Customers face many barriers when purchasing online It has b

Customers face many barriers when purchasing online. It has been estimated that as many as half of all purchases are abandoned midstream. Discuss how you can help online retailers develop ways to convert more site visitors to buyers.

Solution

One of the most important aspects of any marketing campaign is learning how to lower the cost for each sale made. Each visitor to your website essentially has a cost associated with it as does each sale made. The goal is to increase sales, without increasing the cost of the sale.

The rate at which visitors convert to buyers is your conversion rate. Since the conversion rate determines your overall cost per sale (CPS), your goal is to improve the conversion rate which then lowers the CPS. As each marketing campaign delivers visitors at a differentcost per visit (CPV), finding great marketing avenues will help you lower your overall CPV, but the conversion rate and CPS will remain relatively the same. Increasing your marketing budget only serves to increase visitors at the same CPV. Sales will increase due to the higher traffic volumes, but profit% age remains stagnant. By closely tracking and monitoring your marketing campaigns, each campaign can be adjusted to increase conversion rates without increasing traffic or the CPV. When you adjust your campaign toincrease conversions without increasing costs, your CPS lowers dramatically, putting more money in your pocket without any extra spending. Once you are able to maximize your conversion rate, and improved your CPS, you can begin to focus on additional marketing spend. At your new lower CPS, increasing traffic willserve to increase profits exponentially