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<!DOCTYPE html><html lang="en"><head><title>Oberlo Ecommerce Wiki | Dropshipping Business Wikipedia</title><meta charSet="utf-8"/><meta name="viewport" content="width=device-width,initial-scale=1"/><meta name="robots" content="index, follow, max-image-preview:large"/><meta name="description" content="Consider this the encyclopedia to get your ecommerce store up and running. Learn industry terms commonly used in dropshipping, business, and digital marketing."/><meta property="og:type" content="website"/><meta property="og:site_name" content="Oberlo"/><meta property="og:title" content="Oberlo Ecommerce Wiki | Dropshipping Business Wikipedia"/><meta property="og:description" content="Consider this the encyclopedia to get your ecommerce store up and running. 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itemID="https://www.oberlo.com"/><meta itemProp="url" content="https://www.oberlo.com"/><meta itemProp="name" content="Home"/></div><div itemProp="itemListElement" itemscope="" itemType="https://schema.org/ListItem"><meta itemProp="position" content="1"/><meta itemProp="item" itemType="https://schema.org/WebPage" itemID="https://www.oberlo.com/ecommerce-wiki"/><meta itemProp="url" content="https://www.oberlo.com/ecommerce-wiki"/><meta itemProp="name" content="E-commerce wiki"/></div></div><h2 class="text-heading-lg font-sans">Browse most popular topics</h2><div class="block md:flex mt-6 lg:mt-12"><ul class="flex-1 md:mr-6 leading-relaxed"><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/b2c">B2C</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/manufacturing">Manufacturing</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/ecommerce">eCommerce</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/warehousing">Warehousing</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/distribution-channel">Distribution Channel</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/merchandising">Merchandising</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/wishlists">Wishlists</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/upselling">Upselling</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/fulfillment">Fulfillment</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/cyber-monday">Cyber Monday</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/customer-service">Customer Service</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/shopping-cart">Shopping Cart</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/supply">Supply</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/black-friday">Black Friday</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/unique-selling-proposition-usp">Unique Selling Proposition (USP)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/direct-marketing">Direct Marketing</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/cost-per-action">Cost Per Action (CPA)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/checkout-page">Checkout Page</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/merchandise">Merchandise</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/niche-market">Niche Market</a></li></ul><ul class="flex-1 md:mr-6 "><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/user-interface-ui">User Interface (UI)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/google-tag-manager">Google Tag Manager (GTM)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/call-action-cta">Call-To-Action (CTA)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/resource-management">Resource Management</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/customer-segmentation">Customer Segmentation</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/affiliate-marketing">Affiliate Marketing</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/unsubscribe">Unsubscribe</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/click-through-rate-ctr">Click-Through Rate (CTR)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/payment-gateway">Payment Gateway</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/revenue-optimization">Revenue Optimization</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/key-performance-indicator-kpi">Key Performance Indicator (KPI)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/cost-per-click">Cost-Per-Click (CPC)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/cross-selling">Cross-Selling</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/return-investment-roi">Return on Investment (ROI)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/private-label">Private Label</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/variable-cost">Variable Cost</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/churn-rate">Churn Rate</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/public-relations-pr">Public Relations (PR)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/email-marketing">Email Marketing</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/opportunity-cost">Opportunity Cost</a></li></ul><ul class="flex-1 md:mr-6 "><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/competitive-analysis">Competitive Analysis</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/b2b">B2B</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/profit-margin">Profit Margin</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/keyword-research">Keyword Research</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/user-persona">User Persona</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/free-board-fob">Free on Board (FOB)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/bounce-rate">Bounce Rate</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/sitemap">Sitemap</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/buyer-persona">Buyer Persona</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/information-architecture">Information Architecture (IA)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/landing-page">Landing Page</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/target-market">Target Market</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/search-engine-marketing-sem">Search Engine Marketing (SEM)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/conversion-rate">Conversion Rate (CRO)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/growth-hacking">Growth Hacking</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/abandoned-cart-emails">Abandoned Cart Emails</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/seo">Search Engine Optimization (SEO)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/brand-equity">Brand Equity</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/attribution-model">Attribution Model</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/ab-testing">A/B Testing</a></li></ul><ul class="flex-1 md:mr-6 "><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/outsourcing">Outsourcing</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/user-experience-ux">User Experience (UX)</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/customer-lifetime-value">Customer Lifetime Value</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/overhead-costs">Overhead Costs</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/anchor-text">Anchor Text</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/business-plan">Business Plan</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/inventory">Inventory</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/branding">Branding</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/market-research">Market Research</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/benchmarking">Benchmarking</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/supplier">Supplier</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/order-history">Order History</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/wholesale">Wholesale</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/advertising">Advertising</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/distribution">Distribution</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/domain-name">Domain Name</a></li><li class="my-2"><a class="text-size-base leading-5 font-sans underline hover:text-blue-10" href="/ecommerce-wiki/conversion-funnel">Conversion Funnel</a></li></ul></div></section></main><footer class="py-6 px-8 sm:px-16 md:px-0 bg-black text-white relative"><div class="md:container md:w-full md:mx-auto py-6"><div 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Traditionally, the term referred to the process of selling products directly to consumers, including shopping in-store or eating in a restaurant. Today it describes transactions between online retailers and their customers.\u003c/p\u003e\u003ch2\u003eWhat is the Difference Between B2C and B2B?\u003c/h2\u003e\\n\u003cp\u003e\u003ca href=\\\"/ecommerce-wiki/b2b\\\"\u003eB2B eCommerce is an online business model\u003c/a\u003e that facilitates online sales transactions between two businesses, whereas B2C eCommerce refers to the process of selling to individual customers directly.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor example, an online retailer that sells office furniture is a B2B business because its primary target market is other businesses. B2B eCommerce also facilitates transactions between wholesalers and retailers or manufacturers and wholesalers and is typically a more complex process. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAn example of a B2C transaction would be someone buying a pair of shoes online or booking a pet hotel for a dog. It is likely the model that most people are familiar with. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eSome companies operate as both B2B and B2C businesses. For instance, an events management company may offer wedding organization services, but may also provide conference management services to other businesses. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eBenefits of B2C eCommerce\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eGlobal Reach\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eThe number one benefit of B2C eCommerce is the global reach it has. Even small businesses operating out of homes can sell to customers on the other side of the world. This availability to sell to anyone anywhere makes sure success is inevitable. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eNo Physical Overheads\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eB2C has primarily been dominated by in-store purchases where consumers need to visit a physical store in order to buy something from a brand. By introducing an eCommerce element to business, management can \u003ca href=\\\"/ecommerce-wiki/overhead-costs\\\"\u003elower overhead costs\u003c/a\u003e. Shutting down brick and mortar stores which do not make a profit and spending a fraction of the cost on marketing, companies can send consumers to the online store to make purchases.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eMore Data to Profile Customers\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eWhen you move your business online you open the door to more information about your customers and more ways to target them directly. Using \u003c/span\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003e\u003cspan\u003eanalytics tools like Google Analytics\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e you can discover demographical information about your consumers as well as \u003c/span\u003e\u003ca href=\\\"/blog/psychographics\\\"\u003e\u003cspan\u003epsychographic information like consumer interests and values\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This information can help you create a persona of your consumers that will inform how you talk to them through your website and any marketing material. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eTrackable Marketing\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eTraditional marketing methods have always been hard to track but, through eCommerce, online marketing can be easy to implement and track conversions. \u003ca href=\\\"/ecommerce-wiki/attribution-model\\\"\u003eAttribution models\u003c/a\u003e seek to show the importance of different marketing channels in achieving business success online. Reports through Google Analytics can show how a customer-first came to your website, how many visits it took for them to convert, and the page that a customer converted on. With this information, you can build a stronger website that converts better than your competition. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eB2C Dropshipping\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDropshipping is a lucrative \u003c/span\u003e\u003ca href=\\\"/blog/shopify-dropshipping-guide\\\"\u003e\u003cspan\u003eB2C business model\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that has been proven successful with a lot of Oberlo Merchants. Running an online store through dropshipping means holding no inventory, and only placing product orders as they come in from your customers. There is no need to worry about packaging, shipping, and storage costs as these fall on your supplier who ships products straight to your customers.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eB2C dropshipping is a great business solution as it allows small business to make bigger profits and scale according. With potential customers located across the global B2C dropshipping enables businesses to save money on packaging and delivery while still building a strong brand that customers can rely on.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003ca href=\\\"/browse-trending-products\\\"\u003e\u003cem\u003eDiscover thousands of products you can start selling online.\u003c/em\u003e\u003c/a\u003e\u003c/h4\u003e\\n\u003ch2\u003eWhat is B2C Marketing?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eB2C marketing refers to all the marketing techniques and tactics used to promote products or services to end consumers. Unlike B2B marketing, which often relies on building long-term personal relationships and focusing on customer education, B2C marketing aims to invoke an emotional response and capitalize on the \u003c/span\u003e\u003ca href=\\\"/blog/personal-branding\\\"\u003e\u003cspan\u003evalue of the brand\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eB2C marketers know that their customers are prone to making impulse purchases and typically make buying decisions independently. They can be swayed by various factors, including a trendy brand, quality customer service, convenience (free and fast shipping), and social proof.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eHowever, not all buyers respond to the same marketing methods, hence why good B2C marketing is based on market segmentation and targeted messaging. In order to craft effective promotional campaigns, marketers need to consider the best practices for each channel and target audience and tailor their efforts to achieve the highest possible return on investment.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eThe Best B2C Marketing Strategies\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eEffective B2C campaigns begin with extensive\u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/market-research/\\\"\u003e market research\u003c/a\u003e\u003cspan\u003e. To craft effective messages and select the right campaign elements, B2C businesses need to know who their customers are, what preferences and pain points they have, what they want, and where to find them. Marketing personas that represent specific market segments are often used to assist marketers with the development of targeted promotional campaigns.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eDue to the rapid growth of eCommerce industry and the increasing influence of \u003c/span\u003e\u003ca href=\\\"/blog/social-media-tips\\\"\u003e\u003cspan\u003esocial media channels\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, B2C marketing strategies are constantly evolving. Yet, some of the most powerful strategies include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003eSocial media marketing and advertising\u003c/li\u003e\\n \u003cli\u003ePaid search advertising\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-start-a-blog/\\\"\u003eB2C content marketing\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/email-marketing/\\\"\u003eEmail marketing\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003eCreative contests\u003c/li\u003e\\n \u003cli\u003eLoyalty and reward programs\u003c/li\u003e\\n \u003cli\u003eAffiliate marketing\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eSEO optimization\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003eGiveaways and free add-ons\u003c/li\u003e\\n \u003cli\u003eInfluencer marketing\u003c/li\u003e\\n \u003cli\u003eMobile-first marketing\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/online-marketing-strategies-ecommerce\\\"\u003eOnline Marketing Strategies For Your eCommerce Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e15 Creative Marketing Tactics Online Stores Use (That You Should Too)\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/social-media-marketing-plan\\\"\u003eSocial Media Marketing for Small Business Explained\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"excerpt\",\"B2C, or business-to-consumer, is a term used to describe a commerce transaction between a business or online retailers and their consumers.\",\"excerptHtml\",\"seo\",{\"_258\":286,\"_84\":287,\"_190\":282},\"SEO\",\"What is B2C eCommerce? - What is the difference between B2C and B2B?\",\"authorV2\",{\"_258\":290,\"_291\":292},\"ArticleAuthor\",\"name\",\"Justas Markus\",\"metafields\",[-5,-5,-5,-5,-5,-5,-5],{\"_256\":296,\"_258\":259,\"_260\":297,\"_59\":298,\"_84\":299,\"_264\":300,\"_75\":301,\"_275\":304,\"_279\":305,\"_281\":306,\"_283\":306,\"_284\":307,\"_288\":309,\"_293\":310},\"eyJsYXN0X2lkIjo1NTk4ODY1OTgxNjYsImxhc3RfdmFsdWUiOjU1OTg4NjU5ODE2Nn0=\",\"gid://shopify/Article/559886598166\",\"manufacturing\",\"Manufacturing\",\"2024-05-02T13:02:05Z\",{\"_258\":267,\"_6\":302,\"_269\":303,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489852-what-is-manufacturing.png?v=1714654926\",\"What is Manufacturing?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Manufacturing?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eManufacturing refers to a large-scale production of goods that converts raw materials, parts, and components into finished merchandise using manual labor and/or machines. The finished goods can \u003cspan\u003ebe sold directly to consumers, to other manufacturers for the production of more complex products, or to wholesalers who distribute the goods to retailers. \u003c/span\u003e\u003c/p\u003e\\n\u003cblockquote\u003e\\n \u003cp\u003eIn the \u003ca href=\\\"https://www.focus-economics.com/countries/united-states\\\"\u003eUS manufacturing represents 15% of its economic output\u003c/a\u003e, including automobiles, aerospace, machinery, telecommunications.\u003c/p\u003e\\n\u003c/blockquote\u003e\u003ch2\u003e\u003cb\u003eWhat is a Manufacturing Business?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA manufacturing business is any business that uses raw materials, parts, and components to assemble finished goods. Manufacturing businesses often employ machines, robots, computers, and humans to produce the merchandise and typically use an assembly line, which enables a product to be put together step by step, moving from one workstation to the next. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eManufacturing businesses can choose to sell their products directly to consumers, to other manufacturers, to distributors or to \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/wholesale\\\"\u003e\u003cspan\u003ewholesalers\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eWhat’s the Difference Between a Manufacturer and a Wholesaler?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA manufacturer is responsible for assembling the final goods, such as laptops, fridges or watches, or producing parts and components that other manufacturers use to produce more complex products like cars or aircraft. A wholesaler, on the other hand, is a middleman between a manufacturer and a retailer (or end consumer). It buys products in bulk from the manufacturer and resells them in smaller quantities for a higher price. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTypes of Manufacturing Production\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are three main types of manufacturing production: make-to-stock (MTS), make-to-order (MTO), and make-to-assemble (MTA). \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eMake-to-Stock (MTS) \u003c/b\u003e\u003cspan\u003eis a traditional manufacturing strategy that relies on past sales data to forecast consumer demand and plan the production activity in advance. The drawback of this strategy is that it uses past data to predict future demand, which increases the likelihood of the forecasts being off, leaving the manufacturer with too much or not enough stock. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eMake-to-Order (MTO)\u003c/b\u003e\u003cspan\u003e allows customers to order products that are customized and manufactured to their specifications. The manufacturing process begins only after the order is received, so the waiting time for the customer is longer, but the risk of excessive inventory is cut out. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eMake-to-Assemble (MTA)\u003c/b\u003e\u003cspan\u003e is a strategy that relies on demand forecasts to stock the basic components of a product, but starts assembling them after the order is received. It’s a hybrid of MTS and MTO approaches. Customers can customize the products and receive them quicker because the manufacturer has the basic components ready, but if orders don’t come in, the manufacturer is stuck with a stock of unwanted parts.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAll three types of manufacturing businesses have certain risks involved. Producing too many goods leads to financial losses as money is tied up in unwanted stock; producing too little means not meeting the demand, which can cause the customer to turn to competition and induce a drop in sales for the manufacturer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo reduce the risks, any type of manufacturing business should focus on keeping production costs low, maintaining good quality control and investing in excellent sales management.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-sell-fall\\\"\u003eBest Dropshipping Products to Sell in Fall\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003e20+ Trending Products to Sell\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-to-sell-in-summer-2017\\\"\u003eBest Dropshipping Products to Sell in Summer\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Manufacturing? | What is a Manufacturing Business? | Types of Manufacturing Production | Read this article to learn more about Manufacturing.\",{\"_258\":286,\"_84\":308,\"_190\":306},\"What is Manufacturing? | What is a Manufacturing Business? | Read More\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":312,\"_258\":259,\"_260\":313,\"_59\":314,\"_84\":315,\"_264\":316,\"_75\":317,\"_275\":320,\"_279\":321,\"_281\":322,\"_283\":322,\"_284\":323,\"_288\":325,\"_293\":326},\"eyJsYXN0X2lkIjo1NTk4ODY2MzA5MzQsImxhc3RfdmFsdWUiOjU1OTg4NjYzMDkzNH0=\",\"gid://shopify/Article/559886630934\",\"ecommerce\",\"eCommerce\",\"2024-05-02T13:02:07Z\",{\"_258\":267,\"_6\":318,\"_269\":319,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898645-what-is-ecommerce.png?v=1714654927\",\"What is eCommerce?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is eCommerce?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eeCommerce refers to any form of business transaction conducted online. The most popular example of eCommerce is online shopping, which is defined as buying and selling of goods via the internet on any device. However, eCommerce can also entail other types of activities, such as online auctions, payment gateways, online ticketing, and internet banking.\u003c/span\u003e\u003c/p\u003e\\n\u003cblockquote\u003e\\n \u003cp\u003e\u003ca href=\\\"/statistics/ecommerce-share-of-retail-sales\\\"\u003eeCommerce is the fastest growing retail market projected\u003c/a\u003e to hit $4.135 trillion in sales in 2020.\u003c/p\u003e\\n\u003c/blockquote\u003e\\n\u003cp\u003e\u003ca href=\\\"/blog/mobile-commerce\\\"\u003eMobile commerce\u003c/a\u003e, or mCommerce, \u003ca href=\\\"/blog/ecommerce-trends\\\"\u003eis a rapidly growing\u003c/a\u003e new avenue of eCommerce that’s mostly driven by the expanding market and influence of smartphones and millennials’ comfort with shopping online. In 2018, the mCommerce sector enjoyed a 39.1% increase in sales compared to the previous year.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhat are the Different eCommerce Business Models?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eeCommerce is typically classified into three different models based on the type of participants involved in the transaction: B2B, B2C, and C2C. Broadly speaking these business models are:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n \u003ch3\u003e\u003ca href=\\\"/ecommerce-wiki/b2b\\\"\u003eBusiness to Business (B2B)\u003c/a\u003e\u003c/h3\u003e\\n \u003cp\u003eB2B is when businesses sell to other businesses. This is typical of stationery stores who sell office equipment in bulk to businesses. Normally B2B companies provide a discounted rate per unit if customers buy in bulk which it is great motivation for offices to avail of.\u003c/p\u003e\\n \u003c/li\u003e\\n \u003cli\u003e\\n \u003ch3\u003e\u003ca href=\\\"/ecommerce-wiki/b2c\\\"\u003eBusiness to Consumer (B2C)\u003c/a\u003e\u003c/h3\u003e\\n \u003cp\u003eB2C is the most commonly thought of business model where merchants sell to consumers who buy a small amount of produce. A familiar example of the B2C model would be supermarkets where consumers buy their shopping weekly but they wouldn’t normally bulk buy anything.\u003c/p\u003e\\n \u003c/li\u003e\\n \u003cli\u003e\\n \u003ch3\u003eConsumer to Consumer (C2C)\u003c/h3\u003e\\n \u003cp\u003eC2C is a relatively new business model where consumers who previously bought something seek to resell this item to another consumer. Through marketplaces like eBay and Craigslist, this can be easy and quite lucrative for selling items that you no longer have a use for.\u003c/p\u003e\\n \u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cb\u003eWhat are The Benefits of eCommerce?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere is a reason why eCommerce has demonstrated such explosive growth in the past couple of years. Indeed, with the internet becoming an essential requirement of everyday life, businesses are learning to take advantage of the numerous benefits of eCommerce, the most notable of which include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eGlobal market. \u003c/b\u003e\u003cspan\u003eA physical store will always be limited by a geographical area it can serve. An online store, or any other type of eCommerce business for that matter, has the whole world as its market. Going from a local customer base to a global market at no additional cost is really one of the greatest advantages of trading online. In 2018, \u003ca href=\\\"/statistics/global-ecommerce-sales\\\"\u003e11.9% of global retail sales came from online purchases\u003c/a\u003e and this is only set to increase year on year.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAround-the-clock availability. \u003c/b\u003e\u003cspan\u003eAnother great benefit of running an online business is that it is always open. For a merchant, it’s a dramatic increase in sales opportunities; for a customer, it’s a convenient and immediately available option. Unrestricted by the working hours, eCommerce businesses can serve customers 24/7/365.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eReduced costs. \u003c/b\u003e\u003cspan\u003eeCommerce businesses benefit from significantly lower running costs. As there’s no need to hire sales staff or maintain a physical storefront, the major eCommerce costs go to warehousing and product storage. And those \u003c/span\u003e\u003ca href=\\\"/blog/aliexpress-dropshipping-guide\\\"\u003e\u003cspan\u003erunning a dropshipping business\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e enjoy even lower upfront investment requirements. As merchants are able to save on operational costs, they can offer better deals and discounts to their customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003e Inventory management. \u003c/b\u003e\u003cspan\u003eeCommerce businesses can automate their inventory management by using electronic tools to accelerate ordering, delivery and payment procedures. It’s saving businesses billions in operational and inventory costs.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eTargeted marketing.\u003c/b\u003e\u003cspan\u003e With access to such a wealth of customer data and an opportunity to keep an eye on customer buying habits as well as the emerging industry trends, eCommerce businesses can stay agile and shape their marketing efforts to provide a better-tailored experience and find more new customers. Just consider for a moment that you have a chance to address thousands of your customers by their first name; that is something already.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eServing niche markets.\u003c/b\u003e\u003cspan\u003e Running a niche brick-and-mortar business can be tough. Scaling a niche product to become popular is effortful. By tapping into a global market, on the other hand, eCommerce retailers can build a highly profitable niche business without any further investment. Using online search capabilities, customers from any corner of the world can find and purchase your products.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWorking from anywhere. \u003c/b\u003e\u003cspan\u003eOften, running an eCommerce business means that you don’t need to sit in an office from 9 to 5 or suffer through a commute day-in and day-out. A laptop and a good internet connection is all it takes to manage your business from anywhere in the world.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003e\u003cb\u003eHow to Start an eCommerce Business?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere is a logical order in how you would go about building an \u003ca href=\\\"https://www.shopify.com/tour/ecommerce-website\\\"\u003eecommerce website\u003c/a\u003e. Although setting up an actual online store would probably take less than a day, researching, building, launching and growing a profitable eCommerce business is a multi-layered process involving a number of steps and decisions.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eChoosing and sourcing a product\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe first step to starting an eCommerce business is deciding what products you’re going to sell. Finding a profitable idea can be hard work, so be prepared to do some serious digging and thinking. It’s essential that you choose products with healthy margins that will allow you to turn a profit and scale the business in the future. Once you know what you want to sell, you’ll need to decide how and where you’re going to source the products. The \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/inventory\\\"\u003e\u003cspan\u003efour main methods of sourcing products and inventory\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e are making, manufacturing, wholesale and dropshipping.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eConducting research and planning ahead\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eYour product idea will dictate which aspects of the market you need to research, but some of the most important areas to look into will be your competition, pricing strategy, and your\u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/unique-selling-proposition-usp\\\"\u003e\u003cspan\u003e unique value proposition\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. At this point, it is also a good idea to \u003ca href=\\\"/blog/how-to-write-a-business-plan\\\"\u003edraft a business plan\u003c/a\u003e that will help you visualize your growth strategy and identify any potential threats or obstacles.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eGetting your brand right\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eNow that you have a promising product idea and a clear overview of the market, it’s time to start thinking about the key elements of your store, such as your brand name, domain name, brand guidelines, and your logo. Getting your brand right from the start can help accelerate the growth and conquer the hearts of potential customers. Before turning your attention to building the store, you should spend some time studying the basics of \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/seo\\\"\u003e\u003cspan\u003eSEO\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, so that your business gets off to a good start.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eDeciding how you will sell\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003eThe actual setting up of your online shop can be achieved in two ways:\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003e\u003ci\u003eYou can build an eCommerce store from scratch\u003c/i\u003e\u003c/b\u003e\u003cspan\u003e – this means either developing it yourself or hiring a freelancer/agency to do it for you. It can take longer and cost more, but building a custom online store will guarantee 100% customization and give you the power to make all the decisions.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003e\u003ci\u003eYou can use an off-the-shelf \u003ca href=\\\"/blog/best-ecommerce-platforms\\\"\u003eeCommerce platform\u003c/a\u003e\u003c/i\u003e\u003c/b\u003e\u003cspan\u003e like \u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/\\\"\u003e\u003cspan\u003eShopify\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, which makes building an online store a quick and easy process. However, it will also mean less customization, as you will need to choose from an existing pool of themes and tools provided by the platform. If you opt to run a dropshipping business, eCommerce solutions like \u003c/span\u003e\u003ca href=\\\"/\\\"\u003e\u003cspan\u003eOberlo\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e will allow you to get the store off the ground and start selling in as little as few hours.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eBefore launching.\u003c/b\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003cspan\u003eAt this stage, you’ll be itching to get the store out into the World Wide Web. However, make sure you’re well prepared to measure the success of your launch – defining your \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/key-performance-indicator-kpi\\\"\u003e\u003cspan\u003ekey performance indicators\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e upfront will help you track your progress and performance and fix any issues as they emerge. Other important things to take care of include setting up your social media profiles, getting your \u003c/span\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e\u003cspan\u003eemail marketing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e ready, installing Google Analytics, doing keyword research, defining your shipping strategy and finalizing the launch promotion plan. Yes, that’s a lot of work, but a good start is half the job done. When you complete the checklist, try running your store through the \u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/tools\\\"\u003e\u003cspan\u003eShopify store grader\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to catch errors if there are any.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAfter launching.\u003c/b\u003e\u003cb\u003e\u003cbr\u003e\u003c/b\u003e\u003cspan\u003eWelcome to the grind! This is where the real work begins. Having launched your online store, you should immediately move on to the promotion phase. \u003c/span\u003e\u003ca href=\\\"/blog/online-marketing-strategies-ecommerce\\\"\u003e\u003cspan\u003eMarketing your store\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and \u003c/span\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003e\u003cspan\u003eoptimizing conversions \u003c/span\u003e\u003c/a\u003e\u003cspan\u003ewill be your daily bread and butter from now on. You should also experiment with regularly expanding or refreshing your inventory. It is a particularly easy thing to do for dropshippers, as they can \u003c/span\u003e\u003ca href=\\\"/browse-trending-products\\\"\u003e\u003cspan\u003eimport new dropshipping products\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e in minutes, but it should remain a priority even if you’re manufacturing or making the products yourself. Staying ahead of the curve will take some testing.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003c/ul\u003e\\n\u003c/ol\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-ecommerce\\\"\u003e\u003cspan\u003eWhat Is Ecommerce? Everything You Need to Know\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-how-to-start-and-succeed\\\"\u003e\u003cspan\u003eEcommerce Roadmap: How to Start Ecommerce Business That Will Succeed\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003e\u003cspan\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/20-ecommerce-advantages-and-disadvantages\\\"\u003e\u003cspan\u003e20 Ecommerce Advantages and Disadvantages You Need to Know\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\u003cp\u003e\\n \u003cscript type=\\\"application/ld+json\\\"\u003e\\n {\\n '@context': 'https://schema.org',\\n '@type': 'FAQPage',\\n 'mainEntity': [{\\n '@type': 'Question',\\n 'name': 'What is eCommerce?',\\n 'acceptedAnswer': {\\n '@type': 'Answer',\\n 'text': '\u003cp\u003eeCommerce refers to any form of business transaction conducted online. The most popular example of eCommerce is online shopping, which is defined as buying and selling of goods via the internet on any device. However, eCommerce can also entail other types of activities, such as online auctions, payment gateways, online ticketing, and internet banking.\u003c/p\u003e \u003c\\n p \u003e Mobile commerce,\\n or mCommerce,\\n is a rapidly growing new avenue of eCommerce that’ s mostly driven by the expanding market and influence of smartphones and millennials’ comfort with shopping online.In 2018,\\n the mCommerce sector enjoyed a 39.1 % increase in sales compared to the previous year. \u003c /p\u003e'\\n }\\n }, {\\n '@type': 'Question',\\n 'name': 'What are the Different eCommerce Business Models?',\\n 'acceptedAnswer': {\\n '@type': 'Answer',\\n 'text': 'eCommerce is typically classified into three different models based on the type of participants involved in the transaction: B2B, B2C, and C2C. Broadly speaking these business models are:'\\n }\\n }, {\\n '@type': 'Question',\\n 'name': 'What are The Benefits of eCommerce?',\\n 'acceptedAnswer': {\\n '@type': 'Answer',\\n 'text': '\u003ch2\u003e\u003cb\u003eWhat are The Benefits of eCommerce?\u003c/b\u003e\u003c/h2\u003e\u003cp\u003e\u003cspan\u003eThere is a reason why eCommerce has demonstrated such explosive growth in the past couple of years. Indeed, with the internet becoming an essential requirement of everyday life, businesses are learning to take advantage of the numerous benefits of eCommerce, the most notable of which include:\u003c/span\u003e\u003c/p\u003e\u003cul\u003e\u003cli\u003e\u003cb\u003eGlobal market. \u003c/b\u003e\u003cspan\u003eA physical store will always be limited by a geographical area it can serve. An online store, or any other type of eCommerce business for that matter, has the whole world as its market. Going from a local customer base to a global market at no additional cost is really one of the greatest advantages of trading online. In 2018, \u003ca href=\\\\'/statistics/global-ecommerce-sales\\\\'\u003e11.9% of global retail sales came from online purchases\u003c/a\u003e and this is only set to increase year on year.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cb\u003eAround-the-clock availability. \u003c/b\u003e\u003cspan\u003eAnother great benefit of running an online business is that it is always open. For a merchant, it\u0026rsquo;s a dramatic increase in sales opportunities; for a customer, it\u0026rsquo;s a convenient and immediately available option. Unrestricted by the working hours, eCommerce businesses can serve customers 24/7/365.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cb\u003eReduced costs. \u003c/b\u003e\u003cspan\u003eeCommerce businesses benefit from significantly lower running costs. As there\u0026rsquo;s no need to hire sales staff or maintain a physical storefront, the major eCommerce costs go to warehousing and product storage. And those \u003c/span\u003e\u003ca href=\\\\'/blog/aliexpress-dropshipping-guide\\\\'\u003e\u003cspan\u003erunning a dropshipping business\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e enjoy even lower upfront investment requirements. As merchants are able to save on operational costs, they can offer better deals and discounts to their customers.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cb\u003e Inventory management. \u003c/b\u003e\u003cspan\u003eeCommerce businesses can automate their inventory management by using electronic tools to accelerate ordering, delivery and payment procedures. It\u0026rsquo;s saving businesses billions in operational and inventory costs.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cb\u003eTargeted marketing.\u003c/b\u003e\u003cspan\u003e With access to such a wealth of customer data and an opportunity to keep an eye on customer buying habits as well as the emerging industry trends, eCommerce businesses can stay agile and shape their marketing efforts to provide a better-tailored experience and find more new customers. Just consider for a moment that you have a chance to address thousands of your customers by their first name; that is something already.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cb\u003eServing niche markets.\u003c/b\u003e\u003cspan\u003e Running a niche brick-and-mortar business can be tough. Scaling a niche product to become popular is effortful. By tapping into a global market, on the other hand, eCommerce retailers can build a highly profitable niche business without any further investment. Using online search capabilities, customers from any corner of the world can find and purchase your products.\u003c/span\u003e\u003c/li\u003e\u003cli\u003e\u003cb\u003eWorking from anywhere. \u003c/b\u003e\u003cspan\u003eOften, running an eCommerce business means that you don\u0026rsquo;t need to sit in an office from 9 to 5 or suffer through a commute day-in and day-out. A laptop and a good internet connection is all it takes to manage your business from anywhere in the world.\u003c/span\u003e\u003c/li\u003e\u003c/ul\u003e'\\n }\\n }]\\n }\\n \u003c/script\u003e\\n\u003c/p\u003e\",\"eCommerce refers to any form of business transaction conducted online, the most popular being online shopping. Discover more about ecommerce today with our article\",{\"_258\":286,\"_84\":324,\"_190\":322},\"What Is Ecommerce? Ecommerce Definition and Meaning\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":328,\"_258\":259,\"_260\":329,\"_59\":330,\"_84\":331,\"_264\":332,\"_75\":333,\"_275\":336,\"_279\":337,\"_281\":338,\"_283\":338,\"_284\":339,\"_288\":341,\"_293\":343},\"eyJsYXN0X2lkIjo1NTk4ODY2NjM3MDIsImxhc3RfdmFsdWUiOjU1OTg4NjY2MzcwMn0=\",\"gid://shopify/Article/559886663702\",\"warehousing\",\"Warehousing\",\"2024-05-02T13:02:09Z\",{\"_258\":267,\"_6\":334,\"_269\":335,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898633-what-is-warehousing.png?v=1714654930\",\"What is Warehousing?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is Warehousing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWarehousing is when you purchase goods from a manufacturer and store them before they are shipped to \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/fulfillment\\\"\u003e\u003cspan\u003eanother location for fulfillment\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. You may store these goods in a warehouse, spare room, or other facilities. This all depends on how much stock you have, and how big your business is. If you’ve a small business your warehousing option doesn’t need to include transport access.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhat Are The Functions of Warehousing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe main function of a warehouse is to store products or goods before moving them to another location. But there can be some secondary functions of warehousing that enhance a warehouse’s space.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eShipment Hub\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eWhen warehouses are placed in a very strategic location, these can become shipping hubs that receive shipments until they can be moved to other storage facilities across the country.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eAssembly Line\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eWhere products are \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/manufacturing\\\"\u003e\u003cspan\u003edelivered by the manufacturer in several pieces\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, companies can allot areas within their warehouse to assemble products for retailers or customers.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eRental Storage Space\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eWhether sales are down, or you possess a warehouse that is too big for your stock at the moment, renting space in your warehouse to other businesses is a good option for you if you have space. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat Are The Types of Warehousing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWarehousing \u003c/span\u003e\u003ca href=\\\"https://www.yourarticlelibrary.com/retailing/warehouses-types-5-types-of-warehouses-explained/48302\\\"\u003e\u003cspan\u003ecomes in many shapes and sizes\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e including the following:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003ePrivate Warehouses: Owned by private entities to store their own products or equipment.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePublic Warehouses: Owned by a government and semi-state body. They are available for rent by private firms to store goods.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCo-Operative Warehouses: Owned by a co-operative where private firms can rent space for storage.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDistribution Centres: Distribution centers receive shipments of goods and move them fast from A to B. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat Are The Advantages of Warehousing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eApart from the storage of products, warehousing has many advantages that are not initially apparent. These include:\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eImproved Inventory Accuracy\u003c/b\u003e\u003cspan\u003e: Knowing how much inventory you have and how much you have moved means you can plan for the future more precisely.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eReduced \u003c/b\u003e\u003ca href=\\\"/ecommerce-wiki/overhead-costs\\\"\u003e\u003cb\u003eOverhead Cost\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e: As you improve the running of a warehouse you can invest more in further development and reduction of costs. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eBetter Staffing Levels\u003c/b\u003e\u003cspan\u003e: Understanding how busy your business will be over a period of time will allow you to plan your staffing needs accordingly.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eProtection of Goods\u003c/b\u003e\u003cspan\u003e: Having a storage facility that fits the needs of your goods it so important to a business. If you have perishable goods that require refrigeration you need to ensure that your warehouse lives up to this standard. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eCentral Location\u003c/b\u003e\u003cspan\u003e: When you source a warehouse close to a customer or manufacturing hub, you can ensure better transit of goods, decreasing the time it takes to move products between places. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eSuperior Flow of Goods\u003c/b\u003e\u003cspan\u003e: The better flow of goods from manufacturer to end consumer is brought about by understanding the best layout of your warehouse and how to store goods optimally to move them fast.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat Are The Elements of Warehousing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWarehousing can be much more than the storage of goods. It can be a fulfillment center, an assembly line, and so much more. With this in mind, there are a few elements of warehousing that can help with storage, transport, and protection of goods. These include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://www.shopify.com/encyclopedia/warehousing\\\"\u003e\u003cspan\u003eStorage Systems\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to ensure maximum storage of goods and easy access at all times.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eClimate Control for goods that require cooler or warmer environments.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/ecommerce-wiki/inventory\\\"\u003e\u003cspan\u003eInventory Management\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e Software to keep track of inventory coming in and out of your warehouses.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eSufficient Staff to keep processes moving according to plans.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eTransportation and Moving Equipment to deliver and transport goods to and from the warehouse.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAmple Security to keep the warehouse safe even at downtimes. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat is Warehouse Logistics?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWarehouse logistics is the management, planning, and organization of operations within a warehouse. This includes managing space, planning shipments, and organizing information so that the warehouse operates to the best of its abilities. It is important to strive for better warehouse logistics so that you can \u003c/span\u003e\u003ca href=\\\"/blog/shipping-tips-dropshipping\\\"\u003e\u003cspan\u003eoffer customers better delivery times\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, and drive down costs where possible. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWarehouse vs. Distribution Center\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eEven though the words ‘warehousing’ and ‘distribution centers’ can be used interchangeably, they are not the same thing. Not all warehouses are distribution centers, but all distribution centers are warehouses. Warehouses act as storage hubs for products, while distribution centers store and fulfill orders in the same space. It is important to know this difference when thinking about upgrading your warehousing options. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-dropshipping\\\"\u003e\u003cspan\u003eWhat Is Dropshipping and It’s Benefits\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/wholesale\\\"\u003e\u003cspan\u003eWhat is Wholesale?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/getting-traffic-but-no-sales\\\"\u003e\u003cspan\u003eGetting Traffic But No Sales? Here’s What You Need to Do\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-epacket-delivery\\\"\u003e\u003cspan\u003eWhat Is ePacket Delivery?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Warehousing is when you purchase goods from a manufacturer and store them before they are shipped to another location for fulfillment. Find out everything about the topic here\",{\"_258\":286,\"_84\":340,\"_190\":338},\"What Is Warehousing? What Are the Elements and Advantages of Warehousing?\",{\"_258\":290,\"_291\":342},\"Karyn Corrigan\",[-5,-5,-5,-5,-5,-5,-5],{\"_256\":345,\"_258\":259,\"_260\":346,\"_59\":347,\"_84\":348,\"_264\":349,\"_75\":350,\"_275\":353,\"_279\":354,\"_281\":355,\"_283\":355,\"_284\":356,\"_288\":358,\"_293\":359},\"eyJsYXN0X2lkIjo1NTk4ODY2OTY0NzAsImxhc3RfdmFsdWUiOjU1OTg4NjY5NjQ3MH0=\",\"gid://shopify/Article/559886696470\",\"distribution-channel\",\"Distribution Channel\",\"2024-05-02T13:02:11Z\",{\"_258\":267,\"_6\":351,\"_269\":352,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898645-what-is-a-distribution-channel.png?v=1714654931\",\"What is a Distribution Channel?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is a Distribution Channel?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe distribution channel is the path that a product or service takes in order to be sent from the manufacturer to the customer. If the customer bought the product or service straight from the manufacturer the distribution channel is a short one. If it includes a \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/supplier\\\"\u003e\u003cspan\u003esupplier\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/distribution\\\"\u003e\u003cspan\u003edistributor\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, and retailer the distribution channel can be much longer. In general the longer the distribution channel from manufacturer to customer, the less profit the manufacturer will make as each intermediary or vendor charges for their services. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eFunctions of Distribution Channels\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDistribution channels are important to businesses as they allow for the smooth delivery of goods or services to a customer. If a business does not source the best collection of businesses for this purpose, it can lead to unhappy customers and an inadequate provision of services. Creating an efficient process from warehouse to customer can make a huge difference in how customers view your business.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor example, if a business sources goods from a subpar manufacturer customer will receive \u003c/span\u003e\u003ca href=\\\"/blog/how-i-made-4500-in-9-weeks-selling-phone-cases\\\"\u003e\u003cspan\u003eunsatisfactory products\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Or if a wholesaler is unreliable when delivering goods, customers will not receive their products on time.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eShorter distribution channels have fewer businesses involved in the process of delivery of goods meaning that there is more risk involved for the companies if products are not sold or delivered as promised. Therefore some businesses choose a longer distribution channel where less profit is made so that the risk and responsibility are lesser on each individual business. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eDistribution Channel Strategy\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA distribution channel strategy is normally designed by a retailer, or the business selling goods to a customer. This is so that they can source the product they aim to sell, they can reduce costs while making a nice profit themselves, and find the best way to deliver the product to the customer in the shortest time frame possible. This process will take some time to research suppliers, etc, and collect all the right information. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhen a retailer is selling more than one type of product they may even require more than one distribution channel strategy where each business is different for them all. For instance, a shoe retailer may choose to start selling t-shirts online. As shoe manufacturers are different to t-shirt manufacturers the retailer has to find a t-shirt manufacturer or \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/wholesale\\\"\u003e\u003cspan\u003ewholesaler\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to buy from. The wholesaler might not provide delivery but they are based in a different location to the shoe manufacturer so the retailer must then find a delivery option that makes sense to them. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eHaving many distribution channel strategies can become confusing and inefficient. That is why it is important to constantly improve relationships with businesses involved in this process and also to identify ways to improve efficiencies in the process. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow Many Types of Distribution Channels Are There?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are three main types of distribution models or channels that a business can fall into. It depends on the number of vendors used to distribute goods which model a business falls into.\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003eThe first type of distribution channel is where the manufacturer sells straight to the customer. This channel is the shortest, most direct one. The manufacturer makes the most profit from the sale in this scenario as he does not have to share profits with other vendors.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe next channel is an indirect one, where an additional vendor is added between the manufacturer and the customer, like perhaps a retailer. Now the retailer will buy stock off a manufacturer and that retailer will sell the stock to the customer. A good example of this would be a supermarket which stocks many different types of goods which they have bought from the manufacturer, ready for the customer to buy and bring home.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe final channel or type of product distribution model is one where there is more than one vendor or intermediary. This could include a wholesaler, a producer, or even another retailer. A great example would be dropshipping, where manufacturers sell their products to a supplier who advertises their stock on marketplaces like AliExpress where a merchant opts to put the product on their website to sell to the customer. This distribution model can be a long one. The manufacturer makes less profit as more vendors get involved.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003ca href=\\\"https://bluestout.com/blog/mattress-ecommerce-startups-disrupting-industry/\\\"\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603956803-productdistribution.png\\\" alt=\\\"Types of Distribution Channels\\\" width=\\\"667\\\" height=\\\"405\\\"\u003eSource\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere are pros and cons to all three distribution models from the perspective of the different parties involved but the most important thing is to ensure that operations run smoothly and the customer is at the center of the whole scenario.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003e\u003cspan\u003eThe Complete Guide To Marketing Channels\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/video-marketing-statistics\\\"\u003e\u003cspan\u003e10 Video Marketing Statistics [Infographic]\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003e\u003cspan\u003eWhat is Revenue Optimization\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-suppliers\\\"\u003e\u003cspan\u003eHow To Select Dropshipping Suppliers\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Channels of Distribution | What is a Distribution Channel? | Product Distributing | Types of Distribution Channels | Functions of Distribution Channels\",{\"_258\":286,\"_84\":357,\"_190\":355},\"What is a Distribution Channel? Discover the Purpose of a Business Plan\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":361,\"_258\":259,\"_260\":362,\"_59\":363,\"_84\":364,\"_264\":365,\"_75\":366,\"_275\":369,\"_279\":370,\"_281\":371,\"_283\":371,\"_284\":372,\"_288\":374,\"_293\":375},\"eyJsYXN0X2lkIjo1NTk4ODY3MjkyMzgsImxhc3RfdmFsdWUiOjU1OTg4NjcyOTIzOH0=\",\"gid://shopify/Article/559886729238\",\"merchandising\",\"Merchandising\",\"2024-05-02T13:02:12Z\",{\"_258\":267,\"_6\":367,\"_269\":368,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-is-merchandising.png?v=1714654933\",\"What is Merchandising?\",[277,278],\"\u003ch2\u003eWhat is Merchandising?\u003c/h2\u003e\\n\u003cp\u003eMerchandising is the promotion of the sale of goods that can employ pricing, special offers, display and other techniques designed to influence consumers’ buying decisions. The concept of merchandising is based on presenting products at the right time, at the right place, in the right quantity and at the right price to maximize sales.\u003c/p\u003e\u003ch2\u003eMerchandising Strategies\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWhen it comes to merchandising strategies, a “one size fits all” approach won’t suffice. Depending on the overarching objective for the retailer, brand, and category, the merchandising strategies should vary by category or even by segment to target a specific goal, such as developing customer loyalty, increasing sales, driving footfall/traffic, raising awareness of your brand, and so on.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eIn a retail setting, some of the most popular methods to compel shoppers to buy include:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eInteractive displays that use scent, sound, and motion technology \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIn-store and window displays in unique shapes\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eShelf signage \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCreating themes to bundle products together (e.g. school lunch, barbecue season, Christmas, etc.)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eFree tasting sessions and in-store demonstrations\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eGiveaways and samples \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eWell planned, eye-level product placement \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eWell-stocked shelves and displays\u003c/span\u003e \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eIn an eCommerce setting, the most effective ways to entice people to make a purchase include:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603971131-customer-service.jpg\\\" alt=\\\"Customer service\\\" width=\\\"850\\\" height=\\\"500\\\"\u003e\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eLive chat support to aid customer purchase decisions \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePlacing the search bar in a prominent position on the site \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOffering free shipping \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eStatus bar to show progress during checkout \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eSeason-specific and holiday-based collections, \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003e\u003cspan\u003ecurated landing pages\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and special offers \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eProduct descriptions that use images, copy, attributes, videos and other digital data\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eProduct recommendations \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAdvertising banners \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eRatings and reviews \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/ecommerce-wiki/cross-selling\\\"\u003e\u003cspan\u003eCross-selling\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, \u003ca href=\\\"/ecommerce-wiki/upselling\\\"\u003eupselling\u003c/a\u003e and bundling\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eEffective product categorization \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eRibbon overlays that visually accentuate something special about a product (bestseller, free shipping, sale, newly added, etc.)\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2 class=\\\"p1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003eThe Importance of Merchandising\u003c/span\u003e\u003c/h2\u003e\\n\u003cul class=\\\"ul1\\\"\u003e\\n \u003cli class=\\\"li1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003e\u003cstrong\u003eVariety\u003c/strong\u003e: Merchandising can show customers the variety you have within your store so they have a good selection of products to choose from. \u003c/span\u003e\u003c/li\u003e\\n \u003cli class=\\\"li1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003e\u003cstrong\u003eProduct placement\u003c/strong\u003e: With a great merchandising strategy you can place addition products within your customer’s reach, both on and off line, for them to buy. \u003c/span\u003e\u003c/li\u003e\\n \u003cli class=\\\"li1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003e\u003cstrong\u003ePromoting\u003c/strong\u003e: Placing your onsale products in a specific area on your website, or in store, means that people will be more willing to browse products around it. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003eBenefits of Merchandising\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSince merchandising is all about selling, the ultimate benefit of effective merchandising is higher sales and better profit. Stores that manage to create a \u003c/span\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003e\u003cspan\u003eseamless shopping experience\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and effectively guide consumers to purchase completion, enjoy an array of benefits including:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eHigher profits \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMore satisfied shoppers \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMore engaged buyers (longer on-site time) \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eFaster inventory turnover \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIncreased brand loyalty \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIncreased brand recognition\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603969780-03-impulse-buyers-are-valuable-to-ecommerce-businesses-880-x-450.jpg\\\" alt=\\\"impulse buyers\\\" width=\\\"880\\\" height=\\\"450\\\"\u003e\u003c/p\u003e\\n\u003ch2\u003eDifferences Between Sales and Merchandising?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough sales and merchandising are two closely related functions, they are not the same thing. Merchandising is the process of leading a customer to a sale, while the term “sales” refers to a consumer actually selecting a product and completing a purchase transaction. For example, a prominently displayed banner leading to a special gift guide can inspire and entice a consumer to add a product to their shopping basket (that’s merchandising) and when the customer completes checkout, it’s classified as sales.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-sell-fall\\\"\u003eBest Dropshipping Products to Sell in Fall\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003e20+ Trending Products to Sell\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-to-sell-in-summer-2017\\\"\u003eBest Dropshipping Products to Sell in Summer\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is merchandising? | Benefits of merchandising | Merchandising strategies | Learn what is the difference between sales and merchandising.\",{\"_258\":286,\"_84\":373,\"_190\":371},\"What is Merchandising? - Learn More About Merchandising Strategies\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":377,\"_258\":259,\"_260\":378,\"_59\":379,\"_84\":380,\"_264\":381,\"_75\":382,\"_275\":385,\"_279\":386,\"_281\":387,\"_283\":387,\"_284\":388,\"_288\":390,\"_293\":391},\"eyJsYXN0X2lkIjo1NTk4ODY3NjIwMDYsImxhc3RfdmFsdWUiOjU1OTg4Njc2MjAwNn0=\",\"gid://shopify/Article/559886762006\",\"wishlists\",\"Wishlists\",\"2024-05-02T13:02:14Z\",{\"_258\":267,\"_6\":383,\"_269\":384,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489840-what-is-a-wishlist.png?v=1714654934\",\"What Is a Wishlist?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat Is a Wishlist?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA wishlist allows shoppers to create personalized collections of products they want to buy and save them in their user account for future reference. Wishlists signify a customer’s interest in a product without an immediate intent to purchase.\u003c/p\u003e\u003ch2\u003eWishlist Best Practices\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003eCreate a positive experience around creating a Wishlist, like in Pinterest\u003c/li\u003e\\n \u003cli\u003eAllow customers to name their Wishlist and create numerous lists\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://medium.com/@ShruShri/wishlist-an-underutilized-customer-engagement-tool-5add88104817\\\"\u003eInclude share buttons\u003c/a\u003e so customers can send Wishlists to friends and family\u003c/li\u003e\\n \u003cli\u003ePlan email and PPC strategies around Wishlists so customers can avail of offers\u003c/li\u003e\\n \u003cli\u003eMake a Wishlist easy to find on your website\u003c/li\u003e\\n \u003cli\u003eEnsure your Wishlists are mobile-friendly\u003c/li\u003e\\n \u003cli\u003eUtilize popups to increase the use of Wishlists when:\\n \u003cul\u003e\\n \u003cli\u003ea product is out-of-stock\u003c/li\u003e\\n \u003cli\u003ea customer has spent some time on a product page\u003c/li\u003e\\n \u003cli\u003ea customer navigates away from product pages on your website\u003c/li\u003e\\n \u003c/ul\u003e\\n \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\\n\u003cb\u003eWhy are Wishlists Important to \u003c/b\u003e\u003ca href=\\\"/ecommerce-wiki/ecommerce\\\"\u003e\u003cb\u003eeCommerce\u003c/b\u003e\u003c/a\u003e\u003cb\u003e Stores?\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBesides the obvious benefit of improving the customer’s shopping experience, wishlists have the power to provide a much deeper, strategic value to online retailers. For customers, a wishlist creates an \u003ca href=\\\"https://www.bigcommerce.com/ecommerce-answers/what-are-wish-lists-and-why-are-they-important/\\\"\u003eopportunity to save items\u003c/a\u003e “for later” if they can’t commit to a purchase at that moment and find them quickly whenever they return to your store. It also serves as a convenient way to remind oneself of the products that made it to the list, which is especially relevant when compiling gift lists or pulling shopping lists for major future events, such as weddings, new babies, housewarmings, etc. Mobile shoppers find this feature particularly appealing because it saves a lot of “browsing” time on a smaller screen. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe feature creates immense value for online retailers, too. Those committed to going beyond the basic goal of creating a seamless shopping experience can exploit wishlists’ potential in several ways:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eWishlists create a snapshot of your customers’ way of thinking.\u003c/b\u003e\u003cspan\u003e You’d think one customer’s personal wishlist is too specific to provide you with much insight. On the face of it, it is, indeed, compiled to meet the specific needs of one person. However, when you put all the data from hundreds or thousands of wishlists for intelligent analysis, a range of different valuable insights emerge:\u003c/span\u003e\\n \u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003eYou can easily identify trends and optimize your \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/merchandising\\\"\u003e\u003cspan\u003emerchandising\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e tactics to capitalize on them.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eYou can quickly and easily measure the effectiveness of your follow-up \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/email-marketing\\\"\u003e\u003cspan\u003eemail marketing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e campaigns and pinpoint which tactics are producing the best results: do people respond to flash sales, coupons, or free shipping offers? \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eYou can easily measure the effectiveness of your overall marketing efforts by tracking which items end up in your customers’ wishlists. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eYou can analyze the data to see what items people save for later and what items they actually buy, which will help you identify the underlying issues hampering your sales: do customers need more information? Is the price point right? Are they waiting for special offers? Etc. \u003c/span\u003e\u003c/li\u003e\\n \u003c/ul\u003e\\n \u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWishlists provide a glimpse into your customer's world.\u003c/b\u003e\u003cspan\u003e A successful eCommerce business has a robust understanding of its target audience and often uses \u003ca href=\\\"/ebooks/dropshipping/marketing-strategies\\\"\u003ebuyer personas\u003c/a\u003e to fine-tune its marketing and merchandising campaigns. A clear indicator of what customers want ‘in the moment’, wishlists can also provide a unique insight into the customer’s world, dreams, and aspirations. This data can help businesses to inform their \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/branding\\\"\u003e\u003cspan\u003ebranding\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and marketing strategies, establish a deeper, emotional bond with their customers, and ultimately, drive more sales.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWishlists can drive a lot of traffic. \u003c/b\u003eMaking your wishlists shareable is a surefire way to attract a lot of new visitors. It’s a wonderful way to raise awareness for your brand and promote your products, and the best thing about it is that it’s free. The general rule of thumb is that more visitors should eventually translate into more customers, so implementing this feature within your store is a reliable \u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003erevenue optimization\u003c/a\u003e tactic, too.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWishlists can help you deal with out of stock items.\u003c/b\u003e\u003cspan\u003e Losing customers due to out of stock products is the bane of eCommerce. The wishlist feature can be a great tool to minimize losses. Simply offer customers to save the out of stock product to their wishlist and alert them via email or in-app notification once it is back in supply.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cb\u003eWishlists are a great way to alert customers about a sale.\u003c/b\u003e\u003cspan\u003e Smart shoppers often use wishlists to save items for future flash sale occasions. Informing your customers that items in their wishlist have gone on sale is an excellent tactic to pull them back in and convince them to complete the purchase. You can also use the data gathered from analyzing all wishlists to decide which items you should discount – items often saved in wishlists have a better chance of generating more sales.\u003c/span\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003eWishlists Drive Customer Engagement\u003c/h2\u003e\\n\u003cp\u003eWishlists are important to many people for many different reasons. As mentioned above wishlists are great for companies as it can give them valuable insight into consumer buying behaviors but wishlists are obviously valuable to customers too.\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eWishlists are reminders\u003c/strong\u003e. Creating a wishlist doesn’t mean that you need to buy things right now. A wishlist could be for the house that you are in the process of buying, or the dog you will adopt in a few months. They act as reminders to purchase things you will need in the future and are very important when customers are looking for organization in their lives.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eWishlists can educate customers\u003c/strong\u003e. Most ecommerce online stores require you to create an account to save a wishlist. By creating this account, customers can receive more information about the products on their wishlist. This education will help customers justify buying products and help them engage more with the store to build trust.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eWishlists are for sharing\u003c/strong\u003e. For Christmas, birthdays, weddings, and other special occasions wishlists can be the easiest way to let people know what you want from them. Your list can be shared with loved ones and close friends, and as people buy items they can cross them off the list to avoid duplication.\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003eAll these great reasons for customers to make wishlists with your online ecommerce store act as reasons for their friends to use your store too. Word of mouth through these great added features can win you more customers in the long run.\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-sell-fall\\\"\u003eBest Dropshipping Products to Sell in Fall\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003e20+ Trending Products to Sell\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-to-sell-in-summer-2018\\\"\u003eBest Dropshipping Products to Sell in Summer\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"A wishlist is an eCommerce feature that allows shoppers to create personalized collections of products they want to buy and save them in their user account.\",{\"_258\":286,\"_84\":389,\"_190\":387},\"What is Wishlist? - Why Wishlist is Important Feature in Ecommerce\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":393,\"_258\":259,\"_260\":394,\"_59\":395,\"_84\":396,\"_264\":397,\"_75\":398,\"_275\":401,\"_279\":402,\"_281\":403,\"_283\":403,\"_284\":404,\"_288\":406,\"_293\":407},\"eyJsYXN0X2lkIjo1NTk4ODY3OTQ3NzQsImxhc3RfdmFsdWUiOjU1OTg4Njc5NDc3NH0=\",\"gid://shopify/Article/559886794774\",\"upselling\",\"Upselling\",\"2024-05-02T13:02:15Z\",{\"_258\":267,\"_6\":399,\"_269\":400,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489852-what-is-upselling.png?v=1714654936\",\"What is Upselling?\",[277,278],\"\u003ch2\u003eWhat Is Upselling?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eUpselling is a sales technique aimed at persuading customers to purchase a more expensive, upgraded, or premium version of the chosen item or other add-ons for the purpose of making a larger sale. eCommerce businesses often combine upselling and cross-selling techniques in an attempt to increase order value and maximize profit.\u003c/span\u003e\u003c/p\u003e\\n\u003cblockquote\u003e\\n \u003cp\u003eThe \u003ca href=\\\"https://www.smallbizgenius.net/by-the-numbers/customer-loyalty-statistics/\\\"\u003eprobability of selling to existing customers is 60-70%\u003c/a\u003e, while the probability of selling to a new prospect is 5-20%.\u003c/p\u003e\\n\u003c/blockquote\u003e\u003ch2\u003eWhy Is Upselling Important?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough sales techniques tend to invoke negative feelings in us, when done right, they can actually improve our shopping experience. Online retailers rely heavily on upselling and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/cross-selling\\\"\u003e\u003cspan\u003ecross-selling\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e techniques for several reasons: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eUpselling helps retailers build deeper relationships with customers\u003c/b\u003e\u003cspan\u003e. \u003cbr\u003eUpselling is not a dirty tactic if you put it into perspective. If it focuses on helping your customers ‘win’ by suggesting premiums, upgrades, or add-ons that will eventually deliver more value and make them feel like they got the better deal, it will turn out to be a customer happiness tactic that also generates additional revenues.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt’s easier to upsell to existing customers than to acquire new ones.\u003c/b\u003e\u003cspan\u003e \u003cbr\u003eLead generation is an expensive practice. It is much easier and cheaper to optimize the sale to a customer who already trusts you and has bought something from you in the past or is about to make a purchase now than to sell to a new prospect who has never heard of your brand. As we mentioned before you have a 60-70% chance of selling to an existing customer and only a 5-20% chance of selling to a stranger. \u003c/span\u003e\u003cspan\u003eIt’s an easy win for a lot of eCommerce businesses on a mission to accelerate their growth and improve the bottom line.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eUpselling leads to increased Customer Lifetime Value (CLV).\u003c/b\u003e\u003cspan\u003e \u003cbr\u003eCustomer Lifetime Value is the net profit contribution a customer makes to your company over time. You can split your customers into three main categories: not profitable, profitable, and very profitable. Higher CLV means each customer generates more revenue for your business without you having to invest anything extra, which also means your company has more money to spend on acquiring new customers. Upselling is one of the most effective ways to turn shoppers into very profitable customers and keep them coming back.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCustomers come back for more. \u003cbr\u003e\u003c/b\u003eUpselling is unique in the way it adds value to customers that makes them want to come back for more. By creating an easy way to make life straightforward for customers you are ensuring that they will return in the future if they need more of what you are selling. Be sure to \u003ca href=\\\"/blog/customer-service\\\"\u003eoffer great customer service\u003c/a\u003e along with your upselling efforts to guarantee happy customers no matter what happens.\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003eThe Difference Between Upselling and Cross-Selling\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eIn \u003c/span\u003e\u003ca href=\\\"/blog/what-is-ecommerce\\\"\u003e\u003cspan\u003eeCommerce\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, both techniques are employed to \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003e\u003cspan\u003eoptimize revenue\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e by increasing the amount a customer spends with your business. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eUpselling aims to convince the customer to buy a more expensive version of the product, while cross-selling focuses on making personalized recommendations of related complementary products. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eExample:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eUpselling: \u003c/b\u003e\u003cspan\u003eThe customer has added a pair of sneakers from last year’s collection to their shopping basket. Exposing them to images of similar but more expensive sneakers from the most recent collection could lead to an upsell. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eCross-selling: \u003c/b\u003e\u003cspan\u003eThe customer has added a pair of sneakers to their shopping basket. You could display related product recommendations on the checkout page (e.g., socks, insoles, or shoelaces) to prompt them to buy additional items that increase the value of the purchase. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eUpselling Best Practices\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eYou can use upselling tactics in three steps:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eBefore purchase: \u003c/b\u003e\u003cspan\u003edisplay recommendations at the bottom of the product/category page or in the sidebar (sometimes both).\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eDuring purchase: \u003c/b\u003edisplay recommendations using pop-ups, in the \u003ca href=\\\"/ecommerce-wiki/shopping-cart\\\"\u003eshopping cart\u003c/a\u003e, on the \u003ca href=\\\"/ecommerce-wiki/checkout-page\\\"\u003echeckout page\u003c/a\u003e, or in the \u003ca href=\\\"/ecommerce-wiki/abandoned-cart-emails/\\\"\u003eabandoned cart emails\u003c/a\u003e.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAfter purchase:\u003c/b\u003e\u003cspan\u003e use personalized follow-up emails to entice customers to come back for more.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eSuccessful upselling is based on understanding your customers’ needs and making the shopping experience more enjoyable. Remember, a good upsell always leaves the customer feeling like they won. Here are some of the best practices to try: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eIncentivize upsells and reward customers for spending more money on your site (e.g., offer free shipping or a discount on future purchases).\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eUse side-by-side comparisons to demonstrate the value of the more expensive version of the product.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eEnsure the product you’re trying to upsell is within a reasonable price range. Customers will rarely pay more than 25% of what they planned to spend.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDon’t be pushy. Showcase available alternatives but allow your customers enough space to make up their minds on their own.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/blog/best-urgency-scarcity-tactics-increase-sales\\\"\u003eCreate a sense of urgency\u003c/a\u003e by communicating real-time updates on your stock (“only 2 items left”) or reminding them that the offer will be available for a limited time only.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eUse customer data to personalize the offers as much as possible and suggest products that genuinely add value to the purchase.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eEducate customers on the risks, or missed opportunities, of not taking advantage of the offer.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eUse the right language to communicate the benefits of buying or the risks of not buying the recommended product. A value\u003ca href=\\\"/ebooks/mindset/unique-selling-proposition\\\"\u003e proposition is key\u003c/a\u003e.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eShow a good range of similar products but don’t overwhelm your customer with too much choice.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003eGreat Upselling Examples\u003c/h2\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.dollarshaveclub.com\\\"\u003e\u003cstrong\u003eDollar Shave Club\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955827-dollar-shave-club.png\\\" alt=\\\"Dollar Shave Club Upselling example\\\" width=\\\"1024\\\" height=\\\"851\\\"\u003e\u003c/p\u003e\\n\u003cp\u003eThe Dollar Shave Club place some restock options on their product pages to remind customers to buy extra razor blades, or moisturizers if they are running low. These are useful reminders to customers to top up on things that they will need in the future, as opposed to annoying sales pitches for unrelated products.\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.sky.com/shop/offers/\\\"\u003e\u003cstrong\u003eSky\u003c/strong\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955826-sky-packages.png\\\" alt=\\\"Sky Upselling Packages\\\" width=\\\"946\\\" height=\\\"1024\\\"\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003cp\u003eSky, like many other TV bundle suppliers, offers a basic package to customers, alongside various add-ons that create different values depending on the customer. Families might enjoy the cinema or kids' add-ons, but young couples might enjoy On-Demand, and sports fans might enjoy Sports. Because there are many variables in play when it comes to what channels customers want, Sky provides great value in giving customers the choice while placing their order.