69% of online visitors are leaving your purchase funnel without completing their orders. There are substantial studies that show that businesses can see a steep surge in revenue and sales numbers if they can mitigate this looming threat of cart abandonment even by 5%. The need to understand customers’ minds, thus, prominently arises here. Various tools and techniques have been tried and tested to have a look at the every stage of customers’ buying journeys. But with analytics, you can see where your customers are dropping off – but you can’t see the why. A carefully undertaken analysis and use of customer feedback can expand our comprehension of that elusive factor- why. Mitigating cart abandonment is impossible without the fusion of this “why” and where. That’s precisely why customer feedback and conversion are directly proportional.
Though product reviews are a crucial form of feedback, you should take into consideration aspects like website experience, customers’ expectations, and what they are saying about you through comments on consumer portals and social media. The reason for this is 75% say that their choice of the retailer was influenced by what they read on social media sites. Again, it’s a strong case that solidifies the link between customer feedback and conversion. The following list talks about how to use feedback to go pass the finishing line of conversion.
For online buyers, your website is their information hub. They read about products there, see photos, and decide whether to buy it or not. In that sense, a website is the ultimate and direct sales channel for e-tailers. Thus having pages with a lower exit rate–the percent of sessions that ended on a certain page–and bounce rate–the percent of sessions in which only one page was viewed–holds paramount importance.
Analytics will give you insights like pages that are receiving paid leads/traffic and pages that are getting the highest traffic. But genuine feedback from customers will let you know about the obstacles that are repelling them from converting. Their trepidation may come from a bad product description, off-putting design, or serpentine navigation. The reason can be anything., but you need to know it. As soon as you see a customer’s mouse moving towards the “X” box in their browser, you can intervene by running a quick feedback by asking right questions at the right time. If you ask questions that are relevant to your site’s UX, you can figure out specifically why customers are leaving, and give you the opportunity to offer them last minute help before they go.
As the above figure shows, if a number of visitors had trouble finding your size chart, you could link to it in a bigger font, closer to the center of the page. By actually pointing out the pain points, such feedback is giving you a chance to keep customers on your website. Given that the longer they stay on your site, the higher their chances of conversion are, the relationship here between customer feedback and conversion is clear.
Clearly, shoppers tend to buy products that they believe are relevant to them and their lives. This means that it’s crucial to tap into customers’ consciousness about what products or services they’re most interested in, what improvements they would like to see in current products, what according to them constitutes the framework of great customer service, and what are the main irritating parts that they want you to get rid of from the product or experience.
In this sense, feedback clearly acts as a merchandising solution. It empowers you to make necessary amendments in your products and customer service, which will be in a close accordance with your customers’ wishes.
In terms of personalization, one of the salient features of feedback is that it gives you granular information about each and every individual who has participated in your feedback process. Consequentially, it opens up greater opportunities for very personalized marketing. As you have complete profiling with whereabouts and preferences of individual customers, you can zero in on a single customer who engages in a specific action. Then creating automation rules and segments based on behaviors–whether it’s a stated preference for a certain product category, a desire for better mobile experiences, more product information, or anything else–is easy.
It’s well-documented that transparent customer feedback generates trust. 70% of consumers trust reviews written by other customers above professionally written marketing content. When you have feedback in the form of reviews, questions and answers, or visual commerce on your site, you consequently instill a sense of trust in your shoppers. When they view your brand and products as authentic, the chances of conversion go way up.
82% of shoppers say that user-generated content is extremely important when deciding on purchases. In fact, when consumers see UGC while shopping, conversion rate goes up by 4.6%. When they interact with user-generated content, conversion rate spikes up by 9.6%
The bonus of this benefit is that you don’t have to take any additional steps, like changing your merchandising or UX. Instead, the fact that you have reviews and other UGC on your site does the work for you.
For more information on the relationship between customer feedback and conversion when it comes to product reviews, don’t miss our white paper, Your Top Ratings & Reviews FAQs!
It then becomes vital to use such a prestigious and trustworthy feedback on all available avenues. They can be included in product pages, white papers, case studies, email marketing, and in every conceivable means of marketing communication. And looking at the stupendous power of social media, it should top the list of avenues where reviews can be fittingly inserted. Life Beam has pulled it off nicely. It posts customer reviews on its Facebook page to catch the eye of potential customers.
All the aforementioned points boil down to the same adage: Know Your Customers. This is because you must experience the customer’s journey from his perspective to uncover the root cause of suboptimal conversion rates. Then and only then you will be able to create a purchase path that reflects customer preferences and removes friction across the funnel. This is the biggest prerequisite for any form of conversion…and all this can begin with comprehensive feedback!