Archive for August, 2014
Rival Company Name as Keyword: Should You Use It?
A recent article states that purchasing keywords for search engines of well-known rivals can hurt more than it can help. Some companies have begun purchasing keywords, including a rival company name as keyword, so that when potential customers use these keywords or business names in search engines they will be redirected to the rival company instead.
In order to reach more consumers, companies will buy these names to use as keywords in order to reach anyone using the rival company’s name in searches. For example, a car company might buy keywords and search advertisements to reach consumers that are searching for other car companies.
A note of caution should be said about this practice. It actually can prove harmful to a company, if their organization is not up to snuff with their rival. Purchasing these search words can cause the consumer to compare the two companies. In the mind of the consumer, the difference between the two brands becomes larger than if they considered the two businesses separately. The popular brand’s reputation precedes them, and the consumer will be disappointed to find what they see as an inferior company.
This reaction, however, does not occur if the comparison between brands is between near equals in reputation and quality. When this is the case, the first company found raises the consumer’s estimation of that brand, in comparison to the one that was actually searched for. So, when a company is trying to make the decision of whether or not to use a rival company name as keyword, they should consider what the comparison would do to their brand. They should consider the difference in reputation between their company and their competitor. If a brand is not well-known, and they just want to hitch onto a more popular brand, they should not advertise next to them. However, if your brand is only a little less known than your rival, it could be advantageous to advertise next to it.
|No comments||This entry was posted by EIC Social Media Team on August 28, 2014 at 4:30 pm, and is filed under Online Advertising. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|
Upgrading Your Shopping Cart – Keep It Working For You
We hope you enjoyed our previous article on how to drive sales with your shopping cart. We are happy to share more suggestions for upgrading your shopping cart with you. Consider the following:
It is important for your site to include a place for other customers to rate and give reviews. If someone is not sure about a purchase they still might be convinced to buy it—if they see the ratings and testimonials of others.
Make the final checkout buttons easy to find both at the bottom and the upper corners of the screen. People may get frustrated and give up if they cannot easily find the checkout section.
Give your customers the ability to save their wish list order for later. The potential customer may not be ready to purchase anything at that moment and is just looking. If this is the case, this feature allows the shopper to easily retrieve what they saved and make the purchase.
You will also want shoppers to be able to easily change or edit their shopping cart. If they want to remove an item from their cart, but cannot do so, they are more likely to abandon the whole cart than to purchase that item.
Once they have chosen their items, it can be beneficial for sales to show related items. They may not know about the related items, or, that they need other items, until they are shown the items. It’s the online shopping cart version of asking a fast-food customer: “do you want fries with that?”
So, what happens if the customer makes it all the way through the checkout process and is starting to second guess their choices? They might be thinking that they could get the product cheaper, if they did not have to pay for shipping. This is a good time to keep them interested by offering free shipping or an additional promotional code. Even if the special offers are small, it might be just enough to tip the scales in your favor. People love feeling like they got a great deal.
Just remember that shopping carts, like any part of a business, is a continuing work in progress. Upgrading your shopping cart is important because what is working for you now might not work for you later. So, keep an eye on your abandonment and conversion rates and make changes as necessary.
|No comments||This entry was posted by EIC Social Media Team on August 21, 2014 at 4:30 pm, and is filed under Online Sales. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|
Shopping Carts Drive Sales – Make Them Work
You might know that shopping carts drive sales but you might not realize the extent that they do so. If you take into consideration a few simple and basic ideas, you have at your fingertips ways to make your website more profitable. Let’s consider a few suggestions.
Before you put the following ideas into practice, log the abandonment rate of your site’s carts, then revisit it again after you have updated your site. This is something that is unique to online shopping. When walking through a brick-and-mortar store, few people leave their carts in an aisle and walk out. This is completely different online. Here, more than 50 percent of shoppers leave items in their carts without completing a transaction.
So, how do you identify what you should change with your shopping cart? A good place to begin is to see how the most profitable online stores deal with the shopping cart or bag.
One thing you will find is that nothing drives a customer away faster than a required registration. People love the convenience of shopping online. So, instead of interrupting the buying process with an account registration, give them the choice to do it later.
Also, make sure your website has as many different types of payment and shipping options as possible. Again, your focus should be on making the experience a smooth and easy one. One way to do this is to offer a one-page checkout, if you can.
Once your consumer has filled a shopping cart, give them the option to print it or to send it. If they have the ability to keep a copy, or show it to someone, they are more likely to return and purchase the items.
Also, it is important that your customers feel the site is safe and secure. Display logos and seals that show the legitimacy of your site and make it easy for them to access your security policy.
Show your customer that you’re interested in giving him a good deal. Display sales and promotion codes right on your website, and make it easy for them to be used at checkout.
These are just a few of the ways that shopping carts drive sales and, more importantly, how to improve their functionality. We’ll consider some more ways in an upcoming article.
|No comments||This entry was posted by EIC Social Media Team on August 14, 2014 at 4:55 pm, and is filed under Online Sales. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|
Pricing Psych: Getting Inside the Consumer’s Mind
When it comes to pricing, gaining insight into the minds of your consumers can be invaluable. Finding the balance when it comes to pricing can be the difference in the success or failure of a business. If prices are too high, it can frighten customers away. A price that is too low destroys your bottom line. What we mean by pricing psych, then, is simply being able to understand how your customer’s brain functions when it comes to pricing. There are three points to consider, in order to set the bar to the right level.
First of all, do you really want your customer comparing your prices with those of your competition? It may seem like a good idea, but research is showing otherwise. Sometimes, comparing your price to a well-known national brand simply convinces the consumer to pay a little more and buy from a name they know. Trials have proven that it is usually more effective to shelf two or more similar products of different prices next to each other and then let the customer decide. Some choose price, but a large percentage pick the brand they trust. Knowing this, allows you to mark prices up a little.
How you present the price may also be a factor in how your customer thinks. One study showed that customers at restaurants spend considerably more when prices are listed as numerals without a dollar sign, for example, 21 as opposed to $21.00. It is also interesting to know that listing prices using 99 cents can increase profits, as most people neglect to consider the numerals to the right of the decimal point.
When it comes to pricing, it can also be beneficial to give your customers some context. Displaying a product between one that is cheaper and one that is more expensive can drive sales. How? One way is that this design can often cause buyers to mentally compromise and to purchase the middle-priced product. They can pride themselves for being thrifty, without feeling like they are being cheap. It also can make the more expensive product not seem so expensive, thus driving sales of the higher priced item as well.
Pricing psych is really shorthand for taking the time to understand how your customers think about pricing. Doing it right can make everyone happy: The consumer will feel that they have shopped well, and your company will reap increased revenue.
|No comments||This entry was posted by EIC Social Media Team on August 7, 2014 at 4:30 pm, and is filed under Sales. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site.|