3 Bright Ideas for Increasing Conversions with Customer Engagement

Transcription

1 3 Bright Ideas for Increasing Conversions with Customer Engagement

2 Table of Contents Are Old-School Engagement Techniques Putting Your Business in a Bad Light?... 3 The Electrifying Results of Effective Online Engagement Ways to Power Online Customer Acquisition... 6 About Moxie... 11

3 Are Old-School Engagement Techniques Putting Your Business in a Bad Light? Today s sales conversions are not based on products and services alone. The experiences customers have with brands factor in heavily, making engagement more critical than ever before. While companies continue to spend millions each year driving traffic to their sites, only 29% engage visitors once they arrive, giving the impression of an empty storefront. 1 It s not enough to provide support teams via the phone or online chat. Customers expect sophisticated interaction. According to Gartner, more than 82% of multichannel product buyers prefer a more comprehensive web customer service suite, as opposed to a stand-alone single-channel or point-based product. 2 Customers want businesses to anticipate their needs and offer highly relevant information right when they need it across all channels and devices. In order for ecommerce brands to meet acquisition and revenue numbers, they must put new emphasis on proactively engaging with online customers. Companies have to commit to delivering meaningful, personalized experiences from the moment a customer lands on a site all the way through the final checkout or conversion. The content of this ebook focuses on the tangible results of effective customer engagement, along with 3 key components companies need to make it happen. Customers expect companies to anticipate their needs and provide relevant information and guidance across all channels. 1 Gallup: 2 Gartner s Magic Quadrant for CRM Web Customer Service Applications, February

4 The Electrifying Results of Effective Online Engagement Recently, Moxie commissioned a study with Forrester Research to explore the impact of various online customer engagement methods. The study revealed that effective use of digital engagement solutions can help businesses achieve goals of winning, serving, and retaining customers while also improving efficiency and costs. To gather data, Forrester conducted interviews with: A large insurance company that sells a range of home, vehicle, and life insurance products A company that manages sales and marketing for a resort and vacation operator A global tech company that targets both B2C and B2B businesses A luxury fashion accessory retailer From these cases, Forrester was able to assemble a variety of economic impact findings and calculate success metric averages for companies that choose to use digital customer engagement solutions. 4

5 It was determined that use of a digital customer engagement solution delivered: Increased incremental conversions and revenue 4% increase in online conversions, as a result of effective use of live chat during the sales process $9.2 million in incremental gross profits, thanks to increased conversions 626% lifetime return on investment with payback beginning in less than 1 month Improved customer loyalty A perception among consumers that companies using digital engagement solutions are market leaders in online customer management Over time, companies realized higher customer satisfaction scores one as high as 4.1 out of 5 Enhanced efficiency Improved agent efficiency that added up to an average gain of $6.9 million 2.5x efficiency boost for agents using chat and , versus dealing with customers by phone All stats: Forrester Research, Inc. 5

6 3 Ways to Power Online Customer Acquisition Digital engagement solutions empower ecommerce brands to offer more relevant, seamless customer experiences across online channels. Rather than simply leaving customers to their own devices when they reach a company s website, that company can provide them with personalized information and one-on-one assistance, to more actively guide them down the path to conversion. The following pages cover the 3 top ways today s ecommerce businesses can more successfully engage and convert customers online. 6

7 1 Live Assistance Live assistance isn t just a customer service tool it s a sales driver. That s why organizations that effectively use chat boost online conversions by an average of 4%. Chat enables ecommerce companies to: Create online customer experiences that feel more like those of brick-and-mortar establishments helping make people feel welcome, valued, and taken seriously. Communicate both proactively and reactively, the same way a salesperson would on the floor, to help close the deal with customers. Address customer frustrations or issues immediately to eliminate transaction abandonment. Take advantage of opportunities to upsell and cross-sell customers on highervalue offers and add-ons, potentially increasing the total value of each sale. 38% 63% 44% 38% of online consumers said they had made their purchase due to a chat session. 1 1 Forrester Research, Inc. 2 Forrester Research, Inc. 3 Making Proactive Chat Work by Forrester Research, Inc.] 63% of online consumers said they were more likely to return to a website that offers live chat. 2 44% of online customers said that having questions answered by a live person while in the middle of an online purchase is one of the most important features a website can offer. 3 7

8 2 Mobile Optimization The ongoing explosion of mobile device use is changing the way consumers research and buy online. ecommerce businesses that have been slow to offer satisfying mobile experiences are at risk of losing an increasing number of sales. To meet new demands for mobile, and create experiences that are as fluid and engaging as those available on desktop sites, companies must: Consider the small mobile screen, making sure customers can easily find the information they want and need, fast. Give customers the same opportunities to interact with support staff as they would have on a desktop site, by way of mobile live chat. Reduce friction by letting customers seamlessly move between desktop and mobile channels, without losing personalization. Address the differences between smartphones and tablets, tailoring functionality and customer experiences to each. 70% of mobile searches lead to action within one hour. It takes a full month for the same percentage of desktop users to catch up. 1 72% of tablet owners make purchases from their devices on a weekly basis. 2 1 MobileMarketer.com 2 Google 8

9 2 Mobile Optimization ecommerce businesses may be missing opportunities to improve mobile performance Conversion rates by device: Desktop Add to Cart rate 8.52% Sales Conversion rate 2.78% Tablets Add to Cart rate 8.58% Sales Conversion rate 2.78% 2.42% Smart Phone Add to Cart rate 4.70% Sales Conversion rate 0.8% 9

10 3 Contextual Information Live assistance isn t necessary for every customer interaction self-serve info can be just as effective. By intelligently displaying contextual information, businesses can improve customer loyalty and conversion rates, while reducing the cost required to help guide customers through the purchase journey. Using contextual information, ecommerce businesses can: Share content exactly when and where it is most relevant to customers experiences, helping drive conversions. Offer information such as product details, videos, and how-to guides that are tailored to fit customers, based on their behavior and demographics. Satisfy customer preferences for self-service while empowering individuals to achieve their goals online. Decrease purchase abandonment rates due to informational issues like malfunctioning coupon codes by proactively serving up quick, easily discoverable solutions. 67% of consumers use web self-service knowledge to find answers to their questions. 1 1 Forrester blog: 10

11 About Moxie As a digital engagement solution provider for hundreds of global brands including American Eagle, Crocs, Sandals, Restoration Hardware, Dell, and 3M Moxie has a proven record of helping ecommerce companies acquire and retain customers. Moxie anticipates what customers want, connecting and engaging with them through the entire digital journey, across devices. Through our digital customer engagement solutions, companies have the ability to deliver the right engagement via the right channel to increase total customer value. Learn more about Moxie s solutions for proactive digital engagement: Visit Call info@gomoxie.com (North America) (International)