\u003c/p\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/increase-average-order-value\\\"\u003e10 Ways to Increase Average Order Value\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003eHow to Market a Product: 18 Effective Marketing Tips to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Upselling? | The difference between Upselling and Cross-selling | Upselling Best Practices | Read this article to learn more about upselling.\",{\"_258\":286,\"_84\":405,\"_190\":403},\"What is Upselling? - Learn Why is Upselling so Important | Read More\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":409,\"_258\":259,\"_260\":410,\"_59\":411,\"_84\":412,\"_264\":413,\"_75\":414,\"_275\":417,\"_279\":418,\"_281\":419,\"_283\":419,\"_284\":420,\"_288\":422,\"_293\":423},\"eyJsYXN0X2lkIjo1NTk4ODY4Mjc1NDIsImxhc3RfdmFsdWUiOjU1OTg4NjgyNzU0Mn0=\",\"gid://shopify/Article/559886827542\",\"fulfillment\",\"Fulfillment\",\"2024-05-02T13:02:17Z\",{\"_258\":267,\"_6\":415,\"_269\":416,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489839-what-is-fulfillment.png?v=1714654938\",\"What is Fulfillment?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Fulfillment?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.shopify.com/fulfillment\\\"\u003eOrder fulfillment\u003c/a\u003e is all the steps a company takes between receiving a new order and placing that order into the customer’s hands. The practice involves warehousing, picking and packing the product, shipping it and sending an automated email to the customer to let them know the order is in transit.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eThe Steps of Order Fulfillment?\u003c/b\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eReceiving inventory. \u003c/b\u003e\u003cspan\u003eEssentially, an eCommerce company has two ways to handle inventory. It can choose to receive and stock the inventory in-house or it can use an eCommerce order fulfillment outsourcer to take care of its stock and all the related tasks. In case it opts for the first option, the company will be responsible for taking stock, examining the inventory, labeling, and managing the inventory system. \u003ca href=\\\"/ecommerce-wiki/outsourcing\\\"\u003eIf the company chooses to outsource\u003c/a\u003e or decide to dropship, these tasks will be handled by the order fulfillment partner or supplier.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eStoring inventory. \u003c/b\u003eIf you decide to warehouse the inventory yourself, there will be another slate of tasks awaiting you once the receiving part is completed. The main tasks on the list will be to \u003ca href=\\\"/ecommerce-wiki/warehousing\\\"\u003eshelve the inventory and keep a close eye on what items come in and what items go out\u003c/a\u003e, so that you can ship the orders without any delays.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProcessing the order.\u003c/b\u003e\u003cspan\u003e Businesses that outsource order fulfillment don’t need to go into the nitty-gritty of order processing, as they simply pass on the order request to their partner and let them handle the rest. For companies that manage their own inventory, this is the part where the order is picked off the shelf, transported to a packing station, inspected for any damages, boxed and moved to the shipping station.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eShipping the order. \u003c/b\u003e\u003cspan\u003eDepending on the size, weight and specific requirements of the order, the best shipping method is determined. Usually, a third-party carrier is contracted to fulfill this step.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHandling returns.\u003c/b\u003e\u003cspan\u003e For online buyers, the ability to easily return unwanted items is a major factor in the buying operation. To ensure the receiving, replacing and refunding of the returned items are as efficient as possible, you need to design a crystal clear returns policy that is easily accessible to both your buyers and staff. Having this step automated can help you avoid unnecessary chaos and errors.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e \u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is the Order Fulfillment Process?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe eCommerce order fulfillment process is pretty straightforward. As explained above, order fulfillment comprises the activities of receiving, processing, and shipping the order, but can be broken down into smaller steps in chronological order: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003eOrder is received (online, in person, via email or on the phone)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOrder request is registered in the inventory system\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOrder confirmation is sent to the customer \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOrder request is sent to the warehouse\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eA warehouse worker locates and picks the ordered item\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOrder is packed and prepared for shipping\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOrder is shipped\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe customer is notified that the order is on its way\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOrder is delivered\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIf necessary, order returns are handled and refunds granted\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eInventory is updated\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003eEcommerce Order Fulfillment Model\u003c/h2\u003e\\n\u003cp\u003eThere are many ecommerce order fulfillment models to choose from for your ecommerce store and each has their merits.\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/what-is-dropshipping\\\"\u003eDropshipping\u003c/a\u003e: As an order fulfillment model dropshipping is the easiest to implement. To fulfil an order you simply place an order with your supplier adding your customer’s address and the goods will be shipped straight to them.\u003c/li\u003e\\n \u003cli\u003eIn-House Fulfillment: This model involves you completing all steps in the fulfillment procedure internally, investing in software and automation where necessary to make the operation easier.\u003c/li\u003e\\n \u003cli\u003eThird-Party Fulfillment: Outsourcing order fulfillment could be the right option for you if you do not possess the resources currently to package and store goods locally. Relying on a reputable third party to take over this activity can give you more time to promote your brand and business.\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-dropshipping\\\"\u003eWhat Is Dropshipping? It’s the Easiest Way to Start an Online Business!\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/first-time-ecommerce-entrepreneur-story\\\"\u003e8 Months and $1M Later: How One First-Time Ecommerce Entrepreneur Made his Fortune\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/oberlo-dropshipping-faq\\\"\u003eOberlo Dropshipping FAQ\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/16-dropshipping-tips\\\"\u003e16 Dropshipping Tips for New Entrepreneurs You Need to Know\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Fulfillment? | What are the steps of Order Fulfillment? | What is the Order Fulfillment Process? | Get all the answers in this article, read it.\",{\"_258\":286,\"_84\":421,\"_190\":419},\"What is Fulfillment: Definition and the Steps of Order Fulfilment? | Oberlo\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":425,\"_258\":259,\"_260\":426,\"_59\":427,\"_84\":428,\"_264\":429,\"_75\":430,\"_275\":433,\"_279\":434,\"_281\":435,\"_283\":435,\"_284\":436,\"_288\":438,\"_293\":439},\"eyJsYXN0X2lkIjo1NTk4ODY4NjAzMTAsImxhc3RfdmFsdWUiOjU1OTg4Njg2MDMxMH0=\",\"gid://shopify/Article/559886860310\",\"cyber-monday\",\"Cyber Monday\",\"2024-05-02T13:02:19Z\",{\"_258\":267,\"_6\":431,\"_269\":432,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898646-what-is-cyber-monday.png?v=1714654939\",\"What is Cyber Monday?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Cyber Monday? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eCyber Monday is a marketing term referring to the first Monday after the Thanksgiving holiday in the United States. It’s a 24-hour online shopping event that was originally created by businesses to encourage people to do their shopping online and is now often regarded as an extension of the Black Friday sales.\u003c/p\u003e\u003ch3\u003e\u003cb\u003eWhat is the Difference Between Cyber Monday and Black Friday?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003eThe origins of the term ‘Black Friday’ go back as far as the 1950s, whereas Cyber Monday’s origins are much more recent. The term was coined in 2005 to describe the Monday after the Black Friday when people continued to shop online after going back to work. Cyber Monday is by far the biggest online shopping day of the year, representing a massive sales opportunity for eCommerce retailers.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eMany smart and savvy retailers take advantage of the ‘\u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/black-friday\\\"\u003e\u003cspan\u003eBlack Friday sales season\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e’ (which usually starts around Tuesday) to figure out which deals and promotions are working and use those insights to optimize their Cyber Monday sales. By replacing unpopular offers with deals that are in high demand, businesses can do both, drive more profit and keep their customers happy. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough traditionally Black Friday sales focused on in-store deals, more and more shoppers choose to hunt for offers online, and the concept of Black Friday as the kick-off of the holiday shopping season is changing. The period from Black Friday to Cyber Monday is now often referred to as ‘Cyber weekend’, with discounts getting steeper and steeper as the sale progresses. It’s a great opportunity for retailers to clear their stock and gather useful data in preparation for the Christmas sale. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003ePreparing Your Online Store for Cyber Monday\u003c/b\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eOptimize your website for mobile devices. \u003c/b\u003e\u003cspan\u003eBoth Black Friday and Cyber Monday demonstrate an enormous growth of mobile shopping. Ensuring your website looks great and works seamlessly across all devices is key in order to grab a share of the mobile sales.\u003cbr\u003e\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eEnsure you can handle the demand. \u003c/b\u003e\u003cspan\u003eWhether you’re dropshipping, manufacturing your products, or carrying your own stock, work with your partners to prepare for the holiday sales spike and avoid selling out faster than you wanted.\u003cbr\u003e\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCreate buzz and suspense before the sale starts. \u003c/b\u003e\u003cspan\u003eAnnouncing your Black Friday or Cyber Monday offers on the day of the sale is one thing, but building a suspense around your upcoming deals through sneak-peeks, email marketing campaigns, social media promotions and gorgeous visuals on your site is a completely different matter. The momentum you manage to build early on will help you increase the volume of your sales once the deals are released.\u003cbr\u003e\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eInvest in paid search advertising. \u003c/b\u003e\u003cspan\u003eCyber Monday has grown into a huge online shopping event, with customers deliberately delaying their shopping until this day to benefit from hefty discounts. A great portion of Cyber Monday sales is generated through paid search ads, as shoppers are searching with an intent to buy rather than just to browse. Conduct thorough keyword research to find keyword opportunities and attract the right customers.\u003cbr\u003e\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHave your distribution strategy figured out. \u003c/b\u003e\u003cspan\u003eEmail campaigns, social media ads, gift guides, and keyword optimized content are the obvious avenues for driving traffic to your store and there is an array of other \u003c/span\u003e\u003ca href=\\\"/blog/black-friday-marketing-ideas\\\"\u003e\u003cspan\u003eholiday sales marketing ideas\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that you should consider, but distributing the irresistible Cyber Monday offers online across different subreddits, forums, Facebook groups, deal aggregators and other sites is one of the low-hanging fruits that often gets overlooked, though could generate great results if done right.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/black-friday-marketing-ideas\\\"\u003eCreative Black Friday Marketing Ideas\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003eTrending Products to Sell for Black Friday and Cyber Monday\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Cyber Monday? | What is the difference between Cyber Monday and Black Friday? | Read this article to learn more about Cyber Monday.\",{\"_258\":286,\"_84\":437,\"_190\":435},\"What is Cyber Monday? - How to prepare for Cyber Monday? | Read More\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":441,\"_258\":259,\"_260\":442,\"_59\":443,\"_84\":444,\"_264\":445,\"_75\":446,\"_275\":449,\"_279\":450,\"_281\":451,\"_283\":451,\"_284\":452,\"_288\":454,\"_293\":455},\"eyJsYXN0X2lkIjo1NTk4ODY4OTMwNzgsImxhc3RfdmFsdWUiOjU1OTg4Njg5MzA3OH0=\",\"gid://shopify/Article/559886893078\",\"customer-service\",\"Customer Service\",\"2024-05-02T13:02:21Z\",{\"_258\":267,\"_6\":447,\"_269\":448,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898646-what-is-customer-service.png?v=1714654941\",\"What is Customer Service?\",[277,278],\"\u003ch2\u003eWhat is Customer Service?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCustomers need support \u003c/span\u003e\u003ca href=\\\"https://www.salesforce.com/products/service-cloud/what-is-customer-service/\\\"\u003e\u003cspan\u003ebefore, during, and after making a sale\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Customer service provides this support through information, assistance, and creating a trusting environment. This support can be delivered through many different media, like phone, email, online chat, \u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/blog/customer-service#channels\\\"\u003e\u003cspan\u003esocial media\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, text message, and more. Customer service can be a great way to distinguish your business from your competitors.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhat Does it Mean to be Customer Service Oriented?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCompanies that value their customers and invest in making sure they find the information they seek are seen as customer service oriented. To be customer service oriented, a company must have a great customer service training program, and staff who are proud of the work they do. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is Customer Service Important to a Company?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCustomer Service has many different roles in a company but the most important role they have is being an informant for the company and to the company. But what does this mean?\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eFront of House\u003c/b\u003e\u003cspan\u003e: Customer Service agents represent the company to prospects and customers alike. The way they portray the company will help customers in their decision to do business with the customer. Therefore agents must be courteous and informative, while also answering questions correctly.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eDefuse Situations\u003c/b\u003e\u003cspan\u003e: Customer Service deals mostly with negativity and the need to find a way to turn this into positivity in order to make the customer happy. Negativity could mean a faulty product or confusing instructions, but regardless of the issue, the role of customer service is to calm the customer down and provide information that will please them.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCustomer Oriented = Customer Experience\u003c/b\u003e\u003cspan\u003e: When a customer is looking for a product and more than one vendor can provide a high-quality product at a good price customer service can be the deciding factor. Customer Service agents that \u003c/span\u003e\u003ca href=\\\"https://www.zendesk.com/resources/customer-service-skills/\\\"\u003e\u003cspan\u003ego above and beyond\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to make a sale possible can be the reason a customer spends more to buy from that company.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/relationship-marketing\\\"\u003e\u003cb\u003eReputation Management\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e: Customer Service agents are normally the first to hear about faults in products and can alert departments to issues before they are even aware of them themselves. This ability to relay information in real-time can save your business thousands in reputation management costs as you can fix problems, issue press releases, and pull products off shelves before things get worse. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eReal-Time Reviews\u003c/b\u003e\u003cspan\u003e: On the flip side of reputation management, customer service departments receive \u003c/span\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/product-review\\\"\u003e\u003cspan\u003epositive reviews of the business\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e on a daily basis. These reviews can be showcased on your website, social media, and anywhere else where people can see them. Building a good communication structure into your business so your customer service department can provide feedback to the right department quickly is so important to the long-term success of your business.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eExamples of Good Customer Service\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eGood customer service can be hard to define as it depends on the individual and what they expect, but there are a few examples of skills that make a good customer service department even better. If you want to know what’s an example of good customer service these skills will be involved. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eDon’t be a Salesperson\u003c/b\u003e\u003cspan\u003e: Although some call center and customer service departments are sales orientated, it is important to not have this mindset when trying to talk to someone. It can be frustrating talking to someone about an issue, especially if their main goal is to upsell you something else. Being customer service oriented is more important than making a sale when a customer has an issue. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBe Honest to Your Customers\u003c/b\u003e\u003cspan\u003e: If you don’t know the answer say so and try to find the answer for them. This could mean taking their number and calling them when you have found the information, or you could transfer the person to the right department. Providing accurate information to a customer is more important than getting them off the phone.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProvide \u003c/b\u003e\u003ca href=\\\"https://www.helpscout.com/blog/customer-service-skills/\\\"\u003e\u003cb\u003eGreat Product Training\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e: Answering customer questions all day is one of the hardest jobs in the world but schooling your customer service representatives on your product and ensuring that they know it inside out will mean they have experience with it and can give better insight to customers when they have questions and issues. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBe Approachable and Friendly\u003c/b\u003e\u003cspan\u003e: A customer service department that is friendly can talk volumes about your business. We have all rang a customer service department only to get through to a demotivated person who does not want to help. Preach the importance of your agents being approachable and quick to answer questions so that you leave a lasting positive impression in your customer’s mind. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/customer-experience\\\"\u003eHow to Improve the Customer Experience\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/customer-service\\\"\u003e8 Ways to Optimize Your Ecommerce Customer Support\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/blog/customer-service\\\"\u003e20 Great Customer Service Ideas to Surprise and Delight Shoppers\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-handle-angry-ecommerce-customers\\\"\u003e\u003cspan\u003eHow to Handle Angry Ecommerce Customers + Free Email Templates\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is Customer Service | Why is Customer Service Important to a Business | What Does it Mean to be Customer Service Oriented |What Customer Service Can Do For Your Business\",{\"_258\":286,\"_84\":453,\"_190\":451},\"What Is Customer Service? A Definition and More - Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":457,\"_258\":259,\"_260\":458,\"_59\":459,\"_84\":460,\"_264\":461,\"_75\":462,\"_275\":465,\"_279\":466,\"_281\":467,\"_283\":467,\"_284\":468,\"_288\":470,\"_293\":471},\"eyJsYXN0X2lkIjo1NTk4ODY5MjU4NDYsImxhc3RfdmFsdWUiOjU1OTg4NjkyNTg0Nn0=\",\"gid://shopify/Article/559886925846\",\"shopping-cart\",\"Shopping Cart\",\"2024-05-02T13:02:22Z\",{\"_258\":267,\"_6\":463,\"_269\":464,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898635-what-is-shopping-cart.png?v=1714654943\",\"What is Shopping Cart?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Shopping Cart?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA shopping cart is a piece of software that keeps the record of the items a buyer has ‘picked up’ from the online store. Acting as an online store’s catalog, the eCommerce \u003ca href=\\\"https://www.shopify.com/tour/shopping-cart\\\"\u003eshopping cart\u003c/a\u003e enables consumers to select products, review what they selected, make modifications or add extra items if needed, and purchase the products.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eTypes of Shopping Carts\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eEvery online store must have the shopping cart functionality to be able to sell products to customers. Essentially, there are two types of shopping carts – hosted and self-hosted shopping carts. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eHosted shopping carts \u003c/b\u003e\u003cspan\u003eare\u003c/span\u003e \u003cspan\u003eoff-the-shelf solutions managed by the company who created them. What this means is that all you need to do to set up your store is to sign up with your chosen host and you’re good to go. You can use pre-made website templates to set up a completely new store or simply add purchase buttons to your existing website and start selling immediately. By far the most popular hosted shopping cart is \u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/\\\"\u003e\u003cspan\u003eShopify\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, but there are \u003c/span\u003e\u003cspan\u003eplenty of other options\u003c/span\u003e\u003cspan\u003e, too.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSelf-hosted shopping carts \u003c/b\u003e\u003cspan\u003eare 100% customizable shopping solutions that you host on your own server. This simply means that you download the software and run it yourself.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is Shopping Cart Abandonment? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eShopping cart abandonment occurs when customers add items to their shopping cart but don’t complete the purchase. It is one of the biggest issues plaguing eCommerce entrepreneurs, as roughly of shopping carts are abandoned worldwide.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIn order to tackle the whopping shopping cart abandonment rate, marketers need to understand the underlying reasons and drivers behind this decision. The most common reason for shopping cart abandonment is that \u003ca href=\\\"/statistics/shopping-cart-abandonment-rate\\\"\u003epeople were simply browsing for options\u003c/a\u003e. According to a recent \u003c/span\u003e\u003cspan\u003estudy\u003c/span\u003e\u003cspan\u003e, the \u003ca href=\\\"https://baymard.com/lists/cart-abandonment-rate\\\"\u003emost commonly stated reasons for abandonments during checkout\u003c/a\u003e include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eUnexpected extra costs that are too high (shipping, tax, fees)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMerchant not providing the option of guest checkout and asking to create an account \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe checkout process takes too long or is too complicated \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe merchant doesn’t show the total order cost upfront \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eWebsite has bugs or crashes during checkout \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eWebsite seems fishy, customers have payment security concerns \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDelivery is too slow \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDisappointing returns policy discourages customers from buying \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMerchant does not provide enough payment methods \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMerchant does not provide a mobile-friendly payment option \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eConsumer’s credit card is declined \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eConsumer finds a better deal elsewhere\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eConsumer is only browsing or doing research \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eResponding to Shopping Cart Abandonment?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough not a definitive list, it gives a pretty good insight into the complicated issue of shopping cart abandonment. Each reason listed above calls for a different solution and eCommerce marketers need to think about and address each and every one of them in a smart and non-intrusive way. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor example, here are a few methods to \u003ca href=\\\"/blog/add-to-carts-conversion-optimization\\\"\u003ecombat the most popular cart abandonment reasons\u003c/a\u003e:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eProblem: \u003c/b\u003e\u003ci\u003e\u003cspan\u003ecustomers don’t want to pay unexpected extra costs\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\u003cb\u003eSolution:\u003c/b\u003e\u003cspan\u003e communicate all additional costs upfront and avoid any hidden or small-print charges. There’s nothing more frustrating for a consumer than to go through all the checkout process only to discover they’re hit by outrageous shipping charges. They will never come back.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProblem: \u003c/b\u003e\u003ci\u003e\u003cspan\u003ecustomers don’t want to create a new account in order to checkout \u003c/span\u003e\u003c/i\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\u003cb\u003eSolution:\u003c/b\u003e\u003cspan\u003e although collecting data about your customers is a critical component of your store’s success, do not force buyers to create an account with you or you’ll end up losing them. The best solution is to provide a guest checkout or social logins (Facebook, LinkedIn, Gmail, etc) option alongside your usual “create an account” solution and let the customer choose. You can always ask for more details later on.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProblem: \u003c/b\u003e\u003ci\u003e\u003cspan\u003ecustomers find the checkout process too long\u003c/span\u003e\u003c/i\u003e\u003ci\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\u003c/i\u003e\u003cb\u003eSolution: \u003c/b\u003e\u003cspan\u003eyou may not be able to actually reduce the number of steps in the checkout process, but you can eliminate shopper frustration by adding a visually appealing progress bar to your checkout page to provide constant progress updates and make the customer feel in control.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eIn order to reduce your shopping cart abandonment rate, you must identify the main drivers and friction points first. There are many \u003c/span\u003e\u003ca href=\\\"/blog/ecommerce-trends\\\"\u003e\u003cspan\u003eeCommerce statistics\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that can shed light on possible issues, but you should start by examining your store’s conversion pathways in Google Analytics and visually mapping out the flow of your site.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eHow to Use Google Analytics for Your Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-subscribers\\\"\u003e10 Ways to Turn Site Visitors Into Email Subscribers for Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/abandoned-carts\\\"\u003eHow to Recover Abandoned Carts Easily\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Shopping Cart? | What is Shopping Cart Abandonment? | Learn how can eCommerce store owners respond to Shopping Cart Abandonment?\",{\"_258\":286,\"_84\":469,\"_190\":467},\"What is Shopping Cart? | Types of Shopping Carts - Learn More | Oberlo\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":473,\"_258\":259,\"_260\":474,\"_59\":475,\"_84\":476,\"_264\":477,\"_75\":478,\"_275\":481,\"_279\":482,\"_281\":483,\"_283\":483,\"_284\":484,\"_288\":486,\"_293\":487},\"eyJsYXN0X2lkIjo1NTk4ODY5NTg2MTQsImxhc3RfdmFsdWUiOjU1OTg4Njk1ODYxNH0=\",\"gid://shopify/Article/559886958614\",\"supply\",\"Supply\",\"2024-05-02T13:02:24Z\",{\"_258\":267,\"_6\":479,\"_269\":480,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898634-what-is-supply.png?v=1714654945\",\"What is Supply?\",[277,278],\"\u003ch2\u003e\u003cstrong\u003eWhat Is Supply?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe definition of supply is the quantity of product or service a business has to offer to its client at a particular point in time. For a physical, brick and mortar store this means the inventory a business holds on their premises and within warehouses that it can sell to customers. For a dropshipper, supply is the amount of product a supplier can guarantee to a merchant.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eWhat Is Supply Management?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSupply management can be described as the \u003c/span\u003e\u003ca href=\\\"https://www.instituteforsupplymanagement.org/content.cfm?ItemNumber=5558\u0026amp;SSO=1\\\"\u003e\u003cspan\u003eability to research, source and maintain\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e the resources necessary to run a business efficiently. It takes into account management of the suppliers of any raw materials, and the purchasing and upkeep of products or machinery needed to create products. For supply management to be successful the business needs to understand it’s audience, marketplace, and industry trends, to know when to order more stock, allow more time for delivery of raw materials, or to replace machinery that has depreciated beyond reasonable repair. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhat Is Supply and Demand?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAs one of the most widely taught topics in economics today, supply and demand is the theory behind how the market can allocate resources according to the needs of the many in the most efficient way. Strictly speaking, demand here means the current needs of the marketplace and supply means the ability to meet these demands. The theory of supply and demand comes into play when marketplaces show their willingness to pay more for one product over another another. For instance, if consumers are willing to pay twice as much for a jam doughnut over a ring doughnut, even if the raw materials are very similar and it costs the same to make both, sellers are willing to charge a higher price and stock more of the most popular product on their shelves.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eExamples of Supply and Demand\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA classic supply and demand example happens at Christmas for lots of companies across the world. During the year demand is steady for many types of toys. Prices are consistent as supply can match or exceed demand. But at Christmas demand multiplies tenfold, making it hard for supply to keep up with the needs of the marketplace. This leads to prices rising as limited stock and increased demand makes products more sought after. After Christmas day however prices go back to normal or even under the original price to compete with sales at that time of the year. Prices drop as demand defaults back to its previous levels before the Christmas rush started. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAnother supply and demand example is in agriculture where if a crop is plentiful in harvest the retailers may buy more stock from the source, but pay farmers less and charge the customer less per kg in order to get rid of excess supply. The opposite is the case when a crop has had a bad harvest as demand outweighs supply so prices much increase. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhat is Supply Chain Management?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSupply Chain Management is the efficient running of supply management in order to \u003c/span\u003e\u003ca href=\\\"https://scm.ncsu.edu/scm-articles/article/what-is-supply-chain-management-scm\\\"\u003e\u003cspan\u003emaximize the value for the customer and the company\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This means that the management of raw materials, the delivery of products to retailers or customers, the purchasing of machinery, and all activities to do with Supply Chain Management have been analyzed to ensure that all are the most cost-effective option for the company. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eThe Importance of Supply Chain Management\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSupply Chain Management is hugely important to every company, especially if they manufacture or store their own stock. It can help companies to remain profitable when competitors are struggling to break even. The main importance of Supply Chain Management to businesses revolves around decreasing costs and creating reliable workflows within and outside of the company. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://www.global-business-school.org/announcements/what-is-supply-chain-management-why-is-important\\\"\u003e\u003cb\u003eDecreasing Costs\u003c/b\u003e\u003c/a\u003e\u003cb\u003e:\u003c/b\u003e\u003cspan\u003e There are many different sides to Supply Chain Management. From the production management side, supply chain looks after sourcing suppliers for production or delivery of materials. This role needs to ensure not only that they find the best prices in the marketplace but also the most reliable suppliers available. This is to ensure that materials get delivered on-time and in good condition, thus companies can continue to operate at maximum levels in order to meet the demands of their industry. This role might not necessarily opt for the cheapest materials in the market but Supply Chain Management decreases costs overall by ensuring that the company can reach its objectives continuously with minimal disruption to service.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eReliable Workflows: \u003c/b\u003eOn the services side, Supply Chain Management is making sure that customers receive their purchases within an acceptable time and in the condition they expect it to be in. This means that courier services must be vetting and monitored to ensure that high standards are maintained and that the cost of the service equates to the true value of it. If, for instance, a courier delivered parcels on time for three months and then began to deliver parcels on average two days later than promised, with the proper feedback channels and workflows in place, the supply chain department will know these things are happening and be able to rectify the situation before things get out of hand. The business must review all workflows regularly to make sure they are running in the most efficient way possible.\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003e\u003cstrong\u003eSupply Chain Management Best Practices\u003c/strong\u003e\u003c/h2\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eImplement Technology:\u003c/b\u003e\u003cspan\u003e If a company doesn’t utilize technology and software at the minute, now is the time to. If a company is working with an out of date system that hinders rather than helps, now is the time to find a new software supplier. Businesses should take the time to shop around, try a trial or two, and find the best option for their business needs. With a large number of supply chain software in the marketplace, the right technology is out there for every company.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/supplier-directory#1_Contact_the_supplier_before_ordering_anything\\\"\u003e\u003cb\u003eMaintain Great Supplier Relationships\u003c/b\u003e\u003c/a\u003e\u003cb\u003e:\u003c/b\u003e\u003cspan\u003e Suppliers are so important to the success of a business that it is too costly to have a bad relationship with them. Businesses should spend time talking with them. Never assume they can do something — ask them and always ensure prompt payment to keep them happy.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://www.supplychainquarterly.com/topics/Procurement/scq201101bestpractices/\\\"\u003e\u003cb\u003eTotal Cost Over Price:\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e A great Supply Chain Management department looks at the total cost over the cost of purchasing from a supplier. If the supplier can provide the right quantity of raw materials, in the least amount of days at a slightly high cost than the closest competitors who cannot supply quantity or within a timeline then the total cost of the most efficient supplier outweighs the slight price increase. Of course, quality and other considerations also matter, but companies must ensure they are getting the best deal for their needs when shopping for suppliers.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOptimize Inventory:\u003c/b\u003e\u003cspan\u003e Doing a regular stocktake of everything in a company’s stores is a great way to optimize inventory and protect against over-ordering stock that is already plentiful in the company. Factor in trends and forecasts to make sure the busy and quiet periods are both catered for. Stock optimization is effective in cutting costs and can result in identifying a surplus of storage leading to a lessening need for warehousing, therefore decreasing fixed assets and the cost incurred through them.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eReview and Track:\u003c/b\u003e\u003cspan\u003e Data is an ever developing area in all elements of a business and Supply Chain Management is included in this. Setting KPIs that track the success of the supply chain process helps ensure the department is achieving its goals and also striving to be better. A well-performing Supply Chain Management department not only hits their targets but sets bigger and better targets every year aiming to work more closely with suppliers to achieve these.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBe Socially Responsible:\u003c/b\u003e\u003cspan\u003e Companies need to look at different ways they can help their local communities and those in need across the world. Coffee retailers who source coffee beans from local farmers in production areas are leading the way in this area as they are ensuring that those who harvest the crop get as much of the money as possible from the sale. Another company who strive to be socially responsible is Ben \u0026amp; Jerry’s — who commits to have all of the ingredients in its ice-cream products certified by FLO-CERT as environmentally sound and being harvested in a sustainable manner.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cstrong\u003eWant to Learn More?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-dropshipping\\\"\u003e\u003cspan\u003eWhat is Dropshipping: Things You Need To Know Before Getting Started\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-urgency-scarcity-tactics-increase-sales\\\"\u003e\u003cspan\u003eThe Best Urgency and Scarcity Tactics to Increase Your Sales\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003e\u003cspan\u003eWhat Should You Sell Online?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-suppliers\\\"\u003e\u003cspan\u003eSupplier Directory: How to Source Products Without Risk\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Supply in business is the quantity of product a business has to offer its customer at a particular point in time. Discover what it means for both a physical and online store.\",{\"_258\":286,\"_84\":485,\"_190\":483},\"What is Supply in Business? - Definition | Meaning | Example\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":489,\"_258\":259,\"_260\":490,\"_59\":491,\"_84\":492,\"_264\":493,\"_75\":494,\"_275\":497,\"_279\":498,\"_281\":499,\"_283\":499,\"_284\":500,\"_288\":502,\"_293\":503},\"eyJsYXN0X2lkIjo1NTk4ODY5OTEzODIsImxhc3RfdmFsdWUiOjU1OTg4Njk5MTM4Mn0=\",\"gid://shopify/Article/559886991382\",\"black-friday\",\"Black Friday\",\"2024-05-02T13:02:26Z\",{\"_258\":267,\"_6\":495,\"_269\":496,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898652-what-is-black-friday.png?v=1714654947\",\"What is Black Friday?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Black Friday?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eBlack Friday (the day following the Thanksgiving Day holiday on the last Thursday in November) is the biggest retail sales day in the United States, often regarded as the unofficial start of the holiday shopping season.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003e\u003ca href=\\\"/ecommerce-wiki/cyber-monday\\\"\u003eCyber Monday\u003c/a\u003e, the Monday after Black Friday, is a 24-hour online shopping event that was created to persuade people to do their shopping online and is now seen as an extension of the Black Friday sales.\u003c/span\u003e\u003c/p\u003e\\n\u003cp class=\\\"YT_Video\\\"\u003e\u003ciframe width=\\\"500\\\" height=\\\"281\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\\\" allowfullscreen=\\\"\\\" src=\\\"https://www.youtube.com/embed/R4LHZ-9g580?feature=oembed\u0026amp;enablejsapi=1\u0026amp;origin=https://wp-en.oberlo.com\\\"\u003e\u003c/iframe\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is Black Friday Important to eCommerce Retailers?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTraditionally, retailers would roll out a variety of in-store deals on everything from electronics to toys to kick off the Christmas shopping season, opening the stores as early as 5 am. In recent years, however, the shopping frenzy has moved online, with 2018 being a record-breaking year for eCommerce retailers bringing in \u003ca href=\\\"https://www.forbes.com/sites/nikkibaird/2018/11/28/every-result-you-need-to-know-about-black-friday-cyber-monday-and-holiday-2018-so-far/#64c0e5134eb5\\\"\u003e$6.2 billion\u003c/a\u003e in online sales growing by 23.6% compared to the previous year. With more and more people choosing to carry out their pre-holiday bargain hunting online eCommerce retailers enjoy an unprecedented opportunity to attract new buyers and increase their sales volume. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eKey Black Friday eCommerce insights:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003eBlack Friday shoppers are more likely to \u003c/span\u003e\u003ca href=\\\"https://www.emarketer.com/Article/Younger-Internet-Users-More-Likely-Shop-on-Black-Friday-Cyber-Monday/1014661\\\"\u003e\u003cspan\u003eshop online\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e than in-store, with more and more people using mobile devices to complete purchases online. Americans are 6 times more likely to buy online on Black Friday compared to sales on any other Friday. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eeCommerce retailers \u003c/span\u003e\u003ca href=\\\"https://econsultancy.com/blog/68587-black-friday-cyber-monday-2016-ecommerce-stats-bonanza/\\\"\u003e\u003cspan\u003ereport\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e up to 240% and 380% increase in revenue on Black Friday and Cyber Monday respectively.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eCompared to a normal sales day, online traffic increases up to \u003c/span\u003e\u003ca href=\\\"https://econsultancy.com/blog/68587-black-friday-cyber-monday-2016-ecommerce-stats-bonanza/\\\"\u003e\u003cspan\u003e220%\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e on Black Friday and 155% on Cyber Monday. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAll-day or longer period sales events are more effective than flash sales. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eMore than \u003c/span\u003e\u003ca href=\\\"https://www.comscore.com/Insights/Press-Releases/2016/11/Thanksgiving-and-Black-Friday-Post-Strong-ECommerce-Growth-Combining-for-More-Than-3-Billion-in-Desktop-Spending\\\"\u003e\u003cspan\u003e70%\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of Black Friday desktop shoppers spend their money with retailers who offer free shipping. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe five-day shopping bonanza is an ideal time for e-retailers to clear their stock.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eCapturing a share of the growing Black Friday market represents a huge opportunity for eCommerce retailers on the lookout for new sales angles. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTips For eCommerce Retailers on How to Prepare For Black Friday\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOnline Black Friday sales can start as early as Monday of that week, so make sure you’re ready to engage the bargain-hungry shoppers well in advance. Recent years have seen a plethora of \u003ca href=\\\"/blog/black-friday-marketing-ideas\\\"\u003eBlack Friday marketing ideas\u003c/a\u003e and the list continues to grow, yet some of the most successful strategies include: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eCapitalising on the art of online merchandising.\u003c/b\u003e\u003cspan\u003e Online merchandising is all about the clever science of displaying the best offers and products on a site in such a way that increases sales. Make sure your best deals are positioned to capture visitors’ attention the second they land on your site. Hero images, banners and pop-ups are commonly used to feature the most prominent offers. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOffering incentives to accelerate social sharing.\u003c/b\u003e\u003cspan\u003e To generate more sales you need to drive more traffic to your website quickly, that’s why paid social media and Google ads are marketers’ go-to tactic for driving online footfall. However, you can also try to incentivize shoppers to share your promotions and increase social traffic by offering discount coupons. The best spots to place these offers are the homepage, the product page, checkout page, and the order confirmation page. You can also experiment with sticking the coupon in your purchase confirmation email. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCreating gift guides. \u003c/b\u003e\u003cspan\u003eSales can be overwhelming, so helping your potential customers find the most interesting and relevant offers is one of the best ways to make them open their wallets. Ensure you create several gift guides aimed at different audience segments (gifts for him, gifts for her, gifts for couples, gifts for grandparents, \u003ca href=\\\"/blog/gift-ideas\\\"\u003egift ideas for entrepreneurs\u003c/a\u003e, etc) and feature them on your homepage as well as in your email marketing campaigns. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eTaking advantage of emotional triggers.\u003c/b\u003e\u003cspan\u003e Black Friday shoppers are no different to your regular customers, only that they come to your store already itching to spend money. All you have to do to help them make a purchase is push the right buttons by peppering your website with different emotional triggers. Be sure to feature visually compelling offers (limited discounts, free shipping, referral coupons, free gifts) in premium spots on your website as well as add a live support window (at least for the busiest shopping period), as eager shoppers are always brimming with questions. Exit-intent popups and gift cards have also proved to be particularly effective at grabbing the interest of undecided buyers.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/black-friday-marketing-ideas\\\"\u003eCreative Black Friday Marketing Ideas\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003eTrending Products to Sell for Black Friday and Cyber Monday\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"Black Friday Sale is the biggest retail sales day in the United States, often regarded as the unofficial start of the holiday shopping season.\",{\"_258\":286,\"_84\":501,\"_190\":499},\"What is Black Friday? - Why is Black Friday Important? | Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":505,\"_258\":259,\"_260\":506,\"_59\":507,\"_84\":508,\"_264\":509,\"_75\":510,\"_275\":513,\"_279\":514,\"_281\":515,\"_283\":515,\"_284\":516,\"_288\":518,\"_293\":519},\"eyJsYXN0X2lkIjo1NTk4ODcwMjQxNTAsImxhc3RfdmFsdWUiOjU1OTg4NzAyNDE1MH0=\",\"gid://shopify/Article/559887024150\",\"unique-selling-proposition-usp\",\"Unique Selling Proposition (USP)\",\"2024-05-02T13:02:28Z\",{\"_258\":267,\"_6\":511,\"_269\":512,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898634-what-is-a-usp.png?v=1714654948\",\"What is a USP?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Unique Selling Proposition (USP)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e3The unique selling proposition, or unique selling point (USP), is a marketing concept that refers to any factor or aspect of an object or service that differentiates it from the competition and highlights its unique benefits to consumers. A USP answers the question “how is your product better than that of your competitors?”.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is a Unique Selling Proposition Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA clearly articulated USP can be an effective tool to help you shape and focus your marketing goals to successfully set your brand and products apart from your competition. A USP that strives to communicate unique benefits to consumers is often an integral part of a company’s \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/branding\\\"\u003e\u003cspan\u003ebranding\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e strategy that helps it to stay memorable and form a positive impression in the consumer’s eyes. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eYou know what differentiates your products and business from your competition, but if you don’t communicate that clearly to your prospects through all the marketing collateral you create, it won’t make a difference.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Develop a Strong Unique Selling Proposition?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eRemember that a USP is not a tagline, but a good tagline will effectively summarize the full USP in one sentence to make it impactful and digestible. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe purpose of a USP is to answer one question: “Why should a potential customer buy from you?”. A successful unique selling proposition can be just a few words (like a tagline) or a full paragraph, the word count doesn’t matter as long as you capture and clearly articulate the promise to your customers that makes you different and desirable. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003ePinpointing your USP starts with extensive \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/market-research\\\"\u003e\u003cspan\u003emarket research\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. The first step to establishing a strong connection with your customers is figuring out what motivates their buying decisions and what they care about. There are many different sales features, such as convenience, quality, friendliness, reliability, cleanliness, customer service, etc., that can influence your customers’ decisions and entice them to come back. Without that knowledge, understanding what matters to your target audience and focusing on it in your marketing materials will be impossible. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eYou must undertake market research to find out why your current customers are choosing your brand over your competition. If you’re just starting out and don’t have customers that could provide you with such insight, research your competitors and look for areas that you could improve and innovate. Having a clear understanding of what makes your company special from the very start will help you grow faster, as more customers will buy from you, and achieve a better brand recall. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eUSPs are often grouped into the following categories: price, quality, service, speed, selection, convenience, guarantee, customization, originality, and specialization. Pick one that will be at the core of your promise and work from there. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo crystallize and communicate your unique strengths, ask yourself these questions:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eWhat problem does my product/service solve?\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eWhat do I offer that my competitors don’t?\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eHow easy is it for my competitors to copy that?\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCan this strength be communicated easily?\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eExamples of Effective USPs \u003c/b\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eDomino’s Pizza:\u003c/b\u003e\u003cspan\u003e “You get fresh, hot pizza delivered to your door in 30 minutes or less, or it’s free.” \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eTarget:\u003c/b\u003e\u003cspan\u003e “Expect More. Pay Less.”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eDeBeers:\u003c/b\u003e\u003cspan\u003e “A diamond is forever.”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eTOMS Shoes:\u003c/b\u003e\u003cspan\u003e “With every pair you purchase, TOMS will give a pair of new shoes to a child in need. One for One”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eColgate:\u003c/b\u003e\u003cspan\u003e “Improve mouth health in two weeks”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eZappos:\u003c/b\u003e\u003cspan\u003e “The best return policy ever. A return policy that removes the fear of buying online and buying shoes that might not fit.”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eDropbox:\u003c/b\u003e\u003cspan\u003e “Dropbox keeps your files safe, synced, and easy to share. Bring your photos, docs, and videos anywhere and never lose a file again.”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHead \u0026amp; Shoulders:\u003c/b\u003e\u003cspan\u003e “Clinically proven to reduce dandruff.”\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eFedEx:\u003c/b\u003e\u003cspan\u003e “When it absolutely, positively has to be there overnight.” \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eM\u0026amp;Ms:\u003c/b\u003e\u003cspan\u003e “The milk chocolate melts in your mouth, not in your hand.”\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-niches\\\"\u003e8 Reasons to Start a Niche Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-how-to-start-and-succeed\\\"\u003e8 Mistakes to Avoid When Starting an Online Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/stand-out-with-same-products\\\"\u003eHow to Stand Out When Selling the Same Products as Everyone Else\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is a Unique Selling Proposition (USP)? | How to develop a strong Unique Selling Proposition? | Read this article to learn more about USP.\",{\"_258\":286,\"_84\":517,\"_190\":515},\"Unique Selling Proposition: What Is a USP and Why It's Important\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":521,\"_258\":259,\"_260\":522,\"_59\":523,\"_84\":524,\"_264\":525,\"_75\":526,\"_275\":529,\"_279\":530,\"_281\":531,\"_283\":532,\"_284\":533,\"_288\":535,\"_293\":536},\"eyJsYXN0X2lkIjo1NTk4ODcwNTY5MTgsImxhc3RfdmFsdWUiOjU1OTg4NzA1NjkxOH0=\",\"gid://shopify/Article/559887056918\",\"direct-marketing\",\"Direct Marketing\",\"2024-05-02T13:02:30Z\",{\"_258\":267,\"_6\":527,\"_269\":528,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898646-what-is-direct-marketing-1.png?v=1714654950\",\"What is Direct Marketing?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is Direct Marketing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDirect marketing is communicating with members of the public who have shown intent to buy from you, through a direct form of communication, like email, post, or telephone. This is not like advertising which targets a broader audience with high-level information. More importantly, this form of marketing targets and customizes campaigns to the recipient\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003cspan\u003eAn example of direct marketing is that you could launch a direct postal marketing campaign where you target potential customers who joined your email list and never bought from you. You could offer them a 10% discount to buy from your store in the next month, with the expiry date clearly outlined. After a month you should be able to report on the campaign’s success by tracking how many people used your discount code and bought from you for that period of time. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is Direct Marketing Effective?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDirect marketing is effective as you target a specific audience with personalized content. This type of marketing can be cost-effective as you are not targeting a huge audience. The initial cost of rolling out these projects will be less than traditional campaigns. This is because of the personalized nature of the campaigns. \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003eConversion rates are higher\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e as people are interested in your product or service. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eA direct marketing example is launching a direct marketing campaign to people who have added specific products to their cart on your website but didn’t complete the purchase steps. These people are more inclined to buy additional products from you, rather than new visitors to your website. Compared this to a generalized marketing campaign where there is no indication from the recipients if they care about buying from you, and you can see how effective direct marketing can actually be.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat is a Direct Marketing Strategy?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eStrategies look to increase sales for a company, or to grow a company’s brand. With this in mind, your direct marketing strategy should have a call to action. This should lead recipients of a campaign to a \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003e\u003cspan\u003elanding page with an enticing offer or message\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Furthermore, good direct marketing strategies personalize content to each potential customer. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eDirect marketing strategy examples include;\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eadding the person’s name in the body of the text, \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eincorporate products that the customer showed interest in purchasing, and \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003etranslating the campaign into the mother tongue of the recipient. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eIncluding all these in a direct marketing strategy will set you on the course to success.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eDirect Marketing Channels\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many types of direct marketing channels to choose from when you decide to try this form of marketing out. Types of direct marketing include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eTelemarketing\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eEmail Marketing\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDirect Mail\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eTargeted Online Ads\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eText Messaging\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDoor to Door Sales\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough there are many forms of direct marketing, you should research what type is the best for your industry. Look at what competitors are doing, and ask customers what they like. Customers in your industry might not use coupons or voucher codes. Instead, they might like receiving \u003c/span\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e\u003cspan\u003eemail marketing campaigns\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e reminding them of items they left in their shopping cart. Or maybe they prefer hearing about new product lines to browse. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eDirect Marketing Advantages\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n \u003ch3\u003e\u003cspan\u003eBrand Loyalty\u003c/span\u003e\u003c/h3\u003e\\n \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eCustomers who have interacted with your brand before may enjoy receiving information about upcoming offers and products. This acts as a \u003c/span\u003e\u003ca href=\\\"/blog/customer-loyalty-programs-grow-giving\\\"\u003e\u003cspan\u003ereminder to the customer that your company cares about them\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This reminder to the customer can be the difference between them doing business with you or your competition. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n \u003ch3\u003e\u003cspan\u003ePersonalized Communication\u003c/span\u003e\u003c/h3\u003e\\n \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eDirect marketing campaigns are not generic, they are personalized. They include some elements of personalization that allows them to resonate with a certain \u003c/span\u003e\u003ca href=\\\"/blog/market-segmentation\\\"\u003e\u003cspan\u003esegment of your audience\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This could mean that you only share one product range with your recipients. Or you talk to a certain demographic of followers in a campaign. Campaign customization is the main difference between a direct and general marketing campaign.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n \u003ch3\u003e\u003cspan\u003eTrackable Campaigns\u003c/span\u003e\u003c/h3\u003e\\n \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eThe ability to track phone and even text forms of direct marketing make this type of campaign popular. By sharing coupon or voucher codes you can measure the increase in sales easily, making for efficient measurability of campaigns. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n \u003ch3\u003e\u003cspan\u003eFly Under the Radar\u003c/span\u003e\u003c/h3\u003e\\n \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eAs direct marketing campaigns are super customized and segmented there is less chance of competitors being send the campaigns. This means that you can have a \u003c/span\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/competitor-analysis\\\"\u003e\u003cspan\u003ecompetitive advantage over your competition\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e through sending out these intimate communications to customers. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat is Direct Advertising?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDirect advertising is the \u003c/span\u003e\u003ca href=\\\"https://accountlearning.com/direct-advertising-direct-mail-advertising-meaning-forms/\\\"\u003e\u003cspan\u003emass distribution of sales and promotional material\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e through post, email, newspapers, or telephone. Due to its generalized nature, it is nearly impossible to target segments in any way for this type of advertising. Direct advertising is one of the oldest advertising forms or marketing and can be very costly to run. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eDirect advertising is very different to direct marketing. It is the mass distribution of promotional material to a general audience through direct forms of communication. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/digital-marketing-made-simple-complete-beginners-guide\\\"\u003e\u003cspan\u003eThe Complete Beginner’s Guide to Digital Marketing\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-templates-online-business\\\"\u003e\u003cspan\u003e6 Vital Email Templates Every Online Business Should Have\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/shopify-tools\\\"\u003e\u003cspan\u003eEcommerce Personalization Tools That Help Generate More Sales\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-trends\\\"\u003e\u003cspan\u003e10 Ecommerce Trends You Need to Know\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e \u003c/p\u003e\",\"Direct marketing is communicating with members of the public, who have shown intent to buy from you, directly like email, or post. Learn more about Direct Marketing with Oberlo\",\"Direct marketing is communicating with members of the public, who have shown intent to buy from you, directly like email, or post. Learn more about Direct Marketing with Oberlo\",{\"_258\":286,\"_84\":534,\"_190\":532},\"What is Direct Marketing? What are the Advantages of This Marketing Channel?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":538,\"_258\":259,\"_260\":539,\"_59\":540,\"_84\":541,\"_264\":542,\"_75\":543,\"_275\":546,\"_279\":547,\"_281\":548,\"_283\":548,\"_284\":549,\"_288\":551,\"_293\":552},\"eyJsYXN0X2lkIjo1NTk4ODcwODk2ODYsImxhc3RfdmFsdWUiOjU1OTg4NzA4OTY4Nn0=\",\"gid://shopify/Article/559887089686\",\"cost-per-action\",\"Cost Per Action (CPA)\",\"2024-05-02T13:02:32Z\",{\"_258\":267,\"_6\":544,\"_269\":545,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953961-what-is-cost-per-action-cpa.png?v=1714654952\",\"What is cost per action (CPA)\",[277,278],\"\u003ch2\u003e\\n\u003cb\u003eWhat is \u003c/b\u003e\u003cb\u003eCost Per Action \u003c/b\u003e\u003cb\u003e(CPA)?\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003eCost per action is a digital advertising payment model that allows to charge an advertiser only for a specified action taken by a prospective customer. All actions covered by the model are directly related to some type of conversion, ranging from a newsletter sign up to a link click or sale, and determined by the advertiser.\u003c/p\u003e\u003ch3\u003e\u003cb\u003eCost Per Action vs. Cost Per Acquisition\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003eAlthough the terms are often used interchangeably, cost per acquisition is a financial metric that measures the costs of acquiring one paying customer.\u003c/p\u003e\\n\u003ch3\u003e\\n\u003cb\u003eCost Per Action\u003c/b\u003e\u003cb\u003e(CPA) vs. Cost Per Click (CPC)\u003c/b\u003e\\n\u003c/h3\u003e\\n\u003cp\u003eCost per click (CPC) measures the cost or cost-equivalent for each click on your ads, while cost per action (CPA) allows you to determine the action (views, leads or sales) you want to measure. CPC is designed to drive traffic to a website whereas CPA includes various conversion related actions.\u003c/p\u003e\\n\u003ch3\u003e\\n\u003cb\u003eCost Per Action\u003c/b\u003e\u003cb\u003e (CPA) vs. Cost Per Lead (CPL)\u003c/b\u003e\\n\u003c/h3\u003e\\n\u003cp\u003eCost per lead (often called “online lead generation”) is an online advertising metric used to measure the cost of generating qualified sales leads. CPL helps to identify prospective customers who have shown intent to buy and are close to the end of the buyer journey, whereas cost per action is designed to measure all types of conversion related actions across the entire customer journey.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy is Cost Per Action Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eCost per action allows advertisers to control advertising costs for specific marketing objectives, as it is designed to only charge for the ad when a chosen action is completed. With the payment for the ads being based on completed actions, it also gives the advertiser better control of tracking and maximizing the return on investment across different marketing channels. Tracking CPA ensures that you’re investing in the most cost-effective channels as well as helping to gauge the success of various marketing efforts.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Calculate CPA\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eFormulas used to calculate cost per action can get quite complex, but the most basic approach is: CPA = Total marketing spend (month/year) divided of Total number of customers acquired\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe more touchpoints before a conversion are required, the more expensive is the acquisition. To calculate your CPA for every marketing channel, use figures appropriate to that particular channel (for example, if you spend $100 on Facebook ads and acquire 10 new customers, your CPA would be $10 per new acquisition for Facebook channel only). \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\\n\u003cb\u003eHow to Track \u003c/b\u003e\u003cb\u003eCost Per Action\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSince payment of cost per action campaigns is made on the basis that an action is delivered, tracking is of paramount importance. For eCommerce stores, the most commonly used tracking methods include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eGoogle Analytics:\u003c/b\u003e you can track your conversions by using appropriately \u003ca href=\\\"https://ga-dev-tools.appspot.com/campaign-url-builder/\\\"\u003etagged links\u003c/a\u003e that indicate source, medium and campaign. Depending on the action you want to track, you can also experiment with implementing a tracking code on a “thank you” page (this is most commonly used to get an accurate count of completed downloads or subscriptions).\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eVoucher codes:\u003c/strong\u003e\u003cspan\u003e especially effective with email and social media campaigns, voucher codes that shoppers enter at checkout are an easy-to-implement and cost-effective tactic adopted by the majority of online retailers.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\\n\u003cb\u003eHow to Optimize \u003c/b\u003e\u003cb\u003eCost Per Action\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCost per action becomes really handy once you figure out how much a certain customer’s action is worth to your business. This helps to set the right advertising budget and continue to optimize to lower cost per action costs until you know that your marketing campaigns are paying off. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003ci\u003e\u003cspan\u003eSteps to optimizing your cost per action:\u003c/span\u003e\u003c/i\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eFine-tune your CPC campaigns:\u003c/b\u003e to increase the number of conversions, you have to be absolutely sure your CPC campaigns are targeting the right audience and clearly communicating the value of the offer to entice people to click through to the landing page.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eObsess about CRO:\u003c/strong\u003e\u003cspan\u003e once a new visitor lands on the dedicated page, the first impressions and \u003ca href=\\\"/ecommerce-wiki/user-experience-ux\\\"\u003euser experience\u003c/a\u003e are critical. The messaging on the landing page has to be in tune with the ad text that captured visitor’s attention and all the on-site content and design ought to work in harmony to lead the user to the conversion point. Employ A/B testing to refine the essential elements on your landing page and improve the conversion rate.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSet up multiple goals: \u003c/b\u003e\u003cspan\u003eeven if your ultimate goal is for a user to purchase something, setting up additional goals, such as time spent on the site or the number of pages visited, will give you a better insight into possible issues with your landing page. If users are spending time browsing your website, maybe the landing page isn’t compelling enough or they need more social proof to make a purchase. Whatever it is, you can fix it!\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/10-actionable-tips-from-proven-facebook-marketing-experts\\\"\u003e10 Actionable Tips From Proven Facebook Marketing Experts\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-adwords-tutorial\\\"\u003eAnyone Can Advertise on Google AdWords and Here’s How\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/facebook-ads-tactics\\\"\u003eFacebook Ads Tactics That’ll Skyrocket Sales!\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is the cost per action (CPA)? | Cost per action vs. Cost per acquisition | How to calculate CPA | Read this article to learn more about CPA.\",{\"_258\":286,\"_84\":550,\"_190\":548},\"Cost Per Action (CPA): What Is It and Why It Is Important for Marketing\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":554,\"_258\":259,\"_260\":555,\"_59\":556,\"_84\":557,\"_264\":558,\"_75\":559,\"_275\":562,\"_279\":563,\"_281\":564,\"_283\":564,\"_284\":565,\"_288\":567,\"_293\":568},\"eyJsYXN0X2lkIjo1NTk4ODcxMjI0NTQsImxhc3RfdmFsdWUiOjU1OTg4NzEyMjQ1NH0=\",\"gid://shopify/Article/559887122454\",\"checkout-page\",\"Checkout Page\",\"2024-05-02T13:02:34Z\",{\"_258\":267,\"_6\":560,\"_269\":561,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898650-what-is-a-checkout-page.png?v=1714654954\",\"What is a Checkout Page?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Checkout Page?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA checkout page refers to any website pages shown to a customer during the step-by-step checkout process. Think of a checkout pages as the online version of a physical checkout counter in a grocery store. Checkout pages come in two types: one-page checkout and multi-page checkout.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eOne-page Checkout vs. Multi-page Checkout\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eAs the terms imply, checkout pages can be built as single-page solutions or as step-by-step processes. Although the one-page checkout option is rapidly gaining popularity among online retailers due to its perceived benefits of being faster and more user-friendly, various case studies demonstrate that conversion-optimized multi-page checkouts can be just as effective, and both options have their pros and cons.\u003c/p\u003e\u003ch3\u003e\u003cb\u003e\u003ci\u003eOne-page Checkout: Pros\u003c/i\u003e\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt’s faster. \u003c/b\u003e\u003cspan\u003eDespite the fact that the number of form fields to fill are pretty much the same between single-page and multi-page checkouts, it still takes less time to complete the one-page checkout because shoppers don’t need to wait for the multiple pages to load or refresh. \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt has a psychological advantage.\u003c/b\u003e\u003cspan\u003e The fact that shoppers can see exactly how far along the process they are, and how many steps they have left to complete the purchase, acts like a psychological booster motivating them to finish what they’ve started. \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt has no navigation. \u003c/b\u003e\u003cspan\u003eSince all the fields are on the same page, customers don’t need to navigate between different pages if they want to edit or change the information they entered. It eliminates the possibility of shoppers dropping off if they need to re-enter the same details every time they go back in the browser. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003e\u003ci\u003eOne-page Checkout: Cons\u003c/i\u003e\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt’s a nightmare to design. \u003c/b\u003e\u003cspan\u003eDepending on the amount of data you’re trying to gather, one-page checkouts can be difficult to design. When crammed into one page, the number of forms and fields required can cause the layout design to look cluttered and off-putting, which would most likely lead to \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/shopping-cart\\\"\u003e\u003cspan\u003eshopping cart abandonment\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003e\u003ci\u003eMulti-page Checkout: Pros\u003c/i\u003e\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt’s easier to collect data. \u003c/b\u003e\u003cspan\u003eBy splitting your checkout process into multiple steps, you have a better chance of capturing customer data even if they abandon the cart at a later stage. For example, if you ask for the shopper’s email address first and they end up abandoning the checkout after proceeding to the next step, you still have their email address and can follow up with an \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/abandoned-cart-emails\\\"\u003e\u003cspan\u003eabandoned cart email\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt’s simpler to design. \u003c/b\u003e\u003cspan\u003eWhen you spread the forms across several pages, it is much easier to create a clean, minimalistic layout design, which also gives the impression of the checkout process being simple and fast. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003e\u003ci\u003eMulti-page Checkout: Cons\u003c/i\u003e\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt can be disheartening. \u003c/b\u003e\u003cspan\u003eIf the checkout progress bar is showing four more steps to go until the order is complete after the initial page, a customer might find the process too long and tedious and abandon the purchase altogether.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eChoosing between the two options will ultimately boil down to the type of business you’re running and your customer base. The important thing to remember is that selecting the type of checkout page is just the first step, next, you should look at ways to optimize it.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1604489891-shopify-checkout-2-1024x611.jpg\\\" alt=\\\"shopify checkout page\\\" width=\\\"1024\\\" height=\\\"611\\\"\u003eTips to Optimize an Online Checkout Page \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBefore you start changing anything on your checkout page, ensure you have a crisp understanding of all the problems that need to be addressed. Going at this blindly might do more harm than good. Make use of Google Analytics, heatmaps, and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/ab-testing\\\"\u003e\u003cspan\u003eA/B testing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to determine friction and drop off points and implement relevant changes to improve the \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003econversion rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. A few reliable tactics you can try are: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eSkip the mandatory registration\u003c/b\u003e\u003cspan\u003e: more and more users expect to have the guest checkout option when they proceed to the payment page. You can also offer the option to log in via social networks or Gmail or ask them to register on the thank you page if you’re trying to collect more data, but be sure to remove the registration barrier in order to \u003c/span\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003e\u003cspan\u003eincrease conversions\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOffer multiple payment options: \u003c/b\u003e\u003cspan\u003eit’s a good idea to display payment options as early as the product page to avoid causing frustration later in the process. The wider the choice of different \u003ca href=\\\"/ecommerce-wiki/payment-gateway\\\"\u003epayment gateways\u003c/a\u003e, the more chances are your customers will complete their journey. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHelp buyers feel more secure: \u003c/b\u003e\u003cspan\u003eminimizing the risks involved in online shopping will help your customers follow through with their purchase. You can do that by adding security seals and payment logos as well as offering a money-back guarantee or free refunds option. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAdd ‘save the cart’ option: \u003c/b\u003e\u003cspan\u003eallowing your buyers to quickly and easily resume their shopping by providing the option to save the entire cart or individual product for later will increase the odds of them returning to complete the order. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOffer free or cheap shipping: \u003c/b\u003e\u003cspan\u003ewith the Amazon Prime on the rise, buyers are starting to take free shipping for granted. High shipping charges is one of the main cart abandonment reasons, so it’s best to be transparent about them upfront or, when possible, remove the additional fees entirely.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eHow to Use Google Analytics for Your Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-subscribers\\\"\u003e10 Ways to Turn Site Visitors Into Email Subscribers for Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/abandoned-carts\\\"\u003eHow to Recover Abandoned Carts Easily\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Checkout Page? | One-page Checkout vs. Multi-page Checkout | One-page Checkout: Pros | One-page Checkout: Cons | Read more...\",{\"_258\":286,\"_84\":566,\"_190\":564},\"Checkout Page: What Are They and Tips to Optimize Them | Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":570,\"_258\":259,\"_260\":571,\"_59\":572,\"_84\":573,\"_264\":574,\"_75\":575,\"_275\":578,\"_279\":579,\"_281\":580,\"_283\":580,\"_284\":581,\"_288\":583,\"_293\":584},\"eyJsYXN0X2lkIjo1NTk4ODcxNTUyMjIsImxhc3RfdmFsdWUiOjU1OTg4NzE1NTIyMn0=\",\"gid://shopify/Article/559887155222\",\"merchandise\",\"Merchandise\",\"2024-05-02T13:02:36Z\",{\"_258\":267,\"_6\":576,\"_269\":577,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-is-merchandise.png?v=1714654956\",\"What is Merchandise?\",[277,278],\"\u003ch2\u003e\u003cstrong\u003eWhat Is Merchandise?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eMerchandise is the word used to describe a product that can be bought or sold. All products stocked in a supermarket are merchandise that was bought from a manufacturer, to be sold to a customer. Merchandise can be considered as any type of good for sale, for example, clothes in a clothes shop is merchandise, raw materials from a manufacturer are merchandise and computers in an electronics store are merchandise.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eWhat Are the Types of Merchandise?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eFrom a retailer’s point of view, there are \u003c/span\u003e\u003ca href=\\\"https://www.dotactiv.com/blog/types-of-merchandise\\\"\u003e\u003cspan\u003efour main types\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of merchandise that can be sold to customers. These are:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eConvenience Merchandise: \u003c/b\u003eThis merchandise is anything that a customer cannot live without. Convenience merchandise or goods can be bought with relative ease anywhere and mainly includes food and hygiene products.\u003cbr\u003e\u003cbr\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eImpulse Merchandise: \u003c/b\u003eOn the other side of convenience merchandise is \u003ca href=\\\"/blog/impulse-buy-products\\\"\u003eimpulse merchandise\u003c/a\u003e which is the add-on products customers may buy in a supermarket, also known as luxury items. These include sweets, magazines, and newspapers.\u003cbr\u003e\u003cbr\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eHousehold and Electronic Merchandise\u003c/strong\u003e:\u003cspan\u003e This merchandise is a high intent, high price product that needs more thought and research before buying. Because of this, retailers sell less stock so they must mark up these products price-wise to make a profit. These items include \u003ca href=\\\"/dropship/furniture\\\"\u003efurniture\u003c/a\u003e, smartphones, and electrical equipment.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eSpecialized Merchandise\u003c/strong\u003e: \u003cspan\u003eSpecialized merchandise refers to niche products that people buy less often but spend more money on. These would include holidays or rare cars.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhy Is Merchandise Important?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eMerchandise makes the world go around in today’s commercial society and is needed for our economy to be successful. Without it, we cannot survive. Everything, no matter if it is a need or a want, can be classed as merchandise. The main aim of most companies is to make a profit by selling merchandise to the end-user. This is why merchandise is so important – all our needs and wants are met through purchasing or selling merchandise.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhat Is Merchandise Inventory?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA merchandise inventory is \u003c/span\u003e\u003ca href=\\\"https://www.myaccountingcourse.com/accounting-dictionary/merchandise-inventory\\\"\u003e\u003cspan\u003ea list of all the goods that a company buys\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e with the plan to resell it to customers at a higher price. Retailers, wholesalers, and distributors purchase goods from manufacturers with the aim to resell these goods to paying customers through physical or online means. Both wholesalers and distributors aim to sell their merchandise inventory to a retailer, and the retailer aims to sell their merchandise inventory to their customers.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhat Is Wholesale Merchandise?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWholesale merchandise is the sale of products to a retailer and not to an end-user or customer. Wholesale merchandise is sold by a supplier or distributor and never by a retailer as it refers to the sale of goods to anyone but the intended end-user. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhat Is Branded Merchandise?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBranding merchandise is any product that contains a logo or a brand on it. It is mostly used as promotional material at conventions but the likes of Google, YouTube, and other large brands sell their branded merchandise in their offices and online. Companies use this activity as a branding exercise and as a way to make more money for the business. Design Hill even quoted a study which reported that \u003c/span\u003e\u003ca href=\\\"https://www.designhill.com/design-blog/reasons-why-promotional-products-are-crucial-for-any-business/\\\"\u003e\u003cspan\u003e85% of people do business with the advertiser after receiving a promotional item\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This is a huge benefit to companies if they can do it right.