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On so-called "Cyber Monday," another record was broached, as U.S. online shoppers clicked-up $733 million in sales. Some of the top performers included Wal-Mart (NASDAQ: WMT), Dell (NASDAQ: DELL), Target (NYSE: TGT), and Amazon.com (NASDAQ: AMZN).
These are the big players. But I'm sure there could have been even more sales, had smaller online venues been able to keep up in terms of technology and customer service. In other words, e-commerce sites can still be complex -- enough to foil would-be buyers, and resulting in abandoned virtual shopping carts.
How can you improve your online store?
"A key is anticipating customer questions," said Suzy Meriwether, who is the Industry Solutions Manager at RightNow Technologies (NASDAQ: RNOW), which develops customer relationship management applications. "This is becoming more important as products get more complex."
One suggestions is to put together a FAQ (Frequently Asked Questions), and make sure you periodically update the questions (and consider highlighting the most common). To this end, RightNow recently launched a new web service, called a knowledge syndication widget, that automates this process. Such technologies not only improve customer conversions but also lower costs for call centers and customer support.
But, when putting together the content, it's critical that you establish realistic expectations. "A key area is about when a customer will receive the product," said Meriwether. "Also, customers want to know -- up front -- what the shipping costs will be."
Another strategy is to provide multiple ways for customers to communicate with your website. "Keep in mind that young consumers may prefer text messaging or IM," said Meriwether.
In fact, Meriwether is a big fan of live chat. "We've found that chat can be a great way to close a deal when a user is at the deciding phase," she said.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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Reader Comments (Page 1 of 1)
12-03-2007 @ 7:49AM
daisy said...
I hate shopping this time of year. I love to shop online and can wear my pj's, not use gas and a lot of times not pay taxes!
I buy most of my stuff at an online shopping
mall that gives me between 5-55% back in cash on all my purchases.
There are over 1000 stores including Sephora, Apple, The Gap, Target
(great for soo much), Macy's. I also wait for sales so I get my cash back and the lowest price
http://www.dailyoink.com The site is ugly, but well worth it.
I am sure there a lot of other people just like me and that is why cyber Monday will get bigger and bigger every year.
12-03-2007 @ 7:56AM
Bert said...
NEW & Currant FACT:
Total U.S. online consumer spending reached $170.8 billion last year, with non-travel spending accounting for $102.1 billion and travel spending accounting for $68.8 billion. Based on the first-half growth rates, total U.S. online consumer spending is on track to reach $200 billion in 2007
“In the past, we’ve seen growth rates accelerate as the year progresses, culminating with the online holiday shopping season," he said, "so $200 billion may actually turn out to be a conservative estimate.”
Euro E-Commerce Hits $133B, 25% Yearly Growth Projected.
Harnessing the Power of Online Spending to Change Lives!
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12-03-2007 @ 3:46PM
John Bishop said...
My Power Mall is a joke. Are you people friggin serious?
12-04-2007 @ 2:34AM
Mike said...
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12-04-2007 @ 2:59AM
Bert said...
I hope you are still thinking about My Power Mall. It has done so much to change my own life! Here is some more information to help you make the right decision for you...
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