3 tips for online retailers this Valentine’s Day
3 tips that will have your online customers head over heels this Valentine’s Day By Oren Levy, CEO, Zooz
Wooing Valentine’s Day shoppers
It’s been a month since the holiday season heyday, and now that that you’ve had a few weeks to recover it’s time to start thinking about the next shopping holiday. Valentine’s Day is a great opportunity to attract customers back to your e-commerce site after the post-holiday season lull. Here are some new strategies you can kick off for February 14th that will make consumers fall in love with your brand all over again.
- Engage customers via new channels
While it’s important to make sure the e-commerce checkout and experience are optimized, online retail is hardly the only way to engage your customers. Today retailers interact with customers over multiple channels, including many new e-commerce channels that are developing.
Now is the time to make sure your mobile website and native app run seamlessly and offer a frictionless experience. eMarketer reports that 40% of 2015 Thanksgiving and Black Friday sales came from mobile commerce – a year-on-year increase of almost 30%. Nowadays you can expect a large segment of Valentine’s Day gift givers to be browsing your mobile site, so make sure the design is responsive, quick and easy to navigate.
You can also take advantage of new retail touchpoints such as social networks. By employing social commerce, merchants can encourage sales, especially with impulse shoppers who want to be able to pay for their purchase right away. These consumers respond very positively to brands that allow them to purchase products directly through their favorite social media site, rather than rerouting them to a payment page on a separate website.
Another great retention strategy is to drive traffic between channels and encourage return visits with channel-specific promotions. If a customer buys something in the store two weeks before Valentine’s Day, offer an online only coupon for Valentine’s Day. This can help build traction on weaker channels.
- Give your checkout an upgrade
The most influential factor of the entire shopping experience is the checkout. If consumers face barriers at this phase of the experience, there’s a risk that they will abandon the purchase – or worse, become discouraged from buying your brand altogether.
Valentine’s Day is a perfect time to reevaluate inefficiencies in the checkout process and try to understand the reasons behind your abandonment and conversion rates. Perhaps you need to offer more diverse payment options for international customers to drive more cross-border conversions, or maybe consider implementing additional payment providers to maximize fraud detection and transaction acceptance for various regions.
Analyze checkout data to gain deeper understanding of what the customer expects from the checkout stage so you can address customer needs. By enabling your customer to submit orders and payment details efficiently, you can build brand loyalty in the long-term.
- Optimize security and prevent fraud
One of the most damaging experiences for a brand is fraud – the last thing a customer wants to be worrying about is their sensitive payment data being used for unauthorized purchases. Inform end users that whatever data they provide is encrypted and securely stored, and that your payment system complies with international and local security regulations. Reassure them that your anti-fraud measures protect them from cyber-attacks. In other words, when reaching the final transaction stage, your customers should feel so protected that their most serious dilemma will be whether to choose chocolates or roses.
We’re on the brink of what promises to be another exciting year of innovation in Fintech. Everyone involved in the industry is looking forward to seeing what new technologies emerge this year and which past innovations will become mainstream. Merchants who can keep ahead of the game and anticipate developing dynamics stand to achieve a key edge in an increasingly competitive market.