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eWhat Is the Importance of Branded Merchandise?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eMusicians have utilized branded merchandise in the best ways for decades. Being creative helps companies get noticed so it is not only about putting a logo on a t-shirt but it is the type of merchandise that is sold. But why is branded merchandise important?\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eAn extra revenue stream: \u003c/b\u003e\u003cspan\u003eFor a company selling branded merchandise as well as their normal offering, it can be a great added source of revenue. It is important to ensure that the merchandise is low cost to manufacture for this strategy to be effective\u003c/span\u003e \u003cspan\u003eas the company should have a good profit margin.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBrand Recognition: \u003c/b\u003e\u003cspan\u003eWith people walking around town in a company branded t-shirt or carrying a bag with logo sticker on it, the general public is exposed more to branding. People are more inclined to remember the name or logo of something they saw in public, and google them later. Design Hill also quoted that \u003c/span\u003e\u003ca href=\\\"https://www.designhill.com/design-blog/reasons-why-promotional-products-are-crucial-for-any-business/\\\"\u003e\u003cspan\u003e89% of consumers can recall a brand two years after receiving a promotional product\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e so branded merchandise is a great long-term brand exercise.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/how-to-market-a-product#How_to_Market_Your_Product_Online_Special_Offers_and_Freebies\\\"\u003e\u003cb\u003eCustomer Engagement\u003c/b\u003e\u003c/a\u003e\u003cb\u003e: \u003c/b\u003e\u003cspan\u003eWith people possessing branded material they have the ability to engage with the company and its audience more. People take pictures of themselves with their branded merchandise at events, traveling to places, and in other cool settings which help to identify the company’s brand proposition. Businesses can profit from building a community around their branded merchandise, motivating their audience to snap pictures of themselves with their swag to help sell more to similar people. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1604489968-snip201810182.png\\\" alt=\\\"Branded Merchandise\\\" width=\\\"705\\\" height=\\\"333\\\"\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eWhat Is the Difference Between Merchandise and Merchandising?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eMerchandise is a product that can be bought or sold to another. It is a simple concept that runs our economy today. On the other hand \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/merchandising\\\"\u003e\u003cspan\u003emerchandising\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e is the promotion of a product to influence a customer to buy it. This could include creating an enticing display, promoting a special offer, or hosting a giveaway. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAn example of how these two concepts work together is: a supermarket has ordered in a new shampoo (merchandise) that needs to compete with the other hair products on the store shelves. The supermarket devises a cool display case and a special offer (merchandising) to promote the product over all the others in the store. This is a simple example that is used extensively across the world today.\u003c/span\u003e\u003cspan\u003e\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/podcast/value-facebook-ads\\\"\u003e\u003cspan\u003eThe Value of Facebook Ads and Target Markets for Ecommerce\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/new-products\\\"\u003e\u003cspan\u003e15 Best New Products You Probably Don’t Know About\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/easiest-ways-find-winning-products\\\"\u003e\u003cspan\u003e8 Ways to Find Winning Products Every Time\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/statistics/average-ecommerce-conversion-rate\\\"\u003e\u003cspan\u003eAverage Ecommerce Conversion Rate to Optimize Your Site For\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Discover what merchandise is and why it is important to businesses today | Branded Merchandise | Wholesale Merchandise | Wholesale Merchandise | Impulse Merchandise.\",{\"_258\":286,\"_84\":582,\"_190\":580},\"What Is Merchandise? How Can Branded Merchandise Help Your Company?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":586,\"_258\":259,\"_260\":587,\"_59\":588,\"_84\":589,\"_264\":590,\"_75\":591,\"_275\":594,\"_279\":595,\"_281\":596,\"_283\":596,\"_284\":597,\"_288\":599,\"_293\":600},\"eyJsYXN0X2lkIjo1NTk4ODcxODc5OTAsImxhc3RfdmFsdWUiOjU1OTg4NzE4Nzk5MH0=\",\"gid://shopify/Article/559887187990\",\"niche-market\",\"Niche Market\",\"2024-05-02T13:02:37Z\",{\"_258\":267,\"_6\":592,\"_269\":593,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953961-what-is-a-niche-market.png?v=1714654958\",\"What is a Niche Market?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is a Niche Market?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA niche market is a small part of a larger market that has its own specific needs, which are different from the larger market in some way. For example, the market for computers is huge but there are niche markets for student computers and gaming computers, which include different types of system requirements depending on the needs of the customer.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003eWhat Makes a Niche?\u003c/h2\u003e\\n\u003cp\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603954777-acquisition-based-niches.jpg\\\" alt=\\\"Acquisition-Based Niches\\\" width=\\\"880\\\" height=\\\"450\\\"\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFinding a niche can \u003ca href=\\\"/ecommerce-wiki/market-research\\\"\u003einvolve a lot of research\u003c/a\u003e especially if no one has broken into the market before. But sometimes it can be easy to find a niche. Take, for instance, a broad product like jackets. The target market for jackets is literally every human on earth, but as you start to name types of jackets niches begin to appear. For example, vintage women’s trenchcoats are a niche market as it would cost more than average for something vintage. The product is limited to women, and trenchcoats are a style of jacket that only a selection of women would enjoy. Therefore the niche market for vintage women’s trenchcoats are women, who like trenchcoats and are willing to pay more for their jacket. This niche market is a lot smaller than the original market for jackets.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eNiches can become even smaller. \u003ca href=\\\"https://pixiefaire.com\\\"\u003ePixie Faire\u003c/a\u003e provides designs and support for people to create their own dolls clothes, while also providing a marketplace to sell these things also. This business is remarkably niche as it speaks to people who are collectors of dolls, and those who are interested in making their own doll clothes. This niche market can make it hard to find your community but they are doing a great job!\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhat is clear from these two examples is that a niche is very direct and small so it can be hard to make a profit. One way to combat this is to spend time getting to know your audience and investing money into reaching them on every platform possible. Selling to a niche market can be challenging but it is not impossible.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy Do We Define Niche Markets?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAs mentioned above, knowing your audience is very important if you want to succeed in selling in a niche market and defining it is how you do this. Research is needed regardless of the size of the market and there are other steps to follow.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eBefore you choose what to sell you should \u003ca href=\\\"/ebooks/get-sales-dropshipping/competitor-analysis\\\"\u003elook into competitors\u003c/a\u003e and find out how they are communicating with their market. Maybe the market is oversaturated and demand is low, making it hard for you to sell into it.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOnce you put your niche product on the market, reach out to people who fit into your niche and invite them to test the offering themselves. Gather feedback that could help with understanding your market better and take criticism positively.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eExplore \u003ca href=\\\"/blog/find-perfect-dropshipping-products\\\"\u003euser testing and research\u003c/a\u003e consistently so that your niche offering is always fit for its market. This also ensures that you can move into new markets or offer more to your existing market before your competitors.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2 class=\\\"p1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003eBenefits of Niche Markets\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBeing part of a niche market has a lot of upsides so it is no wonder businesses are always trying to identify a USP that places them within a niche. Some of these benefits include\u003c/span\u003e\u003c/p\u003e\\n\u003cul class=\\\"ul1\\\"\u003e\\n \u003cli class=\\\"li2\\\"\u003e\\n\u003cspan class=\\\"s3\\\"\u003e\u003cspan class=\\\"s3\\\"\u003e\u003cstrong\u003eCompetition\u003c/strong\u003e: \u003c/span\u003e\u003c/span\u003eIf your business falls within a niche market there will be less competition. This is because as businesses become more specialized it is less likely that other businesses will be direct competitors to them.\u003c/li\u003e\\n \u003cli class=\\\"li2\\\"\u003e\\n\u003cspan class=\\\"s3\\\"\u003e\u003cspan class=\\\"s3\\\"\u003e\u003cstrong\u003eFocus\u003c/strong\u003e: \u003c/span\u003e\u003c/span\u003eBeing part of a niche market means that you can focus on making your niche offering perfect for a select group of people. On the flip side, targeting a larger audience means that you need to tailor what you sell to many different audiences that differ extensively in demographics and psychographics.\u003c/li\u003e\\n \u003cli class=\\\"li2\\\"\u003e\u003cspan class=\\\"s3\\\"\u003e\u003cstrong\u003eExpertise\u003c/strong\u003e: \u003cspan\u003eBusinesses that offers services to niche markets will be more experienced in their offering, really understanding their audience and how their business offers value to them. This expertise makes it hard to appeal to audiences outside your niche but will make it easier to grow brand loyalty over a short period of time.\u003c/span\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat is Niche Marketing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603966821-digital-marketing-channels.jpg\\\" alt=\\\"Digital Marketing Channels\\\" width=\\\"1024\\\" height=\\\"733\\\"\u003e\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eNiche marketing is \u003ca href=\\\"/ecommerce-wiki/target-market\\\"\u003ecreating collateral\u003c/a\u003e around your product that is specific to a niche. For instance, you may run a sale on your travel site for honeymoons to Latin America, but keep all other offerings the same price. This means that your marketing will be revolved around couples searching for honeymoon destinations on a budget. Considering a travel website can offer travel packages for single people, couples, and families, this marketing campaign would be very niche compared to previous ones.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBefore choosing to run a marketing campaign it is important to gauge how successful it could be. This means looking at the possible size of the audience you want to target and deciding if it is too small or a \u003ca href=\\\"https://www.shopify.com/encyclopedia/niche-market\\\"\u003egood size to target\u003c/a\u003e. Niche marketing can be tricky but if you know your audience and personalize your content, it shouldn’t be hard to engage with the right people successfully.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/podcast/email-marketing\\\"\u003eHow Email Marketing Helped Build a 7-Figure Dropshipping Store\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/videos/top-niches-2020\\\"\u003eTop Niches in 2020 and Product Recommendations\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/blog/dropshipping-niches\\\"\u003eDropshipping Niches That Are Steady, Not Trendy\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-choose-a-niche\\\"\u003e\u003cspan\u003eHow to Choose a Niche for Your Dropshipping Store\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/biggest-dropshipping-niches-markets\\\"\u003e\u003cspan\u003eHere Are the Biggest Dropshipping Niches in the Biggest Markets\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"A niche market is a small part of a larger market that has its own specific wants and needs, which are different from the larger market in some way.\",{\"_258\":286,\"_84\":598,\"_190\":596},\"What is a Niche Market | Niche Market Definition - Oberlo\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":602,\"_258\":259,\"_260\":603,\"_59\":604,\"_84\":605,\"_264\":606,\"_75\":607,\"_275\":610,\"_279\":611,\"_281\":612,\"_283\":612,\"_284\":613,\"_288\":615,\"_293\":616},\"eyJsYXN0X2lkIjo1NTk4ODcyMjA3NTgsImxhc3RfdmFsdWUiOjU1OTg4NzIyMDc1OH0=\",\"gid://shopify/Article/559887220758\",\"user-interface-ui\",\"User Interface (UI)\",\"2024-05-02T13:02:39Z\",{\"_258\":267,\"_6\":608,\"_269\":609,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898633-what-is-user-interface.png?v=1714654959\",\"What is User Interface?\",[277,278],\"\u003ch2\u003e\u003cb\u003eThe Importance of User Interface Design (UI) in eCommerce \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe ultimate goal of a good UI is to make the user’s interaction as simple, intuitive, and efficient as possible. In eCommerce, intuitive interfaces and appealing design are an invaluable part of the user experience and can dramatically impact the performance of a website and ultimately lead to higher, or weaker sales. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAn effective UI draws on interface elements that users have become familiar with because they maximize task completion, efficiency, and satisfaction. When designing your online shop, you should pay particular attention to the following interface elements:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eInput controls:\u003c/b\u003e\u003cspan\u003e checkboxes, radio buttons, dropdown lists, dropdown buttons, toggles, and text fields.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eNavigational components:\u003c/b\u003e\u003cspan\u003e search field, breadcrumbs, pagination, sliders, and image carousels.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eInformational components:\u003c/b\u003e\u003cspan\u003e notifications, progress bars, tooltips, message boxes, and modal windows (pop-ups).\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eSmart implementation of common UI patterns will help you to create a pleasant shopping experience, guiding your customers through the site and helping them find what they need without any inconveniences. Making sure that consumers can browse, search, select and add products to their shopping cart in a seamless way will reduce friction and lower your site’s \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/bounce-rate\\\"\u003e\u003cspan\u003ebounce rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBacked by a sturdy UX design, a sleek, well-designed and easy-to-navigate online store has significantly better chances at enticing shoppers to spend more time browsing around, achieving a higher \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/click-through-rate-ctr\\\"\u003e\u003cspan\u003eclick-through rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and leading to improved \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003econversion rates\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. According to \u003c/span\u003e\u003ca href=\\\"https://wwwimages.adobe.com/content/dam/Adobe/en/max/2015/pdfs/state-of-content-oct.pdf\\\"\u003e\u003cspan\u003eAdobe\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, “38% of people will stop engaging with a website if the content/layout is unattractive”.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eStages of the UI Design Process\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eRemember that a good UI stems from understanding your customer and their needs so that all the design elements could be tuned to deliver on shopper expectations. The main processes of UI design include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eBusiness requirement. \u003c/b\u003e\u003cspan\u003eThe first step in the UI design process is to assemble a list of key functionalities required for your online store. Establishing a clear vision of how you want the website to operate and what capabilities are essential to meet the potential needs of your customers will directly relate to all other decisions you have to make along the way. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eUser research. \u003c/b\u003e\u003cspan\u003eAt this stage, it is important to analyze and understand the habits, preferences, and needs of your potential customers. By applying these insights to your UI design, you will be able to structure the website’s information and choose the feel and look of the interface that best accommodates the expectations of your target audience. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/ecommerce-wiki/information-architecture\\\"\u003e\u003cb\u003eInformation architecture\u003c/b\u003e\u003c/a\u003e\u003cb\u003e. \u003c/b\u003e\u003cspan\u003eOne of the most important parts of the UI design process is establishing a clear, top-down information structure that helps shoppers to find what they’re after in a matter of seconds. Poor information structure causes confusion and frustration and leads to increased bounce rates. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWireframe design. \u003c/b\u003e\u003cspan\u003eAs a quick and cheap way to specify the details and navigational flow of a website, wireframes are an indispensable tool in the UI design process. They can be helpful with identifying friction points in the organizational system of the website and visualizing all the steps involved in the shopping journey. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003ePrototype design. \u003c/b\u003e\u003cspan\u003eThe main objective of a prototype is to simulate the interaction between a user and the interface in a realistic way, bringing the full product experience to life. Prototypes are often used for usability testing to gather early feedback and avoid costly changes later in the process. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/ecommerce-wiki/ab-testing\\\"\u003e\u003cb\u003eA/B testing\u003c/b\u003e\u003c/a\u003e\u003cb\u003e. \u003c/b\u003e\u003cspan\u003eOnce you launch your website, implement a robust A/B testing strategy to continue tweaking and improving the shopping experience over time. It’s very unlikely that you’ll get all the elements of the site right from the very start but active experimentation and analysis will help you elevate the user experience and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003e\u003cspan\u003eoptimize your revenue\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eUI Best Practices for eCommerce\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough every eCommerce website is unique and targets a particular group of people with very specific needs, there are several UI design elements that every online store must-have. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eA well-positioned search bar.\u003c/b\u003e\u003cspan\u003e Shoppers who use site search exhibit a much higher intent to purchase and are more likely to follow through with the buying process. Placing the search bar in a prominent position on a website and using contrasting colors to help it stand out, will make it easier to both capture the attention of people who are purposefully looking for something and streamline the experience of those who are just browsing. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eEye-catching \u003c/b\u003e\u003ca href=\\\"/ecommerce-wiki/call-action-cta\\\"\u003e\u003cb\u003ecall-to-action (CTA)\u003c/b\u003e\u003c/a\u003e\u003cb\u003e buttons.\u003c/b\u003e\u003cspan\u003e An effective CTA can have a tremendous impact on conversion rates, as it is the element that triggers shoppers to take immediate action and react to the information displayed on a page. A good CTA is attractive and stands out from the rest of the site content. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eUser-friendly navigation. \u003c/b\u003e\u003cspan\u003eShort, logical paths, familiar category names and easy-to-grasp site hierarchy leads to lower bounce rates and increased conversion rates. Simple menu structure is one of the vital parts of a positive customer experience and remains a top priority in the \u003c/span\u003e\u003ca href=\\\"/blog/what-is-ecommerce\\\"\u003e\u003cspan\u003eeCommerce\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e industry. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBreadcrumbs.\u003c/b\u003e\u003cspan\u003e Breadcrumbs are a form of site navigation that simplifies the user experience by showing them where they are on the site and making it easy to move between categories, products, and informational pages. Adding breadcrumb navigation will also help you squeeze some \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/seo\\\"\u003e\u003cspan\u003eSEO\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e juice, as it ensures search engines find and understand all pages that need to be crawled. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSmooth checkout.\u003c/b\u003e \u003ca href=\\\"/ecommerce-wiki/checkout-page\\\"\u003e\u003cspan\u003eCheckout page\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e is probably the most important part of your site. Focus on reducing the steps in a checkout process to a bare minimum and employ foolproof optimization strategies, such as adding the right mix of \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/payment-gateway\\\"\u003e\u003cspan\u003epayment gateways\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and offering free shipping, to maximize your profits. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eThe F-pattern. \u003c/b\u003e\u003cspan\u003eStudies have shown that people almost always read and browse pages in an F-shaped pattern, viewing the left side of the screen far more often than the right. Placing the most important information on the left side of your homepage and product pages will result in increased levels of engagement.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/create-great-product-page\\\"\u003eHow to Create a Great Product Page\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-choose-ecommerce-store-theme\\\"\u003eShopify Themes: How to Pick the Best Shopify Theme for Your eCommerce Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhat is User Interface (UI)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eUser Interface (UI) is the visual part of a software application or a hardware device that determines how a user interacts with an application or a website and how information is displayed on the screen. UI encompasses the concepts of visual design, interaction design, and information infrastructure and focuses on enhancing usability and the \u003ca href=\\\"/ecommerce-wiki/user-experience-ux\\\"\u003euser experience\u003c/a\u003e.\u003c/p\u003e\",\"What is User Interface (UI)? | Stages of the UI Design Process | Read this article to learn more about the Importance of User Interface Design (UI).\",{\"_258\":286,\"_84\":614,\"_190\":612},\"What is User Interface (UI)? - Best Practices for eCommerce | Oberlo\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":618,\"_258\":259,\"_260\":619,\"_59\":620,\"_84\":621,\"_264\":622,\"_75\":623,\"_275\":626,\"_279\":627,\"_281\":628,\"_283\":628,\"_284\":629,\"_288\":631,\"_293\":632},\"eyJsYXN0X2lkIjo1NTk4ODcyNTM1MjYsImxhc3RfdmFsdWUiOjU1OTg4NzI1MzUyNn0=\",\"gid://shopify/Article/559887253526\",\"google-tag-manager\",\"Google Tag Manager (GTM)\",\"2024-05-02T13:02:40Z\",{\"_258\":267,\"_6\":624,\"_269\":625,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898643-what-is-google-tag-manager.png?v=1714654961\",\"What is Google Tag Manager?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Google Tag Manager?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eGoogle tag manager (GTM) is a free tag management platform that enables marketers to deploy and track marketing data by easily adding code snippets to their website or app. It allows marketers to track conversions, website analytics, retargeting, and more without the intervention of webmasters.\u003c/p\u003e\u003ch3\u003e\u003cb\u003eHow do Google Tag Manager (GTM) and Google Analytics (GA) Work Together?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003eGoogle tag manager was not built to replace Google analytics. Instead, the two work harmoniously to give marketers an easy-to-manage, flexible system of tracking various analytics. Google tag manager enables users to deploy tracking code on chosen pages and Google analytics uses that code to track various data, including conversions. GTM is a game-changer tool in a way that it provided marketing professionals with the freedom to add, edit, or remove measurement tags without any hard coding, making the process much simpler and faster.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eKey Benefits of using Google Tag Manager\u003c/b\u003e\u003c/h2\u003e\\n\u003ch3\u003e\u003cb\u003e#1 GTM eliminates the hassle of hard coding tags\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003ePrior to Google tag manager, every time a tag needed to be added, edited or removed, a web developer had to be involved to hard code the website. Now, the same code snippet (GTM container code) that can contain various marketing and analytics tags is placed on all pages of the website. It takes a few clicks to edit, remove or add new tags and it can all be done through a user-friendly GTM interface.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e#2 GTM enables businesses to move faster \u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eOver-dependence on web developers is an issue for many businesses with limited resources. It stalls the growth and experimentation that is vital in the fast-paced digital world that we live in. A marketer can’t afford to wait around for weeks for the IT team to free up some time and deploy a bunch of tags. Google tag manager is a cost-effective and reliable solution that helps businesses adapt to changing marketing conditions and move from one experiment to another much faster and without any additional costs. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e#3 GTM makes advanced tracking a breeze \u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eGoogle tag manager allows users to perform the same task that used to take days or even weeks in a matter of minutes. It comes with an array of built-in tags and functions that enable users to implement advanced tracking in a short window of time. For example, instead of having to add an event tracking code to every “Submit” button on the site, a user can turn to GTM to create one tag with a certain set of rules to track clicks on all buttons across the site. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e#4 GTM can boost the website speed\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eGoogle tag manager tags are deployed asynchronously, which means a slow loading tag wouldn’t prevent other tags from being fired. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e#5 GTM centralizes tag management\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eBy giving you one place to manage all the marketing and analytics tags used on your site, GTM significantly improves the efficiency of tag management and simplifies the process of adding, editing, and removing tags by eliminating the repetition and reducing the chances of errors. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Set Up GTM?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eIf you use \u003ca href=\\\"/blog/seo-tools\\\"\u003eGoogle Analytics\u003c/a\u003e (GA), getting started with Google Tag Manager won’t be that difficult. Here’s a basic step-by-step guide to setting it up on your website. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eStep #1\u003c/b\u003e\u003cspan\u003e: Create a \u003c/span\u003e\u003cspan\u003eGoogle Tag Manager\u003c/span\u003e\u003cspan\u003e account\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eStep #2\u003c/b\u003e\u003cspan\u003e: Add the container code to every page on your site \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eStep #3\u003c/b\u003e\u003cspan\u003e: Create your first tag (typically, it’s the GA code snippet)\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eStep #4:\u003c/b\u003e\u003cspan\u003e Enable the Preview Mode to see if the tag is firing\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eStep #5: \u003c/b\u003e\u003cspan\u003eHead over to the GA real-time report to ensure visits are being recorded\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eStep #6:\u003c/b\u003e\u003cspan\u003e Publish the container\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eHow to Use Google Analytics for Your Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/seo-tools\\\"\u003eGoogle Analytics Shopify: How to Get Started\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-adwords-tutorial\\\"\u003eAnyone Can Advertise on Google AdWords and Here’s How\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"How do Google tag manager (GTM) and Google analytics (GA) work together? | How to set up GTM? | Read this article to learn more about GTM.\",{\"_258\":286,\"_84\":630,\"_190\":628},\"What is Google Tag Manager (GTM)? - Key benefits of using GTM\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":634,\"_258\":259,\"_260\":635,\"_59\":636,\"_84\":637,\"_264\":638,\"_75\":639,\"_275\":642,\"_279\":643,\"_281\":644,\"_283\":644,\"_284\":645,\"_288\":647,\"_293\":648},\"eyJsYXN0X2lkIjo1NTk4ODcyODYyOTQsImxhc3RfdmFsdWUiOjU1OTg4NzI4NjI5NH0=\",\"gid://shopify/Article/559887286294\",\"call-action-cta\",\"Call-To-Action (CTA)\",\"2024-05-02T13:02:42Z\",{\"_258\":267,\"_6\":640,\"_269\":641,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898650-what-is-a-call-to-action.png?v=1714654963\",\"What is a Call to Action?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Call-To-Action (CTA)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA call-to-action, or CTA, is a marketing term referring to a piece of content, such as an image, a button, or a line of text, intended to prompt users to perform a specific action. It typically takes the form of an instruction or directive using action verbs (“buy”, “sign up”, “register”, “follow”, etc.) and leading the consumer to the next step of a sales funnel or process.\u003c/p\u003e\u003cp\u003e\u003cspan\u003eCalls to action are most commonly used in sales and marketing to solicit the desired action from leads and customers. For example, a CTA can be used to grow your email list (“Sign up to our newsletter”), promote a special offer (“Claim your voucher code”), or a piece of content (“Download our new eBook”). \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy is a CTA important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eStrategic calls-to-action (CTAs) can help you guide your visitors through the buying journey and directly impact your \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003econversion rates\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. A really effective CTA will do wonders at drawing visitors’ attention, piquing their interest, and eloquently guiding them through the signup process. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe human mind is so accustomed to how the online world works that they expect to see a call-to-action in a prominent position on your site or a landing page. That, however, doesn’t mean they’re prepared to follow your instruction and convert. Crafting effective CTAs is an art in itself, but can be mastered if you follow the proven techniques. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eA Checklist to Creating an Effective Call-To-Action \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA tantalizing CTA is a sum of various different elements. To get it right, you need to take a step-by-step approach and ensure each and every one of them is working as it should be. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/ecommerce-website-design-examples\\\"\u003e\u003cb\u003eAttention-grabbing design\u003c/b\u003e\u003c/a\u003e\u003cb\u003e. \u003c/b\u003e\u003cspan\u003eOne thing you should remember about CTAs is that they need to stand out and make an impact. Don’t follow the standard design rules when you’re crafting a CTA button or image – it shouldn’t blend in with the rest of your page design. You can combine the elements that match your style, such as fonts and brand colors but make sure the final CTA really pops from the rest of the page. A highly contrasting design is key to an eye-catching call-to-action.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAction-focused copy. \u003c/b\u003e\u003cspan\u003eFinding the right balance between simple, clear instruction and enticing, jargon-free copy that utilizes action words like “download”, “register” or “start” can require quite a bit of iteration and creativity. Browse leading brand websites to see what kind of actionable copy they’re using and let your inner copywriter emerge.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eA sense of urgency. \u003c/b\u003eAdding the element of urgency is one of the best ways to keep your visitors focused on the action you want them to take. Is it a limited offer? Is the promotion expiring soon? Only a few items left in stock? Let your customers know to prompt them to act \u003ci\u003enow\u003c/i\u003e rather than put it off for later.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eA clear promise. \u003c/b\u003e\u003cspan\u003ePeople hate being deceived or tricked into clicking onto something that has no value to them. Keep your CTAs informative and ensure the copy explicitly tells your customers what they should expect in exchange for their click. Will they be signed up to your newsletter or taken to a new page to complete the order? Focus on communicating the benefits of clicking on your CTA.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cb\u003eA logical path to conversion. \u003c/b\u003e\u003cspan\u003eMap out your path to conversion to ensure a smooth and logical flow that will make your CTAs more effective. It’s important to align your CTAs with specific stages in the sales cycle in order to make relevant offers. For example, you don’t want to be promoting a full-year premier delivery subscription to a new visitor because it’s too early in their buying journey. CTAs that focus on later-stage conversions can highly benefit from a dedicated landing page that keeps distractions to a minimum, in such a way \u003c/span\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003e\u003cspan\u003eincreasing the chances of conversions\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e20 Tricks for Optimizing Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003eHow to Get More Sales With Ecommerce Conversion Optimization\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"A call-to-action, or CTA, is a marketing term referring to a piece of content or such as an image intended to prompt users to perform a specific action.\",{\"_258\":286,\"_84\":646,\"_190\":644},\"What is Call-To-Action (CTA)? - Why is a CTA important? | Read More\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":650,\"_258\":259,\"_260\":651,\"_59\":652,\"_84\":653,\"_264\":654,\"_75\":655,\"_275\":658,\"_279\":659,\"_281\":660,\"_283\":661,\"_284\":662,\"_288\":664,\"_293\":665},\"eyJsYXN0X2lkIjo1NTk4ODczMTkwNjIsImxhc3RfdmFsdWUiOjU1OTg4NzMxOTA2Mn0=\",\"gid://shopify/Article/559887319062\",\"resource-management\",\"Resource Management\",\"2024-05-02T13:02:44Z\",{\"_258\":267,\"_6\":656,\"_269\":657,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898639-what-is-resource-management.png?v=1714654964\",\"What is Resource Management?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is a Resource?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA resource is something that can be sold for profit or used as a raw material to create something that can be sold for profit. For example, coffee beans are resources that can be sold whole for a profit or ground to become a different product to be sold, again for profit. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhat is Resource Management?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eResource management is planning, organizing, and allocating the resources important to your business to ensure maximum efficiency. These resources include both tangible and intangible resources. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eWhat are tangible resources?\u003c/b\u003e\u003cspan\u003e Tangible resources are materials that you can touch and feel. Examples of tangible resources include tools and materials.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWhat are intangible resources?\u003c/b\u003e\u003cspan\u003e On the other hand, an intangible resource is something that does not have a physical nature, like staffing, intellectual property, and time.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eTypes of Resource Management and Examples\u003c/span\u003e\u003c/h2\u003e\\n\u003ch3\u003e\u003cspan\u003eHuman Resource Management\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eHuman resource management is looking after staffing levels to make sure that the goals of your business can be achieved with the right amount of staff. This type of management includes managing hiring of personnel, reassignment of employees, training of people, and firing of staff, to name but a few activities. Getting these things right is hugely important to an effective resource management process.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eProject Resource Management\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eProjects can be complex and include a lot of moving parts. That is why resource management is important to ensure that projects have enough resources, and at the right times. Project managers need to sit down with different teams and plan out when resources will be needed to make sure that they are available at the times when they are needed in the project.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eDigital Resource Management\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eDigital resources can quickly get out of hand, especially as teams sign up for different software and asset services. IT teams must keep on top of these digital resources to ensure that teams are not doubling up on billing instead of purchasing additional user licenses. Effective management of digital resources means that companies know what digital assets they possess and can quickly audit them when needed.\u003c/span\u003e \u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is Resource Management Important?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe main aim of this type of management is to \u003c/span\u003e\u003ca href=\\\"https://www.wrike.com/blog/what-is-resource-management/\\\"\u003e\u003cspan\u003eoptimize resources so they can be used efficiently\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. If done correctly resource management can be important to a business for many different reasons.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eStrategic Resource Management\u003c/b\u003e\u003cspan\u003e: Resource management can be strategic so that there is a process in place to maximize usage of resources, especially expensive and huge demand resources. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eMeeting Project Deadlines\u003c/b\u003e\u003cspan\u003e: Efficient resource management means that projects do not fall behind due to lack of resources. This is important as sprints are becoming more and more necessary in companies, and resource planning needs to be a priority to make sure these sprints are organized realistically.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eFuture-Proofing Resources\u003c/b\u003e\u003cspan\u003e: Having a great resource management strategy means that you can identify when a resource needs to be upgraded or replaced. This will safeguard against using out-of-date resources or overuse of a resource.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eBenefits of Resource Management\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe benefits of resource management stretch the whole length of a company, it is not just limited to one department. Efficient management of resources means that projects finish on time and teams have everything they need to be successful. But here are three important benefits of resource management that we need to talk about. Efficient resource management:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eAvoids Resource Issues\u003c/b\u003e\u003cspan\u003e: By knowing what resources you have at your disposal you can identify gaps in availability and plan stop gaps when necessary.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003ePrevents Resource Over-Allocation\u003c/b\u003e\u003cspan\u003e: If you manage a busy company that is constantly trying new things then over-allocation of resources is probably something you know a lot about. Efficient resource management results in resources being scheduled so teams do not need to wait to use them to come available — they know when resources are free to use. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCreates Team Transparency\u003c/b\u003e\u003cspan\u003e: By identifying all resources at the disposal of your company you can be transparent and enable people to use these resources openly. As a direct result, all teams can be successful in their jobs as they have all the company tools at their fingertips.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003eResource Management Solutions\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAs companies grow it may become impossible to keep track of resources without the use of resource management services or software. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eWhat are Resource Management Services?\u003c/b\u003e\u003cspan\u003e Specialized agencies can provide an audit to take stock of all resources that your company uses. These services are a great idea if you have just taken over another company and need to understand what resources you have quickly. The benefit of using a resource management service is that these agencies are specialists in their practice and can do a better job than someone inhouse who hasn’t taken on this responsibility before.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWhat is Resource Management Software? \u003c/b\u003eOver the past ten years, the resource management software industry has taken off very successfully. Using this type of software you can streamline the process of acquiring new resources for teams, manage resources centrally, and provide different levels of access to members of your company. Resource management software can take your resource management skills to the next level leading to even better efficiency for your business.\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/top-50-ecommerce-resources\\\"\u003e\u003cspan\u003eTop 50 Ecommerce Resources to Grow Your Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/hub/dropshipping\\\"\u003e\u003cspan\u003eEverything You Need to Know About Dropshipping\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/grow-your-business-dropshipping\\\"\u003eWondering How to Grow Your Business?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/entrepreneur/entrepreneur-resources\\\"\u003e\u003cspan\u003eEntrepreneur Resources: eBooks, Podcasts, and Other Resources\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Resource management is planning, organizing, and allocating important business resources (tangible / intangible) to ensure maximum efficiency. Check out more about this topic here!\",\"Resource management is planning, organizing, and allocating important business resources (tangible / intangible) to ensure maximum efficiency. Check out more about this topic here!\",{\"_258\":286,\"_84\":663,\"_190\":661},\"What is Resource Management and Why Should Our Business Care?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":667,\"_258\":259,\"_260\":668,\"_59\":669,\"_84\":670,\"_264\":671,\"_75\":672,\"_275\":675,\"_279\":676,\"_281\":677,\"_283\":678,\"_284\":679,\"_288\":681,\"_293\":682},\"eyJsYXN0X2lkIjo1NTk4ODczNTE4MzAsImxhc3RfdmFsdWUiOjU1OTg4NzM1MTgzMH0=\",\"gid://shopify/Article/559887351830\",\"customer-segmentation\",\"Customer Segmentation\",\"2024-05-02T13:02:46Z\",{\"_258\":267,\"_6\":673,\"_269\":674,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898649-what-is-customer-segmentation.png?v=1714654967\",\"What is Customer Segmentation?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is Customer Segmentation?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCustomer segmentation is the action of breaking your customer base into groups depending on demographic, psychographic, etc. Segmentation is\u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/encyclopedia/customer-segmentation\\\"\u003e \u003cspan\u003emostly used for marketing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, but there are other reasons to segment your customer base. Using customer segmentation in marketing means that you can target the right people with the right messaging about your products. This will increase the success of your marketing campaigns. \u003c/span\u003e\u003c/p\u003e\u003ch3\u003e\u003cspan\u003eWhat are Customer Segments?\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eCustomer segments include age, gender, buying behavior, job title, or political affiliation. These customer segments show that customer bases can be divided in many different ways. The list of customers in each segment would look completely different also. Depending on the type of business model and data at your disposal, you can utilize differing segmentation. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eCustomer Segmentation Strategy\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many customer segmentation strategies that your business can follow depending on what you are looking to achieve. For example, a company selling software to businesses will have a different goal than a small company selling jewelry to individuals. Their customer segment needs will look nothing alike. A few customer segmentation types include:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eDemographic Customer Segmentation Strategy\u003c/strong\u003e – Basing your segmentation on demographics allows you to target customers by age, location, gender, income level, and so much more. This is the most popular way to segment customers. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003ePsychographic Customer Segmentation Strategy\u003c/strong\u003e – For social media advertising you can \u003c/span\u003e\u003ca href=\\\"/blog/psychographics\\\"\u003e\u003cspan\u003eleverage psychographic data\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to segment your customers by their opinions, behaviors, and attitudes. As this information is a bit harder to discover there are very few places that you can glean this information from.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eUser Engagement Customer Segmentation Strategy\u003c/strong\u003e – Segmenting your customer by how they interact with your website or marketing material can be a great way to increase conversions through sales and marketing. Customers who repeatedly buy from you could fall into the loyal customer segment and receive discounts on purchases.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eGoal Customer Segmentation Strategy\u003c/strong\u003e – Your company could offer many things online, like a webinar, a free trial, and an email subscription. Not all visitors to your website will want all these things. That is why it is a good idea to segment customers \u003c/span\u003e\u003ca href=\\\"https://postfunnel.com/3-customer-segmentation-models-every-marketer-consider/\\\"\u003e\u003cspan\u003ebased on their intent on your website\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. You may know that webinar sign-ups are more likely to convert into customers than those who don’t attend the webinar. Realistically you should be presenting different information to these two groups.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003eCustomer Segmentation Analysis\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCustomer segmentation analysis is looking at information that you have at your disposal and analyzing it for customer segment trends. For instance, you may want to target customers based on their income. For this, \u003c/span\u003e\u003ca href=\\\"https://towardsdatascience.com/customer-segmentation-analysis-with-python-6afa16a38d9e\\\"\u003e\u003cspan\u003eyou need to look at the distribution\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of income throughout your customers to identify the best way to segment them. Or you may think that age is a good demographic factor to segment your audience on. After analyzing your information, you may discover that you don’t have a good distribution of age among customers for you to do this. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eBenefits of Customer Segmentation\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCustomer segmentation is great for many different types of businesses who are looking to get smart about how they do marketing and sales activities. Some of these benefits include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eAbility to Personalize Communication\u003c/strong\u003e: Personalizing marketing communication for customers leads to a better relationship between the customer and the business. This can greatly improve customer loyalty. Acknowledging your customer as more than another member of your email database can \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/brand-equity\\\"\u003e\u003cspan\u003ego a long way for your brand equity\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eUpselling / Cross-selling Opportunities\u003c/strong\u003e: Knowing your customer’s buying behavior or income level can help identify customer segments who can buy further products. Alternatively providing special offers to those who have just bought from you can increase sales of related products also.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eHigher ROI and CRO\u003c/strong\u003e: Sending out targeted campaigns to \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/return-investment-roi\\\"\u003e\u003cspan\u003ecustomers gets better ROI\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e as they have already shown interest in buying from you. When you send out generic campaigns customers are less likely to engage with the content. This is because it is not relevant to them, or not of interest to them. Taking the time to segment your customers will greatly \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003eimprove your CRO\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/market-segmentation\\\"\u003e\u003cspan\u003eWhat is Market Segmentation and How to Segment Your Customers\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e\u003cspan\u003eWhat Is Email Marketing and Why Is It Important?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/target-audience\\\"\u003e\u003cspan\u003eWhy You Really Need a Defined Target Market and Audience\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/blog/dropshipping-niches\\\"\u003eDropshipping Niches That Are Steady, Not Trendy\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Customer segmentation is the action of breaking your customer base into groups depending on demographic, psychographic, etc, to target the right people with your product.\",\"Customer segmentation is the action of breaking your customer base into groups depending on demographic, psychographic, etc, to target the right people with your product.\",{\"_258\":286,\"_84\":680,\"_190\":678},\"What is Customer Segmentation and Why is it Important for My Business?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":684,\"_258\":259,\"_260\":685,\"_59\":686,\"_84\":687,\"_264\":688,\"_75\":689,\"_275\":692,\"_279\":693,\"_281\":694,\"_283\":694,\"_284\":695,\"_288\":697,\"_293\":698},\"eyJsYXN0X2lkIjo1NTk4ODczODQ1OTgsImxhc3RfdmFsdWUiOjU1OTg4NzM4NDU5OH0=\",\"gid://shopify/Article/559887384598\",\"affiliate-marketing\",\"Affiliate Marketing\",\"2024-05-02T13:02:48Z\",{\"_258\":267,\"_6\":690,\"_269\":691,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898915-what-is-affiliate-marketing.png?v=1714654968\",\"What Is Affiliate Marketing?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is Affiliate Marketing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAffiliate Marketing is where an \u003c/span\u003e\u003ca href=\\\"/ebooks/affiliate-marketing\\\"\u003e\u003cspan\u003eaffiliate promotes another person’s product\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e or company through their own \u003c/span\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003e\u003cspan\u003emarketing channels\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This is normally done through an Affiliate Marketing program. Affiliate Marketing is shaped around a commission structure where companies pay affiliate marketers a commission per sale made through \u003ca href=\\\"https://www.shopify.com/blog/affiliate-marketing\\\"\u003eAffiliate Marketing\u003c/a\u003e.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhat Is an Affiliate?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp class=\\\"YT_Video\\\"\u003e\u003ciframe title=\\\"Affiliate Marketing\\\" width=\\\"500\\\" height=\\\"281\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\\\" allowfullscreen=\\\"\\\" src=\\\"https://www.youtube.com/embed/y05Je5KPwGk?feature=oembed\\\"\u003e\u003c/iframe\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAn affiliate is a person who \u003c/span\u003e\u003ca href=\\\"https://ecommerce-platforms.com/glossary/affiliate\\\"\u003e\u003cspan\u003emarkets another companies product for a paid commission\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e on each sale made. An affiliate can be a person who promotes products through their \u003c/span\u003e\u003ca href=\\\"/blog/social-media-marketing-plan\\\"\u003e\u003cspan\u003esocial media profiles\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, or someone who runs their own company and also helps to promote related products on their website.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eTypes Of Affiliate Marketing\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are three main types of Affiliate Marketing but there are also hybrids of these three models in the market. These three types are:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eRelated Affiliate Marketing\u003c/strong\u003e: This is where you already have an online store and you use Affiliate Marketing to gain \u003c/span\u003e\u003ca href=\\\"/blog/what-is-affiliate-marketing\\\"\u003e\u003cspan\u003epassive income through selling related products from other stores\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. An example would be if you sell cushions for couches and beds, you could sell cushion covers on your website that will fit your products but are sold by someone else. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eUnrelated Affiliate Marketing\u003c/strong\u003e: Again when you have your own store you might want to branch out and can use Affiliate Marketing to test new products. Using unrelated Affiliate Marketing you can gain passive income and if the test proves fruitless you would not have lost any money.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003ePure Affiliate Marketing\u003c/strong\u003e: Pure Affiliate Marketing is when you have no online store of your own but you market someone else’s products through other marketing channels like a blog, social media, email marketing, etc. Pure Affiliate Marketing is most present in influencer marketing where influential people, known for their knowledge in a certain niche, will act as an ambassador for a product or brand and market the offering to their audience. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat Is An Affiliate Program?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAn affiliate program is a campaign set up by a company who sells products, whereby they agree to pay commission for any traffic or sales on their website that \u003c/span\u003e\u003ca href=\\\"/blog/affiliate-programs\\\"\u003e\u003cspan\u003ethird-party affiliate marketers provide\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. The traffic or sales will come from individual websites that talk about the products and promotes them to their audience. Amazon’s affiliate program is a \u003c/span\u003e\u003ca href=\\\"https://affiliate-program.amazon.com/\\\"\u003e\u003cspan\u003ewell-known and very popular\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e affiliate program across the world. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eAffiliate Marketing Examples\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many Affiliate Marketing websites online that are great examples of how to successfully manage Affiliate Marketing for more than one brand. Below are three top examples of Affiliate Marketing in different areas to give you an idea of the depth of this practice. \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://thewirecutter.com/\\\"\u003e\u003cspan\u003eThe Wirecutter\u003c/span\u003e\u003c/a\u003e\u003cbr\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955818-the-wirecutter.png\\\" alt=\\\"\\\" width=\\\"258\\\" height=\\\"195\\\"\u003e\u003cspan\u003e\u003cbr\u003eOwned by the New York Times, the Wirecutter is an affiliate site for electronics, tech, and gadgets. They rely on \u003c/span\u003e\u003ca href=\\\"https://www.authorityhacker.com/successful-affiliate-websites-examples/\\\"\u003e\u003cspan\u003econtributors to rigidly test products\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and share honest feedback on the website. The high standard of reviews has earned it a top place among Affiliate Marketing sites, and much trust from its readers. The Wirecutter works closely with companies like Amazon, The Home Depot and Best Buys as part of their Affiliate Marketing strategy.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://thepointsguy.com/\\\"\u003e\u003cspan\u003eThe Points Guy\u003c/span\u003e\u003c/a\u003e\u003cbr\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955818-the-points-guy.png\\\" alt=\\\"\\\" width=\\\"266\\\" height=\\\"189\\\"\u003e\u003cbr\u003e\u003cspan\u003eThis affiliate marketing website is \u003c/span\u003e\u003ca href=\\\"https://nichehacks.com/affiliate-sites-examples/\\\"\u003e\u003cspan\u003ewithin the niche of travel and lifestyle\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. The primary aim is to leverage the benefits credit card and travel companies can offer so that you can get things for free, but the blog also talks about travel experiences in general. Examples of promotions on the website include Citi, American Express, and Chase.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://www.thisiswhyimbroke.com/\\\"\u003e\u003cspan\u003eThis is Why I am Broke\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955818-the-is-why-i-am-broke.png\\\" alt=\\\"\\\" width=\\\"650\\\" height=\\\"108\\\"\u003e\u003cbr\u003e\u003c/span\u003e\u003cspan\u003eB\u003c/span\u003eased on reviews of odd items that people have purchased, This is Why I am Broke is hugely \u003ca href=\\\"https://www.cloudliving.com/examples/\\\"\u003epopular for many demographics\u003c/a\u003e for obvious reasons. Their far-reaching reviews and product descriptions make it easy to motivate readers to take action and buy a product. Affiliates include Amazon, \u003ca href=\\\"https://www.watchgang.com/\\\"\u003eWatch Gang\u003c/a\u003e, and Bose.\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch3\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/affiliate-marketing\\\"\u003e\u003cspan\u003eThe Definitive Guide to Affiliate Marketing\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-vs-affiliate-marketing\\\"\u003e\u003cspan\u003eDropshipping Vs Affiliate Marketing: Which is More Profitable?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/get-started-ecommerce-affiliate-marketing\\\"\u003e\u003cspan\u003eHow to Start Affiliate Marketing with the Best Affiliate Programs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/affiliate-marketing\\\"\u003e\u003cspan\u003eHow to Create an Affiliate Marketing Program\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Affiliate Marketing is where a person promotes a business's product or service through their own marketing channels and is paid a commission on any sale they make.\",{\"_258\":286,\"_84\":696,\"_190\":694},\"What is Affiliate Marketing and What Do Affiliate Marketers Do?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":700,\"_258\":259,\"_260\":701,\"_59\":702,\"_84\":703,\"_264\":704,\"_75\":705,\"_275\":708,\"_279\":709,\"_281\":710,\"_283\":710,\"_284\":711,\"_288\":713,\"_293\":714},\"eyJsYXN0X2lkIjo1NTk4ODc0MTczNjYsImxhc3RfdmFsdWUiOjU1OTg4NzQxNzM2Nn0=\",\"gid://shopify/Article/559887417366\",\"unsubscribe\",\"Unsubscribe\",\"2024-05-02T13:02:49Z\",{\"_258\":267,\"_6\":706,\"_269\":707,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898634-what-does-unsubscribe-mean.png?v=1714654970\",\"What does Unsubscribe mean?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat Does Unsubscribe Mean?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eIn email marketing, to unsubscribe means to remove your email address from a company’s mailing list so as not to receive any further emails or communications. Every email campaign must include an unsubscribe link to provide subscribers an option to remove themselves at any time.\u003c/p\u003e\\n\u003cblockquote\u003e\\n \u003cp\u003eCampaign Monitor consider an \u003ca href=\\\"https://www.campaignmonitor.com/resources/guides/email-marketing-benchmarks/#nine\\\"\u003eaverage unsubscribe rate of .17% to be good\u003c/a\u003e for their business!\u003c/p\u003e\\n\u003c/blockquote\u003e\u003ch2\u003e\u003cb\u003eWhat is an Unsubscribe Rate?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eThe unsubscribe rate is a metric that measures the percentage of people who opt out from an email list. An unsubscribe rate that is less than 1% is considered within industry standard.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe unsubscribe rate percentage is calculated by dividing the number of people who unsubscribed by the number of emails delivered times hundred (Unsubscribed number/Emails delivered x 100 = Unsubscribed rate %).\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is a Good Unsubscribe Rate?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe average unsubscribe rate will largely depend on the niche you are in, but anything below 0.5% is considered good, while 0.5-1% is regarded as reasonable but could be improved. Campaign Monitor consider an \u003ca href=\\\"https://www.campaignmonitor.com/resources/guides/email-marketing-benchmarks/#nine\\\"\u003eaverage unsubscribe rate of .17% to be good\u003c/a\u003e for their business!\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eA high unsubscribe rate can indicate various problems – you might be targeting the wrong people, the quality of your email content might be poor, your emails might not work on mobile devices or they might be sent at the wrong times.\u003c/span\u003e \u003cspan\u003eThere are numerous \u003c/span\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e\u003cspan\u003eemail marketing techniques\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e you can use to lower the number of unsubscribes, but a fluctuating or steadily increasing unsubscribe rate should always be taken as a red flag.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat Happens When Someone Clicks Unsubscribe?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTo unsubscribe from an email list, a recipient has to click on a unique unsubscribe link at the bottom of an email that is immediately recorded in the sender’s email system. The subscriber’s status is then automatically changed from active to unsubscribed and he appears as unsubscribed in the campaign report. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTips to Reduce Your Unsubscribe Rate\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe unsubscribe rate is a critical statistic to track during every \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/email-marketing\\\"\u003e\u003cspan\u003eemail campaign\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, as it helps you to measure the success and gauge consumer interest into your products and promotions. It is also one of the most unpleasant metrics that marketers need to deal with, but there are \u003c/span\u003e\u003ca href=\\\"/blog/email-marketing-statistics\\\"\u003e\u003cspan\u003eways you can improve it\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eKeep your mailing list updated\u003cspan\u003e: \u003c/span\u003e\u003c/b\u003eensure you’re only communicating with people who agreed to receive emails from you and continuously top up your list with fresh leads. New subscribers are typically more engaged and more eager to indulge in special offers.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eA/B test email frequency and time:\u003c/b\u003e\u003cspan\u003e it is crucial to form certain habits that become routine by regularly sending your emails at certain times. A/B tests can help you optimize the frequency, content and style of your emails to achieve the best performance. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCreate value:\u003c/b\u003e\u003cspan\u003e one spammy email can cause a huge spike in your unsubscribe rates and damage your brand. Always aim to provide valuable, unique content to your subscribers that will earn their trust and respect, and the sales will follow. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOptimize for mobile:\u003c/b\u003e\u003cspan\u003e as email opens on mobile are skyrocketing, taking mobile devices into consideration early in the design process will help you reduce the unsubscribe rate and tap into a huge trend that shows no signs of diminishing. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eKeep the unsubscribe link visible:\u003c/b\u003e\u003cspan\u003e subscribers should always have an option to opt out from a mailing list if they no longer wish to receive emails from you. By making the unsubscribe link visible and accessible, you’ll avoid spam complaints and maintain a positive image of your brand. It’s not unusual for subscribers to come back after some time, so let them go on good terms.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-marketing-examples\\\"\u003eEmail Marketing 101: A Cheat Sheet for Email Marketing That Works\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003eEmail Marketing Strategies to Turn More Prospects Into Paying Customers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e6 Best Email Marketing Examples to Convert Online Customers\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Unsubscribe Rate? | Tips to reduce your Unsubscribe Rate | What is a reasonable Unsubscribe Rate? | Read this article to learn more about...\",{\"_258\":286,\"_84\":712,\"_190\":710},\"What is Unsubscribe? - Tips How to Reduce Your Unsubscribe Rate\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":716,\"_258\":259,\"_260\":717,\"_59\":718,\"_84\":719,\"_264\":720,\"_75\":721,\"_275\":724,\"_279\":725,\"_281\":726,\"_283\":726,\"_284\":727,\"_288\":729,\"_293\":730},\"eyJsYXN0X2lkIjo1NTk4ODc0NTAxMzQsImxhc3RfdmFsdWUiOjU1OTg4NzQ1MDEzNH0=\",\"gid://shopify/Article/559887450134\",\"click-through-rate-ctr\",\"Click-Through Rate (CTR)\",\"2024-05-02T13:02:51Z\",{\"_258\":267,\"_6\":722,\"_269\":723,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898650-what-is-click-through-rate.png?v=1714654972\",\"What is Click-Through-Rate?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Click-Through Rate (CTR)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eClick-Through Rate (CTR) is a performance metric expressed in percentages that measures the number of times an ad, \u003ca href=\\\"/ecommerce-wiki/seo\\\"\u003eorganic search result\u003c/a\u003e, or \u003ca href=\\\"/ecommerce-wiki/email-marketing\\\"\u003eemail\u003c/a\u003e is clicked versus the number of times it has been viewed (impressions). It is most commonly used to measure the effectiveness of paid search, display and email marketing campaigns and can indicate the performance of ad copy, subject lines, and metadata (titles and descriptions).\u003c/p\u003e\u003cp\u003e\u003cspan\u003eSome common examples where CTR is measured include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eA call-to-action button or link in an email\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003eAn \u003ca href=\\\"/blog/serp-google-search-engine-results\\\"\u003eorganic result on a SERP page\u003c/a\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eA PPC ad on a SERP page \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eA link on a landing page \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eA Facebook display ad \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eAny \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/ab-testing\\\"\u003e\u003cspan\u003eon-site element\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, such as a button, image, headline, etc.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603966389-ctr.jpg\\\" alt=\\\"facebook ads ctr\\\" width=\\\"975\\\" height=\\\"965\\\"\u003e\u003c/b\u003e\u003c/h2\u003e\\n\u003ch2\u003e\\n\u003cb\u003eHow is \u003c/b\u003e\u003cb\u003eClick-Through Rate (CTR) \u003c/b\u003e\u003cb\u003eCalculated?\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTo determine the Click-Through Rate of your campaign, you need to divide the number of total impressions by the number of total clicks and multiply by 100. For example, if an advertisement for a \u003c/span\u003e\u003ci\u003e\u003cspan\u003eMoleskin\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e notebook generated 100 clicks and 7000 impressions, the CTR is 0.7%: \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eCTR = \u003c/span\u003e\u003cspan\u003e7000 : \u003c/span\u003e\u003cspan\u003e100 \u003c/span\u003e\u003cspan\u003ex 100 = 0.7%\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\\n\u003cb\u003eWhy is \u003c/b\u003e\u003cb\u003eClick-Through Rate (CTR) \u003c/b\u003e\u003cb\u003eImportant?\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTo put it simply, the Click-Through Rate is a telltale sign of the success of your marketing campaigns. By calculating how many people actually end up clicking on the ad after seeing it, it reveals the strength (or weakness) and quality of your ad copy, imagery, \u003ca href=\\\"/ecommerce-wiki/keyword-research\\\"\u003epositioning, and keywords\u003c/a\u003e. Improving Click-Through Rate is one of the fastest ways to increase conversions and ultimately generate more sales. To figure out whether you’re doing a good job at paid search and display advertising, with SEO, or with your email marketing campaigns, try comparing your CTR to your industry averages. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe CTR for \u003ca href=\\\"https://www.acquisio.com/blog/agency/what-is-a-good-click-through-rate-ctr/\\\"\u003esearch ads in AdWords across all industries\u003c/a\u003e averages at 1.91%, and display ads at 0.35%. The average CTR of \u003ca href=\\\"https://instapage.com/facebook-ads-guide-chapter-4\\\"\u003eFacebook ads is .90%\u003c/a\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIf you look at the average CTR for different industries, the \u003c/span\u003e\u003ca href=\\\"https://www.wordstream.com/blog/ws/2016/02/29/google-adwords-industry-benchmarks\\\"\u003e\u003cspan\u003ebenchmarks\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e vary:\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003eSearch Ads\u003c/i\u003e\u003c/b\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eB2B\u003cspan\u003e: the average CTR is 2.41% \u003c/span\u003e\u003c/b\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eeCommerce:\u003c/b\u003e\u003cspan\u003e the average CTR is 2.69% \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHome goods\u003c/b\u003e\u003cspan\u003e: the average CTR is 2.44%\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003eDisplay Ads\u003c/i\u003e\u003c/b\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eB2B\u003cspan\u003e: the average CTR is 0.46% \u003c/span\u003e\u003c/b\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eeCommerce:\u003c/b\u003e\u003cspan\u003e the average CTR is 0.51% \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHome goods\u003c/b\u003e\u003cspan\u003e: the average CTR is 0.49%\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.smartinsights.com/email-marketing/email-communications-strategy/statistics-sources-for-email-marketing/\\\"\u003e\u003cb\u003e\u003ci\u003eEmail\u003c/i\u003e\u003c/b\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eB2B\u003cspan\u003e: the average CTR is 2.59% \u003c/span\u003e\u003c/b\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eeCommerce:\u003c/b\u003e\u003cspan\u003e the average CTR is 2.07%\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\\n\u003cb\u003eHow to Optimize Your \u003c/b\u003e\u003cb\u003eClick-Through Rate (CTR)\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCTR is usually associated with an action leading up to a conversion, but should not be mistaken with \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003econversion rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. However, as one of the key steps in the chain of events leading to conversions, it needs to be optimized to maximize the number of people who \u003c/span\u003e\u003ci\u003e\u003cspan\u003ecan\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e convert. The CTR can be increased by improving the performance of the elements it tracks: copy, imagery, subject lines, titles, descriptions, and keywords. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo achieve the best results, you need to look at each element individually and employ industry best practices to raise the game. For example, packing your ad copy, headlines and descriptions with power words, such as ‘exclusive’, ‘revealed’, ‘hidden’ or ‘lifetime’, is a surefire way to incite action and tempt people into clicking through to your landing page. To increase email CTR, avoid using generic phrases like ‘click here’ as click-through text because it tells your subscribers nothing about what’s waiting for them on the other side of the link. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eSpend time studying the most powerful optimization techniques and learning more about \u003c/span\u003e\u003ca href=\\\"/blog/google-adwords-tutorial\\\"\u003e\u003cspan\u003eadvertising on Google Ads\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and \u003c/span\u003e\u003ca href=\\\"/blog/the-beginners-guide-to-facebook-advertising\\\"\u003e\u003cspan\u003eFacebook,\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and nailing SEO and email marketing to really perfect your strategy and \u003c/span\u003e\u003ca href=\\\"/hub/marketing\\\"\u003e\u003cspan\u003edrive more targeted traffic\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to your online store.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/easiest-ways-find-winning-products\\\"\u003e8 Ways to Find Winning Products Every Time\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/facebook-marketing-tips\\\"\u003ePowerful Facebook Marketing Tips From Respected Marketers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-marketing-statistics\\\"\u003e10 Email Marketing Stats You Need to Know\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is click-through rate (CTR)? | How is click-through rate calculated? | How to optimize your click-through rate | Read this article to learn about CTR.\",{\"_258\":286,\"_84\":728,\"_190\":726},\"Click-Through Rate: What Is It and Why CTR Is Important to Optimize?\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":732,\"_258\":259,\"_260\":733,\"_59\":734,\"_84\":735,\"_264\":736,\"_75\":737,\"_275\":740,\"_279\":741,\"_281\":742,\"_283\":742,\"_284\":743,\"_288\":745,\"_293\":746},\"eyJsYXN0X2lkIjo1NTk4ODc0ODI5MDIsImxhc3RfdmFsdWUiOjU1OTg4NzQ4MjkwMn0=\",\"gid://shopify/Article/559887482902\",\"payment-gateway\",\"Payment Gateway\",\"2024-05-02T13:02:53Z\",{\"_258\":267,\"_6\":738,\"_269\":739,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898639-what-is-a-payment-gateway.png?v=1714654974\",\"What is a Payment Gateway?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Payment Gateway?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA payment gateway is a service that authorizes and processes debit/credit card or PayPal payments for online merchants and traditional brick and mortar businesses. A payment gateway facilitates these transactions by encrypting sensitive data and transferring it between a payment portal (a website or a mobile device) and the bank/front-end processor.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eHow Does a Payment Gateway Work?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eUltimately, payment gateways facilitate communication between your website or brick and mortar store, the payment processor, and the bank that issued the credit card being used to complete the purchase (or PayPal in case the PayPal payment method is used). Security is a major component of all payment gateways, therefore every transaction that occurs between the merchant and the issuing bank is encrypted to protect sensitive financial information. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough the transaction process takes only a few seconds, several steps are accomplished during that brief window of time. Once the customer is prompted to a secure payment page and places an order, the transaction data (credit card number, CCV2 information, etc.) is encrypted and sent to your payment processor through the gateway. The payment processor communicates with the credit card’s issuing bank and retrieves feedback in a form of approval or a declined message. The response is then transmitted to the payment gateway, which communicates it to your website. Finally, the information is interpreted and an appropriate response is generated. If the transaction was approved, the merchant fills the order. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eThe Most Popular Payment Gateways\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBeing able to accept online payments is the only way for an \u003c/span\u003e\u003ca href=\\\"/blog/what-is-ecommerce\\\"\u003e\u003cspan\u003eeCommerce\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e business to grow and expand its earning potential. At the same time, it’s important to understand that having the right mix of payment gateways in your store can also play a major role in generating revenue. Not having the right payment gateways available will most likely lead to \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/shopping-cart\\\"\u003e\u003cspan\u003ecart abandonment\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and lost sales. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere are several popular payment gateways that customers recognize and trust, but you should also consider adding additional gateways that are less known internationally but are tailored to your target markets and countries. \u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/payment-gateways\\\"\u003e\u003cspan\u003eDifferent payment gateways\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e are supported in different countries. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe most popular payment gateways you should consider for your online store include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.paypal.com/\\\"\u003e\u003cspan\u003ePayPal\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://stripe.com/\\\"\u003e\u003cspan\u003eStripe\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://squareup.com/\\\"\u003e\u003cspan\u003eSquare\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.securepay.com/merchant/\\\"\u003e\u003cspan\u003eSecurePay\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.worldpay.com/\\\"\u003e\u003cspan\u003eWorldpay\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.authorize.net/\\\"\u003e\u003cspan\u003eAuthorize.net\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.2checkout.com/\\\"\u003e\u003cspan\u003e2Checkout.com\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"https://www.braintreepayments.com/\\\"\u003eBraintree\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Choose the Right Payment Gateway for Your Online Store\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWith so many different payment solutions out there, deciding which payment gateways to integrate can be a drag. To ensure you’re making the right choice, ask yourself a few simple questions:\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eWhat is my target customer’s preferred method of payment?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eIt is well-known among \u003ca href=\\\"/ecommerce-wiki/ecommerce\\\"\u003eeCommerce\u003c/a\u003e merchants that if they are unable to find their preferred method of payment, shoppers tend to cancel their purchase and look for the product elsewhere. It’s not uncommon for country markets to be dominated by local payment solutions. Doing a bit of research into your target market’s shopping habits and preferences, especially if a lot of your customers are based in foreign countries. This will help you determine which payment gateways should be made available on your online store.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eHow does this gateway affect my \u003ca href=\\\"/ecommerce-wiki/checkout-page\\\"\u003echeckout\u003c/a\u003e user experience?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003eMaking the checkout seamless and easy is key. By choosing the right payment gateways, you can actually reduce the number of steps during the checkout process by auto-populating some of the customer’s information through the gateway’s API and bringing the experience closer to a one-click checkout. Choosing less optimized payment gateways, on the other hand, can prolong the checkout process and increase the risk of drop-offs.\u003c/p\u003e\\n\u003ch3\u003e\u003cstrong\u003eHow easy is it to integrate with this payment gateway?\u003c/strong\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe last thing you want when integrating with payment gateways is to have to spend extra time and resources on creating a customized checkout experience. If you do go down that route, streamlining across all channels and all devices will become quite difficult and cost you some custom development work.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cstrong\u003eWill this gateway grow with my business?\u003c/strong\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eWorking with agile providers that keep up with market trends and constantly innovate will help your business cope with changing market conditions. You should also look into how the transaction fees will change in case your sales volume picks up.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cstrong\u003eIs this the most cost-effective option?\u003c/strong\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eAs you probably know, every payment gateway charges different transaction fees. Your goal when choosing the right payment gateway for your online store is twofold: to streamline the checkout process by integrating with the most commonly used gateways and to ensure that the costs incurred for every transaction don’t eat into your \u003ca href=\\\"/ecommerce-wiki/profit-margin\\\"\u003eprofit margins\u003c/a\u003e. For a quick and easy comparison, here are the commission fees charged by the most popular payment gateways:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003ePayPal:\u003c/b\u003e\u003cspan\u003e $0.10 per transaction \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cb\u003eStripe: \u003cspan\u003e1.4% + 20p for European cards, 2.9% + 20p for non-European cards\u003c/span\u003e\u003c/b\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eSquare:\u003c/strong\u003e\u003cspan\u003e 2.75% per swipe, dip or tap, 3.5% + 15¢ per keyed-in transaction\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSecurePay: \u003c/b\u003e\u003cspan\u003e2.4% per transaction\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cb\u003eWorldpay: \u003cspan\u003e2.75% + £0.20 (pay as you go)\u003c/span\u003e\u003c/b\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eAuthorize.net:\u003c/strong\u003e\u003cspan\u003e 2.9% + 30¢ per transaction\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e2Checkout.com:\u003c/strong\u003e\u003cspan\u003e 2.4% + 30¢ (UK), 2.9% + 30¢ (US); country-dependent\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBraintree: \u003c/b\u003e\u003cspan\u003e1.9% + £0.20 for most transactions\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/paypal-payment-gateways\\\"\u003eEverything You Need to Know About PayPal and Other Payment Gateways\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-dropshipping\\\"\u003eWhat Is Dropshipping? It’s the Easiest Way to Start an Online Business!\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-epacket-delivery\\\"\u003eWhat Is ePacket Delivery?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-outside-of-the-united-states\\\"\u003eCase Study: International Dropshipping Vs. Dropshipping in the USA\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is a Payment Gateway? | How does a Payment Gateway work? | Read how to choose the right Payment Gateway for your online store.\",{\"_258\":286,\"_84\":744,\"_190\":742},\"What Is a Payment Gateway and How They Work? - Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":748,\"_258\":259,\"_260\":749,\"_59\":750,\"_84\":751,\"_264\":752,\"_75\":753,\"_275\":756,\"_279\":757,\"_281\":758,\"_283\":758,\"_284\":759,\"_288\":761,\"_293\":762},\"eyJsYXN0X2lkIjo1NTk4ODc1MTU2NzAsImxhc3RfdmFsdWUiOjU1OTg4NzUxNTY3MH0=\",\"gid://shopify/Article/559887515670\",\"revenue-optimization\",\"Revenue Optimization\",\"2024-05-02T13:02:55Z\",{\"_258\":267,\"_6\":754,\"_269\":755,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953960-what-is-revenue-optimization.png?v=1714654976\",\"What is Revenue Optimization?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Revenue Optimization?