At just over halfway through the year, 2020 has been...different.
We caught up with Rich Greenwell, Commercial Director at UpSellit, to learn how the company—who provides ecommerce conversion optimization solutions to advertisers—has remained competitive, while continuing to adapt and evolve throughout the year so far.
CJ: In one word, how has 2020 been so far?
Rich: Promising. We’ve seen many traditional retailers reinvest in digital channels to remain profitable while brick & mortar locations have been shut down. We’re optimistic that even retailers facing difficulties can overcome challenges and use this time to pivot strategies for growth.
CJ: What are the biggest challenges merchants currently face?
Rich: Overall consumer confidence has taken a hit. While traffic is spiking for much of ecommerce, many merchants have seen lower conversion rates. This is attributable to consumers feeling uncertain about their financial security, translating into price sensitivity and friction to conversion.
In addition, we’re seeing leaner teams and marketing departments trying to do more with less. Many are looking for strategies to secure revenue now while setting them up for future success.
CJ: What’s the biggest positive outcome you’ve seen over the past few months?
Rich: Across most segments, retailers have seen a significant increase in traffic, which presents retailers ample opportunity to grow their lists by capturing new leads.
In addition, many consumers have grown more comfortable ordering items online that they would have otherwise gone to a physical store to purchase, such as groceries. We suspect this new comfort with online shopping will carry over once things start to stabilize, meaning more opportunity for traditionally brick & mortar purchases to thrive online.
CJ: What strategies can help merchants overcome these challenges?
Rich: Securing as much online revenue as possible must become a top priority for retailers; however, the key is to tailor a solution that addresses the root cause of challenges while enhancing the shopping experience. That means taking a hard look at data, trends, and patterns to determine where a site needs to improve performance.
In the case of supply shortages, strategies like UpSellit’s Low Stock Alerts help businesses combine scarcity and urgency to reduce friction and convince shoppers to ‘get it before it’s gone.’ UpSellit’s Back in Stock Alerts also turn abandonment into opportunity by presenting shoppers the chance to be notified when an item they are viewing is replenished.
For sites experiencing lower average order values, strategic upsells, bundles, and personalized product recommendations can increase order size without offering a unique incentive. If retailers fall in the category of high traffic but low conversions, we’ve implemented strategic lead capture and remarketing strategies to keep merchants top-of-mind until users are ready to return and complete a purchase.
CJ: Why is a performance partner helpful during a time like this?
Rich: At a time when budgets and teams are lean or overextended, it’s important to recognize you can’t handle everything on your own. Working with a performance partner that can serve as an extension of your marketing department helps ensure you meet business KPIs without sacrificing other goals and objectives.
UpSellit offers flexible pricing to meet the needs of any business which allows retailers to stay profitable from the start. In addition, we continuously monitor and analyze all solutions to ensure strategies are at peak performance and provide the highest possible ROI. Additionally, we don’t employ contracts, fees, or retainers, meaning we let our technology and its impact prove our value as a performance partner.
CJ: How is UpSellit helping clients overcome these challenges and maintain online performance?
Rich: At this moment, many marketing teams are stretched thin. UpSellit helps by serving as an extension of each client’s marketing team. Our designers, copywriters, and engineers work entirely in-house to provide high quality solutions with rapid turnaround. UpSellit can provide mock-ups in just five days and have a campaign live in ten business days.
In addition, real-time monitoring and reporting ensures we can adjust solutions and continually optimize performance. We can also integrate our reporting into virtually any third-party analytics software, meaning results are trustworthy, reliable, and verifiable in whichever platform is preferred by our partners.
With over 15 years of experience, we have the technology, experience, and dedicated teams to ensure that sites can secure the revenue they need now, and set themselves up for success in the days ahead.
Interested in working with UpSellit? Schedule a demo today!