E-retail sales account for 14.1% of worldwide retail sales today, and this figure is expected to grow in the near future. However, despite the boom in eCommerce, it's become increasingly crucial for businesses to stay relevant by keeping up with the latest industry trends and making strategic decisions that help expand the company to new heights.
As a product, jewelry is quite susceptible to market changes, making it incredibly crucial to ensure your brand and store stand out amongst the competition. Luckily, there are many strategies that you can implement to boost your business's efficiency and grow your store dramatically.
Use a multi-channel strategy
When you put all your eggs in one basket and dedicate your efforts to one channel, you're at risk of not only losing the opportunity to tap into a wide customer base but also derail your entire operations if something goes wrong with that particular channel.
Your business needs to be accessible through various channels, whether that's just through marketing or sales too. Utilize channels such as Amazon and focus as much effort on them as you would for your eCommerce store.
If you're confused about how you'd manage your inventory through different channels, don't worry. By using jewelry inventory software, you can integrate your inventory programs with platforms like Shopify, ensure you won't spend too much time managing your inventory, and prevent running out of stock through regular notifications.
Add compelling product descriptions and attractive images
Your jewelry requires stunning content to convince your customers to purchase from your store. Since customers won't see the products in person, you need to draw them in by what they read and see. With 75% of customers relying on product photography for online purchases, imagery is undoubtedly crucial.
It's not just enough to describe the product; you need to highlight its features. It would help if you also highlighted how it can add value to your customers' lives by creating a picture in their heads, describing how they can wear it and how it'll make them feel. Apart from this, there are a few formatting tips you can incorporate, including:
* Using subheadings
* Using larger font sizes to improve readability
* Using bullet points to draw attention
* Making the copy more readable by adding white space throughout the content
Improve your shopping cart’s functionality
Your shopping cart serves as the heart of your jewelry store, and you need to ensure it's easy to navigate and functions properly. You should schedule tests regularly to ensure everything is functional, and you're actively reducing your shopping cart abandonment rate, which, on average, is as high as 80%.
The key to creating an excellent shopping cart is to reduce the number of places to exit and any distractions on your checkout page. As mentioned earlier, your target customer should be focused on one goal, which, in this case, involves generating a sale.
Create a landing page
Creating a personalized landing page with a compelling copy greatly increases your chances of driving conversions and is much more useful than using paid ads to generate results. To maximize effectiveness, you should create different landing pages to cater to the different segments of your target audience.
To pull this off, you need to create buyer personas and complement this with data analytics that explain customer behaviors to gain a comprehensive understanding of the different segments you want to target. Research suggests that companies with 30 or more landing pages generate 7 times more leads than those with less than 10.
Your landing page should ideally have one call-to-action (CTA) that serves one purpose. You can have multiple buttons, but all of these buttons need to lead to conversion. It's essential for the buyer to focus on a single task, which will result in higher conversion rates.
Moreover, your landing pages need to be user-friendly. You should ensure minimal distractions, such as social media buttons, that can divert your target audience's attention. Lastly, landing pages should be mobile-friendly to accommodate your potential customers who will browse your store on their smartphones.
Utilize artificial intelligence (AI)
AI is a powerful tool that has the potential to transform your eCommerce store. Your jewelry store can use AI in multiple ways to offer its target audience an innovative experience. For starters, you can create a customer-centric approach for search results that suggest complementary products, in terms of size, color, and shape, for instance.
You can also AI to add chatbots, which can offer support 24/7. 69% of customers prefer using chatbots because of the speed at which they can communicate with brands. These chatbots are especially useful when customers have basic questions regarding shipping, which can instantly be answered by an automated tool.
Another way AI can help is by providing a personalized experience to repeat customers. Personalization boosts overall customer engagement rates because it reduces the time customers spend on your websites and targets their interests. In fact, 48% of consumers spend more due to a personalized experience.
For instance, if you make product recommendations based on past browsing and purchase history, customers would be more likely to buy your products since it'll be relevant to their preferences.
The tactics listed above are just a few ways you can maximize your jewelry store's efficiency. There are countless other strategies your brand can implement to optimize your store's performance. It's essential to test different ways to determine what works best for your business.
What other strategies can build a jewelry store's efficiency? Let us know in the comments below!