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eRevenue optimization is the strategic management of pricing, inventory, demand and \u003ca href=\\\"/ecommerce-wiki/distribution-channel\\\"\u003edistribution channels to maximize revenue growth\u003c/a\u003e over the long term. It uses demand modeling, demand forecasting, pricing optimization, consumer behavior predictions, and other activities to ensure the right products are sold to the right customers at the right time and for the right price.\u003c/p\u003e\u003ch2\u003e\\n\u003cb\u003eThe \u003c/b\u003e\u003cb\u003eRevenue Optimization \u003c/b\u003e\u003cb\u003eLevers\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eeCommerce businesses striving to increase their revenue have a wide array of different strategies that can drive fast and profitable growth at their disposal. These can often be referred to as ‘levers’, in the sense that companies need to know which one to pull and when to pull it to dramatically increase their margins. The primary levers include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003ePricing\u003c/b\u003e\u003cspan\u003e. When it comes to maximizing revenue, pricing optimization as one of the possible growth strategies often gets dismissed on the basis that online ecommerce businesses are always thinking to lower prices rather than raise them. It can be effective, but selling more products doesn’t always mean making more money. By adjusting your prices to target the higher-end customers, you not only avoid the customer service hassles that are linked with cheap offers but also significantly increase your margins. A successful pricing strategy is always backed by data and closely follows market conditions and demand in order to respond to changes quickly.\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eInventory.\u003c/b\u003e\u003cspan\u003e The simple truth is that the more inventory you have, the more variations you can offer, the more you can sell. This presents some serious challenges to online retailers who carry their own stock (e.g. warehousing costs if products don’t sell), yet \u003c/span\u003e\u003ca href=\\\"/blog/aliexpress-dropshipping-guide\\\"\u003e\u003cspan\u003edrop shippers enjoy a massive advantage\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e here due to their unique business model. When forming your inventory, it’s critical to let the data guide you. Items that sell quickly and have high margins should become your star products, around which all your campaigns and promotions are built. For example if, having analyzed the previous sales performance, you can identify a strong-selling item, then the next step would be to source a complimentary item and try to increase the average order value by bundling those two together. \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/cross-selling\\\"\u003e\u003cspan\u003eCross-selling\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and \u003ca href=\\\"/ecommerce-wiki/upselling\\\"\u003eupselling\u003c/a\u003e are also popular tactics used to generate more profit from the same customer.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eMarketing.\u003c/b\u003e To influence the success of their business, eCommerce store owners need to consider the most effective levers to pull. The essence of this practice is to discover tactics that have the biggest impact on sales and then amplify them. Driving relevant, quality traffic to your store and optimizing the conversion rate are two of the most important levers eCommerce entrepreneurs should focus on. However, the optimization process can be a laborious task, as there are many moving parts involved. For example, you have two ways to increase your traffic — you either buy it (AdWords, Facebook ads, Display ads, etc) or bait it (Content marketing, social media, SEO, etc). Now, both of these methods branch out into a number of different tactics that pose different challenges and can have varying degrees of impact on the bottom line. To find out what works best for your business at a given moment, you need to engage in testing and experimentation.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eChannels.\u003c/strong\u003e \u003cspan\u003eeCommerce store owners often make a mistake of putting too much focus on one channel and completely disregarding the rest. The six different eCommerce channels that you need to keep in mind include: Direct traffic, Paid search, Comparison shopping engines (e.g. Google product search), Marketplaces (e.g. eBay or Amazon), Mobile, and Social media. The best way to approach channel optimization is to diversify and build a portfolio of eCommerce channels to minimize the risks that come with overdependence on one strategy.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\\n\u003cb\u003eThe \u003c/b\u003e\u003cb\u003eRevenue Optimization \u003c/b\u003e\u003cb\u003eProcess\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe revenue management process can be broken down into 5 steps:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eData collection. \u003c/b\u003eIt all begins with delving knee-deep into data. To be able to predict consumer behavior, forecast trends and stay ahead of your competition, you need to collect as much historical data for inventory, demand, prices, and other factors as you can. Information that provides more details about the products offered, their prices, competitors, and customer behavior must be collected and analyzed to inform your decisions and dictate your strategy. \u003cb\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\u003c/b\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eSegmentation.\u003c/strong\u003e \u003cspan\u003eWhen you pull all the data together and analyze it, you will be able to segment your customers into clusters based on their past purchases, interests, minimum spend, or any other factors that are important to your business. Market segmentation is essential in order to apply the right marketing tactics to the right customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cb\u003eForecasting\u003c/b\u003e\u003cspan\u003e. The natural next step is predicting future demand based on past performance. Forecasting helps companies allocate sufficient marketing budgets, plan for seasonal events or trends, ensure product availability and manage the inventory more efficiently. Combined with customer segmentation, forecasting helps eCommerce store owners pinpoint levers that can be optimized to achieve better profits.\u003c/span\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOptimization. \u003c/b\u003eLooking at your data analysis and forecasts, you can predict what your customers will do and how the market will behave at a certain point in time. With these unique insights at hand, you can determine what aspects of your business could be optimized to generate higher revenue, whether that’s changing your pricing strategy, increasing customer lifetime value, diversifying your marketing channels or expanding your product offerings. Implementing \u003ca href=\\\"/ebooks/sales-funnel/conversion-rate-optimization\\\"\u003enumerous optimization strategies\u003c/a\u003e at once can cause chaos and muddle your results, so go with the “less is more” philosophy. \u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eDynamic re-evaluation.\u003c/b\u003e\u003cspan\u003e The market is constantly changing. What’s effective and yields brilliant results today, may be completely fruitless tomorrow, so make sure that you’re continually re-evaluating your products, pricing, and processes in order to maximize your revenue.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/pricing-strategy-for-ecommerce\\\"\u003ePricing Strategy for eCommerce – Is Your Price Right?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/25-best-price-comparison-websites\\\"\u003e25+ Best Price Comparison Websites and Apps You Need to Try\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/tools/dropshipping-traffic-calculator\\\"\u003eDropshipping Traffic Calculator\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"Revenue Optimization | What is Revenue Optimization? | The Revenue Management Levers | The Revenue Management Process | Read more about revenue optimization\",{\"_258\":286,\"_84\":760,\"_190\":758},\"What is Revenue Optimization? - Learn How to Optimize Your Revenue\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":764,\"_258\":259,\"_260\":765,\"_59\":766,\"_84\":767,\"_264\":768,\"_75\":769,\"_275\":772,\"_279\":773,\"_281\":774,\"_283\":774,\"_284\":775,\"_288\":777,\"_293\":778},\"eyJsYXN0X2lkIjo1NTk4ODc1NDg0MzgsImxhc3RfdmFsdWUiOjU1OTg4NzU0ODQzOH0=\",\"gid://shopify/Article/559887548438\",\"key-performance-indicator-kpi\",\"Key Performance Indicator (KPI)\",\"2024-05-02T13:02:57Z\",{\"_258\":267,\"_6\":770,\"_269\":771,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-is-a-key-performance-indicator.png?v=1714654977\",\"What is a Key Performance Indicator?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Key Performance Indicator (KPI)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA Key Performance Indicator (KPI) is a business metric that measures the performance and progress of a business against its key objectives. The purpose of using KPIs is to help businesses evaluate their success at reaching specific targets. KPIs are divided into two groups: high-level KPIs that track the overall performance of the company and low-level KPIs that measure key business functions, such as sales or marketing.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eHow to determine Key Performance Indicators (KPIs)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWhen it comes to identifying the right KPIs for your online store, start by asking yourself “what defines success for my eCommerce business?” and “what targets can lead me to that success?”. Often, the default, \u003ca href=\\\"/ecommerce-wiki/return-investment-roi\\\"\u003ego-to metric is return on investment (ROI)\u003c/a\u003e, which measures how successful a particular investment has been, comparing the return to the original expense. However, it isn’t always possible to tie every effort to the bottom line and sometimes, it is not worth doing.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo determine the right KPIs, you must first establish the goals and objectives for whatever you’re intending to track. The next step is to determine the specific conditions that will facilitate the meeting of set goals within a specific timeframe. The two key elements to this are identifying a measurable activity and a specific timeframe. For example, “Increase new visitors by 20% over the next 3 months”. These elements are critical success factors that will help you understand whether you are on track to meeting your goals. The final step is setting the actual KPI. In the case of the example used above, the KPI could be “\u003c/span\u003ePercentage \u003cspan\u003eof new visitors vs. returning visitors compared to last month”. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere’s a host of different KPIs that online retailers like to track. Remember that you should only monitor those KPIs that make sense to your business, but the most important ones you may want to check out include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003eConversion rates\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eSite traffic\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAverage page views \u0026amp; Time on site\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eBounce rate\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePages per visit\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/shopping-cart\\\"\u003e\u003cspan\u003eShopping cart abandonment\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAverage order value\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eExit pages\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eReferral sources\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eReturn rate\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eTraffic sources \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAssisted conversions\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eHighest traffic pages \u0026amp; content\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eFinal sales (daily, weekly, monthly, etc.)\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWhy are KPIs important to your eCommerce business?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThink about KPIs as milestones on the road to success. Aimed at driving action, they are the measurements that can quickly and accurately reveal whether or not your business is successfully moving towards its goals. Monitoring your key performance indicators regularly (even daily) will help you make informed decisions about your online store and focus on and invest in initiatives that are driving your business growth.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-statistics\\\"\u003e15 Ecommerce Statistics You Should Track\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/facebook-ads-tactics\\\"\u003eFacebook Ads Tactics That’ll Skyrocket Sales!\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/seo-tools\\\"\u003eGoogle Analytics Shopify: How to Get Started\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eHow to Use Google Analytics for Your Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"How to determine Key Performance Indicators (KPIs)? | Read this article to learn more why are KPIs important to your eCommerce business?\",{\"_258\":286,\"_84\":776,\"_190\":774},\"What is Key Performance Indicator (KPI)? - Why are KPIs important?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":780,\"_258\":259,\"_260\":781,\"_59\":782,\"_84\":783,\"_264\":784,\"_75\":785,\"_275\":788,\"_279\":789,\"_281\":790,\"_283\":790,\"_284\":791,\"_288\":793,\"_293\":794},\"eyJsYXN0X2lkIjo1NTk4ODc1ODEyMDYsImxhc3RfdmFsdWUiOjU1OTg4NzU4MTIwNn0=\",\"gid://shopify/Article/559887581206\",\"cost-per-click\",\"Cost-Per-Click (CPC)\",\"2024-05-02T13:02:59Z\",{\"_258\":267,\"_6\":786,\"_269\":787,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898649-what-is-cost-per-click.png?v=1714654980\",\"What is Cost-Per-Click?\",[277,278],\"\u003ch2\u003eWhat is Cost-Per-Click (CPC)?\u003c/h2\u003e\\n\u003cp\u003eCost-per-click (CPC) is a digital marketing method used to measure the cost or cost-equivalent for each click on your ads in a Pay-Per-Click (PPC) campaign. It’s a metric that \u003ca href=\\\"/ecommerce-wiki/return-investment-roi\\\"\u003edetermines the success and return on investment\u003c/a\u003e of your paid search campaigns.\u003c/p\u003e\u003ch2\u003eHow is Cost-Per-Click (CPC) Calculated?\u003c/h2\u003e\\n\u003cp\u003eThe formula used to calculate CPC is the cost to an advertiser divided by the number of clicks. For example, if an advertiser paid $150 for a campaign that received 42 clicks, the CPC would be $3.57 (150/42 = 3.571).\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eEvaluating the paid search campaign performance and return on investment can prove to be confusing, as different platforms use different attribution models to measure conversions. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor example, \u003ca href=\\\"/blog/google-adwords-tutorial\\\"\u003eAdWords\u003c/a\u003e only focuses on the performance of your paid search efforts independent of other channels and attributes all conversions to paid ads, regardless of whether the interaction with a paid ad was the last touchpoint in the customer’s buying journey or not. If a customer clicks on a paid ad but doesn’t convert, then later returns to your website directly to complete the order, AdWords will attribute that conversion to the last click on a paid search ad. If a customer has several interactions with paid search ads, say with a Shopping ad first and then a Remarketing ad, the conversion credit will go to the last click (the Remarketing ad).\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eGoogle Analytics\u003c/a\u003e offers a wide range of attribution models that treat conversions differently. If your GA report is set to a default view of Last Non-Direct Click, every purchase that is made on the site will be attributed to the last channel a customer has interacted with before buying, excluding Direct. Be sure to study all attribution models to choose the one that ties in with your goals and gives you an accurate picture of all advertising efforts. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eHow to Optimize Cost-Per-Click?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eEngineering a successful pay-per-click campaign is a challenging task, which requires a lot of fine-tuning and planning. The best way to optimize it is to work top-down on your account structure calibrating the three most important elements shared by all successful paid search campaigns:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003eCampaigns can contain a number of\u003cb\u003e\u003cspan\u003e different ad groups. \u003c/span\u003e\u003c/b\u003eFor example, if you’re running a Black Friday Sales campaign, you’re able to create different ad groups for each of your products.\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eAd Groups\u003c/strong\u003e \u003cspan\u003ehelp you stay organized. You should aim to create a separate ad group for every product you sell and then experiment with different ads for those products within a relevant ad group.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eAds \u003c/b\u003e\u003cspan\u003eare the promotional messages shown to users. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eAdWords is by far the biggest paid search advertising network, but it’s not the only option. Other highly popular networks are Bing, \u003ca href=\\\"/blog/the-beginners-guide-to-facebook-advertising\\\"\u003eFacebook Ads\u003c/a\u003e, \u003ca href=\\\"/blog/the-beginners-guide-to-linkedin-ads\\\"\u003eLinkedIn Ads,\u003c/a\u003e and Adroll. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eKeywords \u003c/b\u003e\u003ci\u003e\u003cspan\u003e(only relevant for AdWords campaigns)\u003c/span\u003e\u003c/i\u003e\u003cb\u003e. \u003c/b\u003e\u003cspan\u003eAs a foundation of your pay-per-click campaign, keywords will be your primary concern. To avoid spending too much money competing with your competitors for the top spots for the most popular keywords, devote time to researching what words or phrases (long-tail keywords) your potential buyers are using to find your product/service. Use negative keywords and ensure your campaign is not built on broad match keywords to avoid attracting shoppers with the wrong intent. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eNote that paid social media ads are not based on keywords. Demographic information and interests take the central stage in these campaigns.\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eAd copy. \u003c/b\u003e\u003cspan\u003eTo write a high-performing ad text copy, you must think about the three essential components: features, benefits, and a call to action. Consumers are searching online to solve problems, not to buy products or services, therefore focusing on the benefits first is key. But all three elements should be incorporated to increase the click-through rate. Other timeless tips for writing good copy include using active verbs, avoiding repetition, and experimenting with unconventional calls to action. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt is worth noting that social media ads are more image-based, so the click-through rate depends heavily on the visuals as well as catchy headlines and ad descriptions. And while the success of AdWords campaigns is hugely reliant on ad relevancy, social media campaigns thrive on invoking user curiosity. Highly converting copy is typically charged with humor and flair. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eLanding page;\u003c/b\u003e\u003cspan\u003e You need purpose-built \u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003elanding pages\u003c/a\u003e for your paid ad campaigns to maximize the percentage of visitors that convert. When designing a landing page, consider and optimize the most important elements: \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eHeadline\u003c/b\u003e\u003cspan\u003e; look for a compelling headline that’s relevant to your ad copy and keywords, \u003c/span\u003e\u003cb\u003eBrand-consistent design;\u003c/b\u003e\u003cspan\u003e aim for a clean and simple design that follows your brand guidelines and instils trust.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eCopy;\u003c/b\u003e\u003cspan\u003e work on strong copy that concisely communicates the value of your offer. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eLanding page form;\u003c/b\u003e\u003cspan\u003e build a user-friendly form that captures only the information you need\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eButton; \u003c/b\u003e\u003cspan\u003eexperiment with eye-catching calls to action that compel visitors to act immediately.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eMonitor your campaign’s results and continue tweaking the elements to achieve higher ROI.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/10-actionable-tips-from-proven-facebook-marketing-experts\\\"\u003e10 Actionable Tips From Proven Facebook Marketing Experts\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-adwords-tutorial\\\"\u003eAnyone Can Advertise on Google AdWords and Here’s How\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/facebook-ads-tactics\\\"\u003eFacebook Ads Tactics That’ll Skyrocket Sales!\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is cost-per-click (CPC)? | How is cost-per-click (CPC) calculated? | How to optimize cost-per-click? | Read this article to learn more about CPC.\",{\"_258\":286,\"_84\":792,\"_190\":790},\"Cost-Per-Click (CPC): What Is It and How to Optimize Your Business's CPC\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":796,\"_258\":259,\"_260\":797,\"_59\":798,\"_84\":799,\"_264\":800,\"_75\":801,\"_275\":804,\"_279\":805,\"_281\":806,\"_283\":806,\"_284\":807,\"_288\":809,\"_293\":810},\"eyJsYXN0X2lkIjo1NTk4ODc2MTM5NzQsImxhc3RfdmFsdWUiOjU1OTg4NzYxMzk3NH0=\",\"gid://shopify/Article/559887613974\",\"cross-selling\",\"Cross-Selling\",\"2024-05-02T13:03:01Z\",{\"_258\":267,\"_6\":802,\"_269\":803,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898916-what-is-cross-selling.png?v=1714654981\",\"What is Cross-selling\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Cross-Selling?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eCross-selling is a sales tactic aimed at generating more sales by suggesting additional, related or complementary items to a buyer who’s already committed to making a purchase. The best way to make sense of this practice is through the iconic McDonald’s phrase “Would you like some fries with that?”.\u003c/p\u003e\u003ch3\u003e\u003cb\u003eCross-Selling vs. Upselling: What’s the Difference?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003eThe goal of both cross-selling and \u003ca href=\\\"/ecommerce-wiki/upselling\\\"\u003eupselling\u003c/a\u003e is to maximize the value of a purchase as well as to improve the customer’s buying experience by creating additional value. While cross-selling focuses on promoting additional products from related product categories, upselling is a sales practice that encourages customers to purchase higher-end versions of that same product or to pay for upgrades and extra features.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe difference between cross-selling and upselling tactics in an eCommerce setting would be:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cspan\u003eIf your customer is buying a laptop and you’re using visual prompts on the product page or during checkout to encourage her to also purchase a mouse, that’s \u003c/span\u003e\u003cb\u003ecross-selling\u003c/b\u003e\u003cspan\u003e. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eIf your customer is buying a laptop and you’re using visual prompts on the product page or during checkout to entice her to also purchase a 5-year warranty, that’s \u003c/span\u003e\u003cb\u003eupselling\u003c/b\u003e\u003cspan\u003e.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cb\u003eCross-Selling in Ecommerce\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCross-selling is one of the most effective sales strategies in eCommerce, as it focuses on introducing similar items to customers who are currently viewing a product on the site or have already added it to their shopping cart. Correctly implemented cross-selling techniques feel natural and improve the customer’s buying experience by showing them complementary items that can increase the value of the initial purchase. For example, by pairing a fountain pen with ink cartridges, you’re not only increasing your odds of generating more profit from the same customer, but also showcasing the breadth of your product catalog as well as helping the customer to find everything she needs or indeed realises she needs. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eExamples of Cross-Selling in Ecommerce \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe majority of leading eCommerce retailers employ cross-selling tactics. For instance, Amazon’s “Frequently bought together” and “Customers who bought this item also bought” suggestions are extremely effective and reportedly generate as much as 35 percent of their revenue. Examples from other retailers include “Shop the look” and “You may also like” product suggestions. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe biggest pitfall with cross-selling in eCommerce is that you might upset a customer with irrelevant offers. Ensuring that you only promote the right products at the right time is key. The \u003c/span\u003e\u003ci\u003e\u003cspan\u003eright\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e products often means items that are necessary or compatible with whatever is in the customer’s shopping basket. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cstrong\u003eCross-selling examples could be: \u003c/strong\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eSuggesting to add HDMI cables if a customer is purchasing a HD ready DVD player. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePrompting a customer who’s buying a pillow set to also add pillow covers. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eShowing top selling vinyl records to someone who’s about to purchase a vinyl player.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Cross-Sell?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe first step to successful cross-selling is identifying complementary products and creating related offers. As with many other aspects in eCommerce, the timing and positioning of these offers need to be tested for maximum yield. However, the common practice is to implement appropriate cross-selling options on product pages, during checkout and in \u003ca href=\\\"/ecommerce-wiki/abandoned-cart-emails\\\"\u003efollow-up email campaigns\u003c/a\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFrequently utilized cross-selling tactics include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eBundling.\u003c/b\u003e\u003cspan\u003e Try packaging items that naturally go well together, such as digital camera, memory card and camera case, to maximise your profits and ensure the customer is aware she needs all three items for proper use of the initial purchase. To add an additional layer of appeal to your bundle promotions, offer eye-catching package discounts. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eVisual aids.\u003c/b\u003e\u003cspan\u003e This tactic is particularly relevant to fashion and lifestyle products, where customers are primarily driven by visual cues. Employ videos and high-quality product images to demonstrate how the product looks and functions in real life and prompt the customer to buy the whole package instead of just purchasing a single item. Examples of this technique include “Shop the look” option for clothes or “Shop the interior” for furniture pieces.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/increase-average-order-value\\\"\u003e10 Ways to Increase Average Order Value\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003eHow to Market a Product: 18 Effective Marketing Tips to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is cross-selling? | Cross-selling vs. Upselling. What’s the difference? | How to cross-sell? | Read this article to learn more about cross-selling.\",{\"_258\":286,\"_84\":808,\"_190\":806},\"What is Cross-Selling? The Differences Between It \u0026 Upselling | Oberlo\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":812,\"_258\":259,\"_260\":813,\"_59\":814,\"_84\":815,\"_264\":816,\"_75\":817,\"_275\":820,\"_279\":821,\"_281\":822,\"_283\":822,\"_284\":823,\"_288\":825,\"_293\":826},\"eyJsYXN0X2lkIjo1NTk4ODc2NDY3NDIsImxhc3RfdmFsdWUiOjU1OTg4NzY0Njc0Mn0=\",\"gid://shopify/Article/559887646742\",\"return-investment-roi\",\"Return on Investment (ROI)\",\"2024-05-02T13:03:02Z\",{\"_258\":267,\"_6\":818,\"_269\":819,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898637-what-is-return-on-investment.png?v=1714654983\",\"What is Return on Investment?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is Return on Investment (ROI)?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eReturn on Investment is the return an investor receives relate to the investment they gave. Return on Investment can be shortened to ROI. The returned sum is expressed as a percentage to show the success of an investment. To calculate ROI the returned sum is divided by the cost of the investment. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eHow to Calculate ROI?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCalculating ROI is straight forward to do and the formula is simple to follow. For instance, if an investor paid $5,000 to invest in new technology and received $7,500 after the product went to market, their return would be $7,500 – $5,000 = $2,500. Their ROI would then be $2,500/$5,000, which is an ROI of 50% on the original investment.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955766-roi-formula.png\\\" alt=\\\"ROI Formula\\\" width=\\\"453\\\" height=\\\"161\\\"\u003e\u003c/span\u003e\u003c/h2\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is Return on Investment Important?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eReturn on Investment is huge when you look at \u003c/span\u003e\u003ca href=\\\"https://bizfluent.com/about-6397819-importance-return-investment.html\\\"\u003e\u003cspan\u003ewhat it can achieve for a company\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. ROI calculates the success of an investment but the investment doesn’t have to be external. Once you have calculated the success of an investment you can \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003e\u003cspan\u003eoptimize to improve this in the future\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Here are just a few examples of where ROI is a great indicator of success within a business.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eNew Product Reporting\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eROI can \u003c/span\u003e\u003ca href=\\\"https://www.callrail.com/blog/importance-of-roi-why-it-matters-for-all-businesses/\\\"\u003e\u003cspan\u003eequate the success of investing in a new product\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to market by analyzing how much revenue it generated against the cost to create, promote, and sell. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSmart HR\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eMany companies hire salespeople but find it hard to track whether they are performing well. One way to track performance is to find their ROI in relation to the sales they brought in compared to their salary.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/ecommerce-trends\\\"\u003e\u003cb\u003eIntegrated Tracking\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e:\u003cbr\u003eIt can be hard to track the success of a sales or marketing project but ROI can change this. ROI looks at the cost of marketing a product compared to the sales that came from that marketing to find out if the campaign broke even, surpassed expectations, or didn’t perform well at all.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eReturn on Investment Example\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe above three reasons why ROI is important are great examples of Return on Investment so let’s look at them closer to see how they are calculated.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eNew Product Reporting\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eNew products can be costly to research, create, promote, and sell so it is important to track costs. After placing the product on the market for the first year it is important to look back to find out if you have received a return for your investment. For example, if a new product cost $25,000 to research, create, promote, and sell and the company made $32,000 in the first year in sales then the ROI is $7,000/$25,000 or 28% (don’t forget to calculate your return which is $32,000 – $25,000).\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSmart HR\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eYou might hire a salesperson for $100,000 a year but wonder if they are worth the money. After a year of work, you can run a report to see the sales that the salesperson have brought in. If they have brought in $250,000 in sales you have found a superstar whose ROI is 150% ($150,000/$100,000).\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIntegrated Tracking\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eA \u003c/span\u003e\u003ca href=\\\"/blog/online-marketing-strategies-ecommerce\\\"\u003e\u003cspan\u003emarketing campaign\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e can be hard to track if a company still uses traditional channels but if you are tracking a digital marketing campaign it is definitely easier. If you spend $2,500 on a marketing campaign and it results in sales of $2,000 your ROI will be -20% (-$500/$2,500) which is not good news for your marketing department!\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/profit-margin\\\"\u003e\u003cspan\u003eWhat is Profit Margin?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/tools/dropshipping-traffic-calculator\\\"\u003e\u003cspan\u003eDropshipping Traffic Calculator\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e\u003cspan\u003eHow to Market a Product: 24 Effective Marketing Tips to Skyrocket Sales\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/podcast/value-facebook-ads\\\"\u003e\u003cspan\u003eThe Value of Facebook Ads and Target Markets for Ecommerce\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is Return on Investment | What does ROI stand for | How to calculate ROI | Read this article to learn more about Return on Investment and what is it\",{\"_258\":286,\"_84\":824,\"_190\":822},\"What Does Return on Investment Mean? Learn Why ROI is Important to Your Business\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":828,\"_258\":259,\"_260\":829,\"_59\":830,\"_84\":831,\"_264\":832,\"_75\":833,\"_275\":836,\"_279\":837,\"_281\":838,\"_283\":838,\"_284\":839,\"_288\":841,\"_293\":842},\"eyJsYXN0X2lkIjo1NTk4ODc2Nzk1MTAsImxhc3RfdmFsdWUiOjU1OTg4NzY3OTUxMH0=\",\"gid://shopify/Article/559887679510\",\"private-label\",\"Private Label\",\"2024-05-02T13:03:04Z\",{\"_258\":267,\"_6\":834,\"_269\":835,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898639-what-is-private-label.png?v=1714654985\",\"What is Private Label?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Private Label?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003ePrivate label product, also called “white label” or “private brand”, is a unique product produced by one company but packaged and sold under another company’s own brand name. Private labeling allows retailers to use contract manufacturers to produce items as per their specific requirements (quality, materials, design, etc.) without investing much capital to start their own line of products.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhat is Private Label Branding?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003ePrivate label branding is all the marketing tactics and techniques used to establish a positive image of a private label product in order to identify and differentiate it in the customer’s eyes.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough the majority of private label goods and services are positioned as cheaper alternatives to the well-known national and international brands, a new generation of “premium” private label products has recently started competing head-to-head with the world’s biggest brands on quality and brand positioning rather than price. To cut into the market share of these well-established rivals, retailers need to adopt smart branding strategies that take advantage of the almost real-time feedback from their customers who are voting with their wallets. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe overwhelming growth trend of the private label goods indicates the diminishing advantage of higher priced international brands and suggests a unique sales opportunity for smaller retailers. As consumers are warming up to the idea of switching to private label brands, it’s an exceptionally good time for eCommerce retailers to jump aboard and experiment in this space. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003ePrivate Label Categories\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWith only a few exceptions, almost all consumer goods categories benefit from both private label and established brands’ offerings. Some of the strongest private label categories include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eFrozen food\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eChilled and fresh food\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eHousehold\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAmbient food (shelf-stable food)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePet food and care\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eNon-alcoholic drinks\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePersonal care\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eConfectionary \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCosmetics\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eAdvantages of Private Labelling\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThanks to their numerous advantages, a rapidly growing number of retailers are eyeballing the opportunity to use private label products as part of their merchandise lines. Here’s why: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eHigher control of production\u003c/b\u003e\u003cspan\u003e – depending on your contract with a manufacturer, you can have varying degrees of control over product quality, ingredients, materials, and design. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eControl over pricing\u003c/b\u003e\u003cspan\u003e – as a result of your influence over product manufacturing, you get to determine product cost and set profitable margins. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eControl over branding\u003c/b\u003e\u003cspan\u003e – since private label products will bear your own brand, you have the final say in how, when and where they’ll be marketed. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eStaying nimble – \u003c/b\u003e\u003cspan\u003ewith low entry barriers and the ability to make decisions quickly, smaller retailers have the advantage of using private label products to respond to market trends and demands. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHigher customer loyalty\u003c/b\u003e\u003cspan\u003e – successful private label products can be a great customer loyalty booster and help raise brand awareness for the retailer. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eDisadvantages of Private Labelling \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWhile the disadvantages are few when compared to the advantages, they still need to be considered. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eCompeting against big names\u003c/b\u003e\u003cspan\u003e – although you have complete control over branding and private label products can help increase customer loyalty, competing against established brands can be a difficult thing to pull off. For one, your branding budget won’t match the financial capacities of the big dogs. Then, there’s the limited availability issue, as your private label products can only be bought in your store while well-known brands are available everywhere. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eManufacturer dependency\u003c/b\u003e\u003cspan\u003e – as you are partnering with one manufacturer only, you’re exposed to financial risks if your manufacturer experiences issues and can’t deliver the products on time or up to a certain standard.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-sell-fall\\\"\u003eBest Dropshipping Products to Sell in Fall\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003e20+ Trending Products to Sell\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-to-sell-in-summer-2017\\\"\u003eBest Dropshipping Products to Sell in Summer\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Private Label? | What is Private Label Branding? | Read this article to learn more about advantages of private labeling.\",{\"_258\":286,\"_84\":840,\"_190\":838},\"What is Private Label? - Read More About Private Label Categories\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":844,\"_258\":259,\"_260\":845,\"_59\":846,\"_84\":847,\"_264\":848,\"_75\":849,\"_275\":852,\"_279\":853,\"_281\":854,\"_283\":854,\"_284\":855,\"_288\":857,\"_293\":858},\"eyJsYXN0X2lkIjo1NTk4ODc3MTIyNzgsImxhc3RfdmFsdWUiOjU1OTg4NzcxMjI3OH0=\",\"gid://shopify/Article/559887712278\",\"variable-cost\",\"Variable Cost\",\"2024-05-02T13:03:06Z\",{\"_258\":267,\"_6\":850,\"_269\":851,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898634-what-is-variable-cost.png?v=1714654986\",\"What is Variable Cost?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is Variable Cost?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eVariable costs are costs that change \u003c/span\u003e\u003ca href=\\\"https://blog.hubspot.com/marketing/variable-cost\\\"\u003e\u003cspan\u003edepending on the level of production a business has\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. These changes could be due to the need for more raw material, less staff or the need to rent extra equipment to finish an order. Variable costs are important to track as they can highlight when there is a need to audit processes and suppliers.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eHow to Find Variable Cost?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eVariable costs can be found by simply adding all variable costs together but sometimes it is not that straight forward. For example, a utility bill can vary from month to month depending on production levels. This means that one month where the business is quiet the electricity bill could be a fixed cost of $70 but the next month, which is busy, could have a fixed cost of $70 and a variable cost of $50. In this case, you should add the costs into the right categories and plan according to these changes. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt is also possible to \u003c/span\u003e\u003ca href=\\\"https://corporatefinanceinstitute.com/resources/knowledge/accounting/variable-costs/\\\"\u003e\u003cspan\u003ecapitalize on lower costs when dealing with high production\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, which can affect variable costs in the following way.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eIt costs a bakery $1,000 to make 20 cakes. $700 of this total cost is fixed and includes the purchase of machinery, electricity, personnel, etc. Variable costs, including materials and additional electricity, equate to $300.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe following week they have an order for 40 cakes. We would assume that this would be double the cost but the cost of machinery will stay the same. Personnel and electricity will only cost a bit more and the company equates fixed costs as the same ($700) with variable costs at $500. Total cost here is ($700+$500) $1,200.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eLooking at the difference in the two-week production compared to total costs it is clear that variable costs do not work in a linear fashion due to bulk buying and other factors.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eWorking from this model the bakery can devise a good pricing structure by assuming minimum stock sold weekly and divide it by the total cost (variable and fixed costs). This bakery could \u003ca href=\\\"/ecommerce-wiki/benchmarking\\\"\u003ebenchmark\u003c/a\u003e that they will sell 40 cakes a week which would cost them $1,200 to produce. $1,200/40 is $30 per cake to \u003c/span\u003e\u003ca href=\\\"https://smallbusiness.chron.com/variable-expense-given-fixed-expense-total-sales-35424.html\\\"\u003e\u003cspan\u003ebreak-even each week\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIf they use this model to draw up pricing is it important to consider the loss they would incur if they only sold 20 cakes. $30 x 20 cakes equate to $600 but the cost to produce these cakes was $1000. This means that the company will lose $400 if they only sell 20 cakes when they have forecasted 40 cakes to be sold per week.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2 class=\\\"p1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003eThe Importance of Variable Cost to a Business\u003c/span\u003e\u003c/h2\u003e\\n\u003cp class=\\\"p1\\\"\u003e\u003cspan class=\\\"s1\\\"\u003eVariable costs are hugely important to a business as it can have a major impact on how a company spends their money. Depending on the strategic goals of a business, variable costs can be quite high (in the case of a lot of change in a business) or quite low. If variable costs are low the business will have more budget to spend in areas of the business as there will be no sudden costs incurred.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eFixed Cost Vs Variable Cost\u003c/span\u003e\u003c/h2\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cspan\u003e\u003ca href=\\\"https://moneyinc.com/the-definition-of-and-formula-for-variable-cost/\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603954227-fixedvariable-costs.jpg\\\" alt=\\\"fixed vs variable costs moneyinc.com\\\" width=\\\"750\\\" height=\\\"400\\\"\u003e\u003c/a\u003eCosts can be grouped into three categories when \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/overhead-costs\\\"\u003e\u003cspan\u003elooking at business overhead costs\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. These are:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eFixed Costs\u003c/strong\u003e: These are costs that stay the same over the history of payments. Things like rent, salary, reoccurring office orders, insurance costs, etc.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eSemi-Variable Costs\u003c/strong\u003e: Semi-variable costs differ over time but not drastically, such as a salesperson’s monthly commission, or utility bills throughout the year.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eVariable Costs\u003c/strong\u003e: Costs that are different each time they are paid are called variable costs. Examples of Variable Costs include the cost of raw materials and maintenance.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/profit-margin\\\"\u003e\u003cspan\u003eWhat is Profit Margin?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/startup-costs-dropshipping\\\"\u003e\u003cspan\u003eHow Much Does it Cost to Launch a Dropshipping Store?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/business-ideas-that-make-money\\\"\u003e\u003cspan\u003e30 Amazing Startup Business Ideas That’ll Make You Money\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/jeffrey-ho-failed-first-idea\\\"\u003e\u003cspan\u003eHis First Business Idea Failed. His Second Let Him Quit His Day Job\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"How to Find Variable Cost? | Fixed vs Variable Costs | Variable Cost Examples | What Does Variable Cost Mean? | Variable Cost Formula\",{\"_258\":286,\"_84\":856,\"_190\":854},\"What is Variable Cost? Learn Why Variable Costs Are Important to a Business\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":860,\"_258\":259,\"_260\":861,\"_59\":862,\"_84\":863,\"_264\":864,\"_75\":865,\"_275\":868,\"_279\":869,\"_281\":870,\"_283\":870,\"_284\":871,\"_288\":873,\"_293\":874},\"eyJsYXN0X2lkIjo1NTk4ODc3NDUwNDYsImxhc3RfdmFsdWUiOjU1OTg4Nzc0NTA0Nn0=\",\"gid://shopify/Article/559887745046\",\"churn-rate\",\"Churn Rate\",\"2024-05-02T13:03:07Z\",{\"_258\":267,\"_6\":866,\"_269\":867,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953961-what-is-churn-rate.png?v=1714654988\",\"What is Churn Rate?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Churn Rate?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA churn rate is a metric expressed in percentages that measures the rate at which a business is losing its customers or subscribers within a specific time period. Depending on the nature of your business, customer churn can refer to a closure of an account, cancellation of a subscription, buyer decision to shop at another store or not to renew a contract with your business.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eHow is Churn Rate Calculated?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWhen you decide what customer attrition means for your business, you can move on to doing the math. Although the churn rate metric is more suitable for SaaS business models, it can be adapted to eCommerce and customized for the goals that you want to achieve. However, you must have a clear definition of what an active customer means to you and when you consider that customer lapsed. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe simplest formula to calculate the churn rate is:\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003e(number of churns during a certain period) : \u003c/span\u003e\u003cspan\u003e(number of customers at the beginning of that period) \u003c/span\u003e\u003cspan\u003ex 100 = churn rate %\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eFor example:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003e5 customers lost : \u003c/span\u003e\u003cspan\u003e100 starting customers \u003c/span\u003e\u003cspan\u003ex 100 = 5% churn rate\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is a Good Churn Rate? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA good churn rate is different for every industry. For instance \u003ca href=\\\"https://baremetrics.com/academy/saas-churn\\\"\u003eBaremetrics says that a good monthly churn rate is 3-5%\u003c/a\u003e for a SaaS company. But this percentage should be lower the more niche your industry is.\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.britebill.com/blog/tm-forum-report/\\\"\u003eBritebill reported in 2018 just how volatile customers are within the telecoms industry\u003c/a\u003e with company churn rates varying from 14% to 75% monthly. Since customers in this industry are more inclined to change supplier regularly it is a special case that is not repeated in many other industries.\u003c/p\u003e\\n\u003cp\u003eInterestingly \u003ca href='\\\"https://info.recurly.com/research/churn-rate-benchmarks'\u003eRecurly Research averages the customer goods industry at a churn rate of 9.62% annually\u003c/a\u003e, and IoT at a much lower rate of 5.88%. What all these churn rate averages tell us is we should benchmark against others in our industry as oppose to leaders in other industries. This is help us to build businesses that are informed and built for the future.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy is Churn Rate Important? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe churn rate can be one of the defining metrics (non-vanity metrics) that shed light on the actual growth of your business. To achieve significant growth, a company’s acquisition rate must exceed its churn rate. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eSudden changes in a company’s churn rate can provide feedback on customers’ response to new pricing, products, competitors, and policies and should be monitored constantly to prevent customer bleeding. It has been demonstrated time and time again that it is by far more cost-effective to retain an existing customer than to acquire a new one. A robust and holistic churn prevention strategy will help you ensure your efforts are laser focused on retaining and growing your customer base. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Reduce Churn Rate?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDecreasing the churn rate is a process, not a one-time motion. It will largely depend on how your business defines active and inactive customers as well as what problems you manage to identify as the main drivers of churning and loyalty change. For eCommerce businesses, the methods that seem to be yielding the best results in fixing the churn rate include: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003ePerfect your \u003ca href=\\\"/ecommerce-wiki/merchandising\\\"\u003emerchandising\u003c/a\u003e tactics. \u003c/b\u003eWhen you begin digging into the root causes of your churn rate, you will discover that there is no single factor that fuels customer attrition. It is usually a collection of different causes that can build up over time. Getting your merchandising tactics right and actively promoting to existing customers can dramatically improve your churn rate, as it focuses on reassuring your customer base that they’re using the best products and are getting the best deals.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eDeploy marketing automation.\u003c/strong\u003e \u003cspan\u003eIf a customer chose to engage with your brand and left you their email address, it means something attracted them to your products, brand promise or style and you should continue building on this competitive advantage. Marketing automation is one of the best tools under your belt to showcase the benefits of your products, build up the desire and keep bringing your customers back to your store. Welcome emails, onboarding emails and customer reactivation campaigns can be very effective if they aim at engaging the customer rather than focusing on a hard sell. You should also implement trigger-based email tactics to send out emails based on customer actions, such as \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/abandoned-cart-emails\\\"\u003e\u003cspan\u003ecart abandonment\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e or \u003ca href=\\\"/ecommerce-wiki/wishlists\\\"\u003ewish list\u003c/a\u003e creation.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/ecommerce-wiki/branding\\\"\u003e\u003cb\u003eBuild brand loyalty\u003c/b\u003e\u003c/a\u003e\u003cb\u003e. \u003c/b\u003e\u003cspan\u003eBranding plays a central role in customer retention. Customers that have an emotional connection with a brand are less likely to churn, even in cases when they experience poor service or are let down. Focus on creating a strong bond with your customers through stories, marketing messages, and reward programs to prevent them from going elsewhere.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProvide adequate customer support. \u003c/b\u003e\u003cspan\u003eLeaving your churn rate unchecked can be a dangerous road to go down. One frustrating experience for your customer can be enough to drive them away, so why risk it? Providing a great 24/7 client support, whether via an online chat tool or by phone or via email, is a simple and effective churn prevention tactic. Providing help on time and to a good standard will not only help you retain your customers, but will also highlight issues and optimization opportunities in your sales funnel.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-handle-angry-ecommerce-customers\\\"\u003eHow to Handle Angry eCommerce Customers + Free Email Templates\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/customer-service\\\"\u003e8 Ways to Optimize Your eCommerce Customer Support\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/podcast/email-marketing\\\"\u003eHow Email Marketing Helped Build a 7-Figure Dropshipping Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is a Churn rate? | Why is a Churn rate important? ? How to reduce Churn rate? | Read this article to learn more about churn rate.\",{\"_258\":286,\"_84\":872,\"_190\":870},\"What Is Churn Rate? [Definition, Formula, Calculations] - Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":876,\"_258\":259,\"_260\":877,\"_59\":878,\"_84\":879,\"_264\":880,\"_75\":881,\"_275\":884,\"_279\":885,\"_281\":886,\"_283\":887,\"_284\":888,\"_288\":890,\"_293\":891},\"eyJsYXN0X2lkIjo1NTk4ODc3Nzc4MTQsImxhc3RfdmFsdWUiOjU1OTg4Nzc3NzgxNH0=\",\"gid://shopify/Article/559887777814\",\"public-relations-pr\",\"Public Relations (PR)\",\"2024-05-02T13:03:09Z\",{\"_258\":267,\"_6\":882,\"_269\":883,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898639-what-is-public-relations.png?v=1714654990\",\"What is Public Relations?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is Public Relations (PR)?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003ePublic Relations is the practice of increasing awareness around a company or brand among the public. Sharing information with the media and other influential sources can help with managing brand reputation. This could include good news stories, revenue reports, and job vacancies. Public Relations can be a planned activity that helps to shape the way the general public views a company. Product-related companies normally send out PR packages to interested parties, inviting them to share their thoughts and recommendations with their following in order to win some free press. \u003c/span\u003e\u003c/p\u003e\u003cdiv\u003e\\n \u003ch2\u003e\u003cspan\u003eWhat Does PR Stand For?\u003c/span\u003e\u003c/h2\u003e\\n \u003cp\u003ePR stands for Public Relations but can also mean press release which is something that a Public Relations office might draft regularly.\u003c/p\u003e\\n\u003c/div\u003e\\n\u003ch2\u003e\u003cspan\u003eElements of a Public Relations Strategies\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003ePublic Relations strategies can be made up of one or more of these five elements:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003ci\u003e\u003cspan\u003e\u003cstrong\u003eCrisis Management\u003c/strong\u003e:\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e Controlling any negative press that could arise around a company to allow the business to operate as usual, with minimal disruption. Crisis management would include a strict management plan so that a company is prepared if needed.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e\u003ci\u003eMedia Relations\u003c/i\u003e\u003c/strong\u003e\u003cspan\u003e: Building relationships with journalists and press personnel is the most important aspect of a public relation professional’s job. This is so that when something newsworthy happens it can be portrayed and controlled by the company through these relationships. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e\u003ca href=\\\"/blog/social-responsibility-marketing-examples\\\"\u003e\u003ci\u003eCorporate Social Responsibility\u003c/i\u003e\u003c/a\u003e\u003ci\u003e (CSR)\u003c/i\u003e\u003c/strong\u003e\u003cspan\u003e: Companies can gain so much from being part of a community and a Public Relations officer can ensure that communication between the company and community is open and flowing. These CSR activities can help attract new talent to the company and add to a positive brand image.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e\u003ca href=\\\"https://www.agilitypr.com/resources/pr-glossary/public-relations-activities/\\\"\u003e\u003ci\u003eInternal Communications\u003c/i\u003e\u003c/a\u003e\u003c/strong\u003e: Consistent internal communication is hugely important to ensure everyone in the business understands where the company is heading. This could be communicated in the form of emails, press releases, company announcements, etc\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e\u003ci\u003eEvent Management\u003c/i\u003e\u003c/strong\u003e\u003cspan\u003e: Event management may fall on the press relations office to organize, particularly around press conferences or events aimed at sharing company news with those outside the business.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003ePublic Relations Examples\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eExamples of Public Relations activities can be very broad. These include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eInvestor Relations Reporting\u003c/strong\u003e: Sharing quarterly reports on how the business is doing with investors to keep confidence in the running of the business high.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eMedia Productions\u003c/strong\u003e: Creating informative videos or audio around the company to share internally or externally. The aim of this media would be to share important information to educate the target audience on a certain subject. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e\u003ca href=\\\"https://www.agilitypr.com/resources/pr-glossary/communications-pr-and-marketing/\\\"\u003eMarketing Communication\u003c/a\u003e\u003c/strong\u003e\u003cspan\u003e: Using marketing channels to share information. For example, posting a statement on Facebook or Twitter about a product release to reach as many people as possible. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat Is The Importance of PR?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003ePR is invaluable to companies today due to the rise of social media usage and the ability for news to become viral so easy. Public Relations professionals need to understand the media a lot more in order to comprehend the value that PR can have for a company. Below are just three important reasons to do PR in a business.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eDamage Control\u003c/strong\u003e: Fake news can negatively affect a business very quickly, so \u003c/span\u003e\u003ca href=\\\"https://inevitablesteps.com/business/importance-of-public-relations/\\\"\u003e\u003cspan\u003ePR personnel must implement their crisis management tactics\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e in order to minimize the damage this news can have on the business.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eBranding\u003c/strong\u003e: Sharing news, being transparent, and reporting positive figures regularly can \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/branding\\\"\u003e\u003cspan\u003ebuild a world-class brand\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that is recognized across the globe, and can sell products without the need for marketing and sales. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eInternal Communication\u003c/strong\u003e: As a company grows and opens offices in many different locations it can be hard to share the same values and keep employees up-to-date with everything that is happening. A Public Relations department can help to manage this relationship to ensure that employees are all working toward a common goal. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003e\u003cspan\u003eWhat Is The Difference Between PR And Marketing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough Public Relations and marketing might work together sometimes \u003c/span\u003e\u003ca href=\\\"https://publicrelationssydney.com.au/pr-marketing-whats-difference/\\\"\u003e\u003cspan\u003ethey are not the same thing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and require different skills to be successful in the respective fields. These differences include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eTarget Markets\u003c/strong\u003e: Marketing departments talk to potential and existing customers to try to entice them to buy more \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/merchandise\\\"\u003e\u003cspan\u003emerchandise\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Public Relations departments talk to people interested in the brand who could be investors, journalists, or customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003e\u003cstrong\u003eGoals\u003c/strong\u003e: Marketing professionals are focused on \u003c/span\u003e\u003ca href=\\\"https://www.themuse.com/advice/the-difference-between-marketing-and-pr\\\"\u003e\u003cspan\u003eincreasing ROI through sales\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, whereas PR professionals are focused on building a brand and selling the company’s story to the world at large.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eDuration\u003c/strong\u003e: Marketing activities can be broken into long-term (SEO, content), medium-term (email, video) and short term (PPC, advertising) activities that can serve many different purposes for the company. Public Relations activities tend to be more long-term focused on building a brand. \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/online-marketing-strategies-ecommerce\\\"\u003e\u003cspan\u003e9 Marketing Strategies That’ll Level Up Your Ecommerce Store\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/shopify-stores\\\"\u003e\u003cspan\u003eThe 60 Most Inspiring and Successful Shopify Stores\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/press-coverage\\\"\u003e\u003cspan\u003eHow to Get Press Coverage for Your Online Store\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/first-time-ecommerce-entrepreneur-story\\\"\u003e\u003cspan\u003eFirst Time Ecommerce Entrepreneur Story\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Learn what PR stands for \u0026 the many types of Public Relations strategies involved in creating awareness for your business today | Public Relations in Marketing\",\"Learn what PR stands for \u0026amp; the many types of Public Relations strategies involved in creating awareness for your business today | Public Relations in Marketing\",{\"_258\":286,\"_84\":889,\"_190\":886},\"What is Public Relations? Discover the Basics of PR and More Here\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":893,\"_258\":259,\"_260\":894,\"_59\":895,\"_84\":896,\"_264\":897,\"_75\":898,\"_275\":901,\"_279\":902,\"_281\":903,\"_283\":903,\"_284\":904,\"_288\":906,\"_293\":907},\"eyJsYXN0X2lkIjo1NTk4ODc4MTA1ODIsImxhc3RfdmFsdWUiOjU1OTg4NzgxMDU4Mn0=\",\"gid://shopify/Article/559887810582\",\"email-marketing\",\"Email Marketing\",\"2024-05-02T13:03:11Z\",{\"_258\":267,\"_6\":899,\"_269\":900,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898644-what-is-email-marketing.png?v=1714654991\",\"What is Email Marketing?\",[277,278],\"\u003ch2\u003e\\n\u003cb\u003eWhat is \u003c/b\u003e\u003cb\u003eEmail Marketing\u003c/b\u003e\u003cb\u003e?\u003c/b\u003e\\n\u003c/h2\u003e\\n\u003cp\u003eEmail marketing is a marketing strategy that uses email as a tool to deliver commercial messages and generate sales. Email marketing is the backbone of \u003ca href=\\\"/hub/marketing\\\"\u003eeCommerce marketing strategy\u003c/a\u003e and can be as simple as sending \u003ca href=\\\"/ecommerce-wiki/abandoned-cart-emails\\\"\u003ecart abandonment emails\u003c/a\u003e or as complex as having numerous email nurturing campaigns designed to build long-term relationships and generate more long-term sales.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is Email Marketing Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp class=\\\"YT_Video\\\"\u003e\u003ciframe width=\\\"500\\\" height=\\\"281\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\\\" allowfullscreen=\\\"\\\" src=\\\"https://www.youtube.com/embed/20YdiTOUGsw?feature=oembed\u0026amp;enablejsapi=1\u0026amp;origin=https://wp-en.oberlo.com\\\"\u003e\u003c/iframe\u003e\u003c/p\u003e\\n\u003cp\u003eEmail marketing is one of the oldest online marketing tactics that continues to claim the top spot in most entrepreneurs’ marketing mix. As people are bombarded with promotional offers and commercial campaigns everywhere they look, inbox remains one last sanctuary of peace and solitude online. If you can get into their inbox, you establish a strong relationship that will most certainly lead to sales in the future. Here’s why most marketers still believe email marketing is the most powerful tool in the box:\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eEmail generates the highest ROI\u003cbr\u003e\u003c/b\u003eAccording to \u003ca href=\\\"https://users.venturebeat.com/register?ref=http%3A%2F%2Finsight.venturebeat.com%2Fnode%2F886%2Fpreview\\\"\u003eVentureBeat\u003c/a\u003e, email is the most effective advertising channel that generates $38 in ROI for every $1 spent. \u003ca href=\\\"https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/why-marketers-should-keep-sending-you-emails\\\"\u003eMcKinsey\u003c/a\u003e’s report shows that email is still 40 times more effective at acquiring new customers than Facebook or Twitter. And according to \u003ca href=\\\"https://dma.org.uk/research\\\"\u003eDMA\u003c/a\u003e, when done right, email marketing segmentation can increase sales revenue by 760%.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eEmail has a huge reach\u003c/b\u003e \u003cbr\u003e\u003ca href=\\\"https://www.radicati.com/wp/wp-content/uploads/2015/02/Email-Statistics-Report-2015-2019-Executive-Summary.pdf\\\"\u003e\u003cspan\u003eRadicati\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e predicts that by the end of 2019, the number of active email accounts will hit over 2.9 billion. That’s more active users than both Facebook (1.8 billion) and Twitter (315 million) put together. Everyone who’s active online must have an email address, as it functions almost like a currency of the web. So when it comes to prospecting new customers online, email is the most powerful tool available to online entrepreneurs. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eEmail has high conversion rates\u003cbr\u003e\u003c/b\u003e\u003cspan\u003eThe overall CTR across all display ad formats and placements is 0.17%, which is less than 2 clicks per 1000 impressions. On average, Facebook CTR reaches 0.119%, while Twitter’s ranges from 1 to 3%. Email, on the other hand, has a 3.42% CTR on average, across all sectors and devices. The costs of running email marketing campaigns are much lower compared to other online advertising channels, that’s why it consistently scores as the most cost-effective lead generation tool.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eMobile-friendly email marketing is growing rapidly\u003cbr\u003e\u003c/b\u003eAccording to \u003ca href=\\\"https://www.salesforce.com/blog/2015/01/2015-state-of-marketing.html\\\"\u003eSalesforce\u003c/a\u003e, 68% of companies have already integrated mobile marketing into their marketing mix as a result of its growing importance. A staggering \u003ca href=\\\"https://www.emailmonday.com/mobile-email-usage-statistics\\\"\u003e79%\u003c/a\u003e of people use smartphones to check their email (that’s a higher percentage than are using smartphones to make calls), so it’s not surprising that email opens on mobile have grown by \u003ca href=\\\"https://www.emailmonday.com/mobile-email-usage-statistics\\\"\u003e180%\u003c/a\u003e in the past three years and the average smartphone conversion rates have gone up by \u003ca href=\\\"https://cmsreport.com/articles/the-5-mobile-marketing-mistakes-infographic-14849\\\"\u003e64%\u003c/a\u003e. Creating mobile-friendly campaigns is a bare minimum. An even better approach would be to optimize every aspect of your email campaigns to drive more traffic and sales.\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eTypes of eCommerce Emails \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWith \u003c/span\u003e\u003ca href=\\\"https://www.slideshare.net/mojnapp/36-must-see-ecommerce-email-marketing-stats\\\"\u003e\u003cspan\u003e33% of consumers\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e reporting that email has the biggest influence on their online spending, it’s worth exploring the different types of eCommerce emails that are most effective at generating sales. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eWelcome email\u003c/b\u003e\u003cspan\u003e is the first email sent to a new subscriber. Almost 75% of consumers expect to receive a welcome email when they sign up to a new website. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eAbandoned cart emails \u003c/b\u003e\u003cspan\u003eare automated email reminders sent to customers who exit a website after adding items to their shopping cart but before checking out. \u003ca href=\\\"/ecommerce-wiki/abandoned-cart-emails\\\"\u003eAbandoned cart emails\u003c/a\u003e average a 4.64% conversion rate and are a highly effective conversion optimization technique. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eTransactional emails\u003c/b\u003e\u003cspan\u003e are sent to users in response to some kind of action. They are typically triggered in real-time and automated. Some of the most popular types of transactional emails include purchase receipts, password resets, cart abandonment, support requests, and many other. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eReward emails \u003c/b\u003e\u003cspan\u003eare automated emails designed to delight and reward loyal customers with special offers and deals. Reward emails are typically triggered after a certain milestone is achieved (for example, when a customer spends a certain amount of money on the site) and enjoy unusually high open and conversion rates. Try offering a special product only available to them like \u003ca href=\\\"/dropship/perfume\\\"\u003ea special fragrance\u003c/a\u003e or \u003ca href=\\\"/dropship/earrings\\\"\u003elimited edition earrings\u003c/a\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eFlash sale email\u003c/b\u003e\u003cspan\u003e is an email sent to announce a limited time offer and drive traffic to your sale. Flash sale emails run a risk of being flagged as spam by the recipient due to their promotional nature, but they generate a \u003c/span\u003e\u003ca href=\\\"https://socialmarketingfella.com/daily-deals-flash-sales-stats-need-know/\\\"\u003e\u003cspan\u003e35% lift\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e in transaction rates. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor tips how to optimize your email campaigns, check out our \u003c/span\u003e\u003ca href=\\\"/blog/email-marketing-examples\\\"\u003e\u003cspan\u003eemail marketing cheatsheet\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eEmail Marketing Tools \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are countless of email marketing tools to choose from, but the most notable ones include: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"https://litmus.com/scope/\\\"\u003e\u003cspan\u003eScope\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://putsmail.com/\\\"\u003e\u003cspan\u003ePutsMail\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://myemma.com/\\\"\u003e\u003cspan\u003eEmma\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.touchstonetests.io/\\\"\u003e\u003cspan\u003eTouchstone subject line analyzer\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://vwo.com/\\\"\u003e\u003cspan\u003eVwo\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.mailerlite.com\\\"\u003eMailerlite\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-marketing-examples\\\"\u003eEmail Marketing 101: A Cheat Sheet for Email Marketing That Works\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003eEmail Marketing Strategies to Turn More Prospects Into Paying Customers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e6 Best Email Marketing Examples to Convert Online Customers\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is email marketing? | Why is email marketing important? | Email marketing tools | Read this article to learn more about email marketing.\",{\"_258\":286,\"_84\":905,\"_190\":903},\"What is Email Marketing? - Why is email marketing important? | Read More\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":909,\"_258\":259,\"_260\":910,\"_59\":911,\"_84\":912,\"_264\":913,\"_75\":914,\"_275\":917,\"_279\":918,\"_281\":919,\"_283\":919,\"_284\":920,\"_288\":922,\"_293\":923},\"eyJsYXN0X2lkIjo1NTk4ODc4NDMzNTAsImxhc3RfdmFsdWUiOjU1OTg4Nzg0MzM1MH0=\",\"gid://shopify/Article/559887843350\",\"opportunity-cost\",\"Opportunity Cost\",\"2024-05-02T13:03:12Z\",{\"_258\":267,\"_6\":915,\"_269\":916,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-is-opportunity-cost.png?v=1714654993\",\"What is Opportunity Cost?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is Opportunity Cost?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOpportunity Cost is the value of one choice over another. Put simply, in economics Opportunity Cost refers to the \u003ca href=\\\"/ecommerce-wiki/return-investment-roi\\\"\u003eReturn on Investment (ROI)\u003c/a\u003e you receive through choosing one option over the alternative. This is an important factor in project management, \u003ca href=\\\"/ecommerce-wiki/resource-management\\\"\u003eresource allocation\u003c/a\u003e, and strategy generation. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eEven though there is no set formula for calculating Opportunity Cost there are many different ways of thinking about it. For example, you could choose to work a full-time job earning $400 a day and running a dropshipping business worth $100 a day, over just a full-time job of $400 a day. The Opportunity Cost is $500 / $400 = $1.25. As a ratio, it is $1.25:$1. This figure means that for every $1.25 you make working and dropshipping, you would make $1 if you only worked full-time.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhy Is Opportunity Cost Important?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOpportunity cost is \u003c/span\u003e\u003ca href=\\\"https://www.ukessays.com/essays/economics/the-importance-of-opportunity-cost-in-decision-making-economics-essay.php\\\"\u003e\u003cspan\u003ehugely important in decision making\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Without it, we could not rationally make a business decision that makes economic sense to our businesses. This Opportunity Cost could simply be weighing up the advantages and disadvantages of choosing one pricing structure over another. It could also involve more complex thinking to achieve clarity on a subject. What is clear is the importance of Opportunity Cost to businesses. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor example, the Opportunity Cost of changing supplier could mean an increase in per unit cost but higher quality products. In the short term, you are investing more money than before so you consider increasing the price of the product for the customer. But in the longer term, these high-quality products can lead to happy customers. Customers will, in return, promote your products to friends if you keep the price steady, leading to strong market share. Therefore you need to choose whether to increase the product price. A business needs to make decisions like this every day and weigh up the pros and cons in order to remain profitable.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eOpportunity Cost vs Trade-Off\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003eOpportunity Cost\u003cspan\u003e and \u003c/span\u003etrade-offs\u003cspan\u003e are \u003c/span\u003e\u003ca href=\\\"https://www.tutor2u.net/business/reference/opportunity-costs-and-trade-offs\\\"\u003e\u003cspan\u003etwo tightly connected terms in economics\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. A \u003c/span\u003etrade-off\u003cspan\u003e is the choice you did not choose within your O\u003c/span\u003epportunity Cost\u003cspan\u003e conundrum. Say you needed to choose between running a marketing campaign over hiring a salesperson. You project that hiring a salesperson would cost $3,000 a month and earn you $10,000 in sales, whereas running a marketing campaign would cost $1,000 a month and earn you $5,000 in sales. You calculate that the monthly sales revenue minus the cost of a salesperson is an Opportunity Cost of $7,000 in earnings whereas a monthly marketing campaign is $4,000. By choosing to hire a salesperson your O\u003c/span\u003epportunity Cost\u003cspan\u003e is $1.75:$1 and your \u003c/span\u003etrade-off\u003cspan\u003e is a gain of $3,000 ($7,000 – $4,000 = $3,000).\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eImplicit and Explicit Opportunity Costs\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eImplicit costs are \u003c/span\u003e\u003ca href=\\\"https://www.investopedia.com/terms/i/imputed-cost.asp\\\"\u003e\u003cspan\u003eimplied costs that are not captured through accountancy\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e or other planning activities as a cost. This could include the cost of one employee to train another into a job, or the cost of machinery depreciating over time. Implicit costs are also known as Opportunity Costs in business terms.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eExplicit costs are any costs involved in the payment of cash or another tangible resource by a business. This includes salary payments, new machinery, or renting office space, and are a mix of fixed and \u003ca href=\\\"/ecommerce-wiki/variable-cost\\\"\u003evariable costs\u003c/a\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eOpportunity Cost Example For Ecommerce Merchants\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWe have already given three examples of Opportunity Costs for ecommerce merchants. But there is an important Opportunity Cost specifically when choosing between a traditional ecommerce model and that of dropshipping. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWith the traditional \u003c/span\u003e\u003ca href=\\\"/ebooks/wholesale/wholesale-clothing\\\"\u003e\u003cspan\u003ewholesale ecommerce model\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, a merchant decides on products to sell, and contacts suppliers to find the perfect fit for the company. Once suppliers are chosen the merchant orders a certain amount of units of each product from their suppliers. They then begin to sell these products to customers online through their website and other ecommerce portals like Amazon, etc. Once a sale is made the merchant ships the product to the customer. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe \u003c/span\u003e\u003ca href=\\\"/blog/shopify-dropshipping-guide#What_is_Dropshipping\\\"\u003e\u003cspan\u003eDropshipping ecommerce model\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e is different in one step. After a dropshipping merchant has found suppliers that are fit for purpose, instead of ordering quantities of products from the supplier, they place the products on their website. Only buy products from the supplier when orders come in from customers. The supplier then ships the product straight to the customer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe Opportunity Cost arises here through the choice to buy products from the supplier before or after a customer buys from you. If you buy inventory before the sale, a merchant incurs the cost of the products until sold. They also need to incur the cost of storage and the cost of shipping to the customer. If units are not sold the merchant must then find a way to dispose of this excess product. What is clear from this model is that it is quite costly upfront. With dropshipping there is less cost upfront making the Opportunity Cost low. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/mindset\\\"\u003e\u003cspan\u003eThe Ecommerce Mindset: How Successful Store Owners Think\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/one-product-business-entrepreneurs-simple-formula-success\\\"\u003e\u003cspan\u003eThe Single Product Website: This Entrepreneur’s Simple Formula for Success\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/business-skills-to-start-online-store\\\"\u003e\u003cspan\u003e10 Business Skills You Need to Start an Online Store\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-how-to-start-and-succeed\\\"\u003e\u003cspan\u003e8 Tips for Starting an Ecommerce Business Without Going Broke\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Opportunity cost is the value of one choice over another. Put simply it is the cost of choosing one option over the alternative. Our article delves into the subject so keep reading\",{\"_258\":286,\"_84\":921,\"_190\":919},\"What is Opportunity Cost? Discover This and More on the Subject with Oberlo\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":925,\"_258\":259,\"_260\":926,\"_59\":927,\"_84\":928,\"_264\":929,\"_75\":930,\"_275\":933,\"_279\":934,\"_281\":935,\"_283\":935,\"_284\":936,\"_288\":938,\"_293\":939},\"eyJsYXN0X2lkIjo1NTk4ODc4NzYxMTgsImxhc3RfdmFsdWUiOjU1OTg4Nzg3NjExOH0=\",\"gid://shopify/Article/559887876118\",\"competitive-analysis\",\"Competitive Analysis\",\"2024-05-02T13:03:14Z\",{\"_258\":267,\"_6\":931,\"_269\":932,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898650-what-is-a-competitive-analysis.png?v=1714654994\",\"What is a Competitive Analysis?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is a Competitive Analysis?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA competitive analysis is a review of your competitive landscape to find out what your competitors are doing. The aim is to understand your competitors so you can \u003c/span\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/competitor-analysis\\\"\u003e\u003cspan\u003eplan your business activities accordingly\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Competitive Analysis’ can help to identify areas where you are lacking or advancing so you can understand where you stand in your industry.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt is so important to do this kind of analysis when you are in a competitive market. This is due to the fact that it is easy to fall behind in terms of marketing and product advancements. Analyzing where you stand in your competitive market will create a blueprint of where you need to be. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003eWhat Are The Types of Competitors?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are \u003c/span\u003e\u003ca href=\\\"/ebooks/sales-funnel/funnel-hacking\\\"\u003e\u003cspan\u003etwo types of competitors\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that you need to look at when doing a competitive analysis. These are:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eWhat is a Direct Competitor\u003c/b\u003e\u003cspan\u003e: These are competitors that sell the same product or service as you, normally to the same target audience. For instance, you may sell high-end vacuum cleaners to people in the greater New York area. Your direct competitors are other stores that sell the same product in the same area.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWhat is an Indirect Competitor\u003c/b\u003e\u003cspan\u003e: Indirect competitors are those who do not sell the same product as you but their product could satisfy the same need. For instance, indirect competitors for a manufacturer of women’s jeans are manufacturers of skirts and shorts.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003eHow to Do a Competitive Analysis\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDoing a competitive analysis can take time but it is so worthwhile. This competitor research can help you understand where you need to be in your industry to be successful. Here are the 6 steps to follow to do an overview competitive analysis. