There are many excellent business lessons one can take from Michael Taylor’s “Moneyball”.
Moneyball is a terrific book (later made into a movie starring Brad Pitt), about the Oakland Athletics (The A’s) – the cash poor Major League Baseball team that, between 2000 and 2006, revolutionized the game with the way they evaluated players, finding value where other teams did not, and consistently fielding a team that could compete with large market teams, such as the New York Yankees.
For perspective, at the time the story takes place, the Yankees had a budget of well over $220 million to spend on player salaries. The A’s? Around $40 million.
Every year, many of the A’s best players would either leave through free agency, or be traded away because the team knew they could not afford to re-sign the player for the upcoming season. Each season, however, a new crop of players were brought in – seemingly from nowhere – and the team consistently competed at the highest level. Continue reading 8 Tips to Minimize the Abandoned Shopping Cart Phenomenon
The goal of any online store is to make profit. If you’ve already set up your ecommerce website or even if you’re doing the invaluable research necessary before any virtual building begins, surely a certain 90s pop-culture reference, in the form of a Jerry Maguire quote, has popped into your head: Show me the money!
And while everything that has been covered here on Ecommerce Rules––from finding the perfect store platform to drop-shipping advice––is vital to a successful online store, when it comes down to it, no money will be made if your product pages aren’t top notch and enticing to consumers.
Product pages are where customers go to not only find your product but all the answers to their questions––it’s the final stop before check out and point of entry for purchases. Product pages should reassure buyers through the wealth of knowledge and information displayed––if done correctly, they strengthen the potential for conversion (when a customer goes from browsing to buying) whereas when product pages are done poorly, they serve as a deterrent for any business transaction to occur. Continue reading 3 Tips to Optimize Product Pages
Sometimes running an online store can feel like trying to solve a murder mystery. Except it’s less a case of ‘whodunnit?’ and more a case of ‘why didn’t they buy it?’
If you’re not getting the amount of sales you expected or hoped for, there’s probably several good reasons, and if you’re going to see any success you need to know what those reasons are. After all, if people aren’t buying your products, you don’t have a viable business.
Thankfully, you don’t need to be Sherlock Holmes to solve this particular problem. Here are five elementary areas that you can investigate. Spend some time studying each of them thoroughly with fresh eyes, as if you’re viewing them through a magnifying glass. You’re bound to discover a few tell-tale clues as to why potential customers drop out before they shop.
1. Lack of Traffic
Even Inspector Clouseau, the inept detective from the Pink Panther movies could work this one out. If no one is coming to your site, then you’re not going to get any sales. What can be harder to fathom though, is why they’re not coming.
SEO is certainly important, because if you’re not showing in the first handful of results for any given search term, then you’ll never be found via Google and their competitors. A solid social media strategy is also key, not to mention a well thought through PR campaign. Attention grabbing press releases, special events and offline marketing in your local area can make all the difference when it comes to raising awareness and credibility. Continue reading 5 Reasons Why No One Is Shopping On Your Ecommerce Store
Gone are the days of dial-up, that clinking, whirling, buzzing sound that followed the dial tone to let you know your website was loading––your consumers expect your website to load quickly. A fast loading, functional ecommerce site means your customers are more likely to stay on your site and click around; they’ll only browse your products if they appear within reasonable time––and reasonable time, nowadays, means fast.
Amazon found that for every 100 milliseconds––or a mere tenth of a second––delay in loading a website, 1% of sales are loss. And did you know the faster your ecommerce website loads, the higher Google will rank your site in search results? Conduct a test to see how long it takes for your entire website to load from start to finish as it stands right now. Try using a speed test site like Pingdom Tools.
According to a Forrester study, the average consumer expects a page to load within 2 seconds or less, any more than 3 and they’ll navigate away from it––likely to a rival site in hopes of finding quicker loading. Not to mention with the present day proliferation of online ecommerces, visitors hold your company’s credibility and quality to your website’s performance.
Luckily, there are surefire ways to increase your ecommerce site speed and ensure your store and its product images are available to customers fast. Here are ways to make your ecommerce website load quicker. Continue reading How to Increase Your Ecommerce Site Speed