Sales Strategy
Retailers’ Secret Weapon: Your Conversion Rate October 25, 2017 (0 comments)
Louisville, KY—If it's true that in-store traffic has permanently declined in the face of growing e-commerce, why aren’t more brick-and-mortar retailers using the same strategies to build sales as their online competitors?
This article on RetailCustomerExperience.com says that after the dot-com bubble burst in the early 2000s, online marketers realized they couldn't merely focus on generating website traffic, they needed to focus on conversion; i.e. making the sale.
While many brick-and-mortar retailers track store traffic and measure conversion, how many of them focus on optimizing their in-store conversion rates? The answer, says the article, is not many. Conversion rate optimization (CRO) has become an entire industry unto itself in the online world, but not so much in the brick-and-mortar world.
Retailers need to learn the difference between tracking and optimizing conversion, says the article, with such strategies as testing and measuring, reporting and coaching, and more.
Top image: iStock via RetailCustomerExperience.com