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e1. Identify and Categorize Your Competition\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eCreate a list of at least ten competitors, categorizing them in direct and indirect competitors. If you don’t have ten competitors in your area or market, think outside the box. Look at bigger brands that own real estate in your competitive landscape. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e2. Research Customer Experience\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eStart to do a \u003c/span\u003e\u003ca href=\\\"https://www.inthebagpr.co.uk/what-is-competitor-mapping-and-why-is-it-useful/\\\"\u003e\u003cspan\u003ecompetitors mapping of the customer experience\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e with these companies. Look at their blog and how well they are doing. Is one competitor out-performing all the rest? Are you doing living up to these standards?\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eCheck reviews for each competitor; is the sentiment positive overall? Is there a common complaint across reviews that you can solve with your business? These reviews can come from across Google Maps, Social Media, Yelp or other third-party review sites that are popular in your industry. This competitive analysis and research can \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/unique-selling-proposition-usp\\\"\u003e\u003cspan\u003ehelp you identify your USP\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that sets you apart from your competitors.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e3. Discover Competitor Market Positioning\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eNext, you can look at the pricing of your competition. This could be tricky if your competitors don’t show this online. But it is important to know this information so you know if you charge more or less for your business. Your competitor research will give you a good insight into whether a price increase would be acceptable going forward.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eNow place all your competitors alongside each other and plan their market position on a \u003c/span\u003e\u003ca href=\\\"https://creately.com/diagram/example/jnehumxe/Perceptual+Map+for+Competitive+Analysis\\\"\u003e\u003cspan\u003esimple competitive landscape analysis map\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603954505-competitive-analysis-map.png\\\" alt=\\\"competitive analysis map Creatively\\\" width=\\\"930\\\" height=\\\"1024\\\"\u003eThis will help you understand your main competitors against your brand depending on where you land on the map. It is important to understand this positioning so you know who to spend more time paying attention to. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e4. Research Competitor Employees\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eBased on this competitive landscape analysis map you can begin looking at your competitors hiring trends to understand their next moves. If they just hired more developers maybe they are working on improving their technology. More salespeople could mean a more aggressive push to win market share. If your competitors are filling new positions it could give you valuable insight into their plans for the future. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e5. Add Your Business Into the Mix \u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eNow add your business into your competitive analysis map and see which companies you land alongside. Is this what you expected? This activity might lead to you repositioning your brand or striving for bigger things so don’t skip this step. Now you will know which brands are dominant in your marketplace. Furthermore, you know who you need to overtake to start seeing results from all your hard work.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e6. Do a SWOT Analysis\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eFinally do a SWOT analysis to \u003c/span\u003e\u003ca href=\\\"https://www.wordstream.com/blog/ws/2017/12/20/swot-analysis\\\"\u003e\u003cspan\u003efind out your strengths, weaknesses, opportunities, and threats\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This analysis will give you insights into your gaps in service and help inform your product roadmap in the future. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603954504-swot-analysis-wordstream.png\\\" alt=\\\"SWOT analysis Wordstream\\\" width=\\\"800\\\" height=\\\"575\\\"\u003e\u003c/span\u003e\u003c/h2\u003e\u003ch2\u003eWhat Are The Advantages of a Competitive Analysis?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCompetitive analysis’ are a great way to understand your competitive landscape. Without looking at what your competitors are doing you will not know what next steps you need to do to grow your business. Some of these advantages are listed here\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eMarket Gaps\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eA competitive analysis will show you gaps in your marketplace that \u003c/span\u003e\u003ca href=\\\"/ebooks/entrepreneur/entrepreneurial-skills\\\"\u003e\u003cspan\u003eyou wouldn’t have known otherwise\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This gap could be a need for an app to provide certain services that no competitor already provides. Or perhaps customers are asking for add-on services that wouldn’t cost too much to supply. This market gap can be your competitive edge. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eProduct Development\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eSimilar to market gap, doing a competitive analysis can open your business up to product developments. These are things that you would not have known about otherwise. For instance, a competitor might offer a product to customers that is more advanced than yours. Upon looking at reviews you find that customers are unsatisfied with the performance from this competitor. As you know that superior performance is important to your customers you can short track these developments into your roadmap.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eMarket Trends\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eA competitive analysis can also identify a trend in the marketplace toward something that you have not thought about yet. Maybe all your competitors are developing apps for mobile or creating personalized products. In busy environments, many things can pass under the radar that a competitive landscape analysis can bring to the surface. Spending time looking at competitors every quarter can allow you to stay competitive.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eMarketing\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eLooking at the frequency of \u003c/span\u003e\u003ca href=\\\"/blog/best-time-post-social-media\\\"\u003e\u003cspan\u003esocial media posts\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and blog articles, \u003c/span\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e\u003cspan\u003eemail campaigns\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, and the overall marketing strategies of competitors can introduce new ideas to you. Maybe you hadn’t considered video marketing but your main competitor is getting a lot of engagement through this medium. Or perhaps the way you post on social media is too bland and customers prefer more upbeat content. Every company is different, therefore their marketing will not be the same but you can learn from your competitors.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003ePricing Strategy\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eFinally, your \u003c/span\u003e\u003ca href=\\\"/blog/pricing-strategy-for-ecommerce\\\"\u003e\u003cspan\u003epricing strategy\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e might be great for you right now. But introducing a subscription plan, or a monthly offer could be the way all of your competitors are going. You can make a choice whether to continue with your current pricing or move to a more accepted pricing strategy. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/market-research\\\"\u003e\u003cspan\u003eMarket Research: A Complete Guide to Understanding Your Audience\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/benchmarking\\\"\u003e\u003cspan\u003eWhat Are The Benefits of Benchmarking?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003e\u003cspan\u003eFind Out What You Should Sell to be Successful Online?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/business-plan\\\"\u003e\u003cspan\u003eDiscover What the Purpose of a Business Plan With Our In-Depth Article\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"A competitive analysis is a review of your competitors to find out what they are doing so you can plan your business activities accordingly. Learn more in our article\",{\"_258\":286,\"_84\":937,\"_190\":935},\"Competitive Analysis: What Is It and How Can It Increase Market Share\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":941,\"_258\":259,\"_260\":942,\"_59\":943,\"_84\":944,\"_264\":945,\"_75\":946,\"_275\":949,\"_279\":950,\"_281\":951,\"_283\":952,\"_284\":953,\"_288\":955,\"_293\":956},\"eyJsYXN0X2lkIjo1NTk4ODc5MDg4ODYsImxhc3RfdmFsdWUiOjU1OTg4NzkwODg4Nn0=\",\"gid://shopify/Article/559887908886\",\"b2b\",\"B2B\",\"2024-05-02T13:03:16Z\",{\"_258\":267,\"_6\":947,\"_269\":948,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898653-what-is-b2b-ecommerce.png?v=1714654996\",\"What is B2B eCommerce?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is B2B eCommerce?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBusiness to business eCommerce, or B2B eCommerce, is an online\u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/ecommerce\\\"\u003e \u003cspan\u003ebusiness model\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that refers to business transactions between two businesses, rather than transactions between a company and individual consumers. Typically, B2B eCommerce facilitates transactions between a manufacturer and a wholesaler, or a wholesaler and a retailer.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eHow Does B2B Differ From B2C?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe key difference between B2B and \u003ca href=\\\"/ecommerce-wiki/b2c\\\"\u003eB2C models\u003c/a\u003e is that B2B transactions occur between two companies, while B2C refers to selling to individual consumers directly. The specific areas where these models contrast the most include:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003ePurchasing process. \u003c/b\u003e\u003cspan\u003eIn comparison to a B2B purchasing process, B2C transaction is usually much simpler and shorter, as it involves one consumer making a purchasing decision based on their individual needs. A B2B purchasing process is far more complex because the purchasing decisions involve greater money and risks, and are usually made by a number of stakeholders. As a result, it can often take days, weeks or even months to finalize.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBrand loyalty.\u003c/b\u003e\u003cspan\u003e In a B2B setting, \u003ca href=\\\"/ecommerce-wiki/brand-equity\\\"\u003ebrand loyalty is a crucial part of the sales process\u003c/a\u003e, as businesses tend to seek long-term commitments when they engage with other businesses and foster partnerships that generate a good portion of their revenue.\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\u003cspan\u003eIn a B2C setting, on the other hand, brand loyalty plays a significantly smaller part in the sales process, as the value of a purchase is much smaller and consumers have a huge array of other options to choose from.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProduct knowledge. \u003c/b\u003e\u003cspan\u003eDue to the size of the investment, they’re making, B2B customers are usually more educated about the products or services they’re buying. B2C customers, on the other hand, have less in-depth product knowledge and may even succumb to impulse purchases.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat is B2B Marketing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eB2B marketing is employed by companies seeking to sell their products to other companies. It is usually feature-led and focuses on the value and the logic of a product. Customers are more detail-oriented and are information seekers, that’s why the most effective B2B marketing strategies focus on providing in-depth, educational information that assists decision-makers with finding the right solutions for their problems.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eWhat Are the Best B2B Marketing Strategies?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eLogical arguments, financial benefits, and strong data matter a great deal to B2B customers. Understandably, marketing success comes from providing valuable content to the industry and making a product seem like a natural choice. The most popular B2B marketing strategies include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eEducational webinars\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"https://www.bluecorona.com/blog/b2b-marketing-strategy-guide/\\\"\u003eWhitepapers, eBooks, guides, etc\u003c/a\u003e. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThought leadership\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCase studies\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eVideo testimonials\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eNative advertising\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMarketing automation and CRM tools\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eTrade shows and networking events\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/online-marketing-strategies-ecommerce\\\"\u003eOnline Marketing Strategies For Your eCommerce Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e15 Creative Marketing Tactics Online Stores Use (That You Should Too)\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/social-media-marketing-plan\\\"\u003eSocial Media Marketing for Small Business Explained\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is B2B eCommerce? | How does B2B differ from B2C? | What are the best B2B marketing strategies? | We cover all these important questions and more in our in-depth article.\",\"What is B2B eCommerce? | How does B2B differ from B2C? | What are the best B2B marketing strategies? | We cover all these important questions and more in our in-depth article. \",{\"_258\":286,\"_84\":954,\"_190\":952},\"What is B2B eCommerce? How does B2B differ from B2C? | Oberlo\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":958,\"_258\":259,\"_260\":959,\"_59\":960,\"_84\":961,\"_264\":962,\"_75\":963,\"_275\":966,\"_279\":967,\"_281\":968,\"_283\":968,\"_284\":969,\"_288\":971,\"_293\":972},\"eyJsYXN0X2lkIjo1NTk4ODc5NDE2NTQsImxhc3RfdmFsdWUiOjU1OTg4Nzk0MTY1NH0=\",\"gid://shopify/Article/559887941654\",\"profit-margin\",\"Profit Margin\",\"2024-05-02T13:03:17Z\",{\"_258\":267,\"_6\":964,\"_269\":965,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898639-what-is-profit-margin.png?v=1714654998\",\"What is Profit Margin?\",[277,278],\"\u003ch2\u003e\u003cb\u003eHow is Profit Margin Calculated?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp class=\\\"YT_Video\\\"\u003e\u003ciframe width=\\\"500\\\" height=\\\"281\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\\\" allowfullscreen=\\\"\\\" src=\\\"https://www.youtube.com/embed/GfohLKumEm0?feature=oembed\u0026amp;enablejsapi=1\u0026amp;origin=https://wp-en.oberlo.com\\\"\u003e\u003c/iframe\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eProfit margin can be calculated using a simple formula: \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eProfit Margin = (Total Sales – Total Expenses) / Total Sales \u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eHere is a simple example of how it works:\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eLet us assume that your company made $500k in sales last year. After you have deducted \u003ca href=\\\"/ecommerce-wiki/overhead-costs\\\"\u003eall of your costs and expenses\u003c/a\u003e, such as rent, salaries, cost of goods, etc., you’re left with net profits of $100k. Now, all you need to do to calculate your profit margin is to divide net profits by total sales. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003e$100k / $500k = 0.2, or 2%, as profit margin is typically expressed in percentages. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy Does Profit Margin Matter?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eProfit margin, or marginal cost, is a popular and helpful ratio for gauging a company’s financial health and profitability. In general, profit margin can provide a decent insight into different aspects of a company’s financial performance: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003ethe profitability and stability of a business \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ecompany’s ability to manage expenses\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ecompany’s pricing strategy \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ecompany’s performance vs. competition \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ecompany’s investability potential\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eLow-profit margins could suggest a wide array of issues, from the inability to efficiently manage expenses and overheads, to inadequate pricing strategy. It’s crucial for businesses to monitor their profit margin closely, as it’s a great tool to identify areas ripe for improvement and optimize their earnings. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eInterestingly enough, higher revenue doesn’t always translate into higher profit margin. If expenses associated with higher sales have increased faster than the revenue, the company can actually end up making less money. That’s why keeping the costs low, effectively managing the \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/inventory\\\"\u003e\u003cspan\u003einventory\u003c/span\u003e\u003c/a\u003e,\u003cspan\u003e and optimizing the pricing strategy for maximum profit is as much a determining factor for healthier profit margin as increased sales. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eEssentially, there are only two ways for companies to achieve better profit margins:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003eGenerate more revenue while keeping the costs low\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eLower the costs while generating the same amount of revenue \u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan\u003eSince generating additional revenues is often more difficult, businesses typically experiment with \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003e\u003cspan\u003erevenue optimization\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e strategies and tend to look for opportunities to cut down on costs and fine-tune their pricing strategy to improve their profit ratio. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough profit margin can be useful for comparing companies with one another, the comparisons should only be drawn between companies within the same industry and ideally, with similar business models. Seasonality and cyclical sales trends should also be taken into consideration when comparing profit margin over a specific time period.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/pricing-strategy-for-ecommerce\\\"\u003ePricing Strategy for eCommerce – Is Your Price Right?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/25-best-price-comparison-websites\\\"\u003e25+ Best Price Comparison Websites and Apps You Need to Try\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/tools/dropshipping-traffic-calculator\\\"\u003eDropshipping Traffic Calculator\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/revenue-optimization\\\"\u003eWhat is Revenue Optimization?\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Profit Margin? | How is Profit Margin calculated? | Why does Profit Margin matter? | Read this article to learn more about Profit Margin.\",{\"_258\":286,\"_84\":970,\"_190\":968},\"What is Profit Margin? - Learn How to Calculate the Profit Margin | Oberlo\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":974,\"_258\":259,\"_260\":975,\"_59\":976,\"_84\":977,\"_264\":978,\"_75\":979,\"_275\":982,\"_279\":983,\"_281\":984,\"_283\":984,\"_284\":985,\"_288\":987,\"_293\":988},\"eyJsYXN0X2lkIjo1NTk4ODc5NzQ0MjIsImxhc3RfdmFsdWUiOjU1OTg4Nzk3NDQyMn0=\",\"gid://shopify/Article/559887974422\",\"keyword-research\",\"Keyword Research\",\"2024-05-02T13:03:20Z\",{\"_258\":267,\"_6\":980,\"_269\":981,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898915-what-is-keyword-research-1.png?v=1714655000\",\"What is Keyword Research\",[277,278],\"\u003ch2\u003e\u003cstrong\u003eWhat is Keyword Research?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003eKeyword research is a research process used to find actual search terms that people employ to find products and services online. The purpose of keyword research is to help businesses achieve better search rankings and learn more about their customers. Understanding keyword demand gives companies better insight into consumer motivations and helps to inform their marketing strategy.\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eWhy is Keyword Research Important?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003eKeyword research is the backbone of search marketing. In the simplest sense, keyword research is the only way to gauge understanding of what terminology web searchers are using to discover your products. Without that knowledge, you will not be able to execute search engine optimization (SEO) and boost your conversion rate.\u003c/p\u003e\\n\u003cp\u003eIn addition, keyword research can be a very useful tool in providing a general insight into the market niche you’re operating in. It is a quick and reliable method to pinpoint your main competitors, as you can see what other eCommerce stores are bidding on the same keywords. Gathering the most popular search phrases also informs you about market trends and helps to estimate the potential size of the market. Low search volume always signals a lack of demand and can also help you see market fluctuation and seasonality.\u003c/p\u003e\\n\u003cp\u003eThe ultimate goal of every online store is to make more sales. To increase the potential of sales, you need to get more eyeballs on your products, which means driving more traffic to your store. This should not be any traffic; you need to attract people that have a keen interest in what you’re offering. There are several proven tactics on how to gain the attention of the right audience, most notably, content marketing, paid search advertising, and social media ads. All of these methods rely on tapping into the right keywords to catch consumers in the right state of mind. Hence, the importance of comprehensive keyword research can never be overstated; with such a profound impact on the bottom line, it can make or break your eCommerce business.\u003c/p\u003e\\n\u003cp\u003eWhen it comes to crafting effective paid search advertising campaigns, keyword research is where it all begins. Doing it properly will give you a complete picture of the search volume, keyword opportunities, competitors, bid prices, and the difficulty to rank for your target keywords. Getting all this information up front will help you choose the best and most cost-effective approach to paid search advertising.\u003c/p\u003e\\n\u003ch2\u003e\u003cstrong\u003eKeyword Research Tools\u003c/strong\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe best way to kick off your keyword research is by brainstorming an initial list of words and phrases that you suspect your customers might use to search for the products you are selling. Don’t rely on your own imagination only, get your friends and family involved and extract ideas from them, too. The longer your initial list of possible keywords, the easier it will be to discover keyword opportunities. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eOnce you have that figured out, consider some keyword research tools that can help you expand the list and take the research a step further:\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eUse Google’s related suggestions (at the bottom of every SERP page) \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://adwords.google.com/KeywordPlanner\\\"\u003e\u003cspan\u003eGoogle’s Keyword Planner \u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://ubersuggest.io/\\\"\u003e\u003cspan\u003eÜbersuggest \u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://keywordtool.io/\\\"\u003e\u003cspan\u003eKeywordTool.io\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://ahrefs.com/\\\"\u003e\u003cspan\u003eAhrefs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://moz.com/researchtools/ose/\\\"\u003e\u003cspan\u003eOpen Site Explorer\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.semrush.com/\\\"\u003e\u003cspan\u003eSEMrush\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"https://www.wordstream.com/google-adwords?camplink=ProductsGraders\u0026amp;campname=APG\u0026amp;cid=Web_Any_Products_AdWords_Grader_AWGrader\\\"\u003eWordStream\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Choose the Right Keywords\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eFirst, let us agree on the meaning of “the right keyword”. A great search phrase meets these three main requirements:\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eIt’s highly relevant\u003c/b\u003e\u003cspan\u003e to your online store and the products you’re selling: you only want to drive targeted traffic. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eIt has a \u003c/span\u003e\u003cb\u003ehigh search volume\u003c/b\u003e\u003cspan\u003e: you want to fill the top of your \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-funnel\\\"\u003e\u003cspan\u003esales funnel\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e with as many potential customers as possible. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eIt has \u003c/span\u003e\u003cb\u003ereasonable levels of competition\u003c/b\u003e\u003cspan\u003e: you want to achieve the top-of-page position on search pages in a cost-effective way.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eSearch engine optimization is an ongoing process with a lot of moving parts, so don’t expect to achieve mind-blowing results overnight. On second thought, getting off to a good start can determine how long and difficult this process will be. Broadly, these are the main steps to choosing the right keywords: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eInitial brainstorm. \u003c/b\u003e\u003cspan\u003eMake a separate list of relevant search phrases for every product group and aim for at least 5-10 phrases in each list. The product group is just a convenient way to group similar products into bigger batches, for example, “women coats” or “laptop accessories”. If you have data on your current best-performing keywords, make sure you include these in your lists. \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAlternative keywords.\u003c/b\u003e\u003cspan\u003e Use the keyword research tools mentioned above to expand your list and see what people are actually searching for. Take note of these phrases’ popularity, relevance to your business, and the level of competition you’ll be up against. \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eKeyword difficulty. \u003c/b\u003e\u003cspan\u003eHundreds of online stores might be bidding for the same keywords, so in order to rank high in search results, you’ll need to apply creative thinking and single out search phrases that have a reasonably high search volume but enjoy rather low bid prices. Lower PPC bid prices often indicate less competition (and therefore, better opportunity). \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eLong-tail keywords. \u003c/b\u003e\u003cspan\u003eLong-tail keywords are particularly valuable in eCommerce because they clearly indicate a consumer’s purchase intent. It is reasonable to assume that someone searching for a “spring coat” is at the information gathering stage of their buying journey, whereas long-tail keywords like “yellow spring coat with pockets” or “long black spring raincoat” help to identify a buyer who’s closing in on a purchase. Optimizing for long-tail keywords can be a little tricky, but ranking for them is much easier compared to the broad search terms. The best way to come up with long-tail search terms is to use your basic keywords as a starting point and spin them into something more specific. Make use of the keyword research tools mentioned above to broaden your thinking and take a look at resources like \u003c/span\u003e\u003ca href=\\\"https://answerthepublic.com/\\\"\u003e\u003cspan\u003eAnswerThePublic\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, \u003c/span\u003e\u003ca href=\\\"https://www.hittail.com/\\\"\u003e\u003cspan\u003eHitTail\u003c/span\u003e\u003c/a\u003e,\u003cspan\u003e and \u003c/span\u003e\u003ca href=\\\"https://app.wordtracker.com/\\\"\u003e\u003cspan\u003eWordTracker\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that are a little more suited for long-tail keyword research.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eThe Beginner’s Guide to Dropshipping SEO\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003eHow to Get More Sales With Ecommerce Conversion Optimization\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/seo-tools\\\"\u003e18 Best SEO Tools that SEO Experts Actually Use\u003c/a\u003e\\n \u003cdiv class=\\\"text-sm text-black-30 leading-none mt-2\\\"\u003e\u003c/div\u003e\\n \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Keyword Research? | Why is Keyword Research important? | Keyword Research Tools | Read this article to learn more about Keyword Research,\",{\"_258\":286,\"_84\":986,\"_190\":984},\"What is Keyword Research? - Learn How to Choose the Right Keywords\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":990,\"_258\":259,\"_260\":991,\"_59\":992,\"_84\":993,\"_264\":994,\"_75\":995,\"_275\":998,\"_279\":999,\"_281\":1000,\"_283\":1000,\"_284\":1001,\"_288\":1003,\"_293\":1004},\"eyJsYXN0X2lkIjo1NTk4ODgwMDcxOTAsImxhc3RfdmFsdWUiOjU1OTg4ODAwNzE5MH0=\",\"gid://shopify/Article/559888007190\",\"user-persona\",\"User Persona\",\"2024-05-02T13:03:22Z\",{\"_258\":267,\"_6\":996,\"_269\":997,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953989-what-is-a-user-persona.png?v=1714655002\",\"What is a User Persona?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is a User Persona?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA user persona is a representation of your customer. Through user research, and collecting online data you can discover what your ideal customers have in common, like salary, aspirations, needs, etc. Once you have a good idea of these attributes, you can start to build your user persona which will embody them.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhy Do Marketers Need User Personas?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003e\u003ca href=\\\"https://en.99designs.de/blog/business/how-to-create-user-personas/\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603953989-99-designs-user-persona-example.png\\\" alt=\\\"99 Designs - User Persona Example\\\" width=\\\"930\\\" height=\\\"647\\\"\u003e\u003c/a\u003e\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eUser personas create empathy towards your customer and \u003c/span\u003e\u003ca href=\\\"https://www.hotjar.com/blog/user-personas/\\\"\u003e\u003cspan\u003ehighlights what products they need or want\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to make their lives easier. User personas allow marketers to understand their target audience a lot better so they can create campaigns that are relevant and \u003c/span\u003e\u003ca href=\\\"/blog/target-audience\\\"\u003e\u003cspan\u003erelatable to their target market\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eBenefits of User Personas\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAs we mentioned above user personas allow \u003c/span\u003e\u003ca href=\\\"https://ux247.com/the-benefits-of-user-personas/\\\"\u003e\u003cspan\u003ecompanies to feel empathy towards their customers\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e which is important when creating and selling products. But, there are so many other benefits to incorporating user personas into your product development, marketing, and sales processes. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBenefits include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eHighlighting Issues\u003c/b\u003e\u003cspan\u003e: Doing user research and creating user personas can highlight problems customers may have when using your product. Maybe the interface is not intuitive enough, or the display is too small. Feedback like this can greatly improve your product for future customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIdentifying Solutions\u003c/b\u003e\u003cspan\u003e: Empathizing with your customers can help to identify additional solutions that your product could potentially provide for your customers. These could be new features or upselling add-on products, but they should provide more value for your customer.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eGaps in Knowledge\u003c/b\u003e\u003cspan\u003e: Talking with customers and understanding why they buy your product can help you to grasp the real value of your product. It can also open your eyes to aspects of your customers, or your industry, that you didn’t know about. Certainly, if you spend many years in the industry, things change and it can be hard to keep up with everything.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eShowing Motivations\u003c/b\u003e\u003cspan\u003e: It can be hard to really understand why a customer makes the decision to choose your company over a competitor. This is especially true when your product offering and pricing are so similar. Building a user persona can show you why customers choose you over another business \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/unique-selling-proposition-usp\\\"\u003e\u003cspan\u003eso you can build out your USP further\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003ePromotional Opportunities\u003c/b\u003e\u003cspan\u003e: Customers can be harsh when it comes to feedback but they also offer amazing insight into the true usage of your product or service. When you truly understand your user you can come up with creative messaging and promotional campaigns that will catch their eye. For example, using imagery or idioms to show that you understand what captivates your audience. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eHow to Create a User Persona\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCreating a user persona has different steps involved to \u003c/span\u003e\u003ca href=\\\"https://www.usability.gov/how-to-and-tools/methods/personas.html\\\"\u003e\u003cspan\u003eensure that information is gathered and interpreted in the correct way\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Each step has its importance and shouldn’t be rushed. Once you have completed each step you will have created a fully-fledged user persona that your company can leverage for success.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 1: Gather Your Data\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003ePut a list together of all the possible ways you can gather information about your customers. Now list out the level of work needed to pull meaningful information from these systems. Some systems require some time to pull reports; others require more effort to organize. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eCan you \u003c/span\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business#Understanding_Demographics\\\"\u003e\u003cspan\u003ecollect demographic information from Google Analytics\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e or your sales system? Does your email subscription require customers to list the types of products they are interested in? Are your customers open to joining focus groups or user interviews, in order to give one on one feedback? All of these data points are important, in order to gather information about your users that you couldn’t get anywhere else.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603966723-audience-personas.png\\\" alt=\\\"qualitative content analysis\\\" width=\\\"975\\\" height=\\\"471\\\"\u003e\u003c/span\u003e\u003c/h3\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 2: Identify What Customers Have in Common\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eOnce you have \u003c/span\u003e\u003ca href=\\\"https://careerfoundry.com/en/blog/ux-design/how-to-define-a-user-persona/\\\"\u003e\u003cspan\u003egathered all your user information\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e you can start to build out common traits that they have. It is important to draw a line between what is a trend across all customers and what a subset might have in common. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFor instance, as an online pet store, you may have 5,000 customers. 2,000 prefer buying dog food online, whereas 3,500 prefer having a dog as a pet over a cat. Although 2,000 customers is a large portion, it only makes up 40% of your customer base so it cannot be seen as a trend. Alternatively, 70% of your customers prefer dogs to cats so this trend is more important to note.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 3: Create a Persona\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eNext, you need to create the actual user persona, populating it with all the important information you have just found out. You may have discovered new things about your customers that can change the way you do business so it is crucial that you highlight these things within the persona so they are taken into account in the future. \u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cspan\u003eElements of a User Persona:\u003c/span\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan\u003eIn order for a user persona to provide as much insight as possible the following elements should be present. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"https://www.usability.gov/how-to-and-tools/methods/personas.html\\\"\u003e\u003cb\u003eName and Photo\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e – Giving your persona a name and photo humanizes them and makes it easy to feel empathy towards them.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eUser Persona Description\u003c/b\u003e\u003cspan\u003e – Writing a brief 200-500 word description of the persona is important. Who are they, where do they work, what do they do in their free time – these little snippets of information helps to highlight that your customer is a human who visits your online store.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCustomer Problems\u003c/b\u003e\u003cspan\u003e – List out the problems that your customers have that would lead them to your online store. Maybe even include one or two queries they would search for when trying to alleviate their problems online. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eProduct Solutions\u003c/b\u003e\u003cspan\u003e – Every problem has a few solutions so you need to highlight why customers choose your solution over other ones accordingly to your user research. If your customer chooses to buy yoga material from your online store to alleviate their back pain, why did they choose this over buying a cream, or going to a brick and mortar store to buy materials? This information is hugely relevant to your business.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOnline and Offline Behavior\u003c/b\u003e\u003cspan\u003e – Sometimes it is good to list where your customers ‘ hang out’ to understand their behavior. Maybe your customers visit forums to talk regularly about their issues. Or your customers could be secretive and choose to limit their screen time. In both cases, it is good to know what your customer enjoys so that you can target their platforms instead of spending time and money \u003c/span\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003e\u003cspan\u003ereaching out over many different platforms\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to no avail. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCustomer Demographics\u003c/b\u003e\u003cspan\u003e – Identifying your user personas \u003c/span\u003e\u003ca href=\\\"/blog/psychographics\\\"\u003e\u003cspan\u003edemographic, and perhaps their psychographic, information\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e can help your company to decide on product pricing, promotion, packaging, and so much more. Overlooking this aspect of a user persona can mean misunderstanding your customers completely.\u003cbr\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603954733-facebook-demographics.png\\\" alt=\\\"Facebook Gender User Persona\\\" width=\\\"1024\\\" height=\\\"648\\\"\u003e\u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003eFor instance, you may assume that your customers are high earners who have yet to start a family. This means they have lots of disposable cash. Realistically you can raise the price of your product because of this belief, and your customers can afford this price increase. But after doing user research you learn that the majority of your customers are associate level and planning to start their family very soon. This changes things from your business’ perspective as your \u003ca href=\\\"/blog/pricing-strategy-for-ecommerce\\\"\u003epricing may need to be revisited\u003c/a\u003e in order to see more success in the future.\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eMotivation to Buy\u003c/b\u003e\u003cspan\u003e – Finally, you need to understand why a customer would choose to spend money with you, over another business. \u003c/span\u003e\u003ca href=\\\"/blog/brand-loyalty\\\"\u003e\u003cspan\u003eIs your customer brand-savvy\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e? Do they care about what the product looks like? Are they concerned about the materials the product is made from? These motivations are so important to know about as they identify where you should be placing your efforts from a product development and marketing point of view. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 4: Distribute Across the Business\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eFinally, once your user persona has been created, you need to \u003c/span\u003e\u003ca href=\\\"https://uxplanet.org/how-to-create-personas-step-by-step-guide-303d7b0d81b4\\\"\u003e\u003cspan\u003edistribute it across the whole business\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Every department should understand who their main customer is. From customer service to product development, to sales and marketing everyone should feel empathy towards your customer and your user persona will help to achieve this. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eBest Practices for User Personas\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCreating user personas can be a lengthy process. Between user interviews, and sifting through data, it can be easy to get lost in the whole process. But the process is important as it \u003c/span\u003e\u003ca href=\\\"https://blog.aha.io/4-marketing-best-practices-for-creating-customer-personas/\\\"\u003e\u003cspan\u003emakes you more defined than your competitors\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFive best practices for user personas are:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eTalk to real people\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eLook at all the data not just snapshots\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eLink aspects of your persona to a feature of your product\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDon’t be afraid to talk to existing customers\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAsk the hard questions that might not give a positive answer\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eIf you follow these five best practices you are guaranteed to gather invaluable information about your user persona that you would get nowhere else.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eDifferences Between a User and Buyer Persona\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eFrom a corporate point of view, a \u003c/span\u003e\u003ca href=\\\"https://www.slideshare.net/vedenin/user-persona-vs-buyer-persona-key-differences\\\"\u003e\u003cspan\u003ebuyer and user persona can be very different things\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. A \u003ca href=\\\"/ecommerce-wiki/buyer-persona\\\"\u003ebuyer persona could be someone in purchasing\u003c/a\u003e who makes the decision to purchase new equipment for the company which they will never use themselves. On the other hand, a user persona from the corporate standpoint is the end-user who will use the equipment. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThese two people are very different but these differences are important to know especially when creating collateral to promote your product.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\" data-wpel-link=\\\"internal\\\"\u003eEmail Marketing Strategies to Turn More Prospects Into Paying Customers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/market-segmentation\\\" data-wpel-link=\\\"internal\\\"\u003eWhat is Market Segmentation? Learn How to Segment Your Customers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/impulse-buyers\\\" data-wpel-link=\\\"internal\\\"\u003eHow to Make Sales From Impulse Buyers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-start-a-dropshipping-business\\\" data-wpel-link=\\\"internal\\\"\u003eHow to Start a Dropshipping Business\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"A user persona is a representation of your customer. We talk through the steps needed to create a persona that your business can use to empathize with.\",{\"_258\":286,\"_84\":1002,\"_190\":1000},\"User Persona: Definition and Step by Step Guide | Ecommerce Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1006,\"_258\":259,\"_260\":1007,\"_59\":1008,\"_84\":1009,\"_264\":1010,\"_75\":1011,\"_275\":1014,\"_279\":1015,\"_281\":1016,\"_283\":1016,\"_284\":1017,\"_288\":1019,\"_293\":1020},\"eyJsYXN0X2lkIjo1NTk4ODgwMzk5NTgsImxhc3RfdmFsdWUiOjU1OTg4ODAzOTk1OH0=\",\"gid://shopify/Article/559888039958\",\"free-board-fob\",\"Free on Board (FOB)\",\"2024-05-02T13:03:24Z\",{\"_258\":267,\"_6\":1012,\"_269\":1013,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898644-what-is-free-on-board.png?v=1714655004\",\"What is Free on Board?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Does FOB Stand For in Shipping?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eFOB stands for Free on Board and it is an acronym used in the \u003c/span\u003e\u003ca href=\\\"/ebooks/wholesale/wholesale-business\\\"\u003e\u003cspan\u003eshipping and deliveries industry\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. FOB changes the rules for who is responsible for a shipment, shifting it from the seller to the buyer. Free on Board can be used to reduce costs for both the buyer and seller.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhat Does FOB Mean?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eFOB means that the responsibility and costs of \u003c/span\u003e\u003ca href=\\\"/blog/what-is-epacket-delivery\\\"\u003e\u003cspan\u003eshipping goods\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e fall not on the seller but on the buyer. There are many advantages to this shift in roles and it is popular in cases where bulk orders are filled. The seller will load the goods onto a ship communicated by the buyer, and the buyer clears the goods for export.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWho Pays For FOB?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eFree on Board entails that the cost for delivery of goods is the responsibility of the buyer. Any additional costs or claims will also be at the discretion of the buyer. From the perspective of the buyer, once the goods have left their premises they are no longer their responsibility.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhat Does FOB Shipping Point Mean?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWhen you are shipping via Free on Board it will be stated as FOB, [destination]. For instance, if the buyer is located in Kansas, Missouri the shipping label would state FOB, Kansas. Once the shipment arrives at the FOB destination the buyer can accept it and the sale will be completed. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eAdvantages of FOB for a Seller\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eFOB is good for a seller as once the product leaves the warehouse the shipment is the responsibility of the buyer. If the shipment is damaged or lost the buyer will need to claim back on it, while the seller considers the deal done once it leaves their premises. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eA seller also gains from Free on Board as it is one less thing to worry about in the purchasing process. If a buyer takes responsibility for a shipment when they purchase it the seller doesn’t need to price up delivery routes, sort out export taxes, etc, so the process is a lot simpler for them.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eAdvantages of FOB for a Buyer\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAn advantage for the buyer of FOB would be that they can organize the best way to deliver the shipment. This means that they can get a good deal on freight services and not have to rely on the seller’s chosen delivery method. This can lower the cost of purchase significantly.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eFree on Board can also be good for the buyer if they have \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/fulfillment\\\"\u003e\u003cspan\u003emany warehouses or premises\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that they would want to deliver to and don’t have a central location to work from. Organizing their own shipping would mean they can deliver to numerous locations without incurring additional costs, or causing confusion for the seller. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/blog/oberlo-dropshipping-faq\\\"\u003eOberlo Dropshipping FAQ\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/should-you-offer-free-shipping\\\"\u003eShould You Offer Free Shipping?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/shipping-tips-dropshipping\\\"\u003e10 Shipping Tips to Make Your Life Easier\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003ca href=\\\"/blog/international-shipping\\\"\u003e8 Headache-Preventing Tips for International Shipping\u003c/a\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What Does FOB Mean? | What Does FOB Stand For | FOB Shipping Point | What Does FOB Stand For in Shipping? | What Does Free on Board Mean?\",{\"_258\":286,\"_84\":1018,\"_190\":1016},\"What Does FOB Mean? Learn Why Free on Board Can be Good For Your Business\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1022,\"_258\":259,\"_260\":1023,\"_59\":1024,\"_84\":1025,\"_264\":1026,\"_75\":1027,\"_275\":1030,\"_279\":1031,\"_281\":1032,\"_283\":1032,\"_284\":1033,\"_288\":1035,\"_293\":1036},\"eyJsYXN0X2lkIjo1NTk4ODgwNzI3MjYsImxhc3RfdmFsdWUiOjU1OTg4ODA3MjcyNn0=\",\"gid://shopify/Article/559888072726\",\"bounce-rate\",\"Bounce Rate\",\"2024-05-02T13:03:26Z\",{\"_258\":267,\"_6\":1028,\"_269\":1029,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898652-what-is-bounce-rate.png?v=1714655006\",\"What is Bounce Rate?\",[277,278],\"\u003ch2\u003eWhat is Bounce Rate?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBounce rate is an online marketing metric that refers to the percentage of visitors who land on one page of your website and leave without viewing any other pages. As a metric that tracks single-page visitors, bounce rate reflects your effectiveness at retaining visitors.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eA visit to a page is considered a bounce only if the visitor leaves directly from the entrance page, without viewing any other pages.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003eHow is Bounce Rate Calculated?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe average bounce rate of a web page is calculated by dividing the total number of bounces on a page in a set period of time by the total number of entrances on that page in the same time window. Average bounce rate is determined by dividing the total number of bounces across all the pages in a set period of time by the total number of entrances across all the pages in the same period of time.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603956494-bounce-rate.png\\\" alt=\\\"email bounce rate\\\" width=\\\"798\\\" height=\\\"218\\\"\u003e\u003c/h2\u003e\\n\u003ch2\u003eReasons For High Bounce Rates\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBounce rate is a significant metric. If a high percentage of your visitors bounce, their behavior can indicate several issues:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eThey didn’t find what they were looking for,\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThey found what they were looking for but the offer didn’t meet their expectations (unexpected charges, end of promotion, registration form, etc.)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThey found what they were looking for but were not compelled to buy (your website is not user-friendly or is not optimized for conversions)\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eYou want to build rapport with your potential customer, so it’s important that she browses your site and ultimately converts by visiting other pages – whether that means she consumes more content, signs up to your newsletter, or purchases a product.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAverage bounce rates can vary depending on the industry you’re in:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eInformational sites\u003c/b\u003e\u003cspan\u003e: the average bounce rate is 40-60%\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBlogs: \u003c/b\u003e\u003cspan\u003ethe average bounce rate is 70-98%\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eLead generation websites:\u003c/b\u003e\u003cspan\u003e the average bounce rate is 30-50%\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eService sites: \u003c/b\u003e\u003cspan\u003ethe average bounce rate is 10-30%\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eRetail sites\u003c/b\u003e\u003cspan\u003e: the average bounce rate is 20-40%\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eLanding pages\u003c/a\u003e:\u003c/b\u003e\u003cspan\u003e the average bounce rate is 70-90%\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eFollowing are some of the often cited reasons why visitors leave:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003ePage design (poor contrast, poor choice of color, fonts and other design elements)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eConfusing navigation\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eText-heavy design\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eUnresponsive design\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePoor formatting: not using bold or italics, little or no spacing between lines and paragraphs\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eWebsite looks spammy – too many ads or promotional offers\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePage takes too long to load\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePoor use of headings and subheadings\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAudio and video content that auto plays\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003eHow to Reduce Bounce Rate\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eTarget the right keywords/channels.\u003c/b\u003e\u003cspan\u003e It’s likely that a high bounce rate indicates traffic that does not fit your target market. Use Google Analytics to determine which traffic sources are driving less desirable traffic. Then you can either work to improve them, or terminate the campaigns altogether. If your website is attracting the wrong crowd, you should not be surprised when visitors bounce. Optimizing your keywords and choosing the right channels is key.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eNail interlinking.\u003c/b\u003e\u003cspan\u003e To encourage visitors to browse other pages, add as many organic links to other relevant content, products, and pages, as you can.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBe helpful. \u003c/b\u003e\u003cspan\u003eNot everyone who will land on your site will be ready to make a purchase. Some might be browsing, others may be doing research. Don’t stop at simply providing the product description, try to think from the potential customer’s perspective, what other information could help them make a decision? Elements like customer reviews and customer Q\u0026amp;A can be very persuasive.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eImprove usability. \u003c/b\u003e\u003cspan\u003eDesign a website that is easy to navigate and looks nice so that new visitors will want to stay there. You can enhance the usability of your site by adjusting the size of your headlines, picking out the right fonts, selecting contrasting colors, making use of the white space and bulleted lists, and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/information-architecture\\\"\u003e\u003cspan\u003eimproving the information architecture\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of your pages.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOptimize for mobile. \u003c/b\u003e\u003cspan\u003eThis is one of the key rules that you should not ignore. People are increasingly shopping on their mobiles. A website that provides an enjoyable experience and is responsive will no doubt decrease your bounce rate.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603955721-image13.png\\\" alt=\\\"Page Load Times and Bounce Rates\\\" width=\\\"1000\\\" height=\\\"698\\\"\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-marketing-statistics\\\"\u003e5 Most Important Email Marketing Statistics You Should Track (and How to Improve)\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-statistics\\\"\u003e15 Ecommerce Statistics You Should Track\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/website-personalization\\\"\u003e16 Website Personalization Tricks You Need to Try\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is bounce rate? | Possible reasons for a high bounce rate | How to reduce bounce rate? | Read this article to learn more about bounce rate.\",{\"_258\":286,\"_84\":1034,\"_190\":1032},\"What is Bounce Rate? - Learn How to Reduce Bounce Rate | Oberlo Wiki\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1038,\"_258\":259,\"_260\":1039,\"_59\":163,\"_84\":164,\"_264\":1040,\"_75\":1041,\"_275\":1044,\"_279\":1045,\"_281\":1046,\"_283\":1046,\"_284\":1047,\"_288\":1049,\"_293\":1050},\"eyJsYXN0X2lkIjo1NTk4ODgxMDU0OTQsImxhc3RfdmFsdWUiOjU1OTg4ODEwNTQ5NH0=\",\"gid://shopify/Article/559888105494\",\"2024-05-02T13:03:27Z\",{\"_258\":267,\"_6\":1042,\"_269\":1043,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898634-what-is-a-sitemap.png?v=1714655008\",\"What is a Sitemap?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Sitemap?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA sitemap is a file that provides search engines with detailed information about all the pages and content that your website contains. Sitemaps use organization, navigation, and labeling systems to help Google and other search engines to more intelligently crawl your site.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy are Sitemaps Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eIn general, your website will benefit from having a sitemap because search engines treat it like an invitation to crawl and index the pages listed. There are two types of sitemaps: HTML and XML, each with its own uses and values for \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/seo\\\"\u003e\u003cspan\u003esearch engine optimization\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. However, since the primary focus of HTML sitemaps is to guide shoppers, we’ll focus on the benefits of the XML type, which exists solely to ensure the URLs listed on a site are discovered and indexed by search engine crawlers. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBefore we go into more detail, let’s establish what XML sitemaps \u003c/span\u003e\u003cb\u003edon’t do\u003c/b\u003e\u003cspan\u003e:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003eSubmitting an XML sitemap does not guarantee page indexation. The sitemaps are seen more as recommendations of the URLs you want the search engines to crawl and index. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eXML sitemaps do not add authority. Unlike the HTML links on your website, the URLs listed in an XML sitemap do not pass link authority and have little effect on improving rankings.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan\u003eSo how can an XML sitemap benefit your website? To put it simply, having an XML sitemap passes more data to search engines, which in turn:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eCan help search engine crawlers find and index new URLs on your site\u003c/b\u003e\u003cspan\u003e. If your website is very large, as most \u003ca href=\\\"/ecommerce-wiki/ecommerce\\\"\u003eeCommerce\u003c/a\u003e websites are, web crawlers might find it difficult to discover and index new or updated pages. Having an XML sitemap will point them in the right direction. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCan help search engine crawlers to understand your site content better.\u003c/b\u003e\u003cspan\u003e If you have a lot of content pages on your site that aren’t well linked and don't naturally reference each other, you can use an XML sitemap to inform Google or other search engines about those pages and make sure they don’t get overlooked. Additionally, if your site uses rich media content or other sitemap compatible annotations, an XML sitemap will ensure the bots take the extra information into consideration for search, where appropriate. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCan help boost your SEO\u003c/b\u003e\u003cspan\u003e. If your website is fairly new and you don’t have many external links pointing to it, web crawlers might not discover your pages because they crawl the web by following links from one page to another. You can use an XML sitemap to list all the URLs of your website. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCan help web crawlers prioritize your pages correctly.\u003c/b\u003e\u003cspan\u003e XML sitemaps allow you to add tags to identify the most important pages of your website, telling the bots which pages to focus on first.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eYou should also consider submitting a separate sitemap for images. Sitemaps for images is an extension of an XML sitemap file that will help you optimize images and get them indexed by search engines. The purpose of an image sitemap is to list all the images that are part of a page and get them indexed to generate traffic from image search results. The image sitemaps feature image-specific tags, such as ALT and Title attributes, image caption, and SEO-friendly image names that give web crawlers more information about the images on your site’s URLs and improve their rankings in image search results. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Submit Your Sitemap to Google Search Console? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTo help Google quickly scan your pages for content, you can submit your XML sitemap in a few simple steps:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003eVerify your site with Google. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eSign in to \u003c/span\u003e\u003ca href=\\\"https://www.google.com/webmasters/#?modal_active=none\\\"\u003e\u003cspan\u003eGoogle Search Console\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eSelect the website whose sitemap you want to submit. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eClick the Sitemaps button. \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eClick Add/Test Sitemap.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eType in “sitemap.xml” and click Submit Sitemap.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan\u003eAnd that’s it! \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003ePopular XML Sitemap Tools\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are a few popular sitemap tools that can help you generate an XML sitemap of your site automatically:\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://code.google.com/p/googlesitemapgenerator/\\\"\u003e\u003cspan\u003eGoogle Webmaster Tools Sitemap Generator\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.xml-sitemaps.com/\\\"\u003e\u003cspan\u003eXML-Sitemaps.com\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.sitemaps-builder.com/\\\"\u003e\u003cspan\u003eSitemaps-Builder.com\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.smart-it-consulting.com/internet/google/submit-validate-sitemap/\\\"\u003e\u003cspan\u003eGoogle Sitemap Validator\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.writemaps.com/\\\"\u003e\u003cspan\u003eWriteMaps\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.sitemapdoc.com/Default.aspx\\\"\u003e\u003cspan\u003eSitemapDoc\u003c/span\u003e\u003c/a\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/image-search-engine\\\"\u003eBest Image Search Engine: How to Search Images on Google Easily\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/beginners-guide-google-shopping-ads\\\"\u003eHow to Sell and Advertise on Google\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eThe Beginner’s Guide to Dropshipping SEO\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ultimate-guide-writing-meta-descriptions\\\"\u003eThe Ultimate Guide to Writing Meta Descriptions\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is a Sitemap? | Why are sitemaps important? | Popular XML sitemap tools | Learn how to submit your sitemap to Google Search Console.\",{\"_258\":286,\"_84\":1048,\"_190\":1046},\"Sitemap: What Are They and Why They Important for Ecommerce Websites\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1052,\"_258\":259,\"_260\":1053,\"_59\":1054,\"_84\":1055,\"_264\":1056,\"_75\":1057,\"_275\":1060,\"_279\":1061,\"_281\":1062,\"_283\":1062,\"_284\":1063,\"_288\":1065,\"_293\":1066},\"eyJsYXN0X2lkIjo1NTk4ODgxMzgyNjIsImxhc3RfdmFsdWUiOjU1OTg4ODEzODI2Mn0=\",\"gid://shopify/Article/559888138262\",\"buyer-persona\",\"Buyer Persona\",\"2024-05-02T13:03:29Z\",{\"_258\":267,\"_6\":1058,\"_269\":1059,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953980-what-is-a-buyer-persona.png?v=1714655009\",\"What is a Buyer Persona\",[277,278],\"\u003ch2\u003e\u003cspan\u003eThe Definition of a Buyer Persona\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA buyer persona is a fact-based representation of the person who will spend money with you. This profile is created through \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/market-research\\\"\u003e\u003cspan\u003emarket research and collecting online data\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e about your existing buyers. Important information to collect includes demographics, behavior patterns, motivations, and goals.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt is critical to note that a buyer persona is not necessarily the person who will use your end product, it is the person who makes the ultimate decision to buy the product. Examples of buyer personas are parents who buy toys for their kids, and the purchasing department in a company.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eHow to Create a Buyer Persona\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCreating a buyer persona can be a long process due to the need to collect and interpret various types of data. Because buyer personas are different from normal customers, you should decide if the end-user and buyer are the same people for your product. \u003c/span\u003e\u003ca href=\\\"https://blog.hubspot.com/marketing/buyer-persona-research\\\"\u003e\u003cspan\u003ePlan scenarios\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to understand if you need to build both a buyer and user persona. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBelow is a four-step procedure you can follow to create your buyer persona. Keep in mind that it can take days, weeks, or months to finish depending on your resources.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 1: Gather Data\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eFirstly you should put together a list of data points you collect on previous and potential customers. This could include specifics from your sales and marketing system, email list, social media, etc. It is critical to ask yourself if the customer information you are looking at comes from the buyer or end-user. Creating two buckets for your data can make this process easier. Place buyer persona details into one bucket and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/user-persona\\\"\u003e\u003cspan\u003eend-user persona details into another\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eNow you’ll have a pool of buyers that you can start to gather details from. At this point, it is a good idea to carry out user research with this group of people. User research will allow you to ask \u003c/span\u003e\u003ca href=\\\"https://www.buyerpersona.com/what-is-a-buyer-persona\\\"\u003e\u003cspan\u003epertinent questions about purchasing behavior\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that can highlight important information to pass to product development or marketing. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 2: Identify Trends\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eOnce you have gathered all the facts you can about your buyers, you can start to extrapolate trends from the information. At this stage, you should have a sample size that is big enough to pull valuable details from. For instance, if you can only find data points relating to 20 buyers within your systems this simply isn’t enough data. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBuilding a persona from this information could have a detrimental effect on your business. In this case, it is likely that you will need to do extensive user research with people who fit your ideal buyer representation, and market research to build out your trends.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eStep 3: Create Buyer Personas\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eNext, you want to develop the actual persona which you can start from scratch or \u003c/span\u003e\u003ca href=\\\"https://optinmonster.com/how-to-create-a-concrete-buyer-persona-with-templates-examples/#templates\\\"\u003e\u003cspan\u003euse a template\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Building out a buyer persona is the same as a user persona only with a different type of person in mind sometimes. \u003c/span\u003e\u003ca href=\\\"https://www.singlegrain.com/buyer-personas/complete-guide-developing-using-buyer-personas/\\\"\u003e\u003cspan\u003eCommon elements\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to both personas include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eName\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003ePhoto\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDemographics\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eBrief Description\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eFrustrations\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eGoals and Motivations\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOnline and Offline Behavior\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cspan\u003e\u003ca href=\\\"https://www.myproductroadmap.com/collections/buyer-personas/products/buyerpersona001\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603953981-buyerpersona-my-product-roadmap.jpg\\\" alt=\\\"BuyerPersona - My Product Roadmap\\\" width=\\\"1024\\\" height=\\\"576\\\"\u003e\u003c/a\u003eStep 4: Distribute\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eDistributing the buyer persona to your sales and marketing department can ensure that collateral is updated to mirror this new information. Salespeople can now have more meaningful conversations as they understand their point of contact in a business better.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is a Buyer Persona Important?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA buyer persona is important for many reasons. Having well-defined personas can help many different departments within a business. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eMarketing Department. \u003c/b\u003e\u003cspan\u003eWhen a marketing department is creating information around a product it is important to keep the buyer and the end-user in mind. Sometimes these are different people so messaging has to be altered. For instance, \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003e\u003cspan\u003ea landing page on the website\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e needs to mention features (for the end-user) and pricing (for the buyer) both prominently on the page, in order to speak to both audiences simultaneously. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eSales Department. \u003c/b\u003e\u003cspan\u003eEvery sales department needs collateral to provide to their potential customers. This could be drafted outreach emails, posters, presentations, etc. Using a buyer persona to inform all this collateral means that information is more targeted and to the point. Having clearer details \u003c/span\u003e\u003ca href=\\\"/blog/customer-relations-ultimate-guide#2_Obsess_Over_Your_Customers\\\"\u003e\u003cspan\u003emeans higher conversion rates as customers feel more trust in you\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eProduct Development. \u003c/b\u003e\u003cspan\u003eProduct development is hinged on creating a product that customers will love, but sometimes this goes out the window when the buyer is not the end-user. Think of a toy that a child would love, but looks unsafe to use. There is no way that a parent will buy this for their child. Your product development department needs to work alongside your buyer persona to make sure all necessary steps are taken to make your product appealing to your user and buyer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eCustomer Service. \u003c/b\u003e\u003cspan\u003eFinally, your customer service department needs to be aware that sometimes the product user might not be the person contacting them, it could be a buyer. In this case, a simple request might be more complex, as the buyer might not understand the intricate details of the product. Customer service agents need to be patient and understanding so they can give the best possible information to the buyer. Providing buyer personas to agents can \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/customer-service\\\"\u003e\u003cspan\u003egreatly improve customer service satisfaction\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/customer-relations-ultimate-guide\\\"\u003e\u003cspan\u003eHow to Harness the Awesome Power of Customer Relations\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/why-nobody-is-buying-from-your-store\\\"\u003e\u003cspan\u003eWhy Nobody is Buying From Your Store – and What You Can Do About It\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003e\u003cspan\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/customer-service\\\"\u003e\u003cspan\u003e8 Ways to Optimize Your Ecommerce Customer Support\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"A buyer persona is a representation of the person who will spend money with you. Let’s look at the value of creating this type of persona for your business\",{\"_258\":286,\"_84\":1064,\"_190\":1062},\"Buyer Persona: The Definition \u0026 Impact on Your Business - Ecommerce Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1068,\"_258\":259,\"_260\":1069,\"_59\":1070,\"_84\":1071,\"_264\":1072,\"_75\":1073,\"_275\":1076,\"_279\":1077,\"_281\":1078,\"_283\":1078,\"_284\":1079,\"_288\":1081,\"_293\":1082},\"eyJsYXN0X2lkIjo1NTk4ODgxNzEwMzAsImxhc3RfdmFsdWUiOjU1OTg4ODE3MTAzMH0=\",\"gid://shopify/Article/559888171030\",\"information-architecture\",\"Information Architecture (IA)\",\"2024-05-02T13:03:30Z\",{\"_258\":267,\"_6\":1074,\"_269\":1075,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898643-what-is-information-architecture.png?v=1714655011\",\"What is Information Architecture?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Information Architecture?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eInformation Architecture (IA) is the practice of organizing, structuring and labeling information in a way that makes it easy to find and understand, both in the real world and online. IA encompasses sitemaps, navigation, categorizations, hierarchies, and content types. It directly impacts user experience and on-site conversion rate.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eInformation Architecture of eCommerce Stores\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAs leading information architect Jakob Nielsen put it: \u003c/span\u003e\u003cspan\u003e“If the customer can’t find the product, the customer can’t buy it”.\u003c/span\u003e\u003cspan\u003e Simple as that. Good information architecture can be a central factor in determining your online store’s success. You want your customer to intuitively find what they’re after from the moment they land on the homepage of your site to when they complete the purchase. Excellent \u003ca href=\\\"/ecommerce-wiki/user-experience-ux\\\"\u003euser experience\u003c/a\u003e, clean design, and organized navigation are the non-negotiable elements for profitable online shops. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhen you’re planning your store’s navigation, think of it as a bunch of neatly organized folders and subfolders with the most important pages sitting at the top, in the main navigation. Can your customers access the \u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003etop landing pages\u003c/a\u003e from your homepage in one click? Because they should be able to. It sounds like a no-brainer, but it’s a common mistake that can cost you dearly. Make sure your online store is organized in a logical, top-down structure that has the main categories crumble down into narrower subcategories and ultimately lead the customer to a product page. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt’s important to consolidate your main categories as much as possible, but you must make space for your bestselling products. If a particular type of product is bringing you a lot of money, ensure that that category is given a premium spot in your navigation. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo help your customers quickly find where they are on the site, employ the breadcrumbs navigation system. It will keep track of your customer’s navigation path as they go deeper into a chosen category and display that path to the customer in a clickable, text-based format at the top of the page to provide shortcuts and improve usability. For example, a breadcrumb for an online store’s women trainers product page would look like this: Home \u0026gt; Women \u0026gt; Shoes \u0026gt; Trainers.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eThe Benefits of Information Architecture \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAs a critical component of any online store, Information Architecture affects a wide range of different aspects. The easiest way to measure the effectiveness of IA is by monitoring \u003c/span\u003euser experience\u003cspan\u003e. A site that is intuitive and easy to navigate will delight visitors, make their search a breeze and entice them to come back for more. Besides the obvious methods of evaluating the user-friendliness of your site, such as usability testing, you can look at the following metrics as accurate indicators of the UX performance: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eBounce rate. \u003c/b\u003e\u003cspan\u003eThe attention span of online shoppers is notoriously short. If they can’t find what they’re looking for in the first ~10s, they’ll most likely leave. Although IA is only one of many factors influencing the bounce rate, this metric is a good indicator of issues affecting your store’s profitability and should be monitored constantly. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eConversion rate.\u003c/b\u003e\u003cspan\u003e Naturally, customers who enjoy browsing the site and effortlessly find what they need are more likely to follow through and complete their purchase. If all the elements of the site work in harmony and smart marketing tactics, such as \u003ca href=\\\"/ecommerce-wiki/upselling\\\"\u003eupselling\u003c/a\u003e and \u003ca href=\\\"/ecommerce-wiki/cross-selling\\\"\u003ecross-selling\u003c/a\u003e, are executed to perfection, the conversion rate typically gets a significant uplift. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cb\u003eHow To Do It Right? \u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere are a number of things you need keep in mind when designing the Information Architecture of your site, but user experience should always be at the heart of it. The best practices of IA design include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eUnderstand your user\u003c/b\u003e\u003cspan\u003e – you are not a user, so don’t design based on your own preferences as it will lead to poor performance. Carry out user interviews, experiment with \u003ca href=\\\"/ecommerce-wiki/ab-testing\\\"\u003eA/B tests\u003c/a\u003e or collect user feedback in other ways, but be sure to do your research. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBe purpose-driven\u003c/b\u003e\u003cspan\u003e – the primary goal of an eCommerce store is to sell. Your site should be structured in such a way that gently nudges customers closer to the end goal and influences their buying decision. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBe consistent\u003c/b\u003e\u003cspan\u003e – good usability demands for the information to be displayed in predictable patterns, as it makes it easier for customers to navigate. Therefore, pick a design or pattern and stick to it throughout the entire site.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/create-great-product-page\\\"\u003eHow to Create a Great Product Page\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-choose-ecommerce-store-theme\\\"\u003eShopify Themes: How to Pick the Best Shopify Theme for Your eCommerce Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Information Architecture? | Information Architecture of eCommerce stores | The Benefits of Information Architecture | Read this article...\",{\"_258\":286,\"_84\":1080,\"_190\":1078},\"What is Website Information Architecture (IA)? - How to do it right? | Oberlo\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1084,\"_258\":259,\"_260\":1085,\"_59\":1086,\"_84\":1087,\"_264\":1088,\"_75\":1089,\"_275\":1092,\"_279\":1093,\"_281\":1094,\"_283\":1094,\"_284\":1095,\"_288\":1097,\"_293\":1098},\"eyJsYXN0X2lkIjo1NTk4ODgyMDM3OTgsImxhc3RfdmFsdWUiOjU1OTg4ODIwMzc5OH0=\",\"gid://shopify/Article/559888203798\",\"landing-page\",\"Landing Page\",\"2024-05-02T13:03:32Z\",{\"_258\":267,\"_6\":1090,\"_269\":1091,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898917-what-is-a-landing-page.png?v=1714655012\",\"What is a Landing Page\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a Landing Page?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA landing page is a unique, standalone web page designed solely to drive a single conversion objective. The objectives of a landing page can vary from capturing a visitor’s data through a lead form to persuading users to click-through to another page.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eTypes of Landing Pages\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eIt’s important to understand that all landing pages are essentially web pages, but not all web pages are landing pages. For instance, your homepage is not a landing page because it’s built to perform multiple functions and has various objectives. A key characteristic of any landing page is that it’s designed to achieve a single objective, but that objective varies based on the type of landing page. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eLanding pages are an excellent marketing tool to \u003c/span\u003e\u003cb\u003edrive direct sales\u003c/b\u003e\u003cspan\u003e (product landing page in \u003ca href=\\\"/blog/what-is-ecommerce\\\"\u003eeCommerce\u003c/a\u003e), \u003c/span\u003e\u003cb\u003egenerate leads\u003c/b\u003e\u003cspan\u003e (commonly used in content marketing), and \u003c/span\u003e\u003cb\u003ebuild relationships\u003c/b\u003e\u003cspan\u003e (focused on micro-conversions). There are essentially 6 different types of landing pages, each with a distinct purpose:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eLead generation landing page. \u003c/b\u003eA lead form that is designed to gather user information (name, email address, company, etc.) is a key element of a lead gen page. The purpose of this page is to convince visitors to leave their information, so there are usually no distractions, such as navigation links or other \u003ca href=\\\"/ecommerce-wiki/call-action-cta\\\"\u003eCTAs\u003c/a\u003e, that could possibly divert people’s attention elsewhere.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eClick-through landing page.\u003c/strong\u003e \u003cspan\u003eTypically used in eCommerce funnels, the click-through page aims to persuade the visitor to click through to another page, serving as a ”warm-up” step before introducing the actual offer or completing the purchase. The purpose of this page is to provide more information and highlight product benefits in order to bring visitors closer to making a buying decision.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eSqueeze landing page.\u003c/strong\u003e \u003cspan\u003eThe sole purpose of a squeeze page is to capture email addresses and it can be a very effective tactic to grow an email list. Visitors are required to input their email addresses to proceed further into the site.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eSplash landing page\u003c/strong\u003e. \u003cspan\u003eSplash page is an intro page that greets visitors before they enter the site. It’s commonly used to draw visitors’ attention to important information, such as the latest release or a warning, however, is disliked among web users.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eSales landing page.\u003c/strong\u003e \u003cspan\u003eA sales page is built to drive conversions. It aims to provide all the information that a customer might need when making a purchasing decision. These landing pages come in two types: short and long-form. A short-form page is typically used for cheaper products and makes use of a single CTA button. A long-form landing page is useful when selling more complex products and services that call for extensive evidence and information. Long-form pages typically have two CTA buttons – one at the top of the page and one at the bottom.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003ePitch landing page.