, most of the users prefer to browse the internet by using their handheld devices like mobiles and iPad. Infinite scrolling allows the users to browse more products with ease and improves the user experience for the touch devices. Moreover, the infinite scrolling option works efficiently while mobile browsing as well. Infinite Scroll extension developed by Knowband is available for the Magento 1, Magento 2 and Prestashop platforms.
b) Size Chart
If you sell Footwear or Clothing, then, a size chart on the product page is a must. The Size Chart helps the users to select the correct fit and also reduces the chances of the return. Size Chart extension developed by Knowband is available for the Magento 1, Magento 2, and Prestashop platforms.
c) Product Video
Instead of going through the long text, the users prefer to watch the video for the better understanding of the product. Product videos are more engaging than the text. Knowband offers the Product video extension which allows you to display the videos on the product pages from the video channels like YouTube, Vimeo. Product Video extension is available for the Prestashop, Magento 1 and OpenCart platforms.
d) Wishlist
With the dynamic growth of the marketplaces in the last few years, a new trend emerged in the eCommerce industry. Now shoppers prefer to search for the products on Google or marketplaces like Amazon, Etsy, Walmart, eBay, Cdiscount etc to get a better comparative price and offers before making their purchase decisions. Wishlist feature allows the shoppers to shortlist the products of their choice, so that, they can later place their order for the products. After adding the products to the Wishlist a shopper can access his/her wishlist any time. This saves the time of the shoppers as they can easily add the wishlist products to the cart to place their final order. The Wishlist extension is available for the Prestashop, Magento 1, Magento 2 and OpenCart platforms.
e) Express Checkout
The easy checkout process is the key factor to get the higher sales. Most of the online businesses provide the one step checkout to make the shopping experience of the shoppers hassle-free. One step checkout allows the user to enter the all the details at a single page and reduces the cart abandonment. The one step checkout allows the shoppers to create the account, place order as a guest or login to the account at the checkout page. Knowband offers the One Page Checkout module for the Magento 1, Magento 2, Prestashop and OpenCart platforms.
Strategy#4 Customer Retention Techniques
a) Helpdesk
If you have observed most of the online businesses offers the 24*7 chat support. Recently Chat Boats have also provided an effective tool to improve the customer engagements. By assisting the customers and visitors to make their purchase decisions and after sale inquires you can develop a bond between your brand and the customers. This long-lasting relationship might convert the customers into loyal customers. The Helpdesk extension is available for the Prestashop and Magento 1 platforms.
b) Loyalty Points
Offering loyalty points for each purchase of the customers helps you to retain the customers for a long time. As for each order, customers get the store credit which they can use towards their further purchases encourages the customer to return back to the store to use the store credit available in the account. The Loyalty Points module is available for the Prestashop platform.
c) Return Management
Efficient return policies are one of the most important aspects to retain the customers. The return and refund policy of the online store also encourages the customers to place their orders. In order to offer the hassle free return management online stores can use the Return Manager Extension. Knowband offers the Return Manager Extension for the Prestashop, Magento 1 and Magento 2 platforms.
d) Birthday Surprise
Everyone loves surprises because it shows how much the businesses value the customers. In order to win the trust of the customers, businesses need to go beyond the normal services and offers. You can offer an additional discount to the customers on their birthday. Knowband offers Birthday Coupon module for the Prestashop platform.
Strategy #5 Multi-channel selling
With the evolving technology and changing shopping habits of the customers, it is must for all the sellers to sell their products through multiple channels. All the top marketplaces like Amazon, eBay, Walmart, Etsy etc provides a platform to the sellers to sell their products through the marketplace.
Selling through the multiple channels is the best way to increase the brand reorganization.
In order to sell on multiple channels, the biggest challenge for the sellers is the management of the inventory and shipping. Knowband has developed the Marketplace Integration extensions for the top marketplaces like eBay, Walmart and Etsy. The marketplace integration module automates the product listing process and allows the sellers to manage the inventory and shipping for the marketplace from their existing online store.
