According to a study by Monetate, the average conversion rate in 2023 ranged from 0.4% to 3.7%. In 2024, the Shopify platform found that online stores created with its help had an average conversion rate of 1.4%. At the same time, the platform itself, which has 5.6 million active stores in 175 countries, considers the optimal conversion rate to be 2.5%.
The fact is that, according to statistics, no more than Studying customer behavior 8 out of 100 online store visitors become buyers, while 7 out of 10 people who add products to their cart leave without completing their purchase (the average bounce rate is 70.19%).
The problem is that many retailers do not work with the interest of leads or do not know how to “warm up” it correctly. As a result, visitors do not reach the orders, and retail outlets lose sales and customers, giving them “warm” to competitors.
How a retailer can track customer interest Studying customer behavior
The interest of a potential client is the basis for his motivation and performance of a target action. The following tools will help a retailer determine the interest of buyers:
Conducting surveys Studying customer behavior
Telephone surveys are often annoying. The audience is more loyal to marketing quizzes on social networks. But there are more effective methods. For example, interactive Digital Signage mechanics. They help conduct surveys without the participation of staff directly in stores using bright digital screens that attract attention. Guests are willing to interact with them, and companies collect data from interactive forms and understand customer preferences more deeply.
Data Analytics
For analytics in retail, you can use systems such as Tableau, Shopify Analytics. They help study large volumes of data presented in the form of intuitive and visual reports, summary tables, graphs, presentations. The systems can download information from different sources, from Excel tables to cloud services, and filter them by different criteria. Tableau can identify trends and make forecasts.
Studying customer behavior using video analytics
Video analytics allows you to study and analyze a person’s head posture and gaze direction, identify specific products, groups, and retail areas in retail stores that are most attractive to customers. You can also find out what advertising visitors pay attention to and study for the longest time.
From Acquaintance to Purchase: How to Turn Potential Clients into Real Buyers Studying customer behavior
Modern audiences often react negatively to direct, intrusive advertising. Before starting work with potential clients, a marketer should study the portrait of future buyers in more detail, use proven classic tools and test new sales channels and formats.
1. Analysis of the target audience
The following systems will help you study potential clients:
● Yandex Metrica. The analytics system collects data on gender, age, geography and interests of users.
● Pepper.Ninja. The service helps to study the audience of social networks. It generates detailed reports on actions and segments users.
● Quantcast. The analytics system reflects user habits and behavior, and also takes into account psychology.
● Information resources of analytical and research centers: Euromonitor International, Statista, NAFI. Allows to study industry research, the market, as well as user preferences
2. Choosing the right promotion and positioning strategy
Positioning and promotion of a brand influences the final decision new zealand business email list of a potential client to buy. It can be built on the following vectors:
● Rational or emotional benefit for the buyer . The company is guided by its own advantages and distinctive features of the product.
● Competitors. The seller analyzes competitors and uses the contrast method, or positions his product as an analogue.
● Price. The most effective method in niches with high competition. Indicating the price cuts off the non-target audience.
● Consumers. A retailer can target, for example, users of a specific brand’s products, residents of specific regions, etc.
It is worth considering that there is no universal (as well as correct or incorrect) strategy. Often, companies change them, combine them or use unusual solutions.
For example, the Hermès company has been actively signs that the customer is not coming first exploiting the legend of the Birkin bag shortage for many years. Allegedly, they are released in limited quantities per year, and access to the “secret” room with stock is granted only to those visitors of the boutique who have already left thousands of dollars there. The fictitious story so heats up the audience’s interest and creates a stir around the brand’s products that buyers sign up for a waiting list several years in advance.
3. Using effective sales techniques
To convert customer interest into orders, marketers use new and classic sales techniques:
● SPIN. The essence of the technique is to sell not mobile lead directly, but through leading questions that gradually lead the client to the idea that he needs the product. It is used in cold sales of products from expensive segments (real estate, premium furniture, etc.).