\u003c/strong\u003e \u003cspan\u003eA pitch landing page is usually used to showcase a product and accentuate its benefits. It puts less importance on the lead form and lets the product take the central stage.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Optimize a Landing Page?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTargeted landing pages can help you increase the likelihood of converting traffic from advertising, email, or social media campaigns into leads. By aligning your campaign goal with the goal of a targeted landing page, you’re minimizing the risk of visitors dropping off, and have created a smooth experience. First, decide what action you want the visitor to take and then build a landing page that focuses solely on prompting that one action. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIf you start looking into \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003econversion optimization\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e tactics to improve your store’s performance, you will quickly notice that landing page optimization is an integral part of that process. You won’t be able to achieve a robust ROI on your marketing efforts (PPC ads, social media ads, email marketing, etc.) if your landing page bounce rate is through the roof. Keep in mind that landing page optimization is a long-term game that will require heaps of experimentation and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/ab-testing\\\"\u003e\u003cspan\u003eA/B testing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, but there are some general rules of thumb that you can follow to apply the best practices. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eQuick eCommerce product page optimization tips (make sure you A/B test everything): \u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eOptimize product copy. \u003c/b\u003e\u003cspan\u003ePunchy, keyword-optimized product descriptions and titles will help you attract and convert the right customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eGet the product images right.\u003c/b\u003e\u003cspan\u003e Use high-quality, large, dynamic imagery with multiple angle shots. Implement a product zoom feature to allow your customers to get a closer look at product details.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eMake use of buyer reviews.\u003c/b\u003e\u003cspan\u003e Plugging customer reviews directly into product pages can help you increase trust and conversions, but be sure to test it before you run with it.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eIncrease sales and drive traffic with \u003ca href=\\\"/ecommerce-wiki/wishlists\\\"\u003ewish lists\u003c/a\u003e. \u003c/b\u003eAdding “want” or “save for later” buttons can help your customers remember what they wanted to buy but weren’t ready to commit.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eLeverage \u003c/b\u003e\u003ca href=\\\"/ecommerce-wiki/cross-selling\\\"\u003e\u003cb\u003ecross-selling\u003c/b\u003e\u003c/a\u003e\u003cb\u003e and \u003ca href=\\\"/ecommerce-wiki/upselling\\\"\u003eupselling\u003c/a\u003e tactics.\u003c/b\u003e\u003cspan\u003e Personalize your product recommendations to increase the average order value.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAdd live chat support \u003c/b\u003e\u003cspan\u003eto assist your customers and reduce the \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/bounce-rate\\\"\u003e\u003cspan\u003ebounce rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. You can also use live chat transcripts to identify product information gaps.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eUse product videos. \u003c/b\u003e\u003cspan\u003eOne way to increase conversions is to tap into the power of video and help customers visualize the products better.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cb\u003eProminently display shipping information.\u003c/b\u003e\u003cspan\u003e Communicate the shipping costs and delivery timeframes early on to prevent customers from dropping off later in the buying journey.\u003c/span\u003e\u003cbr\u003e\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/create-great-product-page\\\"\u003eHow to Create a Great Product Page\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-choose-ecommerce-store-theme\\\"\u003eShopify Themes: How to Pick the Best Shopify Theme for Your eCommerce Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/powerful-product-pages\\\"\u003eThe Ultimate Guide to Building Powerful Product Pages\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is a Landing Page? | Types of Landing Pages | Read this article to learn more about Landing Pages and how to optimize them.\",{\"_258\":286,\"_84\":1096,\"_190\":1094},\"What is Landing Page? - Learn How to optimize a Landing Page | Oberlo\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1100,\"_258\":259,\"_260\":1101,\"_59\":1102,\"_84\":1103,\"_264\":1104,\"_75\":1105,\"_275\":1108,\"_279\":1109,\"_281\":1110,\"_283\":1110,\"_284\":1111,\"_288\":1113,\"_293\":1114},\"eyJsYXN0X2lkIjo1NTk4ODgyMzY1NjYsImxhc3RfdmFsdWUiOjU1OTg4ODIzNjU2Nn0=\",\"gid://shopify/Article/559888236566\",\"target-market\",\"Target Market\",\"2024-05-02T13:03:33Z\",{\"_258\":267,\"_6\":1106,\"_269\":1107,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898634-what-is-a-target-market.png?v=1714655014\",\"What is a Target Market?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is a Target Market?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA target market is a \u003c/span\u003e\u003ca href=\\\"/blog/target-audience\\\"\u003e\u003cspan\u003esegment of potential customers who are more likely to buy a product\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e or service from you. This target market could be based on geography, demographics, psychographics, or other defining features. A target market is essential in successful marketing campaigns as it describes the type of people you want to single out.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eDefining Target Markets\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTarget markets can be hard to define without doing some research first. Once you have chosen a product or service to sell you can look at your competitors and unearth who their target market is. Sometimes it can be easy to figure out due to language, imagery or the company defines their market publicly. Other times it is not clear if there is a target market for a product. For example, it is assumed that Lego’s target market is \u003c/span\u003e\u003ca href=\\\"https://www.slideshare.net/AdrienneMallari/lego-a-marketing-analysis-presentation\\\"\u003e\u003cspan\u003echildren between 2-12 years old\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e but they also talk to older kids and adults who want to experience the naivety of childhood again. So it is hard to understand a target market when companies don’t make it clear.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eDefining your target market can be easier though. There are many places to find information on your potential target audience.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eOnline Research\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eYou can look at people who previously purchased your product or talked about it online. \u003c/span\u003e\u003ca href=\\\"/blog/social-media-tools\\\"\u003e\u003cspan\u003eSearch social media for mentions\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of your brand or competitors and profile those who are talking about you. If they speak in a negative light find out why and refrain from talking about that.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAnalytics\u003c/b\u003e\u003cspan\u003e:\u003cbr\u003eCheck your analytics data to find out the age, target demographics, geographics, etc to build a better persona of your target audience. \u003c/span\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003e\u003cspan\u003eGoogle Analytics\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e is a free tool which will collect this information for you. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/ecommerce-wiki/market-research\\\"\u003e\u003cb\u003eFocus Groups\u003c/b\u003e\u003c/a\u003e\u003cspan\u003e:\u003cbr\u003eConduct focus groups with cohorts of people who you think will enjoy your product and ask them hard-hitting questions that will inform you of the key traits of your target market.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eTarget Market Segmentation\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOnce you have defined your target market you may find that it is too broad to create a targeted marketing campaign or \u003c/span\u003e\u003ca href=\\\"/blog/write-epic-product-descriptions\\\"\u003e\u003cspan\u003eproduct description\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to entice as many sales as possible. This is where you would segment your target market into sections based on one or more particular attributes. The most popular sectionings are age or geography. Using age, marketing collateral can be broken into different messages based on the solution a product solves for this audience segment. Other target market segmentation includes, but are not limited to:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eRelationship Status\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eInterests\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eBuyer Behaviour\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eTechnology\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIncome\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eEducation\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eProfession \u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eTarget Market Examples\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are four categories that a target market normally fits into. These four categories are a mixture of broad and limiting attributes that can be part of a profile. Not all of them are important to include in a target market profile, sometimes it is okay to only use one category. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eGeographic\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eA product or service might only appeal to a target market in a small geographic area so the is no point in creating content outside of this language, value set, and location. A geographic target market example is the postal services for any country. Normally the only people using these services are living within the country, therefore, it is not important to create in-depth content in different languages.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eDemographic\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eTarget demographic data \u003c/span\u003e\u003ca href=\\\"https://www.smartinsights.com/digital-marketing-strategy/customer-segmentation-targeting/segmentation-targeting-and-positioning/\\\"\u003e\u003cspan\u003erevolves around personal information\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e including age, education, income, gender, relationship status, etc. This information can be important when choosing your target market as it could outline how important the product is to a person, or what price they can afford to pay for it. A demographic target market example is \u003c/span\u003e\u003ca href=\\\"https://techfee.com/different-target-audiences-for-starbucks/\\\"\u003e\u003cspan\u003eStarbucks customers\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e who are between the ages of 25-44 who are high earners (above $80k in the US).\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003ePsychographic\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003ca href=\\\"/blog/psychographics\\\"\u003e\u003cspan\u003ePsychographics are qualitative human characteristics (opinions, behaviors, and attitudes)\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that help to identify more about a person than just demographics. Our opinions can be something as simple as whether we like warm or cold weather, or as complex as our political affiliation. Our interests can be broad like indoor sports or niche like collecting decorative soaps. And our activities can be as straightforward as fitness or elaborate as plane spotting. \u003c/span\u003e\u003cspan\u003eA psychographic target market example is\u003c/span\u003e\u003cspan\u003e creating targeted advertising for new djaying software to people interested in djaying. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBehavioristic\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThis final category is based on understanding buying behavior to \u003c/span\u003e\u003ca href=\\\"https://edwardlowe.org/how-to-identify-a-target-market-and-prepare-a-customer-profile/\\\"\u003e\u003cspan\u003ecomprehend if a customer will buy from you\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. This would include knowing what brands a customer holds loyal, how much money they are willing to pay for items similar to yours, and how often they buy items like yours. These attributes are important to know as even if a target market includes highly informed target demographic information, if they have brand loyalty towards your competitor, or if they only buy a luxury product like yours once a year, it may be hard to target them no matter how hard you try.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003e\u003cspan\u003eEmail Marketing Strategies to Turn More Prospects Into Paying Customers\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/market-segmentation\\\"\u003e\u003cspan\u003eWhat is Market Segmentation? Learn How to Segment Your Customers\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/impulse-buyers\\\"\u003e\u003cspan\u003eHow to Make Sales From Impulse Buyers\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-start-a-dropshipping-business\\\"\u003e\u003cspan\u003eHow to Start a Dropshipping Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Target Markets are a segment of potential customers who are likely to buy your product. This target market could be based on geography, demographics, psychographics, and much more.\",{\"_258\":286,\"_84\":1112,\"_190\":1110},\"Discover what a Target Market is \u0026 How to Find the Right One For Your Product\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1116,\"_258\":259,\"_260\":1117,\"_59\":1118,\"_84\":1119,\"_264\":1120,\"_75\":1121,\"_275\":1124,\"_279\":1125,\"_281\":1126,\"_283\":1126,\"_284\":1127,\"_288\":1129,\"_293\":1130},\"eyJsYXN0X2lkIjo1NTk4ODgyNjkzMzQsImxhc3RfdmFsdWUiOjU1OTg4ODI2OTMzNH0=\",\"gid://shopify/Article/559888269334\",\"search-engine-marketing-sem\",\"Search Engine Marketing (SEM)\",\"2024-05-02T13:03:36Z\",{\"_258\":267,\"_6\":1122,\"_269\":1123,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898637-what-is-search-engine-marketing.png?v=1714655016\",\"What is Search Engine Marketing?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Search Engine Marketing (SEM)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eSearch Engine Marketing (SEM) is an umbrella term that refers to the process of driving traffic and gaining visibility from search engines through paid ads (SEM) and free, organic listings (SEO). The paid SEM efforts usually take shape of PPC (pay-per-click) and CPC (cost-per-click) ads.\u003c/p\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603966848-search-engine-marketing.jpg\\\" alt=\\\"search engine marketing\\\" width=\\\"1600\\\" height=\\\"1341\\\"\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is a SERP?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSERP, short for \u003c/span\u003e\u003cb\u003es\u003c/b\u003e\u003cspan\u003eearch \u003c/span\u003e\u003cb\u003ee\u003c/b\u003e\u003cspan\u003engine \u003c/span\u003e\u003cb\u003er\u003c/b\u003e\u003cspan\u003eesults \u003c/span\u003e\u003cb\u003ep\u003c/b\u003e\u003cspan\u003eage, is the page served to a user by a search engine in response to a search query. Typically, SERPs contain two types of content: organic (\u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/seo\\\"\u003e\u003cspan\u003eSEO\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e) and paid (SEM). \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eThe Most Popular Search Engines \u003c/b\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eGoogle. \u003c/b\u003e\u003cspan\u003eThe world’s biggest search engine with 77.82% of the global market share, Google is a marketer’s primary choice for both paid and organic reach. Google has 1.6 billion estimated unique monthly visitors worldwide. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBing. \u003c/b\u003e\u003cspan\u003eBing has 400 million estimated unique monthly visitors and 7.96% of the global market share. Bing often generates twice as many autocomplete suggestions as Google and has a great video search, therefore Bing Ads are also a popular advertising option among marketers. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eBaidu. \u003c/b\u003e\u003cspan\u003eBaidu is the most popular search engine in China with over 80% of the Chinese market share and 6.37% of the global market share. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eYandex.\u003c/b\u003e\u003cspan\u003e Yandex is the leading search engine in Russia and other Russian-speaking countries (Belarus, Ukraine, Kazakhstan) with about 60% market share. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eYahoo. \u003c/b\u003e\u003cspan\u003eWith 300 million estimated unique monthly visitors, Yahoo has 6.58% of the global market share and mainly competes with Bing. It’s worth noting though that Verizon has purchased Yahoo for $4.8 billion dollars and is planning to merge it with AOL, which has 125 million estimated unique monthly visitors and 0.13% of the global market share.\u003c/span\u003e \u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWhat do You Need to Know About SEM?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eGenerally, marketers use a mix of different paid and organic search marketing techniques to drive traffic to their site. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003ci\u003e\u003cspan\u003ePaid ads encompass: \u003c/span\u003e\u003c/i\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003eSearch ads (\u003c/span\u003e\u003cspan\u003eAds\u003c/span\u003e\u003cspan\u003e, Bing Ads)\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eProduct Listing ads or Shopping ads\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDisplay \u0026amp; Banner ads\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMobile ads\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eSocial Media ads (Facebook, \u003ca href=\\\"/blog/the-beginners-guide-to-linkedin-ads\\\"\u003eLinkedIn ads\u003c/a\u003e, Twitter, Instagram, Pinterest)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eRetargeting \u0026amp; Remarketing\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eIn-App ads\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003ci\u003e\u003cspan\u003eSEO encompasses:\u003c/span\u003e\u003c/i\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cspan\u003eOn-page SEO (\u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/keyword-research\\\"\u003e\u003cspan\u003ekeyword optimization\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, content creation, \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/information-architecture\\\"\u003e\u003cspan\u003einformation architecture\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, internal linking, UX, social proof, social media integration, etc.)\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOff-page SEO (link building, XML \u003ca href=\\\"/ecommerce-wiki/sitemap\\\"\u003esitemaps\u003c/a\u003e)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eViolations\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eAll search queries can be classified into three main types:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eInformational:\u003c/b\u003e\u003cspan\u003e has very low commercial intent, the user is looking for more information on a given topic; \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eNavigational: the \u003c/b\u003euser is trying to locate a website whose URL they can no longer remember or a similar navigational objective;\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eTransactional:\u003c/b\u003e\u003cspan\u003e has high commercial intent, user is looking to make a purchase. Transactional SERPs are typically the ones that feature paid ads.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eSearch query types can also suggest wherein the buyer’s journey the user is, allowing marketers to apply the right \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-funnel\\\"\u003e\u003cspan\u003econversion funnel\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e optimization techniques. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eOrganic search is extremely important for online retailers, as many studies suggest it drives around \u003c/span\u003e\u003ca href=\\\"https://searchengineland.com/study-organic-search-drives-51-traffic-social-5-202063\\\"\u003e\u003cspan\u003e50%\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of website traffic. When it comes to \u003ca href=\\\"/blog/ecommerce-seo\\\"\u003esearch engine optimization for \u003c/a\u003e\u003c/span\u003e\u003ca href=\\\"/blog/ecommerce-seo\\\"\u003e\u003cspan\u003eeCommerce\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, marketers get obsessive about testing all methods available to them to try and achieve higher rankings. The logic is very simple: higher positions on SERPs automatically result in higher impressions and a significantly better \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/click-through-rate-ctr\\\"\u003e\u003cspan\u003eclick-through rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. More people visiting your store should ultimately translate into better \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cspan\u003econversions\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and higher revenues.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003ePaid search advertising focuses on investing in the right types of ads to achieve prominent positions on search engine results pages and drive traffic to the site. Well-optimized search ads can sometimes achieve higher positions than organic search results, while others might be displayed on the right side of the browser page. The success of paid search campaign rests on targeting the right \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/keyword-research\\\"\u003e\u003cspan\u003ekeywords\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and selecting optimal advertising channels. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many search engine marketing tools that can help you optimize both paid and organic search campaigns. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003ePrimary tools:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.google.com/analytics/\\\"\u003e\u003cspan\u003eGoogle Analytics\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.google.com/webmasters/tools/home\\\"\u003e\u003cspan\u003eGoogle’s Search Console\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://ads.google.com/home/tools/keyword-planner/\\\"\u003e\u003cspan\u003eGoogle’s Keyword Planner\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eAdditional tools to help you optimize your SEO:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"https://moz.com/researchtools/ose/\\\"\u003e\u003cspan\u003eOpen Site Explorer\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://authoritylabs.com/\\\"\u003e\u003cspan\u003eAuthority Labs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://ahrefs.com/\\\"\u003e\u003cspan\u003eAhRefs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://moz.com/tools/keyword-difficulty\\\"\u003e\u003cspan\u003eMOZ Keyword Explorer\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.semrush.com/\\\"\u003e\u003cspan\u003eSEMRush\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.wordstream.com/products?camplink=mainnavbar\u0026amp;campname=WhatWeOffer\\\"\u003e\u003cspan\u003eWordStream\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/image-search-engine\\\"\u003eBest Image Search Engine: How to Search Images on Google Easily\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/beginners-guide-google-shopping-ads\\\"\u003eHow to Sell and Advertise on Google\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eThe Beginner’s Guide to Dropshipping SEO\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ultimate-guide-writing-meta-descriptions\\\"\u003eThe Ultimate Guide to Writing Meta Descriptions\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is SERP? | The Most Popular Search Engines | What do you need to know about SEM? | Read this article to learn more about SEM.\",{\"_258\":286,\"_84\":1128,\"_190\":1126},\"Search Engine Marketing (SEM): What Is It and Why Is It Important to SMBs\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1132,\"_258\":259,\"_260\":1133,\"_59\":1134,\"_84\":1135,\"_264\":1136,\"_75\":1137,\"_275\":1140,\"_279\":1141,\"_281\":1142,\"_283\":1142,\"_284\":1143,\"_288\":1145,\"_293\":1146},\"eyJsYXN0X2lkIjo1NTk4ODgzMDIxMDIsImxhc3RfdmFsdWUiOjU1OTg4ODMwMjEwMn0=\",\"gid://shopify/Article/559888302102\",\"conversion-rate\",\"Conversion Rate (CRO)\",\"2024-05-02T13:03:38Z\",{\"_258\":267,\"_6\":1138,\"_269\":1139,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898650-what-is-conversion-rate-optimization.png?v=1714655019\",\"What is Conversion Rate Optimization?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Conversion Rate Optimization?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eConversion rate is the percentage of visitors who take your desired action on the page, whether that’s completing a registration form, downloading an ebook, or making a purchase.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eConversion rate optimization (CRO) is a data-driven process for increasing the percentage of visitors who take a specific action and convert. The conversion rate optimization is calculated by dividing the number of people who convert by the number of people who are asked to take an action. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is Conversion Rate Optimization Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eEssentially, there are two ways to grow an online business: drive more traffic to a website in hopes to increase sales or improve the conversion rate and turn the current traffic into paying customers. Running rigorous experiments on your website and leveraging that data to improve conversions is a much cheaper and more effective strategy that will continue to generate sales in the future. Optimizing your conversion rate also means you cut down on the cost of acquiring new users significantly, which positively impacts your bottom line and improves the ROI on your marketing spend.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIn eCommerce in particular, conversions happen at every stage of a customer’s buying journey, as they are dependent on the purpose that a certain part of a website serves. For example, a customer clicking through a product image is a conversion because it nudges him down the funnel and closer to making a purchase. By removing friction and making the conversion paths shorter and smoother, you’re creating more sales opportunities and accelerating the sales process. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo maximize the value of the traffic you already have, you need to engage in constant testing, experimentation, and active listening and fine-tune every aspect of your eCommerce website for higher conversions. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Optimize Conversion Rate?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eConversion rate optimization is a long process of meticulous experimentation often executed through A/B testing. The first step before you start testing anything is to examine your website’s sales funnel and identify friction points that could be improved in order to achieve higher conversions. The best way to gather this type of data is to dive into your Google Analytics account and study conversion reports to see how people are moving through your site as well as identify where they drop off. \u003c/span\u003e\u003ca href=\\\"https://www.hotjar.com/\\\"\u003e\u003cspan\u003eHotjar\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, which utilizes heatmaps and records user actions on-site, is another great tool for data gathering. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eHaving crunched the data and determined potential conversion issues, you then move on to deciding what aspects of your website you want to run experiments on. This will depend on the conversion goal you’re optimizing for. In Google Analytics, goals are used to measure how visitors complete a certain task and navigate a website. An example of a goal could be a newsletter subscription, direct inquiry, a booking, or a purchase. It all boils down to the metrics that are important to your business and the ideal conversion path you mapped out for your visitors from the entry point to the final conversion.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eWebsite Conversions\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eBy identifying specific elements that you want to test (CTA, page colors, layout, copy, etc), the target audience (organic traffic, existing customers, leads, etc), and a specific page on your website (homepage, product page, landing page, etc), you’ll be able to formulate a hypothesis and create an objective for each experiment. Once all this is done, you can move on to A/B testing. \u003c/span\u003e\u003ca href=\\\"https://www.optimizely.com/\\\"\u003e\u003cspan\u003eOptimizely\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and \u003c/span\u003e\u003ca href=\\\"https://vwo.com/\\\"\u003e\u003cspan\u003evwo\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e are some of the best A/B testing tools you can try. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo improve the conversion rates of your eCommerce store, you’ll need to analyze the test results and make changes based on the answers you get. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eConversion Rate Optimization in General\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe beauty of conversion rate optimization is that it focuses on doing a better job at turning existing visitors into paying customers, rather than trying to acquire new visitors. As the process of converting existing visitors is more cost-effective than throwing more money at driving traffic to your site, conversion rate optimization allows you to get the most out of your current investments by redirecting your budget to channels that achieve the best results. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhat this means is that you should be spending time optimizing all channels (email, paid search, social) that drive traffic to your site to ensure you’re targeting the right people with the right message, so when they land on your site, the probability of them bouncing as a result of misleading offers or unmet expectations is very low. Different channels call for different optimization techniques, however, \u003ca href=\\\"/ecommerce-wiki/ab-testing\\\"\u003eA/B testing\u003c/a\u003e is the thread that runs through them all. You can test everything from newsletter subject lines to Facebook ad copy to AdWords CTA.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWith new customer behavior insights and optimization tactics emerging every day, conversion rate optimization is never completely finished — it’s a continuous, ongoing process that you should adopt and carry out often.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003eHow to Get More Sales With Ecommerce Conversion Optimization\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e20 Tricks for Optimizing Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/facebook-ads-tactics\\\"\u003eFacebook Ads Tactics That’ll Skyrocket Sales!\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is conversion rate optimization (CRO)? | Why is conversion rate optimization important? | How to optimize conversion rate? | Read more.\",{\"_258\":286,\"_84\":1144,\"_190\":1142},\"What Is Conversion Rate? How to Calculate \u0026 Improve CRO\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1148,\"_258\":259,\"_260\":1149,\"_59\":1150,\"_84\":1151,\"_264\":1152,\"_75\":1153,\"_275\":1156,\"_279\":1157,\"_281\":1158,\"_283\":1158,\"_284\":1159,\"_288\":1161,\"_293\":1162},\"eyJsYXN0X2lkIjo1NTk4ODgzMzQ4NzAsImxhc3RfdmFsdWUiOjU1OTg4ODMzNDg3MH0=\",\"gid://shopify/Article/559888334870\",\"growth-hacking\",\"Growth Hacking\",\"2024-05-02T13:03:40Z\",{\"_258\":267,\"_6\":1154,\"_269\":1155,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898643-what-is-growth-hacking.png?v=1714655020\",\"What is Growth Hacking?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Growth Hacking?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eGrowth hacking refers to a process of blending marketing, product and data strategies and employing rapid experimentation across different marketing channels to pinpoint the most effective ways to drive accelerated and accumulative business growth. Growth hackers focus on testing unconventional techniques to discover scalable and repeatable methods to grow the user base with minimal spend.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is Growth Hacking So Important? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eTo achieve the astounding growth that they did, the majority of highly successful startups, such as Dropbox, Shopify, and Airbnb, have relied heavily on growth hacking during their startup phases. Growth hacking isn’t here to replace traditional marketing, though. It’s a completely novel approach to acquiring new business.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eGrowth hackers are often referred to as T-shaped marketers that have a wide range of basic knowledge across a number of different disciplines and deep knowledge in a single field. They draw on product, design, technology, data, content, and analytics insights to find ingenious ways to achieve sustainable and often incredible growth. Although creativity and the ability to employ unconventional thinking is what determines a growth hacker’s success, growth hacking itself is not some secret book of ideas that can be copied from product to product. It’s a strategic process, which, if applied correctly, can help solve problems hindering any company’s growth. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough traditionally employed by tech startups, thanks to its phenomenal impact on generating sales and driving traffic, growth hacking is rapidly gaining momentum in eCommerce. Adopting this growth mindset can help you boost your e-shop’s performance and gain new customers at minimal costs. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eBest Growth Hacking Techniques and Ideas For eCommerce\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eGrowth hacking is a constantly evolving and changing practice, so you shouldn’t try to follow blindly in the footsteps of those who succeeded. Make sure that all the tactics you’re employing are relevant to your audience and the type of business you’re running. Experiment with these evergreen growth hacking ideas to kick off your efforts: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eUse incentives to create a self-perpetuating growth machine.\u003c/b\u003e\u003cspan\u003e Your ultimate growth hacking goal is to find a way for your online store to automatically drive traffic to itself, so that it continues to grow exponentially without you having to lift a finger. Although it sounds like an idea from a sci-fi movie, Dropbox have done it. They came up with an idea to use incentives to encourage existing users to share the service with their friends in exchange for 16GB of free storage. The offer took off immediately and resulted in Dropbox achieving rapid growth. You can apply this tactic to your eCommerce store by offering a discount, free gift, free shipping or anything else you can think of, to customers who share a link to your shop with their social network. Keep in mind that it has to be a mouth-watering incentive to generate enough interest. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eGo where your customers hang out.\u003c/b\u003e\u003cspan\u003e This doesn’t just mean Facebook or Twitter. If you do what everyone else is doing, you’ll simply drown in the social noise. Identifying the sites that your customers frequent and leveraging that data to develop creative (and ideally automated) solutions on how to capture their attention is one of the tried-and-true hacks to generate traffic. Airbnb used Craigslist to reach their potential customers and get the word out. Think about the type of shoppers you target, what other interests, hobbies or habits they might have and how you can use that to your advantage. \u003c/span\u003e\u003cspan\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCreate high-quality free tools and resources. \u003c/b\u003e\u003cspan\u003eMany marketers are familiar with this hack. Giving away free content is an excellent way to expose your paid-for products to high volumes of traffic. Moz, for example, is nailing this tactic with its free \u003ca href=\\\"/blog/seo-tools\\\"\u003eSEO tools\u003c/a\u003e. Consider different types of content and resources that could engage your target audience – videos, guides, calculators, free stock images, tutorials, certified classes, etc – and double down on creating something exceptional that users will appreciate and share with others.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/business-ideas-that-make-money\\\"\u003e20 Amazing Startup Business Ideas That’ll Make You Money\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/social-media-marketing-plan\\\"\u003eHow to Create a Killer Social Media Marketing Plan\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/instagram-influencer-marketing\\\"\u003eHow to Do Instagram Influencer Marketing\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is growth hacking? | Why is growth hacking so important? | Best growth hacking techniques and ideas for eCommerce | Read more.\",{\"_258\":286,\"_84\":1160,\"_190\":1158},\"What is Growth Hacking? - Best growth hacking techniques and ideas\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1164,\"_258\":259,\"_260\":1165,\"_59\":1166,\"_84\":1167,\"_264\":1168,\"_75\":1169,\"_275\":1172,\"_279\":1173,\"_281\":1174,\"_283\":1174,\"_284\":1175,\"_288\":1177,\"_293\":1178},\"eyJsYXN0X2lkIjo1NTk4ODgzNjc2MzgsImxhc3RfdmFsdWUiOjU1OTg4ODM2NzYzOH0=\",\"gid://shopify/Article/559888367638\",\"abandoned-cart-emails\",\"Abandoned Cart Emails\",\"2024-05-02T13:03:42Z\",{\"_258\":267,\"_6\":1170,\"_269\":1171,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898653-what-are-abandoned-cart-emails.png?v=1714655023\",\"What are Abandoned Cart Emails?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat are abandoned cart emails?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eAbandoned cart emails is an eCommerce term used to describe automated email reminders sent to customers who exit a website after adding items to their shopping cart but failed to check out.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy are abandoned cart emails important? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAbandoned cart emails is a widely adopted and highly effective \u003c/span\u003e\u003ca href=\\\"/blog/email-marketing-examples\\\"\u003e\u003cspan\u003econversion optimization technique\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e used to recover lost sales. As much as 75% of lapsed buyers intend to return and complete the purchase, so it’s hugely important to capture them in the buying state of mind by offering gentle reminders of their initial intent. A series of automated abandoned cart emails ensures that your online store isn’t forgotten and capitalizes on the expressed interest. On average, abandoned cart emails achieve a 4.64% conversion rate, compared to just \u003c/span\u003e\u003cspan\u003e0.17% rate of a promotional newsletter.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhen should you send abandoned cart emails?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eThe standard practice is to send 2-3 emails after a cart abandonment occurs to try and pull back some of the lapsed shoppers. The first email should go out immediately after the cart abandonment. Some studies indicate that emails sent within the first 20 minutes of cart abandonment, on average, enjoy a 5.2% conversation rate, whereas emails sent within the first hour achieve a 4.5% conversion rate. We recommend running a few A/B tests to determine the most effective timings for your particular products and customers.\u003c/p\u003e\\n\u003cp\u003eIt is advisable to send the second email 1-3 days after a cart has been abandoned, and the third email 4-7 days after the cart has been abandoned. The main focus of the third email should be on reminding the customer that their cart won’t be saved and that it’s likely you’ll run out of stock. Coupon codes is one of the most popular incentives used in the final abandoned cart email as the last attempt to make the customer take action immediately.\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat tools can you use to send abandoned cart emails?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are a lot of great tools out there that you can use to send abandoned cart emails. We recommend that you look into\u003c/span\u003e \u003ca href=\\\"https://apps.shopify.com/jilt-cart-abandonment-solution\\\"\u003e\u003cspan\u003eJilt\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, \u003c/span\u003e\u003ca href=\\\"https://apps.shopify.com/abandon-app\\\"\u003e\u003cspan\u003eAbandon App\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, and \u003c/span\u003e\u003ca href=\\\"https://apps.shopify.com/abandon-aid\\\"\u003e\u003cspan\u003eAbandon Aid\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, if you’re using Shopify, or \u003c/span\u003e\u003ca href=\\\"https://rejoiner.com/\\\"\u003e\u003cspan\u003eRejoiner\u003c/span\u003e\u003cspan\u003e and \u003c/span\u003e\u003c/a\u003e\u003ca href=\\\"https://cartrescuer.com/\\\"\u003e\u003cspan\u003eCart Rescuer,\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e if you’re using a different platform.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/podcast/email-marketing\\\"\u003eHow Email Marketing Helped Build a 7-Figure Dropshipping Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003eWhat Is Email Marketing and Why Is It Important?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/abandoned-carts\\\"\u003eHow to Recover Abandoned Carts Better Than Your Competitors\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Abandoned Cart Emails? | When should you send abandoned cart emails? | What tools can you use to send abandoned cart emails? | Read about it.\",{\"_258\":286,\"_84\":1176,\"_190\":1174},\"Abandoned Cart Emails: Tips and Examples to Increase Sales\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1180,\"_258\":259,\"_260\":1181,\"_59\":284,\"_84\":1182,\"_264\":1183,\"_75\":1184,\"_275\":1187,\"_279\":1188,\"_281\":1189,\"_283\":1189,\"_284\":1190,\"_288\":1192,\"_293\":1193},\"eyJsYXN0X2lkIjo1NTk4ODg0MDA0MDYsImxhc3RfdmFsdWUiOjU1OTg4ODQwMDQwNn0=\",\"gid://shopify/Article/559888400406\",\"Search Engine Optimization (SEO)\",\"2024-05-02T13:03:44Z\",{\"_258\":267,\"_6\":1185,\"_269\":1186,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898637-what-is-search-engine-optimization.png?v=1714655025\",\"What is Search Engine Optimization?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Search Engine Optimization (SEO)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eSearch Engine Optimization (SEO) is the process of improving the rankings of a website or a web page in non-paid, also known as “organic”, search engine results. SEO combines creative and technical aspects that influence search engine rankings and can be broken down into three main areas: on-the-page SEO, off-the-page SEO, and violations.\u003c/p\u003e\\n\u003cp class=\\\"YT_Video\\\"\u003e\u003ciframe width=\\\"500\\\" height=\\\"281\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\\\" allowfullscreen=\\\"\\\" src=\\\"https://www.youtube.com/embed/pFbYKsXcSDE?feature=oembed\u0026amp;enablejsapi=1\u0026amp;origin=https://wp-en.oberlo.com\\\"\u003e\u003c/iframe\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eYou won’t be able to improve your search engine rankings by focusing on and optimizing only one area of SEO, as they are interconnected and affect one another. As a marketing strategy, SEO focuses on optimizing all elements that influence search engine results, including keyword research, content, HTML, site architecture, link building, and so on. It’s also important to note that SEO can target different kinds of search: \u003ca href=\\\"/blog/image-search-engine\\\"\u003eimage search\u003c/a\u003e, video search, local search, news search, academic search, and vertical search that focuses on a specific industry. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy Does My eCommerce Shop Need SEO?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eeCommerce industry is booming, with new online stores popping up every day. As a fairly new online business trend praised for its profitability potential, it represents an enormous opportunity for entrepreneurs. However, high profits also mean high competition. Every eCommerce store is trying to get to the top of search results to drive more traffic to their site and eventually, generate more sales. \u003c/span\u003e\u003cspan\u003eOptimizing your store’s SEO\u003c/span\u003e\u003cspan\u003e can give you an advantage over your competition and help you quickly increase traffic as well as boost your sales. In addition, websites that appear higher in search results enjoy better brand recognition, which leads to higher long-term sales effects. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eBest SEO Practices and Methods for eCommerce Stores \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA good way to think about the SEO benefits for your online store is that if you are missing out on clicks due to lower search rankings, you’re most likely missing out on sales, too. As with every other marketing strategy, you should focus on \u003c/span\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/seo-optimization\\\"\u003e\u003cspan\u003egetting the SEO basics right\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e first, and then shift to more sophisticated strategies that are in line with your business goals.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eSo how can you make sure your eCommerce shop ranks at the top? Here is a brief step-by-step guide to the most \u003c/span\u003e\u003ca href=\\\"/blog/ecommerce-seo\\\"\u003e\u003cspan\u003epowerful eCommerce SEO practices\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eResearch\u003c/b\u003e\u003cspan\u003e is the most important part of SEO. Start your SEO work from \u003c/span\u003e\u003cb\u003ekeyword\u003c/b\u003e\u003cspan\u003e and \u003c/span\u003e\u003cb\u003ecompetitor research\u003c/b\u003e\u003cspan\u003e to identify your search opportunities and evaluate your competitors’ SEO strategy. When researching the competition, take note of their inbound links strategy (\u003c/span\u003e\u003ci\u003e\u003cspan\u003ewhere are they getting their backlinks from?\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e) and their site architecture (\u003c/span\u003e\u003ci\u003e\u003cspan\u003ewhat is their site navigation like?\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e).\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eThe next step is carrying out a thorough \u003c/span\u003e\u003cb\u003esite audit\u003c/b\u003e\u003cspan\u003e to identify possible problems. You can use tools like \u003c/span\u003e\u003ca href=\\\"https://www.screamingfrog.co.uk/seo-spider/\\\"\u003e\u003cspan\u003eScreaming Frog\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to quickly pick up and \u003c/span\u003e\u003cb\u003efix errors\u003c/b\u003e\u003cspan\u003e on your own site. Once those are out of the way, check your site’s \u003c/span\u003e\u003cb\u003eloading speed\u003c/b\u003e\u003cspan\u003e, as slow websites suffer from higher site abandonment rates.\u003cbr\u003e\u003c/span\u003e\u003cspan\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eOn-page SEO optimization\u003c/b\u003e\u003cspan\u003e has an immense influence on your site’s performance. You can think of it as low-hanging fruit because it’s entirely in your hands and can be done fairly quickly. The eight key aspects you should focus on when polishing your on-page SEO are: \u003c/span\u003e\\n \u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003ekeyword optimization \u003c/b\u003e\u003cspan\u003e(headers, subheaders, image Alt tags, product descriptions, etc.), \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003esite structure \u003c/b\u003e\u003cspan\u003e(aim to create “flat structure” that requires a minimum amount of clicks to navigate from your homepage to your product pages), \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003einternal linking \u003c/b\u003e\u003cspan\u003e(establish your own \u003ca href=\\\"/ecommerce-wiki/anchor-text\\\"\u003eanchor text\u003c/a\u003e but use internal linking sparingly), \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eusability \u003c/b\u003e\u003cspan\u003e(streamlining your checkout process, making the contact information easily accessible, and creating a generally pleasant \u003ca href=\\\"/ecommerce-wiki/user-experience-ux\\\"\u003euser experience\u003c/a\u003e), \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003ethe mobile version of the site\u003c/b\u003e\u003cspan\u003e, \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003esocial proof \u003c/b\u003e\u003cspan\u003e(customer reviews lead to more conversions and positively impact your SEO), \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eand \u003c/span\u003e\u003cb\u003esocial media integration\u003c/b\u003e\u003cspan\u003e (adding social buttons helps customers to easily share your content and products, which leads to Google giving your site more authority).\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003c/ul\u003e\\n \u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eTo set yourself up for success, you need to implement a robust \u003c/span\u003e\u003cb\u003etesting strategy\u003c/b\u003e\u003cspan\u003e. This includes things like running A/B tests to experiment with page content, using analytics to determine your best-converting keywords, testing meta titles and descriptions to improve click-through rates, and utilizing PPC campaigns to discover high-converting keywords that should be part of your SEO strategy.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eLeverage your keyword research by \u003c/span\u003e\u003cb\u003ecreating exceptional blog content\u003c/b\u003e\u003cspan\u003e. Not all of the keywords that are important to your business will make it onto a page of your site, so you should really double-down on producing high-quality content optimized to rank for those keywords and provide value to your readers.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eTake \u003c/span\u003e\u003cb\u003eoff-page SEO optimization\u003c/b\u003e\u003cspan\u003e seriously. In simple terms, off-page SEO tells Google what others think about your brand, and most people associate off-page SEO with link building; which is correct, but there are other activities you can try. Quality \u003c/span\u003e\u003cb\u003ebacklinks\u003c/b\u003e\u003cspan\u003e have a major impact on your search rankings, so spend time searching for link opportunities from high authority sites and avoid spammy-looking websites. The best way to earn links is through relevant guest posts, infographics, research reports, and press releases. You should also consider submitting your\u003c/span\u003e\u003cb\u003e XML sitemap\u003c/b\u003e\u003cspan\u003e to \u003ca href=\\\"/ecommerce-wiki/search-engine-marketing-sem\\\"\u003esearch engines\u003c/a\u003e if most of your traffic is generated through long-tail keywords.\u003cbr\u003e\u003cbr\u003e\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eDon’t try to reinvent the wheel and take advantage of the leading SEO tools, such as:\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"https://moz.com/researchtools/ose/\\\"\u003e\u003cspan\u003eOpen Site Explorer\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://ubersuggest.io/\\\"\u003e\u003cspan\u003eUbersuggest\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://authoritylabs.com/\\\"\u003e\u003cspan\u003eAuthority Labs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://adwords.google.com/KeywordPlanner\\\"\u003e\u003cspan\u003eGoogle Keywords Planner\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://keywordtool.io/\\\"\u003e\u003cspan\u003eKeyword Tool\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://ahrefs.com/\\\"\u003e\u003cspan\u003eAhrefs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.screamingfrog.co.uk/seo-spider/\\\"\u003e\u003cspan\u003eScreaming Frog\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://brokenlinkbuilding.com/\\\"\u003e\u003cspan\u003eBroken Link Builder\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://www.buzzstream.com/\\\"\u003e\u003cspan\u003eBuzzstream\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"https://moz.com/tools/keyword-difficulty\\\"\u003e\u003cspan\u003eMOZ Keyword Explorer\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/image-search-engine\\\"\u003eBest Image Search Engine: How to Search Images on Google Easily\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/beginners-guide-google-shopping-ads\\\"\u003eHow to Sell and Advertise on Google\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eThe Beginner’s Guide to Dropshipping SEO\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ultimate-guide-writing-meta-descriptions\\\"\u003eThe Ultimate Guide to Writing Meta Descriptions\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"Why does my eCommerce shop need SEO? | Read this article to learn more about the best SEO practices and methods for eCommerce stores.\",{\"_258\":286,\"_84\":1191,\"_190\":1189},\"What is Search Engine Optimization (SEO)? - Learn More About SEO\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1195,\"_258\":259,\"_260\":1196,\"_59\":1197,\"_84\":1198,\"_264\":1199,\"_75\":1200,\"_275\":1203,\"_279\":1204,\"_281\":1205,\"_283\":1205,\"_284\":1206,\"_288\":1208,\"_293\":1209},\"eyJsYXN0X2lkIjo1NTk4ODg0MzMxNzQsImxhc3RfdmFsdWUiOjU1OTg4ODQzMzE3NH0=\",\"gid://shopify/Article/559888433174\",\"brand-equity\",\"Brand Equity\",\"2024-05-02T13:03:46Z\",{\"_258\":267,\"_6\":1201,\"_269\":1202,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898651-what-is-brand-equity.png?v=1714655026\",\"What is Brand Equity?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is Brand Equity?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBrand equity is the value created around a product that can be either positive or negative. This value is determined by how well customers view a product’s quality, cost-effectiveness, and usefulness. Positive brand equity for a product means that it is fit for purpose, high quality, and priced accordingly for its target market.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eHow to Build Brand Equity Through Marketing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBefore building brand equity around a product it is important to build a great product for a defined audience. Consult focus groups to find out why customers like your product, and discover what people are saying about your product online. Once you understand why your product is beloved you can start to build equity around it. \u003c/span\u003e\u003cbr\u003e\u003cbr\u003e\u003cspan\u003eThere are many ways to build value for a product through PR, marketing, advertising, sales, and more. The most widely used ways are:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eIntroduction: \u003ca href=\\\"/blog/500-launch-budget\\\"\u003eBrand Launch\u003c/a\u003e\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eWhen you have a new product it is impossible to have positive brand equity without creating a launch campaign to introduce it to the world. Spend time and money on gaining sales momentum through PR and advertising at this stage of the product lifecycle which will establish your product with your target market. \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eRecognition: Brand Awareness\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eOnce your product has been introduced to your market and people start to talk about it, it is important to build hype around it. Begin \u003ca href=\\\"/blog/how-to-start-a-blog\\\"\u003ecreating content around your product\u003c/a\u003e and the solution that it provides so that potential customers receive the right information to choose your product over a competitor’s offering.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eIteration: \u003ca href=\\\"/blog/customer-retention\\\"\u003eBrand Loyalty\u003c/a\u003e\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eOnce your product is known and valued among your target market you can start to push it out to peripheral markets using its positive equity score to help grow loyalty and increase referrals. Using influencer marketing to break into newer markets is a great first step and maybe even experiment with video recommendations of customers to strengthen your sale collateral.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is Brand Equity Important to a Company\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBrand equity summarizes the value of a brand for a company. This is important to a company as it can highlight if there are any issues with a product or where a product could be lacking. This can also help companies to understand where a product stands in relation to competitors. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere are two types of brand equity to measure:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003ePositive Brand Equity:\u003c/b\u003e\u003cspan\u003e This can mean that a company can charge a premium on their product as customers are willing to pay more for it. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eNegative Brand Equity:\u003c/b\u003e\u003cspan\u003e This can lead to a company identifying serious shortfalls in their product development and can help to improve a product in the future.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eBrand Equity Examples\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBrand equity is a hard thing to equate but there are some signs that state quite definitively that your brand has positive or negative value. Below are some of these examples:\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003ePositive Brand Equity Example:\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003e\u003ca href=\\\"https://apple.com\\\"\u003eApple\u003c/a\u003e has had positive brand equity for many years now that have led to huge customer lines forming at launches for their new products year after year, even when products have sometimes been subpar. Apple receives this great equity score due to its superior products and the simplicity of design that is hard to tarnish. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eNegative Brand Equity Example:\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003e\u003ca href=\\\"https://uber.com\\\"\u003eUber\u003c/a\u003e has been in the news many times about different things but one of the most damaging things was their increase in charges during holiday periods for customers. Uber users experienced increases of up to 8.9% higher than at other times of the year. This negative encounter has stopped some of its customers using the service completely. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-vs-affiliate-marketing\\\"\u003e\u003cspan\u003eDropshipping Vs Affiliate Marketing: Which is More Profitable?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/dropshipping/building-brand-awareness\\\"\u003e\u003cspan\u003eHow to Raise Brand Awareness for Your Dropshipping Store\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/brand-awareness-tips\\\"\u003e\u003cspan\u003e5 Tips for Creating a Powerful Brand Identity\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/mindset\\\"\u003e\u003cspan\u003eThe Ecommerce Mindset: How Successful Store Owners Think\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is Brand Equity? | How to Build Brand Equity | Define Brand Equity | Brand Equity in Marketing | Brand Equity Model | Learn More about Brand Equity\",{\"_258\":286,\"_84\":1207,\"_190\":1205},\"What is Brand Equity? Discover How to Build Brand Equity with our Examples\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1211,\"_258\":259,\"_260\":1212,\"_59\":1213,\"_84\":1214,\"_264\":1215,\"_75\":1216,\"_275\":1219,\"_279\":1220,\"_281\":1221,\"_283\":1221,\"_284\":1222,\"_288\":1224,\"_293\":1225},\"eyJsYXN0X2lkIjo1NTk4ODg0NjU5NDIsImxhc3RfdmFsdWUiOjU1OTg4ODQ2NTk0Mn0=\",\"gid://shopify/Article/559888465942\",\"attribution-model\",\"Attribution Model\",\"2024-05-02T13:03:47Z\",{\"_258\":267,\"_6\":1217,\"_269\":1218,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898655-what-is-an-attribution-model.png?v=1714655028\",\"What is an Attribution Model?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is an Attribution Model?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eAn attribution model is a practice that determines how credit for sales and conversions is assigned to different channels across different touchpoints in the buyer journey. It’s the process of connecting various campaigns to a company’s ROI.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eTypes of Attribution Models\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDifferent attribution models are used in different situations. Let’s look at an attribution modeling example:\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003e#1 touchpoint:\u003c/i\u003e\u003c/b\u003e \u003ci\u003e\u003cspan\u003eA new customer lands on your website by clicking through one of your \u003ca href=\\\"/blog/google-adwords-tutorial\\\"\u003eGoogle ads\u003c/a\u003e but doesn’t buy anything. \u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003e#2 touchpoint:\u003c/i\u003e\u003c/b\u003e\u003ci\u003e\u003cspan\u003e Three days later, she returns to the website by clicking on one of your \u003ca href=\\\"/blog/facebook-marketing\\\"\u003eFacebook\u003c/a\u003e posts but, again, doesn’t buy anything. \u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003e#3 touchpoint:\u003c/i\u003e\u003c/b\u003e\u003ci\u003e\u003cspan\u003e The following day she receives one of your \u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003eemail marketing campaigns \u003c/a\u003e and returns to the site for the third time, no purchase yet. \u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003e#4 touchpoint:\u003c/i\u003e\u003c/b\u003e\u003ci\u003e\u003cspan\u003e That same day, a few hours later, she returns to your website directly and makes a purchase. \u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhich channel should get the credit for this conversion? The answer depends on the type of attribution model you’re using. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#1 The First Interaction attribution model\u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAccording to this model, the first touch in the customer journey in the case of the example above, the Paid Search channel, should receive 100% of the credit for the conversion. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#2 The Last Interaction attribution model\u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe Last touch attribution model is the simplest one to measure as it gives 100% of the credit for the sale to the last touchpoint in the customer journey. In this case, it would be the Direct channel. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#3 The Last Non-Direct Click attribution model\u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe Last Non-Direct Click attribution model ignores all direct traffic and attributes 100% of the credit for the conversion to the last channel that drove the customer to the website (in our example, the Email channel). \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#4 The Last Ads Click attribution model\u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe Last Ads Click attribution model awards 100% of the credit for the sale to the last Ads click (in our example that’s the first and the only click from the Paid Search channel). \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e\u003ci\u003eConversion window.\u003c/i\u003e\u003c/b\u003e \u003cspan\u003eIn this case, it’s also important to pay attention to the conversion window that you set up on your Ads account. Conversion window is the period of time after a click on your ad during which a conversion (such as a purchase) occurs. By default, the conversion window is set to be 30 days but you can adjust it to any period of time depending on your needs. In terms of attribution models, keep in mind that the Last Ads Click attribution report will show only those conversions that happen within the conversion window you chose. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#5 The Linear attribution model\u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe Linear attribution model would give equal credit for the sale to each touchpoint in the conversion path (in this case, 25% credit to Paid Search, Social Network, Email and Direct channels). \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#6 The Time Decay attribution model\u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe Time Decay attribution model regards the touchpoints closest in time to the conversion as the most important and gives them the most credit. In our example, Direct and Email channels would get most of the credit because the buyer interacted with these channels just before making a purchase. The least credit would be attributed to the first touchpoint, the Paid Search channel because it is the farthest away from the conversion. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003e#7 The Position Based attribution model \u003c/b\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIn the Position Based model, the first and last interactions receive 40% of the credit each and the remainder is distributed evenly to all middle interactions. In our example, the Paid Search and Direct channels would be given 40% of the credit each, and the remaining 20% would go to Social Network (10%) and Email (10%). \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is Attribution Model Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThe right attribution model can tell you how much each channel contributes to your business objectives, such as profits, revenue, new business, and customer retention. By understanding which channels are driving the most impact across the different touchpoints of the sales funnel, you can better allocate advertising budget and invest in channels that have a higher conversion rate.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eHow to Use Google Analytics for Your Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/seo-tools\\\"\u003eGoogle Analytics Shopify: How to Get Started\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/google-tag-manager\\\"\u003eGoogle Tag Manager (GTM)\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"An attribution model is a practice that determines how credit for sales and conversions is assigned to different channels across different touchpoints.\",{\"_258\":286,\"_84\":1223,\"_190\":1221},\"What is an attribution model? - Why is attribution model important?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1227,\"_258\":259,\"_260\":1228,\"_59\":1229,\"_84\":1230,\"_264\":1231,\"_75\":1232,\"_275\":1235,\"_279\":1236,\"_281\":1237,\"_283\":1237,\"_284\":1238,\"_288\":1240,\"_293\":1241},\"eyJsYXN0X2lkIjo1NTk4ODg0OTg3MTAsImxhc3RfdmFsdWUiOjU1OTg4ODQ5ODcxMH0=\",\"gid://shopify/Article/559888498710\",\"ab-testing\",\"A/B Testing\",\"2024-05-02T13:03:49Z\",{\"_258\":267,\"_6\":1233,\"_269\":1234,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898653-what-is-ab-testing-1.png?v=1714655029\",\"what is a/b testing?\",[277,278],\"\u003ch2\u003eWhat is A/B Testing?\u003c/h2\u003e\\n\u003cp\u003eA/B testing, also known as split testing, is a testing method used to compare two or more versions of the same page or app to determine which one converts or performs better. Although the name (A/B testing) suggests the experiment is conducted to compare two pages, it can actually include as many pages as desired.\u003c/p\u003e\u003ch2\u003eHow Does A/B Testing Work?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTo run an A/B test, choose which element (only one at a time) of your page you’d like to test (e.g., CTA button, headline, copy, image, video, etc.) and change it in one version of the page.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThen, show these versions to two audiences of a similar size and use statistical analysis to determine which variation performed better for a set conversion goal. You can also consider making your entire landing page or \u003ca href=\\\"/blog/what-is-email-marketing\\\"\u003eemail campaign\u003c/a\u003e a variable, which would mean creating two completely different pages (or email campaigns) and testing them against each other.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo ensure your experiment produces valid results, you need to set up something known as “control”. Control is simply the unaltered version of your landing page that is currently in use or is regarded as the primary choice. It will be used to \u003ca href=\\\"/ecommerce-wiki/benchmarking\\\"\u003ebenchmark the results\u003c/a\u003e. The different versions of the control page that you will build are known as “treatments” or “challenger pages”. After you run your A/B test and analyze the results, you will decide which of the page variant is the “champion” page (a winner page with the best performance).\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhen it comes to assigning traffic to page variants, it’s essential to keep it random. The rule of thumb is to send similar amounts of traffic to both variant pages to maintain the integrity of the test and achieve conclusive results — the most common way to split traffic is 50/50 or 60/40. It’s also key to remember that the experiment requires you to run two or more variations simultaneously, as time plays a central role in A/B testing. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTo ensure the experiment is clean, follow these A/B testing best practices:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eRun the test for at least 7 days to avoid seasonality or timing effects\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eEnsure each page receives a minimum of 100 unique visitors\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eHave a very clear purpose (and hypothesis) for why you are testing\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003eWhy Should You Run A/B Testing?\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA/B testing takes the guesswork out of page optimization and provides you with solid data to make well-informed decisions about improving on-page conversions. Acquiring paid traffic can be a costly exercise, while the cost of improving your conversions from existing traffic through optimization is minimal and can be achieved much faster. Even the smallest changes in A/B testing can generate significant revenue gains.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eA/B testing also allows you to make careful changes to user experience and observe their impact, making sure only those changes that improve the conversions are implemented. Accurate A/B tests can substantially contribute to your bottom line, as you can experiment with improving both micro (small steps in the conversion path, such as newsletter subscriptions and user registrations) and macro conversions (revenue goals).\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e20 Tricks for Optimizing Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003eHow to Get More Sales With Ecommerce Conversion Optimization\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e20 Tricks for Optimizing Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize Ecommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"A/B testing is a method used to compare two or more versions of the same page or app to determine which one converts or performs better. Read more.\",{\"_258\":286,\"_84\":1239,\"_190\":1237},\"What is A/B Testing? - Learn How to Run A/B Test On Your Website\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1243,\"_258\":259,\"_260\":1244,\"_59\":1245,\"_84\":1246,\"_264\":1247,\"_75\":1248,\"_275\":1251,\"_279\":1252,\"_281\":1253,\"_283\":1253,\"_284\":1254,\"_288\":1256,\"_293\":1257},\"eyJsYXN0X2lkIjo1NTk4ODg1MzE0NzgsImxhc3RfdmFsdWUiOjU1OTg4ODUzMTQ3OH0=\",\"gid://shopify/Article/559888531478\",\"outsourcing\",\"Outsourcing\",\"2024-05-02T13:03:50Z\",{\"_258\":267,\"_6\":1249,\"_269\":1250,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-is-outsourcing.png?v=1714655031\",\"What is Outsourcing?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is Outsourcing?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOutsourcing is the practice of obtaining goods or services, for particular, non-fundamental roles in a company from an external supplier. The most common outsourcing activity is hiring freelancers or professional agencies to perform highly specialized elements of a project. This could include development work, marketing activities, customer service roles, and more.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhy Outsource?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many reasons why companies decide to outsource skilled activities. Whether you have a big, small, or medium-sized company, outsourcing is sometimes the only option to get things done. Reasons why businesses outsource skills or products include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eThe inability to find it in-house\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe lack of capital to hire staff/purchase product\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe short-term need for staff or product\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eBenefits of Outsourcing\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eCost Savings\u003c/b\u003e\u003cspan\u003e: Outsourcing activities \u003c/span\u003e\u003ca href=\\\"https://medium.com/coderslink/what-is-outsourcing-what-does-it-mean-for-companies-eff73fe60372\\\"\u003e\u003cspan\u003ereduce costs\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e as you don’t need to invest in extra software, hiring costs, and other costs related to having an employee carry out the work.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eFlexibility\u003c/b\u003e\u003cspan\u003e: Hiring an expert for a period of time means that you have more resources than before. You can use this to your advantage by getting more done with these additional resources. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eTime Savings\u003c/b\u003e\u003cspan\u003e: \u003ca href=\\\"/ecommerce-wiki/resource-management\\\"\u003eHaving to wait for resources to come available can be time-consuming\u003c/a\u003e. By outsourcing tasks, things get done quicker and there is no waiting around.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHigher Efficiency\u003c/b\u003e\u003cspan\u003e: Outsourcing non-fundamental activities to external personnel means that you can focus on core business activities that will make you money. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSubject-Matter Experts: \u003c/b\u003eOutsourcing activities that are highly specialized is a smart move if you have no one in-house that can do this. Finding a subject-matter expert who can provide the level of experience needed to do the job is paramount in creating great products that are fit for purpose.\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eScalable Capacity\u003c/strong\u003e: \u003ca href=\\\"/ecommerce-wiki/growth-hacking\\\"\u003e\u003cspan\u003eCompanies need to scale quickly\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e if they want to be successful and outsourcing is a great way of doing this when you have limited resources. Smaller companies can hire subject-matter experts to carry out important work that is vital in scaling the business in the right direction. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cstrong\u003e\u003ca href=\\\"https://searchcio.techtarget.com/definition/outsourcing\\\"\u003eCompetitive Advantages\u003c/a\u003e\u003c/strong\u003e: \u003cspan\u003eWhen a smaller company is looking to compete against larger businesses outsourcing can create a competitive advantage. Freelancers and agencies can help push out new features or fix bugs to keep your employees on top of things. This ensures that work doesn’t become overwhelming for smaller companies. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eHow to Outsource\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eDraft the task and what’s needed\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eSometimes you know you need help but you are not sure about what. Sit down and think about what needs to be done. Talk to those with more knowledge in the area and let them tell you what they need. Draft a task description and highlight the skills or things needed to finish this task perfectly.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eDetermine the best platform to find these things\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eResearch where you can find what you need. If you are \u003c/span\u003e\u003ca href=\\\"/blog/freelance-websites-for-entrepreneurs\\\"\u003e\u003cspan\u003elooking for a freelancer\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e maybe Fiverr or Upwork can help. If you are sourcing a product there should be an equivalent platform. Spend time to look around the different platforms and understanding the payment process to make sure you choose the right place for you.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eReach out through the platform\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003ePublish your task description and what you need without giving away confidential information. The more information you put in your advertisement the more likely you are of finding what you need.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eRank the results\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eWait a few days and survey the applications. Rank the results to make sure you are getting the right ones. Maybe the platform was not the right one after all and you need to publish your task description elsewhere. Pick your top two or three applications and reach out to them. Treat this like any other \u003c/span\u003e\u003ca href=\\\"/blog/business-skills-to-start-online-store\\\"\u003e\u003cspan\u003edecision-making process\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e as your decision could cause setbacks if not thoroughly vetted.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003eHire the best for the job\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eYou are looking to fulfill certain criteria so when you have found the right person, or product, for the job, don’t be afraid to get it. There is no use in hiring someone who has some of the qualifications as you will need to hire another person with the other skills. Strive to find the best always.\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cb\u003e\u003ca href=\\\"/ecommerce-wiki/supplier\\\"\u003eBuild a good relationship\u003c/a\u003e\u003c/b\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan\u003eA good freelancer or supplier is hard to come by sometimes so spend time building a relationship with them. You may need their skills again in the future and it would be great to just pick up the phone and call someone you can trust as opposed to having to find someone new. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/grow-ecommerce-with-freelancers\\\"\u003e\u003cspan\u003eEcommerce Blueprint: Grow Your Business With the Help of Others\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/digital-nomad-jobs\\\"\u003e\u003cspan\u003eWhat Is a Virtual Assistant and Do You Need One?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/25-ecommerce-tips\\\"\u003e\u003cspan\u003e10 Super-Useful Productivity Tips for Ecommerce Entrepreneurs\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/16-dropshipping-tips\\\"\u003e\u003cspan\u003e16 Dropshipping Tips for New Entrepreneurs You Need to Know\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Outsourcing is the practice of obtaining goods or services, for particular roles from an external supplier. We discuss the reasons and benefits of outsourcing in our article\",{\"_258\":286,\"_84\":1255,\"_190\":1253},\"What is Outsourcing and How Can It Help You Get Ahead of Competitors?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1259,\"_258\":259,\"_260\":1260,\"_59\":1261,\"_84\":1262,\"_264\":1263,\"_75\":1264,\"_275\":1267,\"_279\":1268,\"_281\":1269,\"_283\":1269,\"_284\":1270,\"_288\":1272,\"_293\":1273},\"eyJsYXN0X2lkIjo1NTk4ODg1NjQyNDYsImxhc3RfdmFsdWUiOjU1OTg4ODU2NDI0Nn0=\",\"gid://shopify/Article/559888564246\",\"user-experience-ux\",\"User Experience (UX)\",\"2024-05-02T13:03:53Z\",{\"_258\":267,\"_6\":1265,\"_269\":1266,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898633-what-is-user-experience.png?v=1714655033\",\"What is User Experience?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is User Experience (UX)?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eUser Experience (UX) is every aspect of the user’s interaction with a product or company that contributes to the overall perceptions and satisfaction of using it. The perceptions left in the user’s mind encompass everything from how they feel when they’re using it, to how well they understand how it functions, to how they feel when they’re interacting with it and how well it meets their needs and expectations.\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is User Experience (UX) important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eUser experience is the overall experience that a user has with a product, so it makes a huge impact on the performance of the product and ultimately, the bottom line. It focuses on understanding users, their needs, values, abilities, and limitations to improve the quality of interaction that a user has with a product. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThere are several benefits often ascribed to UX:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eIncreased \u003c/b\u003e\u003ca href=\\\"/ecommerce-wiki/conversion-rate\\\"\u003e\u003cb\u003econversion rates\u003c/b\u003e\u003c/a\u003e\u003cb\u003e.\u003c/b\u003e\u003cspan\u003e Good user experience rests on solid user research. User research helps to uncover user personas that are utilized to map out the user journey and structure the information in a way that would make sense to a target user. You can think of user research as a more focused type of market research, which concerns itself with targeting the right audience and tailoring the whole experience to a certain segment of potential customers. Knowing user expectations and gearing the whole user experience towards meeting and exceeding them automatically contributes to increased conversion rates.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eImproved customer retention. \u003c/b\u003e\u003cspan\u003eIf users feel that your site completely understands their behavior and makes their interaction and navigation smooth and enjoyable, they will continue coming back because why would they want to go anywhere else? Helping your users reach their goals quickly and in the most delightful way possible significantly reduces the \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/churn-rate\\\"\u003e\u003cspan\u003echurn rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and builds loyalty.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eCustomer referrals. \u003c/b\u003e\u003cspan\u003eCustomer recommendations are one of the most powerful selling and marketing tools available. However, besides focusing on enhancing the user experience of their site or product and utilizing the right incentives, businesses have little control over this aspect. Satisfied customers who enjoy your products or services will most likely recommend them to their friends or leave positive reviews online. Delighting your customers in every step of their buying journey will ultimately help you generate more potential customers.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWhat Makes for a Good User Experience? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eWhen it comes to creating an enjoyable UX on an \u003ca href=\\\"/blog/what-is-ecommerce\\\"\u003eeCommerce\u003c/a\u003e site, there are several important aspects that stand out:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eEasy navigation (\u003c/b\u003e\u003ca href=\\\"/ecommerce-wiki/information-architecture\\\"\u003e\u003cb\u003einformation architecture\u003c/b\u003e\u003c/a\u003e\u003cb\u003e). \u003c/b\u003e\u003cspan\u003eUser research will help you determine which categories are the most popular, so you can create a logical structure of categories and subcategories to help shoppers find what they need faster. It’s also important to place the essential information (product price, description, color/size options, image, and video gallery) above the fold on a product page and use the rest of the page to provide additional information, such as product reviews, shipping options, etc.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eAdequate support. \u003c/b\u003e\u003cspan\u003eEnsuring a customer support agent is always available to answer customers’ questions and provide personalized support will increase customer satisfaction and help you reduce the \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/bounce-rate\\\"\u003e\u003cspan\u003ebounce rate\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Chatbots that utilize predictive technology can also be extremely handy and enable you to anticipate shoppers’ needs and deliver timely guidance during critical moments.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eHassle-free checkout process.\u003c/b\u003e \u003ca href=\\\"/ecommerce-wiki/checkout-page\\\"\u003e\u003cspan\u003eCheckout page\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e is the highest drop-off point on eCommerce sites. Sometimes it’s due to shopper indecisiveness, but more often than not it’s a result of a cluttered and complex checkout process. Minimizing the number of steps required to complete the purchase and offering the right selection of \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/payment-gateway\\\"\u003e\u003cspan\u003epayment gateways\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e are often the go-to solutions for checkout optimization.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eUser-friendly return policy. \u003c/b\u003e\u003cspan\u003eThe service you provide after a purchase occurs is in a way even more important than the seamless buying experience. It is one of the main factors that will determine whether a customer returns. If you’re focused on wooing your shoppers with one-click purchasing, the returns policy should be just as simple and straightforward to maintain customer satisfaction. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWays to Measure User Experience\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eIf you’re not measuring user experience, you don’t understand the usability issues hindering your site’s performance. If you don’t understand them, you can’t improve. There are a lot of different metrics that can be used to measure UX, but the most popular ones include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eNet Promoter Score (NPS)\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCompletion rates \u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/churn-rate\\\"\u003e\u003cspan\u003eChurn rate\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCustomer Lifetime Value\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eRetention\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eProduct page conversion\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/bounce-rate\\\"\u003e\u003cspan\u003eBounce rate\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eReturning visitors\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003e\u003cb\u003eWhat is the Difference Between UX and UI?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eUser experience focuses on the user, her overall experience and journey through the product, and concerns itself with meeting the exact needs of a customer. \u003ca href=\\\"/ecommerce-wiki/user-interface-ui\\\"\u003eUser interface\u003c/a\u003e is all about the surface of the product, the visual aspects of the design, how they function on a screen and how a user interacts with them. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eUX and UI are different things but must go hand in hand to create an intuitive and beautiful product experience.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/create-great-product-page\\\"\u003eHow to Create a Great Product Page\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-choose-ecommerce-store-theme\\\"\u003eShopify Themes: How to Pick the Best Shopify Theme for Your eCommerce Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"User Experience (UX) is every aspect of the user’s interaction with a product or company that contributes to the overall perceptions and satisfaction.\",{\"_258\":286,\"_84\":1271,\"_190\":1269},\"What is User Experience (UX)? - Read Why UX is so Important | Oberlo\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1275,\"_258\":259,\"_260\":1276,\"_59\":1277,\"_84\":1278,\"_264\":1279,\"_75\":1280,\"_275\":1283,\"_279\":1284,\"_281\":1285,\"_283\":1286,\"_284\":1287,\"_288\":1289,\"_293\":1290},\"eyJsYXN0X2lkIjo1NTk4ODg1OTcwMTQsImxhc3RfdmFsdWUiOjU1OTg4ODU5NzAxNH0=\",\"gid://shopify/Article/559888597014\",\"customer-lifetime-value\",\"Customer Lifetime Value\",\"2024-05-02T13:03:54Z\",{\"_258\":267,\"_6\":1281,\"_269\":1282,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898649-what-is-customer-lifetime-value.png?v=1714655034\",\"What is Customer Lifetime Value?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is Customer Lifetime Value?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eCustomer lifetime value is the \u003c/span\u003e\u003ca href=\\\"https://www.marketingmo.com/campaigns-execution/how-to-calculate-customer-lifetime-value/\\\"\u003e\u003cspan\u003enet present value attributed to a typical customer\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e in a company over their average buying lifetime. Moreover, this value helps to identify how much you should invest in customer retention. Knowing your retention rate, or how long a customer remains with you, is important for your customer lifetime value calculation. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIn this way customer lifetime value \u003c/span\u003e\u003ca href=\\\"/tools/profit-margin-calculator\\\"\u003e\u003cspan\u003erepresents the net profit that your company\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e can make from a customer. This allows you to plan for the future, inform your annual budgets, and identify areas for improvement. This calculation could single out marketing campaigns that drive up costs, or highlight customer queries that cost too much time. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eCustomer Profitability and Lifetime Value\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eFurthermore looking at customer profitability and lifetime value is a great strategy to advise if a company is doing well. Look at the profitability level of each segment of customer in your database and match this to your customer lifetime value. Broken down by \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/customer-segmentation\\\"\u003e\u003cspan\u003ecustomer type you can identify segments\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that are less profitable than others. Now you can look at ways to improve the customer lifetime value of these segments.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eHow to Calculate Customer Lifetime Value\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many different ways to calculate customer lifetime value. \u003c/span\u003e\u003ca href=\\\"https://medium.com/swlh/5-simple-ways-to-calculate-customer-lifetime-value-5f49b1a12723\\\"\u003e\u003cspan\u003eThese formulas vary due\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e to the age or size of a company, and also the data at your disposal. There is a simple ‘Average Revenue per User’ (ARPU) formula which predicts the annual value of a customer based off of a previous period. This can be a good starting point.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cspan\u003eCustomer Lifetime Value Formulas\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThere are three possible formulas that you can work from depending on the size of your business.\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cb\u003eSmall Business With Limited Data\u003c/b\u003e\u003cspan\u003e: ARPU = Total Revenue / Number of Customers\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eSmall Business With Good Data\u003c/b\u003e\u003cspan\u003e:\u003c/span\u003e \u003cspan\u003eTraditional CLV = Gross Margin per Customer [Retention Rate (per month) / (1 + Discount Rate (per month) – Retention Rate (per month))]\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eLarger Business With Good Data:\u003c/b\u003e\u003cspan\u003e Advanced CLV (1 month) = [Total Transactions x Average Order Value x Average Gross Margin x Average Customer Lifespan (Counted in Months)] / Number of Customers\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch3\u003e\u003cspan\u003eCustomer Lifetime Value Calculator\u003c/span\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThere are calculators available for free online but you still need to provide the information to perform these calculations. As well as this, because there are more than one formula for customer lifetime value you must find the right calculator for your business’ needs. This is why it is \u003c/span\u003e\u003ca href=\\\"/blog/customer-lifetime-value-ecommerce-stores\\\"\u003e\u003cspan\u003ebetter to do these calculations in-house\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eThe Importance of Customer Lifetime Value\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eUsing any customer lifetime value formula will give you the value of a customer to your business. The higher that value, the greater your profits. Knowing this value is important as you can enhance your marketing spend or hire less sales people. You can also identify if your pricing strategy is right, or you need to improve your customer retention rate. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/mindset/customer-lifetime-value\\\"\u003e\u003cspan\u003eCustomer Lifetime Value (CLV) Matters More than Today’s Sale\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/key-performance-indicators-kpis\\\"\u003e\u003cspan\u003eKey Performance Indicators (KPIs) to Track Campaign Success\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/customer-retention\\\"\u003e\u003cspan\u003e10 Tips to Keep Your Customers Coming Back\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/relationship-marketing\\\"\u003e\u003cspan\u003eSupercharge Your Business With Relationship Marketing\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Customer lifetime value is the value attributed to a typical customer to a company over their average buying lifetime. Discover how to calculate a customer's lifetime value \u0026 more\",\"Customer lifetime value is the value attributed to a typical customer to a company over their average buying lifetime. Discover how to calculate a customer's lifetime value \u0026amp; more\",{\"_258\":286,\"_84\":1288,\"_190\":1285},\"What is Customer Lifetime Value and How to Calculate It?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1292,\"_258\":259,\"_260\":1293,\"_59\":1294,\"_84\":1295,\"_264\":1296,\"_75\":1297,\"_275\":1300,\"_279\":1301,\"_281\":1302,\"_283\":1302,\"_284\":1303,\"_288\":1305,\"_293\":1306},\"eyJsYXN0X2lkIjo1NTk4ODg2Mjk3ODIsImxhc3RfdmFsdWUiOjU1OTg4ODYyOTc4Mn0=\",\"gid://shopify/Article/559888629782\",\"overhead-costs\",\"Overhead Costs\",\"2024-05-02T13:03:55Z\",{\"_258\":267,\"_6\":1298,\"_269\":1299,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-are-overhead-costs.png?v=1714655036\",\"What are Overhead Costs?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat are Overhead Costs?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOverhead Costs are the \u003c/span\u003e\u003ca href=\\\"https://www.shopify.com/encyclopedia/overhead-costs\\\"\u003e\u003cspan\u003ecosts associated with running a business\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. These include the costs of running a business, creating a product, marketing it, and many other things involved in a business. Overhead Costs can also be called overheads or operating expenses.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eTypes of Overhead Costs\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eOverhead Costs are a mixture of three types of costs:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eFixed Costs\u003c/strong\u003e: These are costs that stay the same over the history of payments. Things like rent, salary, reoccurring office orders, insurance costs, etc.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003eSemi-Variable Costs\u003c/strong\u003e: Semi-variable costs differ over time but not drastically, such as a salesperson’s monthly commission, or utility bills throughout the year.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003e\u003cstrong\u003e\u003ca href=\\\"/ecommerce-wiki/variable-cost\\\"\u003eVariable Costs\u003c/a\u003e\u003c/strong\u003e: Costs that are different each time they are paid are called variable costs. These include the cost of raw materials and cost for maintenance.\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eExamples Of Manufacturing Overhead Cost\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are \u003c/span\u003e\u003ca href=\\\"https://www.accountingcoach.com/blog/what-is-manufacturing-overhead-and-what-is-included\\\"\u003e\u003cspan\u003emany examples\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of these but manufacturing Overhead Costs include, but are not limited to:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003cspan\u003eRent\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMachinery Depreciation\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eUtility Bills\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eFacilities Maintenance\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eInsurance\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eTaxes\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eSalary\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eRaw Materials\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/business-ideas-that-make-money\\\"\u003e\u003cspan\u003e30 Amazing Startup Business Ideas That’ll Make You Money\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/startup-costs-dropshipping\\\"\u003e\u003cspan\u003eHow Much Does it Cost to Launch a Dropshipping Store?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/profit-margin\\\"\u003e\u003cspan\u003eWhat is Profit Margin?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/jeffrey-ho-failed-first-idea\\\"\u003e\u003cspan\u003eHis First Business Idea Failed. His Second Let Him Quit His Day Job.\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Overhead costs are the costs associated with running a business. These include the costs of creating a product, marketing it, and many other things involved in running a business.\",{\"_258\":286,\"_84\":1304,\"_190\":1302},\"What are Overhead Costs? Discover What They Are and How to Reduce Them\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1308,\"_258\":259,\"_260\":1309,\"_59\":1310,\"_84\":1311,\"_264\":1312,\"_75\":1313,\"_275\":1316,\"_279\":1317,\"_281\":1318,\"_283\":1318,\"_284\":1319,\"_288\":1321,\"_293\":1322},\"eyJsYXN0X2lkIjo1NTk4ODg2NjI1NTAsImxhc3RfdmFsdWUiOjU1OTg4ODY2MjU1MH0=\",\"gid://shopify/Article/559888662550\",\"anchor-text\",\"Anchor Text\",\"2024-05-02T13:03:57Z\",{\"_258\":267,\"_6\":1314,\"_269\":1315,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898917-what-is-anchor-text.png?v=1714655038\",\"What is Anchor Text\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Anchor Text?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eAnchor text is the clickable text in a hyperlink that links to another location or document on the web. It is commonly displayed in blue and underlined, \u003ca href=\\\"/\\\"\u003e\u003cspan\u003elike this link to Oberlo homepage\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ci\u003e\u003cspan\u003eAnchor text in HTML code:\u003c/span\u003e\u003c/i\u003e\u003c/p\u003e\\n\u003cp\u003e\u003ccode\u003e\u0026lt;a href=”\u003ca href=\\\"/\\\"\u003e\u003cspan\u003ehttps://wp-en.oberlo.com\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e“\u0026gt;like this link to Oberlo homepage\u0026lt;/a\u0026gt;\u003c/span\u003e\u003c/code\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhy is Anchor Text Important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eSearch engines use anchor text to determine the theme of the linked-to page and which keywords it should rank for. It’s an important factor in search engines’ ranking algorithms and therefore plays a crucial role in any link building for \u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eSEO strategy\u003c/a\u003e. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAs anchor text provides context for inbound links by indicating to search engines what query it should rank for, it has an impact on a website’s organic search volume and performance. A page has significant chances of ranking well in search results if a number of links with the right keywords in their anchor text are pointing to it. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eDifferent Types of Anchor Text\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eTo create a diverse anchor text profile and avoid getting penalized by search engines, you need to understand all types of anchor text. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eGeneric\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe anchor text uses a generic phrase that doesn’t provide useful context about the subject matter of the linked-to page and often serves as a call-to-action anchor. The most common examples include “click here”, “read more”, “this website”, “this page”, “go here”, etc. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003eAvoid building links with generic anchor text as they do not appeal to users and fail to maximize a link’s SEO value due to vague context.\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBranded\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe anchor text that uses a brand name as text.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eBranded anchors are the safest to use unless you have an exact match domain. An exact match domain is a \u003ca href=\\\"https://www.shopify.com/domains\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\"\u003edomain name\u003c/a\u003e that precisely matches a search query that will drive traffic to your website. For example, if your branded domain is CheapNotebooksOnline.com you should avoid using Branded anchor text or risk being penalized. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eNaked\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe anchor text uses a \u003c/span\u003e\u003ci\u003e\u003cspan\u003enaked\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e URL as text \u003c/span\u003e\u003ci\u003e\u003cspan\u003e(i.e., \u003c/span\u003e\u003c/i\u003e\u003ca href=\\\"https://ahrefs.com/blog/anchor-text/#\\\"\u003e\u003ci\u003e\u003cspan\u003ehttps://oberlo.com\u003c/span\u003e\u003c/i\u003e\u003c/a\u003e\u003ci\u003e\u003cspan\u003e)\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e. \u003c/span\u003e\u003ci\u003e\u003cspan\u003e \u003c/span\u003e\u003c/i\u003e\u003cspan\u003e \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eExact match\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe anchor text uses the exact target keyword phrase you want to rank for. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt is the most important type of anchor text as it has the most power to improve your ranking. However, you should exercise caution when using Exact match anchors, as they could also be the reason why you get penalized. For instance, if you’re trying to rank for “brown shoes” and your anchor text is also “brown shoes”, you’re running a risk of landing a penalty. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eLSI Keywords\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cb\u003e\u003c/b\u003e\u003cspan\u003eLSI is also known as ‘Latent Semantic Indexing’. The anchor text uses variations or synonyms of your target keyword. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIf your target keyword is “online store”, then LSI keywords could include “online shop”, “eCommerce store”, “open online store”, etc. You can easily find LSI keywords by typing your target keyword into Google and noting the suggested options in the search bar. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003ePartial match/Phrase match\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe anchor text uses a partial match of your target keyword. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIt’s very similar to LSI anchors, but is considered to be a more natural way of linking to another website. If you’re trying to rank for “\u003ca href=\\\"/blog/how-to-use-instagram\\\"\u003eInstagram marketing\u003c/a\u003e”, partial match anchors would be “useful tips on Instagram marketing” or “learn more about Instagram marketing”. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eLong-tail\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eThe anchor text contains longer variations of your target keyword. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eExamples of a long-tail anchor text would be: “Instagram marketing is part of the marketing mix” and “why eCommerce stores should invest in Instagram marketing”. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eImage\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eSearch engines interpret an image’s \u003c/span\u003e\u003ci\u003e\u003cspan\u003eAlt\u003c/span\u003e\u003c/i\u003e\u003cspan\u003e tag as an anchor text. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBrand + Keyword\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan\u003eAnchor text contains both your brand name and target keyword. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIf your brand name is “Flower Power” and the keyword you’re targeting is “flower arrangements”, then the anchor would be: “Christmas flower arrangements by Flower Power” or “Flower Power festive flower arrangements”. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to Optimize Anchor Text\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cb\u003eRelevancy. \u003c/b\u003e\u003cspan\u003eAnchor text is an indicator of what the ‘linked-to’ page is all about, so keeping it relevant to the context it’s in is a crucial part of optimization. To improve your ranking you must make sure your target keyword is placed within relevant content. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eDistribution of different types of anchors.\u003c/b\u003e\u003cspan\u003e Your anchor text profile will have a significant impact on your search engine rankings. To build a diverse, natural profile you need to be strategic about how you distribute different types of anchors, aiming to randomize your link-building efforts as much as possible. Branded anchors should make up around 40% of a strong anchor profile. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eRelevant guest posts. \u003c/b\u003e\u003cspan\u003eWriting for high authority domains is an effective way to build a strong link profile and boost your overall SEO efforts. It is advisable to use LSI anchors and partial match anchors for these types of posts. You should always aim to create content around topics that are relevant to your niche and use co-citation and co-occurrence to increase their value. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhat to Avoid With Anchor Texts\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cb\u003eAvoid internal linking with keyword-rich anchors.\u003c/b\u003e\u003cspan\u003e Although internal links are generally encouraged, using keyword-rich anchors can have a negative impact on your link profile. Instead, try to create long anchor text and spread the keywords within it to maximize its impact. For instance, rather than using your target keyword “\u003ca href=\\\"/blog/facebook-marketing-tips\\\"\u003eInstagram marketing tips\u003c/a\u003e”, go for something like “tips to improve your Instagram marketing”. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cb\u003eBeware of linking to spammy sites.\u003c/b\u003e\u003cspan\u003e Just as high authority sites linking to your site can improve your ranking, your site linking to toxic, spammy sites can damage your link profile due to the co-citation principle that comes into play. The sites you link to play an important role in how search engines see your page.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/guide-to-seo-101\\\"\u003eThe Beginner’s Guide to Dropshipping SEO\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-seo\\\"\u003eThe Quick and Dirty Guide to eCommerce SEO\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is Anchor Text? | Why is Anchor Text Important? | Different Types of Anchor Text | How to Optimize Anchor Text? | Read More About Anchor Text Here.\",{\"_258\":286,\"_84\":1320,\"_190\":1318},\"What is Anchor Text? - Why is Anchor Text Important? | Read the Answer\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1324,\"_258\":259,\"_260\":1325,\"_59\":1326,\"_84\":1327,\"_264\":1328,\"_75\":1329,\"_275\":1332,\"_279\":1333,\"_281\":1334,\"_283\":1334,\"_284\":1335,\"_288\":1337,\"_293\":1338},\"eyJsYXN0X2lkIjo1NTk4ODg2OTUzMTgsImxhc3RfdmFsdWUiOjU1OTg4ODY5NTMxOH0=\",\"gid://shopify/Article/559888695318\",\"business-plan\",\"Business Plan\",\"2024-05-02T13:03:59Z\",{\"_258\":267,\"_6\":1330,\"_269\":1331,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898651-what-is-a-business-plan.png?v=1714655040\",\"What is a Business Plan?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat is a Business Plan?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA business plan is a written document outlining what you plan to do as a business and how you plan to do it, in a concise way. A business plan can be short and sweet, or long and very informative. A short business plan is \u003c/span\u003e\u003ca href=\\\"https://articles.bplans.com/what-is-a-business-plan/\\\"\u003e\u003cspan\u003etitled a lean\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e business plan\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWhat is the Purpose of a Business Plan?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eThere are many purposes of a \u003ca href=\\\"https://www.shopify.com/blog/business-plan\\\"\u003ebusiness plan\u003c/a\u003e but the most important one is to provide information about your company’s goals and objectives while \u003ca href=\\\"https://www.shopify.com/blog/how-to-start-a-business\\\"\u003estarting a business\u003c/a\u003e. This information is important to many people associated with the company like employees, investors, vendors, and customers. Other reasons to create a business plan include:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cspan\u003eCommitting to a \u003c/span\u003e\u003ca href=\\\"https://roadmunk.com/guides/what-is-a-business-roadmap/\\\"\u003e\u003cspan\u003eroadmap for your company\u003c/span\u003e\u003c/a\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eSummarise what success looks like\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eHighlight corporate socially responsible activities\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eThe future plans of the company\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003eHow to do a Business Plan?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eBefore writing a business plan it is important to do research so that you create an accurate depiction of the future of your business. Get to know your competitors and identify your \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/unique-selling-proposition-usp\\\"\u003e\u003cspan\u003eUSP\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Before creating your first draft take into account who will be reading it. If the document is for external use make sure to exclude sensitive information that competitors can leverage. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eNext, you can set about \u003c/span\u003e\u003ca href=\\\"https://www.entrepreneur.com/article/38290\\\"\u003e\u003cspan\u003ecreating your first draft\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e of your business plan. The basic outline of one is: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\u003cspan\u003eExecutive Summary\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eCompany Summary\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eMarket Strategies\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eOperations and Management\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/competitive-analysis\\\"\u003e\u003cspan\u003eCompetitive Analysis\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eFinancial Plan\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eAppendix\u003c/span\u003e\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan\u003eAlthough the outline is straight forward you might not write everything in a linear fashion. Sometimes it is easier to write the executive summary last as it acts as a summary to the whole document. A company summary can be the easiest place to start as it can be brief and not so difficult to write. If you are finding it difficult to begin, use a \u003ca href=\\\"https://www.shopify.com/blog/business-plan-template\\\"\u003ebusiness plan template\u003c/a\u003e to get you started and go from there.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eOnce the document is finished it is important to have someone proof it who has not been part of the creation so that they can identify mistakes and ask the hard questions in parts. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cspan\u003eWhy is a Business Plan Important to a Business?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eA business plan provides insights into a business at any stage of a company’s lifecycle. \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli\u003e\\n\u003cspan\u003eA startup’s business plan is important for investors and employees alike as it highlights the future of the company, if it survives, and can be a deciding factor when choosing to finance or \u003c/span\u003e\u003ca href=\\\"https://businesscollective.com/3-simple-ways-to-attract-top-startup-talent/index.html\\\"\u003e\u003cspan\u003ework for such a risky business\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\u003cspan\u003eA small to medium-sized company can use a business plan to let their customers know that business is going well and what to expect from them in the coming years. This can help instill trust with customers and lead to more repeat sales.\u003c/span\u003e\u003c/li\u003e\\n \u003cli\u003e\\n\u003cspan\u003eFor larger companies, especially \u003c/span\u003e\u003ca href=\\\"https://www.investopedia.com/ask/answers/difference-between-publicly-and-privately-held-companies/\\\"\u003e\u003cspan\u003epublicly trading companies\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e, a business plan can be the reason why people choose to invest in stocks for the company, or not. If a business plan is not strategized correctly for this market, businesses may find their stock devalued and lose more than a few customers.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-write-a-business-plan\\\"\u003e\u003cspan\u003eHow to Write a Business Plan for Your Dropshipping Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/business-ideas-that-make-money\\\"\u003e\u003cspan\u003e6 Powerful Online Business Models You Need to Know\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/business-ideas-that-make-money\\\"\u003e\u003cspan\u003e30 Small Business Ideas That’ll Make You Money\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-start-a-dropshipping-business\\\"\u003e\u003cspan\u003eHow to Start a Dropshipping Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is the Purpose of a Business Plan | Why is a Business Plan Important to a Business | What is a Business Plan? | How to do a Business Plan | Learn More about Business Plans\",{\"_258\":286,\"_84\":1336,\"_190\":1334},\"What is a Business Plan? Discover What the Purpose of a Business Plan\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1340,\"_258\":259,\"_260\":1341,\"_59\":1342,\"_84\":1343,\"_264\":1344,\"_75\":1345,\"_275\":1348,\"_279\":1349,\"_281\":1350,\"_283\":1350,\"_284\":1351,\"_288\":1353,\"_293\":1354},\"eyJsYXN0X2lkIjo1NTk4ODg3MjgwODYsImxhc3RfdmFsdWUiOjU1OTg4ODcyODA4Nn0=\",\"gid://shopify/Article/559888728086\",\"inventory\",\"Inventory\",\"2024-05-02T13:04:01Z\",{\"_258\":267,\"_6\":1346,\"_269\":1347,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898642-what-is-inventory.png?v=1714655042\",\"What is Inventory?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is Inventory?\u003c/b\u003e\u003c/h2\u003e\u003cp\u003eInventory, also known as ‘stock’, refers to the physical goods and materials that a business owns with a view of future resale.\u003c/p\u003e\u003cp\u003eInventory can be divided into:\u003c/p\u003e\u003cul\u003e\\n\u003cli\u003e\u003cspan\u003eRaw materials – materials or components used in making a product \u003c/span\u003e\u003c/li\u003e\\n\u003cli\u003e\u003cspan\u003eWork-in-progress (WIP) – materials and components that are being used to make a product\u003c/span\u003e\u003c/li\u003e\\n\u003cli\u003e\u003cspan\u003eFinished goods – goods ready for sale \u003c/span\u003e\u003c/li\u003e\\n\u003cli\u003e\u003cspan\u003eGoods for resale – returned goods that can be resold\u003c/span\u003e\u003c/li\u003e\\n\u003c/ul\u003e\u003cp\u003e\u003cspan\u003eInventory is one of the most important business assets because the turnover of inventory typically represents the primary source of revenue of any retail business. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eHow to Form Your Inventory?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003eA smartly formed inventory can not only contribute to a higher turnover but can also help you alleviate seasonality slumps and capitalize on market trends. This is especially relevant if you’re running a drop shipping online store, as you can add and remove products in minutes without any upfront investment.\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eThe essential elements to take into account when assembling your inventory include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eStocking niche products:\u003c/b\u003e\u003cspan\u003e niche eCommerce stores have quickly gained ground and become the new eCommerce trend. There is no point in fighting the big players – focus on discovering niche products that are underserved and supply to special interest groups to secure steady income and potential for growth.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eStocking trending products: \u003c/b\u003ecatching a trend just before it explodes would be an ideal scenario. Products that are trendy enjoy high search volume and can generate a fair bit of traffic, a portion of which you can hopefully convert into sales. However, be careful not to source products that are available everywhere else because high competition will eat into your margins.\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cstrong\u003eStocking bestsellers\u003c/strong\u003e: \u003cspan\u003eregularly checking bestselling product categories on retail giants like \u003c/span\u003e\u003ca href=\\\"https://bestselling.aliexpress.com/en?spm=2114.40010308.1000001.2.597Tps\\\"\u003e\u003cspan\u003eAliExpress\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and \u003c/span\u003e\u003ca href=\\\"https://www.amazon.com/Best-Sellers/zgbs?ref=ali-importer-blog\\\"\u003e\u003cspan\u003eAmazon\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e will help you quickly and accurately identify the best sales opportunities and pinpoint emerging trends early. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eStocking products that sell all-year-round:\u003c/b\u003e\u003cspan\u003e there are certain products, such as sunglasses or winter hats that yield great margins but expose you to seasonality risks. It’s always a good idea to base the core of your business on products that sell all-year-round and stock season bestsellers to capture the fleeting trends only.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is Inventory Management? \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003e\u003ca href=\\\"https://www.shopify.com/retail/inventory-management\\\"\u003eInventory management\u003c/a\u003e is the process of controlling the flow of a company’s stock. It encompasses ordering, transferring, and storage of goods in order to ensure the business maintains the right quantity of stock on hand to meet customer demand. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eEffective inventory management is a dynamic process that focuses on balancing stock levels to ensure a company doesn’t suffer any financial losses due to overstocking or understocking. Whether you run out of stock or order too many items, your bottom line will take a hit. For eCommerce businesses that have to manage multiple factors around the clock, including handling different payment channels and maintaining a functional eCommerce platform backed by just the right amount of stock, implementing concrete inventory management practices from the start is crucial to make sure everything stays under control as the business scales. A real-time inventory management system can prove to be a helpful tool. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eThe Most Common Methods of Sourcing Products and Inventory \u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eDepending on the product you sell, your market, and your niche, you can choose the method that is most suitable for your business. These are the four most common methods:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli\u003e\\n\u003cb\u003eMake. \u003c/b\u003e\u003cspan\u003eAs the name implies, this method is suited to people who can physically make the products themselves. Producing the goods manually can be resource and time-intensive, especially if your business takes off. However, it’s a very low-risk startup option that also gives you full control over the quality of your products and your brand. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eManufacture. \u003c/b\u003e\u003cspan\u003eAlthough a viable option for people who have a \u003c/span\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003e\u003cspan\u003eunique idea for a product\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e that doesn’t exist, it’s also the method that requires the greatest financial investment upfront. Sourcing a manufacturer to produce the product for you could lead to achieving the greatest margins and maintaining full control of your brand and product quality, but it also presents the greatest risks in terms of setup costs and the time it takes to take the product from the prototyping to production stage. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003cb\u003eWholesale. \u003c/b\u003e\u003cspan\u003eThis is a less risky option compared to manufacturing, which allows you to buy ready-to-sell goods at discounted wholesale rates and sell them for a higher price. Minimum order quantities vary from manufacturer to manufacturer, but are typically reasonable and can require only a minimal investment upfront. It is not unusual for wholesale goods to achieve 50% margins. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli\u003e\\n\u003ca href=\\\"/blog/aliexpress-dropshipping-guide\\\"\u003e\u003cb\u003eDropship\u003c/b\u003e\u003c/a\u003e\u003cb\u003e.\u003c/b\u003e\u003cspan\u003e As the cheapest method to get started, dropshipping is a great option for people who don’t want to deal with inventory management and product shipping. The essence of dropshipping is that you can sell products you don’t actually own by partnering with manufacturers who fulfill the orders for you. Because of the low startup costs and the fact that you don’t need to purchase any inventory upfront, dropshipping is one of the most popular methods and is, therefore, a very competitive playing field.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eJust-In-Time Inventory\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eJust-in-time (JIT) inventory refers to an alternative method of stock control, which focuses on reducing spending and improving business competitiveness by ordering and receiving inventory exactly when it’s needed and neither sooner nor later.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eJIT system is driven by the objective to reduce costs related to inventory maintenance, such as warehousing costs, staff required to look after it as well as waste costs. It allows companies to invest savings into other opportunities. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eHowever, just-in-time inventory management has its challenges. It requires businesses to be exceptionally good at forecasting demand to make sure they don’t run out of a product because this would lead to lost sales and customer dissatisfaction. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eWhile reducing non-essential costs is a smart strategy to improve your return on investment, it’s essential to keep accurate track of inventory levels to prevent stockouts and meet the constantly changing consumer demand.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eIf you’re running a drop shipping business, Oberlo’s Inventory Auto-Updates feature can take care of this for you by constantly updating your product price and stock levels, so that you never put yourself in trouble by selling out-of-stock products or selling them above your retail price.\u003c/span\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-sell-fall\\\"\u003eBest Dropshipping Products to Sell in Fall\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003e20+ Trending Products to Sell\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-to-sell-in-summer-2017\\\"\u003eBest Dropshipping Products to Sell in Summer\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003chr\u003e\\n\u003cp\u003eIs there anything else you’d like to know more about and wish was included in this article? Let us know!\u003c/p\u003e\",\"What is inventory? | How to form your inventory? | Read this article to learn more about the most common methods of sourcing products and inventory.\",{\"_258\":286,\"_84\":1352,\"_190\":1350},\"What is Inventory? What is inventory management? | Read More.\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1356,\"_258\":259,\"_260\":1357,\"_59\":1358,\"_84\":1359,\"_264\":1360,\"_75\":1361,\"_275\":1364,\"_279\":1365,\"_281\":1366,\"_283\":1366,\"_284\":1367,\"_288\":1369,\"_293\":1370},\"eyJsYXN0X2lkIjo1NTk4ODg3NjA4NTQsImxhc3RfdmFsdWUiOjU1OTg4ODc2MDg1NH0=\",\"gid://shopify/Article/559888760854\",\"branding\",\"Branding\",\"2024-05-02T13:04:03Z\",{\"_258\":267,\"_6\":1362,\"_269\":1363,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603953960-what-is-branding.png?v=1714655043\",\"What is Branding?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is branding?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBranding is the process of creating a strong, positive perception of a company, its products or services in the customer’s mind by combining such elements as logo, design, mission statement, and a consistent theme throughout all marketing communications.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA strong brand helps companies cut through the noise and make a lasting impression on their \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/target-audience\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003etarget audience\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e. In essence, branding is the promise a company makes to its customers. It's what differentiates one company from another and communicates the \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/unique-selling-proposition-usp\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eunique value\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e that the company provides. It's an integral part of every successful business and a critical component in building \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/customer-loyalty-programs-grow-giving\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ecustomer loyalty\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, fostering trust, and driving business growth.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAn effective \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/brand-strategy\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ebranding strategy\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e doesn't just happen overnight – it's a result of meticulous planning, development, and growth, leading to a perception that's designed to stand out in the crowded marketplace and connect with customers on an emotional level.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy is branding important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBranding is crucial because it helps create a unique identity for a company, influencing customer perception and driving business growth. It's the foundation upon which businesses build their reputation and foster customer loyalty.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBranding can help with:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eIdentity and recognition:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Branding helps create a unique identity for a company and makes it recognizable to consumers. This distinct identity allows a company to stand out in a crowded market, making it not just recognizable, but memorable.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eTrust and credibility:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Beyond just making a company known, effective branding helps build trust and credibility. A well-branded company can foster a sense of reliability and assurance, positively swaying customers' buying decisions and fostering long-term loyalty.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCustomer loyalty:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Good branding goes beyond the physical attributes of a product or service. It creates emotional connections with customers, leading to increased customer loyalty and advocacy. This loyalty often translates into repeat purchases and word-of-mouth referrals, both of which are valuable for a company's growth.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eBusiness value:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Strong branding can contribute to the perceived value of a company. It makes a company more attractive to potential investors and can potentially increase its financial value. This increased value is beneficial for long-term business growth and sustainability.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eGuidance for decisions\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e: A clear brand provides direction for marketing efforts and other business decisions, ensuring consistency across different areas of the business. This consistency is key in maintaining a strong, unified brand image.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eEffective branding is about creating a unique identity that resonates with customers and sets a company apart from the competition. Good branding means lasting customer loyalty and sustained business growth.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eKey elements of branding\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCreating a strong brand involves several key elements that work together to project a cohesive and consistent image to your audience. These elements are the building blocks that define your brand and set the foundation for all your marketing efforts. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eLet's explore some of these essential elements:\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBrand name and logo\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe brand name and logo are often the first things that come to mind when people think about a brand. They are the most visible elements of a brand and play a crucial role in making a brand memorable and recognizable.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen creating a logo, consider your target audience and the unique message of your brand. You could hire a professional designer or use a \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/online-logo-maker-free\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003efree logo maker\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e for a cost-effective and efficient solution, ensuring your logo stands out from the competition.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBrand messaging and voice\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBrand messaging is about the value proposition, the promises made to the customer, and the overall narrative that the brand conveys. The \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/brand-voice\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ebrand voice\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is the consistent tone used in all communications, reflecting the brand's personality.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo create effective brand messaging and voice, consider the voice of your target audience, what values your brand stands for, and how you want to communicate these aspects to your audience.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBrand positioning and differentiation\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBrand positioning is about defining where your brand sits in the minds of customers relative to your competitors. Differentiation is about showcasing what makes your brand unique and sets it apart from the competition.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo effectively position and differentiate your brand, understand your target market, identify your unique selling points, and communicate them clearly and consistently.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBrand personality and values\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBrand personality refers to the human characteristics associated with a brand, while brand values are the guiding principles that inform the company's behavior and decision-making.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo establish a strong brand personality and values, consider the traits you want your brand to be associated with and ensure that your actions and communications align with these traits.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBrand experience and customer relationship\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBrand experience is the sum of all interactions a customer has with the brand, while the customer relationship is about how the brand engages with its customers over time to foster loyalty and satisfaction.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBuilding strong customer relationships involves understanding and meeting customer needs, providing excellent service, and consistently delivering on your brand promises. This ongoing engagement fosters customer loyalty and can lead to repeat business and referrals.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to build a strong brand\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBuilding a strong brand requires strategic planning, creativity, and a deep understanding of your target audience.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eStep 1: Define Your Target Audience\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYour target audience is the specific group of people who are most likely to need or want your products or services. Defining this group involves understanding their needs and how your offerings can meet them.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo define your target audience:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eConduct market research: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eUse surveys, interviews, and observation to gather data about your industry and current customers. This can provide valuable insights into who is buying similar products or services and why.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAnalyze your competitors:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Research your competitors to understand who they are targeting, what strategies they are using, and how you can differentiate your brand.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAnalyze your product or service:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Take a close look at the features and benefits of your offering. Who will find these benefits valuable? What problems does your product or service solve for them?\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eSegment your audience:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Break down your audience into segments based on characteristics like demographics (age, gender, location, income level, occupation) and psychographics (interests, attitudes, behaviors, lifestyle preferences). This can help you tailor your branding and marketing efforts to meet the specific needs of each segment.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCreate customer personas:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Develop detailed profiles of your ideal customers, including their needs, preferences, and behaviors. These personas can help you understand your customers better and create a brand that truly resonates with them.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eEvaluate and refine:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Once you've defined your target audience, evaluate whether it's specific enough, yet large enough to sustain your business. You may need to refine your target audience over time as you learn more about your customers.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003eStep 2: Define your brand personality\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhile your brand identity includes the visible elements of your brand, such as your logo, colors, and design, your brand personality goes a step further. It infuses your brand with human characteristics that influence how your brand communicates and connects with its audience.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo define your brand personality, start by listing the traits that you believe best represent your brand. Is your brand modern or traditional? Playful or serious? Rebellious or conforming?\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThink about your target audience and their preferences. What kind of brand personality would they connect with? It's essential to align your brand personality with your audience's expectations to build a strong, relatable brand.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eStep 3: Create your brand name and logo\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe right brand name can speak volumes about your business, conveying your brand personality and setting the tone for future interactions. It should be unique, memorable, and reflective of the products or services you offer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYour logo, on the other hand, is a visual representation of your brand. It's more than just an attractive design; it's a powerful communication tool that can convey your brand's values and personality. When designing your logo, consider the following elements:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eColors:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Different colors can evoke different emotions. Choose colors that align with the feelings you want to evoke in your audience.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eFonts: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe typography you choose can express your brand's personality. Whether it's modern, traditional, playful, or formal, make sure it aligns with your brand.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eShapes:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The shapes used in your logo can symbolize different aspects of your business. For instance, circular shapes can suggest community and unity, while straight lines can imply stability and strength.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCreating a logo that encapsulates the essence of your brand can be challenging. You can choose to hire a professional designer, which can be a significant investment, but it ensures a unique and effective logo. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eRemember, your brand name and logo will be on all your products, signage, and marketing materials, so it's worth investing the time and resources to get them right. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eStep 4: Develop your brand messaging\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBrand messaging is the language that your brand uses to communicate with its audience. It's the essence of what you want to convey about your brand to your customers. Your brand messaging should align with your brand personality and be crafted to resonate with your target audience.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen developing your brand messaging, there are several key aspects to consider:\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eValue proposition\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYour value proposition is the unique value that your products or services provide to customers. It's what sets you apart from your competitors and gives customers a reason to choose your brand. Your value proposition should be clear, concise, and compelling. It should communicate not only what you offer but also how it benefits your customers and how it's different from what your competitors offer.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eBrand voice\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYour brand voice is the tone and style in which you communicate your brand messaging. It should reflect your brand personality and be consistent across all platforms and touchpoints. Whether your brand voice is formal or casual, serious or playful, it should resonate with your target audience and reinforce your brand identity.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eConsistency\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eConsistency is key in brand messaging. Your messaging should be consistent across all platforms and touchpoints, from your website and social media to your advertising and customer service. Consistent messaging helps build familiarity and trust with your audience and creates a cohesive brand image.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eStep 5: Foster a positive brand experience\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe brand experience is the sum of all interactions a customer has with your brand. This can include everything from browsing your website and interacting with your social media, to using your product or service and contacting your customer service.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eEvery touchpoint contributes to the overall brand experience. Strive to make each interaction positive and reflective of your brand values. This not only helps to build a strong brand but also fosters customer loyalty.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo foster a positive brand experience:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eEngage on social media:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Social media platforms are a great way to interact with your audience. Respond to comments, share relevant content, and create engaging posts that encourage interaction.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eProvide excellent customer support: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eGood customer service can enhance your brand experience and build customer loyalty. Make sure your customer support team is knowledgeable, friendly, and responsive.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eDeliver on your brand promise: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMake sure your products or services live up to the expectations set by your branding. This builds trust and can turn a first-time buyer into a loyal customer.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAsk for feedback:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Regularly ask for feedback and be responsive to it. This shows customers that you value their opinions and are always striving to improve.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCreate a user-friendly website: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYour website is often the first point of contact for customers. Make sure it's easy to navigate, visually appealing, and provides all the necessary information.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eRemember, consistently delivering on your brand promise and providing excellent customer service are key to fostering a positive brand experience.\u003c/span\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/instagram-influencer-marketing\\\"\u003eHow to Do Instagram Influencer Marketing\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ultimate-guide-snapchat-marketing\\\"\u003e8 Best Snapchats to Follow for Marketing Inspiration\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003c/p\u003e\",\"What is Branding? | So how do you go about building a brand for an online shop? Here are the key steps in eCommerce branding, read more...\",{\"_258\":286,\"_84\":1368,\"_190\":1366},\"What is Branding? - Why is Branding important? - Get the Answers Here\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1372,\"_258\":259,\"_260\":1373,\"_59\":1374,\"_84\":1375,\"_264\":1376,\"_75\":1377,\"_275\":1380,\"_279\":1381,\"_281\":1382,\"_283\":1382,\"_284\":1383,\"_288\":1385,\"_293\":1386},\"eyJsYXN0X2lkIjo1NTk4ODg3OTM2MjIsImxhc3RfdmFsdWUiOjU1OTg4ODc5MzYyMn0=\",\"gid://shopify/Article/559888793622\",\"market-research\",\"Market Research\",\"2024-05-02T13:04:05Z\",{\"_258\":267,\"_6\":1378,\"_269\":1379,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489852-what-is-market-research.png?v=1714655045\",\"What is Market Research?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is market research?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMarket research is a systematic process of collecting, analyzing, and interpreting information about a \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/target-audience\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003etarget market\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, consumers, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/competitive-analysis\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ecompetitors\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, and the industry as a whole. It's a critical tool that businesses use to understand the dynamics of their market and make informed decisions.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn practice, this involves a deep dive into the target market, understanding its size, demographics, and buying patterns. Market researchers seek to understand consumers by grasping their needs, preferences, and behaviors; while also dissecting competitor strategies to stay abreast of broader industry trends and regulations.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eHow does market research work?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMarket research is not a one-time activity, but an ongoing process that companies engage in at various stages of their business cycle to keep up with market dynamics. Businesses use market research to understand potential demand, identify the target audience, and shape their offerings when planning a new product, service, or business expansion. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe strategies used in market research can vary widely depending on the company's goals, the nature of the market, and the resources available. Some common strategies include surveys, focus groups, interviews, observation, and market experiments. Surveys and focus groups are often used to gather quantitative data about customer preferences and behaviors, while interviews and observation provide qualitative insights into why customers behave the way they do.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn the digital age, companies also leverage online tools and platforms for market research. \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/social-media-marketing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSocial media\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, online surveys, web analytics, and digital marketing tools provide a wealth of data about customer behaviors, preferences, and trends.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eRegardless of the strategies used, the goal of market research is always to inform decision-making, reduce risk, and maximize the chances of success in the market. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTypes of market research\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMarket research employs a combination of two broad categories: primary and secondary. These categories are based on whether the information is collected firsthand (primary) or has been gathered and compiled by others (secondary).\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003ePrimary market research\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ePrimary market research involves gathering new, firsthand data directly from the source—your customers or potential customers. It's used to understand customer needs and preferences, test new product concepts, gauge customer satisfaction, and understand market trends. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMethods of primary market research are meant to provide businesses with direct and specific feedback about their products or services, and might include: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eSurveys: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThese are structured questionnaires given to a sample of a population, and are designed to gather responses on specific topics. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eInterviews:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These are more in-depth than surveys and involve one-on-one conversations between the researcher and the respondent.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eFocus groups: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThese are moderated discussions with a small group of individuals. They can reveal valuable insights into customer perceptions and attitudes. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eObservation: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis involves watching and recording the behavior of consumers in a natural or controlled setting. For example, a retailer might observe how customers move through a store to inform the layout and product placement.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eMarket experiments:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These involve changing variables in a marketplace and analyzing the results. A company might run an experiment to see how a small price increase affects sales of a product, for example. \u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003eSecondary market research\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSecondary market research involves using existing data that others have collected. It's used to gain a broad understanding of the market, identify \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/ecommerce-trends\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eecommerce trends\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, understand competitors, and inform strategic \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/how-to-write-a-business-plan\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ebusiness planning\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSecondary market research sources can provide businesses with a wealth of information that can help shape their strategies and decisions. Examples of secondary market research might include: \u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eIndustry reports:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These provide a comprehensive overview of industry trends, market size, customer behavior, and competitive analysis. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eGovernment statistics: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThese provide publicly available data on demographics, economics, and geography. A company might use government statistics to understand the demographic makeup of a potential market or the economic conditions in a specific region.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAcademic studies: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eResearch conducted by educational institutions can provide in-depth insights into various aspects of the market. A company might use an academic study to understand the psychological factors that influence consumer purchasing decisions.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eMedia content: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eArticles, news reports, and broadcasts can provide valuable information about market trends, customer preferences, and competitive activities.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eData from online sources and databases:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These include social media, online publications, and specialized data repositories. A company might analyze social media posts to understand what customers are saying about their brand.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eHow is market research conducted?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen a company faces a business challenge or identifies an opportunity for growth, market research often becomes a key tool to gain the insights needed to make informed decisions.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhile the specific approach to market research can vary greatly depending on the unique needs and goals of each business, the process typically includes a few key steps: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eDefine the goal of the study: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis involves identifying a business problem or opportunity and determining what information is needed to address it. The goal of the study will guide the rest of the research process.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eChoose the type of market research: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe company must consider the type of information they need. Are they looking for statistical data or seeking to understand customer opinions? Do they need up-to-date information from their customers, or are they looking for broader industry trends? The answers to these questions will help determine whether to focus on primary research, secondary research, or a combination of both.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCollect the data:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e This step involves selecting the appropriate research methods and carrying out the research. It could involve designing and conducting surveys or interviews, setting up observations or experiments, or sourcing and reviewing relevant secondary data.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAnalyze the data\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e: Once the data has been collected, it needs to be analyzed. This involves interpreting the data, looking for patterns and trends, and drawing conclusions.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb style=\\\"letter-spacing: 0px;\\\"\u003eUse the findings to inform decisions:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Business decisions should be informed by the insights gained from the market research. This could involve developing a new product, entering a new market, adjusting pricing, changing a marketing strategy, or even redefining the company's target audience. The specific actions will depend on the findings of the research.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\u003cp\u003e\u003c/p\u003e\\n\u003chr\u003e\\n\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/podcast/email-marketing\\\"\u003eHow Email Marketing Helped Build a 7-Figure Dropshipping Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/find-perfect-dropshipping-products\\\"\u003eHow to Find the Perfect Dropshipping Products\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-suppliers\\\"\u003eHow To Select Dropshipping Suppliers\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/starting-ecommerce\\\"\u003eThe Ultimate Guide to Starting Your First Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003c/p\u003e\",\"What is market research? | Sources of primary market research | Sources of secondary market research | Read this article to learn more about market research\",{\"_258\":286,\"_84\":1384,\"_190\":1382},\"What is Market Research? - Learn How is Market Research Conducted\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1388,\"_258\":259,\"_260\":1389,\"_59\":1390,\"_84\":1391,\"_264\":1392,\"_75\":1393,\"_275\":1396,\"_279\":1397,\"_281\":1398,\"_283\":1398,\"_284\":1399,\"_288\":1401,\"_293\":1402},\"eyJsYXN0X2lkIjo1NTk4ODg4MjYzOTAsImxhc3RfdmFsdWUiOjU1OTg4ODgyNjM5MH0=\",\"gid://shopify/Article/559888826390\",\"benchmarking\",\"Benchmarking\",\"2024-05-02T13:04:07Z\",{\"_258\":267,\"_6\":1394,\"_269\":1395,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898652-what-is-benchmarking.png?v=1714655047\",\"What is Benchmarking?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is benchmarking?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBenchmarking is a systematic process where a business measures its success against \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/competitive-analysis\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ecompetitors\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e to discover how to improve performance. The goal is to identify gaps, learn from the best, and make necessary improvements to achieve superior performance.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn benchmarking, businesses compare metrics, processes, and practices to industry leaders, competitors, and other organizations⁠—gaining an understanding of where they excel and where they lag. The goal is to not just mimic successful \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/growth-strategy\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003egrowth strategies\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, but to adapt and innovate based on these insights, ultimately enhancing their own performance.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTypes of benchmarking\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBenchmarking can be approached in various ways, each with its unique focus and benefits. Here are some of the most common types:\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eInternal benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eInternal benchmarking involves comparing business processes and performance data within an organization. It's often the first step in benchmarking as it helps identify the best practices within the company. This type of benchmarking is particularly useful for large organizations with several departments performing similar tasks. It allows for the sharing of best practices and promotes consistency across the organization.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eExternal benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eExternal benchmarking, on the other hand, involves comparing a company's performance with companies outside its industry. This can provide fresh insights and innovative strategies that may not be found within the industry. It broadens the perspective and can lead to the adoption of new methodologies and practices that can significantly improve performance.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eCompetitive benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.oberlo.com/blog/competitive-intelligence\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCompetitive benchmarking\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e involves a company comparing its performance against its direct competitors. This type of benchmarking is crucial for understanding a company's position in the market. It helps to identify strengths to be leveraged and weaknesses to be improved upon, providing a clear direction for strategic planning.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eProcess benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eProcess benchmarking focuses on a business's specific processes. The aim is to compare these processes with those of industry leaders to identify areas for improvement. It's about understanding the 'how' behind the success of top-performing companies and adapting their methods to improve one's own processes.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eStrategic benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eStrategic benchmarking involves the examination of how successful companies operate on a broader scale. It's about understanding their overall business strategies and how they drive success. This type of benchmarking can provide valuable insights into long-term strategies that have proven successful in the industry.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003ePerformance benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ePerformance Benchmarking involves a company's tracking of \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/key-performance-indicators-kpis\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ekey performance indicators (KPIs)\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e such as email sign-ups, conversion rates, or customer retention rates over time. This allows businesses to compare their current performance against their own historical data, providing a clear picture of their progress.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eTechnical benchmarking\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTechnical benchmarking is used when a company wants to compare its technical products, processes, or services against the best in the field. This type of benchmarking is common in industries where technology plays a crucial role. It helps companies stay up-to-date with the latest technological advancements and maintain a competitive edge in the market.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eBenefits of benchmarking\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn an increasingly competitive market, benchmarking can provide valuable insights that can drive strategic decisions and foster continuous improvement. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSpecifically, it can help:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePlan and set goals:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e By providing a clear picture of a business's current standing, benchmarking informs strategic planning and facilitates the setting of realistic, data-driven goals.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eImprove procedural inefficiencies:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Benchmarking can help identify procedural inefficiencies that might be hard to spot, providing a clear path for operational improvements.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eReduce operating costs:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Benchmarking identifies areas where costs can be reduced without compromising on quality or performance, leading to significant savings and improved profitability.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eUnderstand your competitive advantage:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e By benchmarking against competitors, businesses can understand and leverage their unique strengths, differentiating themselves in the market.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eEncourage innovation:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Exposure to new \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/business-ideas-that-make-money\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ebusiness ideas\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, processes, and practices through benchmarking can spark innovation, inspiring businesses to think creatively and develop unique solutions.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eHow the benchmarking process works\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe benchmarking process can vary, depending on a company's specific goals and the nature of the operations being examined, but in general, benchmarking includes a few key steps:\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e1. Planning\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe planning stage involves identifying what to benchmark and who to benchmark against. Companies need to decide what aspects of their operations they want to improve. This could be anything from a specific process, like order fulfillment, to a key performance indicator, like conversion rate. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThey also need to identify a suitable benchmark for comparison, such as a direct competitor, a business in a different industry, or industry standards, and define what success looks like in relation to this benchmark. This could be improving a KPI by a certain percentage, reducing costs, or increasing efficiency.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e2. Collecting information\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWith a clear plan in place, the focus shifts to gathering information about the company's performance. Depending on what is being benchmarked, the specific data required will vary. The tools and technologies used for this process can range from basic data tracking software to advanced analytics platforms, depending on the company's needs and capabilities.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eFor example, an ecommerce company benchmarking its conversion rate would need to collect data on the number of visitors to its website, the number of purchases made, and comparable data, either from a competitor, another business, or their own historical data. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e3. Data analysis\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAfter the data has been collected, the next stage is analysis. The goal is to identify trends, gaps, and opportunities for improvement by comparing the company's performance with the benchmark.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis comparison could reveal insights such as whether the company's performance is improving or declining, or how it stacks up against the competition. The analysis should be objective and thorough, as the insights gained in this stage will inform the actions taken in the next step.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e4. Action\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eFollowing the analysis, companies take action based on the insights gained. The specific actions will depend on the findings of the analysis. This could involve making changes to processes, investing in new technology, or training staff.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eFor instance, if the analysis revealed that a competitor's conversion rate is higher and they offer free shipping, an ecommerce company might decide to implement a similar offer. The aim is to apply the insights from the benchmarking process in a way that improves the company's performance.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003e5. Monitoring results\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMonitoring the results of an action is crucial to understanding whether the changes implemented have been effective. In the monitoring stage, companies will track the same metrics that were benchmarked and assess whether the actions taken have led to improvements. This is an ongoing process that helps maintain the gains from benchmarking and supports continuous improvement.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/market-research\\\"\u003e\u003cspan\u003eWhat is Market Research\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/get-sales-dropshipping/competitor-analysis\\\"\u003e\u003cspan\u003eHow to Crush the Competition with Competitor Analysis\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/online-marketing-strategies-ecommerce\\\"\u003e\u003cspan\u003e9 Marketing Strategies That’ll Level Up Your Ecommerce Store\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/ecommerce-how-to-start-and-succeed\\\"\u003e\u003cspan\u003eEcommerce Roadmap: How To Start A Successful Ecommerce Business\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Benchmarking is a process where you measure your company’s success against competitors to see a gap in performance that can be closed by improving your performance. Find out more\",{\"_258\":286,\"_84\":1400,\"_190\":1398},\"What Is Benchmarking? Definition, Examples and Meaning - Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1404,\"_258\":259,\"_260\":1405,\"_59\":1406,\"_84\":1407,\"_264\":1408,\"_75\":1409,\"_275\":1412,\"_279\":1413,\"_281\":1414,\"_283\":1414,\"_284\":1415,\"_288\":1417,\"_293\":1418},\"eyJsYXN0X2lkIjo1NTk4ODg4NTkxNTgsImxhc3RfdmFsdWUiOjU1OTg4ODg1OTE1OH0=\",\"gid://shopify/Article/559888859158\",\"supplier\",\"Supplier\",\"2024-05-02T13:04:09Z\",{\"_258\":267,\"_6\":1410,\"_269\":1411,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489852-what-is-a-supplier.png?v=1714655050\",\"What is a Supplier?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a supplier?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA supplier is a person or business that provides a product or service to another entity. Acting as intermediaries, suppliers bridge the gap between \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/manufacturing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003emanufacturers\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e and retailers by offering the raw materials, products, or services that businesses require for their operations.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe relationship between a business and its suppliers is symbiotic. Businesses rely on suppliers for the necessary inputs for their products or services, and suppliers depend on businesses to purchase their offerings. This interdependence forms the basis of the supplier-customer relationship in the business world.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eTypes of suppliers\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSuppliers come in various forms, each serving a unique role within the \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/supply\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003esupply chain\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e. Here are some common types of suppliers:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eManufacturers:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These are the entities that produce goods from raw materials. They are often the first link in the supply chain, supplying products to \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/wholesale\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ewholesalers\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e or retailers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eWholesalers:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Wholesalers buy goods in large quantities from manufacturers and then resell them in smaller batches to retailers. \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/how-to-sell-wholesale\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSelling wholesale\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is crucial in the supply chain as it facilitates the distribution of goods from manufacturers to various retailers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eDistributors\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e: Distributors, like wholesalers, buy products from manufacturers. However, they often offer additional services such as marketing and after-sales support. They play a significant role in reaching out to the market and promoting the products.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eIndependent craftspeople:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These are individuals who produce and supply their own goods. They might sell directly to consumers, to retailers, or through a distributor.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eImporters and exporters:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These suppliers operate on an international scale, importing goods from manufacturers in one country and exporting them to retailers in another. They play a critical role in global trade and the international supply chain.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eUnderstanding the different types of suppliers helps businesses choose the right ones based on their specific needs and operational requirements.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eImportance of suppliers to the product life cycle\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSuppliers play a vital role at every stage of \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/product-development\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eproduct development\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, from conception to distribution. Their influence extends beyond the provision of raw materials or services and impacts the quality, cost, and delivery of the final product. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHere's a look at how suppliers contribute at each stage:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eSourcing raw materials:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Suppliers provide the essential raw materials needed to create a product. The quality and cost of these materials can significantly influence the final product's quality, cost, and profitability.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eEnsuring quality control:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Suppliers are often responsible for the initial stages of quality control. They ensure that the materials or components provided meet the required standards and specifications.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eFacilitating production process:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e By delivering materials or components on time, suppliers enable smooth production processes. Delays in supply can lead to production hold-ups, affecting the product's time to market.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAssisting in distribution logistics:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Some suppliers, particularly distributors, play a role in getting the product to the market. They help in transporting the goods from the production site to various retail outlets.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThrough their significant contribution to the product lifecycle, suppliers have a direct impact on a product's success in the market. Therefore, maintaining a good relationship with suppliers is crucial for any business.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is supplier relationship management?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSupplier relationship management (SRM) is a systematic approach for developing and managing partnerships with suppliers to achieve a competitive advantage. It involves creating closer, more collaborative relationships with key suppliers in order to uncover and realize new value and reduce risk.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSRM is crucial in business as it helps in managing supplier interactions effectively, ensuring a steady supply of goods or services, and fostering strong, mutually beneficial relationships. It is a key component of supply chain management and a determinant of its success.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBenefits of SRM\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCost savings:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Effective SRM can lead to significant cost reductions through improved process efficiency and reduced waste.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eImproved quality:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e By fostering closer relationships with suppliers, businesses can work collaboratively to improve product quality.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eBetter supplier performance:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e SRM allows businesses to monitor supplier performance, identify issues early, and work together to implement improvements.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eRisk mitigation:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Through SRM, businesses can identify potential supply chain risks and work with suppliers to develop mitigation strategies.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003eBest practices for SRM\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eImplementing SRM effectively requires a strategic approach that focuses on building and nurturing relationships with suppliers. Here are some best practices that can guide businesses in their SRM efforts:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eRegular communication:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Maintain open lines of communication with suppliers to address issues promptly and foster mutual understanding.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePerformance evaluation:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Regularly assess supplier performance against agreed-upon metrics to ensure they meet expectations.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eLong-term relationship building:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Focus on building long-term relationships with suppliers, rather than short-term, transactional interactions.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCollaboration:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Work collaboratively with suppliers to identify and implement improvements, rather than imposing demands.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThrough effective SRM, businesses can optimize their supply chain, improve product quality, and achieve better business outcomes.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eSupplier vs. Distributor: What’s the difference?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhile the terms 'supplier' and 'distributor' are often used interchangeably in the business world, they represent different stages in the supply chain and perform distinct roles.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA \u003c/span\u003e\u003cb\u003esupplier\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is a person or business that provides a product or service to another entity, often a distributor. Suppliers can be manufacturers who provide raw materials or finished goods, or they can be businesses that supply services. They are typically responsible for ensuring the quality of the products and delivering them to the next link in the supply chain.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOn the other hand, a \u003c/span\u003e\u003cb\u003edistributor\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is an entity that buys products from suppliers and sells them to the retailer or the end customer. Distributors often provide added services such as product promotion, market research, and after-sales services. They play a crucial role in getting the product from the supplier to the market.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhile both suppliers and distributors play critical roles in the supply chain, the focus of suppliers is more on the production and provision of goods or services, whereas distributors are concerned with getting these goods or services to the market.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"https://handshake.com/\\\"\u003e\u003cspan\u003eWholesale Suppliers And All You Need to Know About Them\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/resource-management\\\"\u003e\u003cspan\u003eWhat is Resource Management?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/wholesale-clothing\\\"\u003e\u003cspan\u003eWholesale Clothing Supplier: How to Find the Perfect One?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-suppliers\\\"\u003e\u003cspan\u003eSupplier Directory: How to Source Products Without Risk\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Discover what a supplier is and how supplier management can help both a supplier and your business | Supplier Relationship Management | Supplier Management Process\",{\"_258\":286,\"_84\":1416,\"_190\":1414},\"What Is a Supplier and What Is Their Role in a Business? Read More\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1420,\"_258\":259,\"_260\":1421,\"_59\":1422,\"_84\":1423,\"_264\":1424,\"_75\":1425,\"_275\":1428,\"_279\":1429,\"_281\":1430,\"_283\":1430,\"_284\":1431,\"_288\":1433,\"_293\":1434},\"eyJsYXN0X2lkIjo1NTk4ODg4OTE5MjYsImxhc3RfdmFsdWUiOjU1OTg4ODg5MTkyNn0=\",\"gid://shopify/Article/559888891926\",\"order-history\",\"Order History\",\"2024-05-02T13:04:11Z\",{\"_258\":267,\"_6\":1426,\"_269\":1427,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898640-what-is-order-history.png?v=1714655051\",\"What is Order History?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is order history?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOrder history is a convenient way for a buyer to keep track of the status of all current and past orders in the order process. For merchants, it's a comprehensive record that includes details such as the purchased products, the purchase date and time, the spent amount, the payment method, and the order status.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis data provides a valuable snapshot of a \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/customer-profile\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ecustomer profile\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e; their buying behavior, preferences, and engagement with your business. It's through this record that we can trace the journey of an order, from the moment it's placed to its final delivery, a journey marked by changes in \u003c/span\u003e\u003cb\u003eorder status\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is an order status?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOrder status is a label that indicates the current position or stage of an order within the operational workflow of an \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/ecommerce\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eecommerce\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e business. It provides real-time information about the progress of an order from the moment it's placed until it's delivered to the customer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTypical order statuses include:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eActive:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The order has been placed, buit is not yet marked as complete. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePending: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe order is awaiting processing.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eProcessed: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe order has been processed and is ready for shipment.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eShipped:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The order has been shipped and is on its way to the customer.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCancelled: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe order has been cancelled, typically by the customer or due to a stock issue.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eReturned: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe customer has returned the order, and it's back with the merchant.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eWhy is order history important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eFor several reasons, order history serves as a valuable resource for ecommerce merchants:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCustomer behavior insights:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Order history can reveal patterns in a customer's purchasing behavior, such as their preferred products, spending habits, and purchase frequency. These insights can inform marketing strategies and product recommendations.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eInventory management:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e By analyzing order history, merchants can predict product demand and manage \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/inventory\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003einventory\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e more effectively. This can help prevent stockouts and overstock situations.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/customer-service\\\"\u003e\u003cb\u003eCustomer service\u003c/b\u003e\u003c/a\u003e\u003cb\u003e:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Order history provides context for customer inquiries or complaints, allowing customer service representatives to provide more accurate and personalized assistance.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003ca href=\\\"https://www.oberlo.com/blog/sales-forecast\\\"\u003e\u003cb\u003eSales forecasting\u003c/b\u003e\u003c/a\u003e\u003cb\u003e:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Historical order data can be used to predict future sales trends, helping businesses plan for growth and manage resources.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePersonalized marketing:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Order history can inform personalized marketing efforts, such as email campaigns, by highlighting products a customer may be interested in based on their past purchases.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn essence, order history is not just a record of past transactions, but a tool that can drive strategic decision-making and improve overall business performance.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eUsing order history to improve sales\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOrder history is a treasure trove of insights that can be leveraged to drive sales. By analyzing patterns in your customers' purchasing behavior, you can tailor your sales strategies to meet their needs and preferences more effectively. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHere are some ways order history can be used to boost sales: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePersonalized recommendations:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Use a customer's order history to recommend products they might be interested in. If a customer frequently buys a certain type of product, suggesting similar items can encourage additional purchases.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eTargeted promotions:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Order history can help identify customers who haven't made a purchase in a while. Target these customers with special offers or discounts to re-engage them.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eSeasonal sales forecasting:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Analyze order history to identify seasonal trends in your sales. Use this information to stock up on popular items during peak seasons and run timely promotions.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eUpselling and cross-Selling:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Use order history to identify opportunities for upselling and cross-selling. If a customer often buys a particular item, you might suggest a higher-end version of the product (upselling) or a related product that complements their purchase (cross-selling).\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eImproving customer retention:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Regular analysis of order history can help identify customers who are at risk of churning. You can then implement strategies to improve their experience and retain them.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch2\u003e\u003cb\u003eUsing order history to improve customer satisfaction\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOrder history can also play a significant role in enhancing customer satisfaction. By understanding your customers' purchasing habits and preferences, you can provide a more personalized and satisfying shopping experience. Here's how:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePersonalized shopping experience:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Use order history to personalize the shopping experience for each customer. By recommending products based on their past purchases, you can make shopping more convenient and enjoyable for your customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eImproved customer service:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Order history can provide valuable context when dealing with customer inquiries or complaints. By understanding a customer's past interactions and purchases, customer service representatives can provide more accurate and personalized assistance.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eTailored marketing communications:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Use order history to tailor your marketing communications to each customer's interests and preferences. This can make your communications more relevant and engaging, leading to higher customer satisfaction.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePredicting and meeting customer needs:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Analyzing order history can help you predict future customer needs and preferences. This can guide product development and inventory management, ensuring you can meet your customers' needs effectively.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eBuilding customer loyalty:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e By using order history to provide a personalized and satisfying shopping experience, you can build stronger relationships with your customers, leading to increased loyalty and repeat purchases.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBy harnessing the insights from order history, you can make informed decisions that not only boost sales but also improve customer satisfaction. Effectively utilizing this data allows you to create a more personalized and engaging shopping experience, fostering stronger relationships with your customers. This dual focus on driving sales and enhancing customer satisfaction is key to building a resilient and successful ecommerce business.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/google-analytics-ecommerce-business\\\"\u003eHow to Use Google Analytics for Your Ecommerce Business\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/email-subscribers\\\"\u003e10 Ways to Turn Site Visitors Into Email Subscribers for Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/abandoned-carts\\\"\u003eHow to Recover Abandoned Carts Easily\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/marketing-channels-guide\\\"\u003eThe Complete Guide To Marketing Channels\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is order history? | What is order status? | Why is order history important? | Read this article to learn more about Order History and what is it.\",{\"_258\":286,\"_84\":1432,\"_190\":1430},\"What is an Order History? How to Keep Track of Purchases? | Oberlo Wiki\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1436,\"_258\":259,\"_260\":1437,\"_59\":1438,\"_84\":1439,\"_264\":1440,\"_75\":1441,\"_275\":1444,\"_279\":1445,\"_281\":1446,\"_283\":1446,\"_284\":1447,\"_288\":1449,\"_293\":1450},\"eyJsYXN0X2lkIjo1NTk4ODg5MjQ2OTQsImxhc3RfdmFsdWUiOjU1OTg4ODkyNDY5NH0=\",\"gid://shopify/Article/559888924694\",\"wholesale\",\"Wholesale\",\"2024-05-02T13:04:13Z\",{\"_258\":267,\"_6\":1442,\"_269\":1443,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489840-what-is-wholesale.png?v=1714655053\",\"What is Wholesale?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is wholesale?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWholesale is the process of selling goods in large quantities to be retailed by others. Unlike \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/start-an-online-retail-business\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eretail\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, where products are sold directly to the consumer, wholesale involves selling merchandise to a business, which then sells the goods to the end consumer at a marked-up price.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis enables the efficient distribution of goods from manufacturers to retailers. By buying in large quantities directly from manufacturers, wholesalers can take advantage of economies of scale, which allows them to sell these goods to retailers at lower prices.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is a wholesaler?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA wholesaler is a company or individual that purchases products in bulk from multiple \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/supplier\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003esuppliers\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e and sells these products to other businesses for resale, acting as an intermediary between manufacturers and retailers.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDifferent types of wholesalers exist, each catering to the specific needs and requirements of various manufacturers and retailers: \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eTypes of wholesalers\u003c/b\u003e\u003c/h3\u003e\\n\u003ch4\u003e\u003cb\u003eMerchant wholesalers\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis is the most common type of wholesaler. Merchant wholesalers do not produce goods themselves; instead, they buy products in bulk from a manufacturer or supplier, and then re-sell these goods in smaller quantities to retailers. They tend to specialize in certain types of products, allowing them to offer expert knowledge and a wide range of items within a specific industry.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eManufacturers\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSome manufacturers act as wholesalers by selling their products directly to retailers or to the end consumers. They produce their own products for resale, which allows them to have a deep understanding of their product line and offer comprehensive product information to their customers.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eDistributors\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/distribution\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDistributors\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e acquire products in especially large volumes but do not manufacture or produce the products themselves. They often specialize in specific industries and provide a range of services to manufacturers and retailers within that industry.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eBrokers and agents\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBrokers and agents primarily set up deals between wholesalers and businesses. They earn a commission for facilitating transactions, acting as a liaison between manufacturers or suppliers and the businesses that want to sell their products. They are often hired by manufacturers or suppliers who lack the resources to maintain their own sales teams.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eDropshipping wholesalers\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn the \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/what-is-dropshipping\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003edropshipping\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e business model, wholesalers are responsible for storing, managing, and shipping products on behalf of retailers after an order has been placed in their online store. This process is advantageous for retailers because it eliminates the need to maintain large \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/inventory\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003einventories\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e or handle shipping logistics themselves, allowing them to offer a wide range of products without significant overhead costs.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow does the wholesale process work?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWholesalers, if they don't manufacture products themselves, purchase goods from manufacturers in bulk at a discounted rate. This bulk purchasing allows them to sell to retailers at a markup, but still at a price that provides a bulk discount to the retailer. The retailer then also applies a markup to the goods when selling to the end consumer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis process allows manufacturers to sell large quantities of goods quickly, enables wholesalers to make a profit by selling these goods to retailers, and allows retailers to offer a wide range of products to consumers without having to deal with multiple manufacturers.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen setting their own prices, retailers must take into account the wholesale price to ensure they make a profit when selling to the end consumer.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eWholesale vs retail price\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe \u003c/span\u003e\u003cb\u003ewholesale price\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is the cost charged by the wholesaler to the retailer. This price is typically lower than the retail price because wholesalers buy goods in large quantities directly from manufacturers, allowing them to take advantage of economies of scale.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe \u003c/span\u003e\u003cb\u003eretail price\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is the cost charged by the retailer to the end consumer. This price is higher than the wholesale price because it includes the retailer's costs such as rent, staff salaries, and utilities, as well as a profit margin.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eHow do retailers price wholesale products?\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eRetailers use various \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/simplified-pricing-strategies\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003epricing strategies\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e to determine the price of a product. These strategies are part of a broader financial plan, designed to cover costs and generate a profit while remaining attractive to customers.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOne of the most common and straightforward strategies used is \u003c/span\u003e\u003cb\u003ekeystone pricing\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e. In keystone pricing, retail prices are set at double the cost of the wholesale price, effectively a 100(percent) markup. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eFor example, if the wholesale price of a product is (dollars)10, then the retail price would be (dollars)20. This method ensures prices are kept reasonable in most cases and ensures a healthy profit for the retailer. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHowever, keystone pricing may not be optimal for all businesses. Retail prices are ultimately determined by a wide range of factors, such as the wholesale cost, marketing expenses, product type, shipping costs, industry standards, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/supply\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003esupply chain\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e issues, and more.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat are the pros and cons of selling wholesale?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSelling wholesale can be a lucrative business model, but like any business, it comes with its own set of advantages and challenges. Understanding these can help businesses make informed decisions and develop strategies that maximize benefits while mitigating potential drawbacks.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003ePros of selling wholesale\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eHigh brand visibility:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Selling wholesale can significantly increase a brand's visibility as products are distributed to various retailers and reach a wider audience.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eScaling:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Wholesale allows businesses to sell their products in large quantities, making it easier to scale operations and increase revenue.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eStable client relationships:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Wholesalers often establish long-term relationships with retailers, providing a stable and predictable source of revenue.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eBulk sales:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Selling in bulk can lead to higher total sales and can be more efficient than selling individual items to consumers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eMarket expansion:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Wholesalers can help manufacturers reach new markets that would be difficult to access otherwise.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch3\u003e\u003cb\u003eCons of selling wholesale\u003c/b\u003e\u003c/h3\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eThin profit margins:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Wholesalers often operate on thin profit margins, especially when compared to retail.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eIncreased competition:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The wholesale market can be highly competitive, with many businesses offering similar products.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eInventory management:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Managing large quantities of inventory can be challenging and requires significant storage space.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eDependence on retailers:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Wholesalers are dependent on retailers for their sales, and any issues at the retail level can directly impact wholesalers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb style=\\\"letter-spacing: 0px;\\\"\u003ePayment terms: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWholesalers often have to offer flexible payment terms to retailers, which can lead to cash flow issues.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/what-should-you-sell-online\\\"\u003eWhat Should You Sell Online?\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-sell-fall\\\"\u003eBest Dropshipping Products to Sell in Fall\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/trending-products\\\"\u003e20+ Trending Products to Sell\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/best-dropshipping-products-to-sell-in-summer-2017\\\"\u003eBest Dropshipping Products to Sell in Summer\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Wholesale refers to a type of business that buys large quantities of goods directly from manufacturers or distributors and resells them to other businesses.\",{\"_258\":286,\"_84\":1448,\"_190\":1446},\"What is Wholesale? - Learn All About Wholesale\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1452,\"_258\":259,\"_260\":1453,\"_59\":1454,\"_84\":1455,\"_264\":1456,\"_75\":1457,\"_275\":1460,\"_279\":1461,\"_281\":1462,\"_283\":1462,\"_284\":1463,\"_288\":1465,\"_293\":1466},\"eyJsYXN0X2lkIjo1NTk4ODg5NTc0NjIsImxhc3RfdmFsdWUiOjU1OTg4ODk1NzQ2Mn0=\",\"gid://shopify/Article/559888957462\",\"advertising\",\"Advertising\",\"2024-05-02T13:04:14Z\",{\"_258\":267,\"_6\":1458,\"_269\":1459,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898655-what-is-advertising.png?v=1714655055\",\"What Is Advertising?\",[277,278],\"\u003ch2\u003e\u003cspan\u003eWhat Is Advertising?\u003c/span\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan\u003eAdvertising is a promotional activity which aims to sell a product or service to a target audience. It is one of the oldest forms of marketing which attempts to influence the actions of its target audience to either buy, sell, or do something specific. Using a highly tailored message the advertisement can be niche (targets a small audience) or general (targets a large audience).\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eAdvertising is a lot older than most other marketing activities like \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/email-marketing\\\"\u003e\u003cspan\u003eemail marketing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e and \u003c/span\u003e\u003ca href=\\\"/ecommerce-wiki/search-engine-marketing-sem\\\"\u003e\u003cspan\u003eSearch Engine Marketing\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e. Since the internet has become the norm, advertising has been divided into two fields: traditional advertising and digital advertising. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eTraditional advertising relates to \u003c/span\u003e\u003ca href=\\\"https://smallbusiness.chron.com/examples-traditional-advertising-24312.html\\\"\u003e\u003cspan\u003eprint, TV, and radio\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e advertisement that has been popular for over 150 years. Print advertising is the most effective advertising for businesses as it revolves around a target audience personally receiving the advertisement through flyers, newspapers, and the mail.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan\u003eDigital advertising revolves around \u003c/span\u003e\u003ca href=\\\"https://www.perion.com/blog/8-types-online-advertising-need-know/\\\"\u003e\u003cspan\u003eany advertising activities online\u003c/span\u003e\u003c/a\u003e\u003cspan\u003e like display advertising, PPC, Social Media advertising, etc. This form of advertising is cheaper and easier to track so it has become a more widely used form of marketing. \u003c/span\u003e\u003c/p\u003e\u003ch2\u003e\u003cb\u003eWhat is advertising?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAdvertising is a promotional activity that aims to sell a product or service to a target audience. It involves the use of various mediums, such as television, radio, print media, outdoor displays, and digital platforms, to communicate persuasive messages about the offerings of a business.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAt its core, advertising is designed to persuade. It seeks to influence potential customers' perceptions, attitudes, and behaviors, encouraging them to take a specific action—usually purchasing a product or service. This is achieved through a combination of creative storytelling, compelling visuals, catchy slogans, and strategic placement.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhy is advertising important?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAdvertising enables businesses to reach consumers, communicate their value proposition to potential customers, stimulate interest in what they're offering, and ultimately drive purchases. It's a key factor in a company's ability to attract new customers, retain existing ones, and establish a strong presence in the market. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAdvertising helps businesses: \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eCreate awareness\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAdvertising plays a crucial role in making a business's products or services known to the wider public. By placing ads in places where potential customers are likely to see them, such as on social media, television, or billboards, businesses can effectively communicate their range of products, unique services, or exciting promotions. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis visibility is more than just about sales; it's about establishing a presence in the market, attracting new customers, and staying top-of-mind for existing ones.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eDrive sales\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAdvertising is a key driver of sales for businesses. Ads can highlight special promotions, demonstrate the use of a product, or explain how a service can solve a customer's problem, all of which can motivate customers to buy.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMoreover, advertising can help to stimulate demand for a new product or service, or reignite interest in an existing one. This can lead to increased sales, both in the short term and over the long run.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eBuild a brand \u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThrough advertising, a business can convey its values, mission, and personality to the public. Consistent messaging and visuals across advertising campaigns can help establish a strong and recognizable brand identity.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA well-crafted advertisement can evoke emotions, tell a story, or create a connection between the consumer and the brand. This emotional engagement can foster trust and loyalty among consumers, making them more likely to choose the brand over competitors.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eDifferentiate from competitors\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn a crowded market, advertising can be a powerful tool for helping businesses stand out from their competition. By crafting distinctive and memorable advertisements, businesses can position themselves as the preferred choice in the minds of consumers. This differentiation is crucial in attracting and retaining customers, especially in highly competitive industries.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eMoreover, advertising allows businesses to control their narrative and how they are perceived in comparison to their competitors. This ability to shape consumer perception can be a significant advantage in a competitive marketplace.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eGather valuable data\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDigital advertising platforms allow businesses to collect mountains of data on consumer behavior, preferences, demographics, and more. With all that data, businesses are able to expertly guide their marketing strategies, shape their advertising campaigns, and make informed decisions about product offerings.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe sheer volume of data collected through digital advertising not only provides a detailed picture of current consumer trends but also helps predict future ones. This predictive power can give businesses a competitive edge, enabling them to anticipate market changes and adapt their strategies accordingly.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eMeasure impact\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOne of the key advantages of digital advertising is the ability to measure the impact of advertising campaigns. Businesses can track a variety of metrics such as click-through rates, conversion rates, and return on ad spend. These metrics provide tangible evidence of how well an ad is performing and whether it's effectively reaching its target audience.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBeing able to measure the impact of advertising campaigns allows businesses to understand what's working and what's not. This insight can inform future advertising efforts, helping businesses to continuously optimize their strategies and ensure the best possible return on their advertising investment.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTypes of Advertising\u003c/b\u003e\u003c/h2\u003e\\n\u003ch3\u003e\u003cb\u003eTraditional Advertising\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTraditional advertising refers to the types of advertising that have been around for years. These are the methods that were used before the rise of the internet, and they still hold value today.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTypes of traditional advertising include: \u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePrint: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis includes advertisements in newspapers, magazines, brochures, and other printed materials. Print ads are useful for reaching a local audience and can be particularly effective for small businesses.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eBillboards:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e These large outdoor advertising structures are typically found in high-traffic areas, making them ideal for getting a message across to a large number of people.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eTelevision:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e TV ads have a wide reach and can be targeted to specific audiences by airing during relevant programs. They also allow for creative storytelling through visuals, sound, and motion.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eRadio:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Radio advertisements can reach a wide audience, especially during peak listening times like the morning and evening commutes. They are audio-based and require strong, compelling messaging to be effective.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch3\u003e\u003cb\u003eDigital advertising\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDigital advertising offers more precise targeting and measurement capabilities compared to traditional advertising. Businesses can reach a global audience, target specific demographics, and get immediate feedback on campaign performance. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn many cases, ads can even be adjusted in real-time based on their effectiveness, providing businesses with the flexibility to adapt their strategies as needed: \u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eEmail marketing\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.oberlo.com/blog/what-is-email-marketing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eEmail marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e involves sending promotional messages directly to a group of people who have opted in to receive them. It's a direct and personal way to engage with customers, promote products, and maintain relationships. With the ability to segment email lists, businesses can send tailored messages to specific groups, increasing relevance and response rates.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eSocial media advertising\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.oberlo.com/blog/social-media-marketing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSocial media marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e platforms like Facebook, Instagram, and Twitter offer advertising options that can reach a large audience. These platforms collect a wealth of user data, allowing businesses to target their ads based on specific demographics, interests, and behaviors. Social media ads can be used to increase brand awareness, drive traffic to a website, or promote specific products or services.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eSearch engine marketing\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/search-engine-marketing-sem\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSearch engine marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e involves paid advertisements that appear on search engine results pages. There are several types of search engine ads, including pay-per-click (PPC), display ads, and product listing ads (PLAs). These ads offer businesses the opportunity to appear prominently in search results for relevant keywords, increasing visibility and driving targeted traffic to their website.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eSearch engine optimization (SEO)\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSearch engine optimization (SEO) is a key component of \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/content-marketing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003econtent marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e. It involves optimizing your online content so that a search engine likes to show it as a top result for searches of a certain keyword. This means strategically incorporating relevant keywords and phrases into your content, optimizing your website's structure and speed, and earning high-quality backlinks. When done effectively, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/seo-marketing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSEO marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e can significantly improve your website's visibility in organic (non-paid) search engine results, driving more traffic to your site. \u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eInfluencer marketing\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003ca href=\\\"https://www.oberlo.com/blog/influencer-marketing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eInfluencer marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e involves partnering with influential people in a particular industry or niche to reach their followers. Influencers have built trust and authority with their audience, and their endorsement can lend credibility to a business. This type of advertising can be particularly effective on platforms where influencers have a strong presence, such as Instagram or YouTube.\u003c/span\u003e\u003c/p\u003e\\n\u003ch4\u003e\u003cb\u003eOn-site pop-ups\u003c/b\u003e\u003c/h4\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eOn-site pop-ups are small windows that appear on a website, usually promoting a single offer. They can be effective in capturing immediate attention and driving conversions. Pop-ups can be used to promote special offers, encourage newsletter sign-ups, or reduce cart abandonment in e-commerce.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTips on creating effective ads\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCreating impactful ads doesn't have to be complicated. Here are some practical tips that can guide you in crafting ads that resonate with your audience and drive results:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eUnderstand your target audience: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eKnow who your customers are, what they want, and how your product or service can meet their needs. Use this understanding to create ads that speak directly to them.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCraft a compelling message: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eYour ad should clearly communicate what you're offering and why it's valuable. Make your message concise, clear, and compelling.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eUse strong visuals:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e An eye-catching visual can make your ad stand out and draw attention. Use high-quality images, engaging colors, and a clean, uncluttered design.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eInclude a clear call to action (CTA):\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Tell your audience what you want them to do next. Whether it's to visit your website, make a purchase, or sign up for a newsletter, make your CTA clear and compelling.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb style=\\\"letter-spacing: 0px;\\\"\u003eTest and optimize:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Monitor your ad's performance and be ready to make adjustments as needed. Test different versions of your ad to see what works best and continually optimize based on your results.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003e\u003cspan\u003eWant to Learn More?\u003c/span\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/beginners-guide-7-types-internet-marketing\\\"\u003e\u003cspan\u003eThe Beginner’s Guide to 7 Types of Internet Marketing\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/facebook-advertising\\\"\u003e\u003cspan\u003eThe Definitive Guide to Facebook Advertising\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/youtube-ads-beginners-launch-first-campaign\\\"\u003e\u003cspan\u003eYouTube Ads for Beginners: How to Advertise on YouTube\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/the-beginners-guide-to-linkedin-ads\\\"\u003e\u003cspan\u003eThe Beginner’s Guide to LinkedIn Ads: How to Setup Your First Campaign\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Advertising is a promotional activity which aims to sell a product or service to a target audience. If you are interested in learning more about this read our article.\",{\"_258\":286,\"_84\":1464,\"_190\":1462},\"What is Advertising? Learn All About Product Advertising with Oberlo\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1468,\"_258\":259,\"_260\":1469,\"_59\":1470,\"_84\":1471,\"_264\":1472,\"_75\":1473,\"_275\":1476,\"_279\":1477,\"_281\":1478,\"_283\":1478,\"_284\":1479,\"_288\":1481,\"_293\":1482},\"eyJsYXN0X2lkIjo1NTk4ODg5OTAyMzAsImxhc3RfdmFsdWUiOjU1OTg4ODk5MDIzMH0=\",\"gid://shopify/Article/559888990230\",\"distribution\",\"Distribution\",\"2024-05-02T13:04:16Z\",{\"_258\":267,\"_6\":1474,\"_269\":1475,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489840-what-is-distribution.png?v=1714655056\",\"What Is Distribution?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is distribution?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cb\u003eDistribution\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is the activity of both selling and delivering products and services from manufacturer to customer. The process begins with the procurement of raw materials and includes several stages such as transportation, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/warehousing\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ewarehousing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, and \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/inventory\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003einventory management\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, culminating in the final delivery of the product to the end consumer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA \u003c/span\u003e\u003cb\u003edistributor\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is an intermediary that bridges the gap between the manufacturer and the customer in the distribution process. They take the products from the manufacturers, store them in warehouses, and then manage their transportation to the various points of sale or directly to the consumers.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eTypes of distribution strategies\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThere are three main types of distribution strategies: intensive distribution, selective distribution, and exclusive distribution.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eIntensive distribution\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIntensive distribution, also known as mass distribution, is a strategy in which a company tries to distribute its products or services as widely as possible in the market. This strategy is commonly used for convenience products such as soft drinks or personal care items.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe goal of intensive distribution is to make the product available in as many outlets as possible, capitalizing on high demand and frequent purchases.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eSelective distribution\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSelective distribution involves a company using a limited number of outlets in a specific geographical area to sell its products. This strategy is typically used for specialty products or services that are not as widely demanded by the market.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBy limiting the number of outlets, selective distribution aims to provide better sales support and service, ensuring a higher quality customer experience.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eExclusive distribution\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eExclusive distribution is a strategy in which a manufacturer grants a single retail outlet or distributor the exclusive rights to sell a product in a specific geographical area. This is often used for high-end products or services that require a certain level of sales support or service.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe aim of exclusive distribution is to maintain the product's prestigious image and control its market positioning, providing a unique and exclusive buying experience for customers.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is a distribution channel?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA distribution channel is the path taken by a product or service from the producer to the final consumer. It includes all the intermediaries involved in the process of getting the product from the manufacturer to the market. Intermediaries in a distribution channel can include \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/wholesale\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ewholesalers\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, distributors, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/ecommerce-wiki/supplier\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003esuppliers\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/dropshipping-suppliers\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003edropshipping platforms\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, print-on-demand companies, and other retailers. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen a manufacturer sells directly to the consumer, bypassing these intermediaries, it's known as a \u003c/span\u003e\u003cb\u003edirect\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e distribution channel. Conversely, when one or more intermediaries are involved in the process, it's referred to as \u003c/span\u003e\u003cb\u003eindirect \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003edistribution.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eDirect distribution\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDirect distribution gives manufacturers complete control over their product. They can set their own prices, control the customer experience, and build direct relationships with their customers. This can be beneficial for building brand loyalty and for businesses with unique products that require a specific sales approach.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eFor example, a small artisanal cheese maker might choose a direct distribution strategy, selling their products online and at local farmers markets. This allows them to control the way their products are presented and sold, and to receive direct feedback from their customers.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHowever, direct distribution can also be resource-intensive. Manufacturers are responsible for every step of the distribution process, from storage and inventory management to shipping and customer service. This requires a significant investment in infrastructure and logistics.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eIndirect distribution\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAn indirect distribution channel involves one or more intermediaries, such as wholesalers, retailers, or distributors. These intermediaries purchase products from the manufacturer and then sell them to the end consumer.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSince these intermediaries curate a diverse array of products from a wide range of manufacturers, indirect distribution typically allows retailers to expand their inventory and provide more options to customers. It can also reduce the manufacturer's workload, as the intermediaries typically handle storage, transportation, and selling. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHowever, this approach does come with a trade-off: while indirect distribution can reduce the workload for retailers, it also typically means they must apply a higher markup to cover the cost of the intermediaries⁠—potentially affecting the competitiveness of their pricing.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is distribution management?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDistribution management is the coordination and supervision of the transfer of goods from a manufacturer or supplier to the point of sale. It's a comprehensive process that includes a wide range of activities, such as inventory management, order fulfillment, demand forecasting, and logistics coordination, all aimed at ensuring that products are available to customers in the right place at the right time.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSeveral factors can influence the effectiveness of distribution management:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePackaging:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The size, weight, and packaging of the product can impact transportation costs and storage requirements.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eInventory management:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Effective inventory management is crucial to ensure the right products are available at the right time.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eOrder processing: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eEfficient order processing can improve customer satisfaction and reduce costs.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eLogistics:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The logistics of moving the product from the manufacturer to the consumer need to be managed effectively.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eNature of the product:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Different products, like perishable versus non-perishable goods, require different distribution strategies.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eType of market:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Targeting a global market versus a local market presents different distribution challenges and needs.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eOverall business strategy:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The distribution strategy should align with the broader business goals and objectives.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCustomer preferences\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e: The buying habits and preferences of the target customers can influence distribution strategies.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eRegulatory environment:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Laws and regulations related to the transportation and sale of goods can impact distribution practices.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eTechnological capabilities:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e The use of technology can enhance inventory tracking, logistics management, and demand forecasting.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb style=\\\"letter-spacing: 0px;\\\"\u003eGeographical considerations:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Factors such as distance, infrastructure, and local conditions can influence the choice of distribution channels and the speed of delivery.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003e\u003cstrong\u003eWant to Learn More?\u003c/strong\u003e\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/dropshipping-suppliers\\\"\u003e\u003cspan\u003eHow to Select Dropshipping Suppliers\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/reseller-business\\\"\u003e\u003cspan\u003eWhy You Should Start a Reseller Business Right Now\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/aliexpress-dropshipping-guide\\\"\u003e\u003cspan\u003eDropshipping vs. Wholesale: Doba, SaleHoo, and Worldwide Brands\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/pricing-strategy-for-ecommerce\\\"\u003e\u003cspan\u003ePricing Strategy for Ecommerce – Is Your Price Right?\u003c/span\u003e\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"Distribution is the activity of both selling and delivering products and services from the manufacturer to customer. Find out all you need to know about distribution in our article\",{\"_258\":286,\"_84\":1480,\"_190\":1478},\"What is Product Distribution? What Does Distribution in Marketing Mean?\",{\"_258\":290,\"_291\":342},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1484,\"_258\":259,\"_260\":1485,\"_59\":1486,\"_84\":1487,\"_264\":1488,\"_75\":1489,\"_275\":1492,\"_279\":1493,\"_281\":1494,\"_283\":1494,\"_284\":1495,\"_288\":1497,\"_293\":1498},\"eyJsYXN0X2lkIjo1NTk4ODkwMjI5OTgsImxhc3RfdmFsdWUiOjU1OTg4OTAyMjk5OH0=\",\"gid://shopify/Article/559889022998\",\"domain-name\",\"Domain Name\",\"2024-05-02T13:04:18Z\",{\"_258\":267,\"_6\":1490,\"_269\":1491,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1603898645-what-is-a-domain-name.png?v=1714655058\",\"What is a Domain Name?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a domain name?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA domain name is a unique string of text that stands in for the numerical IP addresses used by web browsers to retrieve and display the content of websites from the servers where they are stored on the internet.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn simple terms, a domain name is the address people type into a browser address bar to find a website. This system allows computers to find the server where a website is hosted, while providing a human-friendly, easy-to-remember address for internet users.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat are the parts of a domain name?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDomain names are composed of at least two (sometimes three) parts: a \u003c/span\u003e\u003cb\u003etop-level domain\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, a \u003c/span\u003e\u003cb\u003esecond-level domain\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, and an optional \u003c/span\u003e\u003cb\u003ethird-level domain\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e (also called a “subdomain”). \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eEach part of the domain name tells the browser something different about the website's location.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eTop-level domain (TLD)\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAlso called “domain extensions”, TLDs are the last part of a domain name and provide a broad categorization of the associated website's purpose or geographical location. The most common TLD is the generic \u003c/span\u003e\u003ci\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e.com\u003c/span\u003e\u003c/i\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, but other common ones include \u003c/span\u003e\u003ci\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e.org\u003c/span\u003e\u003c/i\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e for non-profit organizations and \u003c/span\u003e\u003ci\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e.gov\u003c/span\u003e\u003c/i\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e for government entities. \u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eSecond-Level Domain (2LD)\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe second-level domain (2LD) appears right before the TLD. For example, in the domain Oberlo.com, the 2LD is 'Oberlo'. This part of the domain name is unique to each website, serving as a key identifier in the set of instructions that guide browsers to the correct location on the internet.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eSubdomain (Third-Level Domain)\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eSubdomains, also known as third-level domains, are an optional part of the domain name that appears before the 2LD and the TLD. They are commonly used to organize different sections of a website, such as a blog or shop (e.g., 'blog.example.com' or 'shop.example.com'). This allows the company to keep different parts of the website separate while still under the umbrella of the same domain name.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eWhat is the difference between domains and URLs?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA domain name is a part of a web address, also known as a URL (Uniform Resource Locator). Domains act as a set of instructions that leads browsers to a specific website on the internet, and the rest of the URL points to a specific web-page or file hosted on the website.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA full URL also includes the protocol (https://) which instructs the browser on the method to retrieve the website's data and the path which directs to a specific page or file on the website. \u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow do domains work?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen you type a domain name into your web browser, the browser uses the Domain Name System (DNS) to find the corresponding IP address for the website's server, and then retrieves the website's data from that server to display the website on your screen.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eWhat is DNS?\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe Domain Name System (DNS) is a universal, decentralized system that maintains a directory of domain names and their corresponding IP addresses. The DNS is crucial to ensuring browsers can reliably use domain names to find websites.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eWhat is a domain registrar?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eA \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/best-domain-registrars\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003edomain registrar\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e is any company that facilitates the registration and management of domain names on the internet. This can include dedicated domain registration companies, \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/best-web-hosting-for-small-business\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eweb hosting services\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e, or \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/best-website-builder-small-business\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ewebsite building platforms\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThere are numerous providers of domain registration services. For instance, Shopify, a platform for building e-commerce websites, offers domain registration as part of their services. Other common providers include dedicated registration companies like GoDaddy, Bluehost, and Namecheap, as well as website building platforms such as Wix and Squarespace.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eHow to choose a domain name\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eChoosing a domain name is an important step in establishing your online presence. The right domain name can contribute to your website's visibility, branding, and credibility. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eHere are some tips to consider when selecting a domain name:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eKeep it short and simple:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Shorter domain names are easier to remember and less prone to typos. Aim for a domain name that is concise, easy to spell, and easy to pronounce.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eAvoid numbers and hyphens:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Numbers and hyphens can be confusing when spoken aloud and are often misunderstood. If possible, stick to letters only.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eUse relevant terms:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Including terms related to your business or industry can make your domain name more intuitive and appealing to potential visitors. A domain name that clearly indicates what you offer can also be easier for people to remember.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eEnsure it's available:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Use a \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/domain-name-search\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003edomain name search tool\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e to check the availability of your chosen domain name. If it's already taken, you might need to get creative or consider other options.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eChoose the right TLD:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e While .com is the most common TLD, there are many other options available. Consider the nature of your website and your target audience when choosing a TLD.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb style=\\\"letter-spacing: 0px;\\\"\u003eCheck for trademark issues:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Before finalizing your domain name, make sure it's not trademarked or being used by another company. This can help avoid potential legal issues down the line.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/domain-name-search\\\"\u003eDomain Name Search: How to Choose and Buy a Domain Name\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/free-business-name-generators\\\"\u003e22 Free Business Name Generators to Find the Best Brand Names\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-i-launched-my-ecommerce-store-in-less-than-30-minutes\\\"\u003eHow To Launch Your Ecommerce Store in Less Than 30 Minutes Flat\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/inspirational-online-stores\\\"\u003e10 Online Stores to Use as Inspiration for Your First Store\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is a domain name? | What is the difference between a domain and a subdomain? | Domain name types | Read this article to learn more about domains.\",{\"_258\":286,\"_84\":1496,\"_190\":1494},\"What is Domain Name? | Domain Name Types | Learn More\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],{\"_256\":1500,\"_258\":259,\"_260\":1501,\"_59\":1502,\"_84\":1503,\"_264\":1504,\"_75\":1505,\"_275\":1508,\"_279\":1509,\"_281\":1510,\"_283\":1510,\"_284\":1511,\"_288\":1513,\"_293\":1514},\"eyJsYXN0X2lkIjo1NTk4ODkwNTU3NjYsImxhc3RfdmFsdWUiOjU1OTg4OTA1NTc2Nn0=\",\"gid://shopify/Article/559889055766\",\"conversion-funnel\",\"Conversion Funnel\",\"2024-05-02T13:04:19Z\",{\"_258\":267,\"_6\":1506,\"_269\":1507,\"_271\":272,\"_273\":274},\"https://cdn.shopify.com/s/files/1/0840/8370/3830/articles/1604489852-what-is-a-conversion-funnel.png?v=1714655060\",\"What is a Conversion Funnel?\",[277,278],\"\u003ch2\u003e\u003cb\u003eWhat is a conversion funnel?\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn ecommerce, a conversion funnel (sometimes called a \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/how-to-create-a-sales-funnel\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003esales funnel\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e) is a metaphorical model that illustrates the path a customer takes from their first interaction with a brand, through the purchase of a product or service, and potentially beyond to stages like retention and advocacy.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis path is not always linear and can involve various touchpoints across different \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/sales-channel\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003esales channels\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e and platforms. For example, a customer might first encounter a brand through a social media ad, later read a blog post linked from an email, and finally make a purchase after clicking on a retargeting ad. Each of these touchpoints contributes to moving the customer further down the funnel.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhen marketers talk about the conversion funnel, they may refer to three distinct levels:\u003c/span\u003e\u003c/p\u003e\\n\u003cul\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eTop-of-funnel (TOFU):\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e At this level, customers are in the exploration phase. They are discovering new brands, identifying their needs, and becoming aware of potential solutions.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eMiddle-of-funnel (MOFU):\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Here, customers have identified their needs and are actively evaluating different options. They're comparing products, reading reviews, and considering their choices. \u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eBottom-of-funnel (BOFU):\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e At this final level, customers are ready to make a purchase. They've done their research, they've evaluated their options, and they're prepared to buy.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ul\u003e\\n\u003ch2\u003e\u003cb\u003eStages of the conversion funnel\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe conversion funnel is further divided into stages, each representing a specific point in the \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/customer-journey-map\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ecustomer’s purchase journey\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e. These stages help businesses better understand and address the specific needs of each segment separately. \u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eWhile there are many different versions of the conversion funnel, they typically address four key stages: awareness, interest, desire, and action.\u003c/span\u003e\u003c/p\u003e\\n\u003cp class=\\\"my-12 md:-mx-24\\\"\u003e\u003cimg src=\\\"https://cdn.shopify.com/s/files/1/0840/8370/3830/files/1603966848-conversion-funnel.jpg\\\" alt=\\\"How to Optimize your Conversion Funnel\\\" width=\\\"1561\\\" height=\\\"1316\\\"\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eAwareness\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/brand-awareness-tips\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eawareness\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e stage is where potential customers are exploring, discovering new brands, and identifying their needs. They are not necessarily ready to buy, but are gathering information and becoming aware of the options available to them.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe goal for businesses at this stage is to attract these potential customers and make them aware of their brand or product. This is often achieved through \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/brand-strategy\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003ebrand strategies\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e that increase visibility and provide valuable content, such as educational blog posts, engaging social media content, or informative webinars.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eInterest\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eCustomers at the interest stage have identified their needs and are now actively seeking out and evaluating different solutions. They're aware of the brand, are interested in learning more, and businesses are working to show that their offerings are the best solution.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTo engage these potential customers, businesses will provide detailed product information, customer testimonials, and may begin building a customer email list. Incentives such as discounts can be offered to first-time subscribers to encourage sign-ups.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eDesire\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn the desire stage, customers have a clear understanding of their needs and are considering the brand as a potential solution. Trust becomes a key factor, as customers need to feel confident in the brand and its offerings before they are willing to make a purchase.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBusinesses aim to help prospects learn more about their brand and products by showcasing the benefits and unique features of their product or service and building trust through transparent and authentic communication.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eTargeted email content can also be used to keep prospects engaged and encourage them to return to the site. Offering incentives such as exclusive deals or personalized recommendations can help nurture the customer's desire and move them closer to making a purchase.\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eAction\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThe action stage is the final step in the conversion funnel; customers have done their research, evaluated their options, and are ready to take action and make a purchase. To facilitate this, businesses ensure a smooth and easy purchasing process.\u003c/span\u003e\u003c/p\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eThis could involve a user-friendly checkout process on an ecommerce site, a variety of payment options, or immediate access to digital products. After the purchase, providing excellent customer service and follow-up communications can help reinforce the customer's decision and enhance their overall experience.\u003c/span\u003e\u003c/p\u003e\\n\u003ch2\u003e\u003cb\u003eOptimizing your conversion funnel\u003c/b\u003e\u003c/h2\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eUnderstanding the unique needs and behaviors of customers at each stage of the funnel is key to improving your conversion strategy. Here are some detailed strategies for each level:\u003c/span\u003e\u003c/p\u003e\\n\u003ch3\u003e\u003cb\u003eTop-of-funnel (TOFU) strategies\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAt the top of the funnel, the focus is on attracting potential customers and increasing brand awareness. Here are some strategies to consider:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eCreate engaging content: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eDevelop informative and engaging content that provides value to your audience. This could be blog posts, videos, infographics, or podcasts that address common questions or problems your audience might have. The goal is to attract potential customers to your brand and provide them with valuable information that establishes your brand as a trusted resource.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eLeverage SEO:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Use search engine optimization (SEO) techniques to improve your website's visibility in search engine results. This involves using relevant keywords in your content, optimizing your website's structure and speed, and building high-quality backlinks. By improving your SEO, you can attract more organic traffic to your site and reach more potential customers.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eUtilize social media:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Regularly post engaging content on social media platforms and interact with your followers. This not only helps to build a strong online presence but also allows you to engage directly with your audience, answer their questions, and build a community around your brand.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch3\u003e\u003cb\u003eMiddle-of-funnel (MOFU) strategies\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eIn the middle of the funnel, potential customers are evaluating their options. Your strategies should aim to provide more detailed information and build a stronger relationship with your audience:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eOffer free trials or demos:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e If your product or service allows for it, offering free trials or demos can be a great way to let potential customers experience what you have to offer firsthand. This gives them a risk-free opportunity to see how your product or service can benefit them and can significantly increase their likelihood of making a purchase.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eImplement email marketing:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Build an email list and send out regular newsletters or updates. This keeps your brand at the top of your audience's mind and allows you to share more detailed information about your products or services. You can also use \u003c/span\u003e\u003ca href=\\\"https://www.oberlo.com/blog/email-marketing-strategy\\\"\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eemail marketing\u003c/span\u003e\u003c/a\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e to share exclusive offers or discounts, further incentivizing potential customers to make a purchase.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eProvide detailed product information:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e At this stage, customers are looking for more specific information about your offerings. Make sure all product details, pricing, and features are clearly outlined on your website. Providing comprehensive and easy-to-understand information can help potential customers make an informed decision and move closer to making a purchase.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003ch3\u003e\u003cb\u003eBottom-of-funnel (BOFU) strategies\u003c/b\u003e\u003c/h3\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eAt the bottom of the funnel, customers are ready to make a purchase. Your strategies should aim to make this process as smooth as possible and to provide excellent post-purchase service:\u003c/span\u003e\u003c/p\u003e\\n\u003col\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eStreamline the checkout process:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e Make it as easy as possible for customers to complete their purchase. This could involve reducing the number of steps in your checkout process, offering a variety of payment options, or providing clear instructions and assistance. A smooth and easy checkout process can significantly increase your conversion rate.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003ePrioritize customer service: \u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eProviding excellent customer service can make the difference between a one-time purchase and a loyal customer. Be responsive to customer inquiries and complaints, and go the extra mile to ensure their satisfaction. This not only improves the customer's experience but also builds trust in your brand.\u003c/span\u003e\\n\u003c/li\u003e\\n \u003cli style=\\\"font-weight: 400;\\\" aria-level=\\\"1\\\"\u003e\\n\u003cb\u003eFollow up after purchase:\u003c/b\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003e After a customer has made a purchase, send them a follow-up email to thank them for their business, ask for feedback, or offer related products or services. This not only improves customer satisfaction but also encourages repeat business and helps to build a long-term relationship with your customers.\u003c/span\u003e\\n\u003c/li\u003e\\n\u003c/ol\u003e\\n\u003cp\u003e\u003cspan style=\\\"font-weight: 400;\\\"\u003eBy tailoring your strategies to each stage of the conversion funnel, you can guide your customers more effectively towards making a purchase and improve your overall conversion rate.\u003c/span\u003e\u003c/p\u003e\u003ch2\u003eWant to Learn More?\u003c/h2\u003e\\n\u003cul\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/conversion-optimization-for-ecommerce\\\"\u003eHow to Get More Sales With Ecommerce Conversion Optimization\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/blog/how-to-market-a-product\\\"\u003e20 Tricks for Optimizing Your Online Store\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ecommerce-wiki/landing-page\\\"\u003eHow to Optimize eCommerce Landing Page to Skyrocket Sales\u003c/a\u003e\u003c/li\u003e\\n \u003cli\u003e\u003ca href=\\\"/ebooks/facebook-ads-tactics\\\"\u003eFacebook Ads Tactics That’ll Skyrocket Sales!\u003c/a\u003e\u003c/li\u003e\\n\u003c/ul\u003e\",\"What is a Conversion Funnel? | The Levels of a Conversion Funnel | How to Optimize your Conversion Funnel | Read this article to learn about conversions.\",{\"_258\":286,\"_84\":1512,\"_190\":1510},\"What is Conversion Funnel? - Learn How to Optimize your Conversions\",{\"_258\":290,\"_291\":292},[-5,-5,-5,-5,-5,-5,-5],[1516,1522,1526,1531,1533,1537,1541,1545,1549,1551,1555,1559,1563,1567,1569,1573],{\"_59\":1517,\"_84\":1518,\"_190\":1519,\"_1520\":1521},\"business-ideas\",\"Business ideas\",\"Ready to start a business, but unsure what to do? No problem. Check out tons of business ideas. Get inspired. Unlock everything you need. Build your empire.\",\"parentHandle\",\"build-your-business\",{\"_59\":1523,\"_84\":1524,\"_190\":1525,\"_1520\":94},\"a-day-in-my-life\",\"A day in my life\",\"What's it really like to own a business? Spoiler alert: it's not always pretty. Hear real-life stories about a day in the life an entrepreneur. No BS.\",{\"_59\":1527,\"_84\":1528,\"_190\":1529,\"_1520\":1530},\"mindset\",\"Mindset\",\"Optimistic but real. Relentless but compassionate. Your mindset is everything if you want to be a successful entrepreneur. Learn how to raise the bar.\",\"your-life\",{\"_59\":1521,\"_84\":87,\"_190\":1532},\"Wanna build a business? Check out articles, podcasts, videos, and ebooks about the skills you'll need - from business ideas to marketing to case studies.\",{\"_59\":1534,\"_84\":1535,\"_190\":1536,\"_1520\":1521},\"case-studies\",\"Case studies\",\"Hear from entrepreneurs who been there, done that. Dive into case studies on podcasts, ebooks, articles, and videos.\",{\"_59\":1538,\"_84\":1539,\"_190\":1540,\"_1520\":94},\"my-first-90-days\",\"My first 90 days\",\"The first 90 days of your startup are the make-or-break. Check out real-life stories from entrepreneurs who weren't afraid to get their hands dirty.\",{\"_59\":1542,\"_84\":1543,\"_190\":1544,\"_1520\":1530},\"money\",\"Money\",\"Money. It's on everyone's mind. Check out podcasts, ebooks, articles, and videos to master your personal finances, set money goals, and smash them.\",{\"_59\":1546,\"_84\":1547,\"_190\":1548,\"_1520\":1521},\"design-and-branding\",\"Design and branding\",\"Don't scare customers away with an ugly website. Unlock everything you need to build a beautiful ecommerce store and a memorable brand that customers love.\",{\"_59\":94,\"_84\":95,\"_190\":1550},\"A collection of articles, podcasts, videos, and ebooks with real-life stories from other entrepreneurs. Learn something. Get inspired. Start your own.\",{\"_59\":1552,\"_84\":1553,\"_190\":1554,\"_1520\":94},\"raise-the-bar\",\"Raise the bar\",\"It's one thing to be successful. But are you working to make things better for everyone else? Hear real-life stories of entrepreneurs who are raising the bar.\",{\"_59\":1556,\"_84\":1557,\"_190\":1558,\"_1520\":1530},\"productivity\",\"Productivity\",\"To be a successful entrepreneur, you have to grind. Every. Single. Day. Check out podcasts, ebooks, articles, and videos on how to be more productive.\",{\"_59\":1560,\"_84\":1561,\"_190\":1562,\"_1520\":1521},\"dropshipping\",\"Dropshipping\",\"Learn how to start a dropshipping business, including ideas for what to sell. Podcasts, articles, videos and ebooks that will teach you how to start.\",{\"_59\":1564,\"_84\":1565,\"_190\":1566,\"_1520\":94},\"starter-stories\",\"Starter stories\",\"It takes guts and hard work to be an entrepreneur. Listen to real-life stories about people who nailed it, and what you need to start your first business.\",{\"_59\":1530,\"_84\":91,\"_190\":1568},\"Mindset. Wellness. Productivity. Money. Check out articles, podcasts, videos, and ebooks about the things that make good entrepreneurs even better.\",{\"_59\":1570,\"_84\":1571,\"_190\":1572,\"_1520\":1530},\"wellbeing\",\"Wellbeing\",\"Avoid burnout. Stay resilient. Take care while you grind. Learn wellness tips for entrepreneurs. Your business health is only as good as your own health.\",{\"_59\":1574,\"_84\":1575,\"_190\":1576,\"_1520\":1521},\"marketing\",\"Marketing\",\"Online marketing is a beast of its own. Check out podcasts, ebooks, articles, and videos on marketing your ecommerce business. Tame the beast. Grow your empire.\",\"($locale)~~layout\",\"actionData\",\"errors\"]\n");</script><script>window.__reactRouterContext.streamController.close();</script>