Report shows how to Grow Ecommerce Sales Through Boosting 11 CX-Based Business Metrics
Monday 5 October, 2020Recent eCommerce market analysis shows that market share and other core business performance indicators can be significantly enhanced through better online customer experience. A study of the top ten thousand eCommerce companies and dozens of research papers revealed 5 metrics that are affected by streamlined customer interactions. Enhancing them might be a shortcut to increase website traffic, conversion and market share.
According to a recent Frost & Sullivan survey, “improving customer experience” is a top-rated driver for commercial success for most businesses. As the study shows, customer experience in eCommerce is based on web performance. To sell online effectively, one needs to take care of things like bounce rate, image compression, and site speed. Ignoring these issues may result in $2.6 billion losses for retailers annually, but the good news is, these risks can be minimized easily.
For instance, the research shows that one of the most effective ways to improve customer service is optimizing shopping-related content for mobile. According to GSMA, global mobile device penetration is already over 70%, so it looks like digital transformation is turning eCommerce into m-commerce. This requires compressing image-heavy content without quality loss, which can be delegated to some modern end-to-end cloud service acting as an image optimizer and compressor. A solution like this can reduce image file size by up to 86% with the same quality. This helps decrease tech-related costs by up to 92%, helping to optimize marketing budget and reduce overall product cost.
Apart from such savings, data shows that improving customer service may help to increase website traffic due to better SEO rankings. Google likes user-friendly, fast websites, so improved search positions can become one of the free ways to drive traffic to your website. This affects such key performance indicators as total visits, while a fast-responding website drives customers to purchase more, increasing AOV, number of sales, and market penetration.
The free full version of this analysis provides more details on how to boost core eCommerce KPIs through enhanced online customer experience. The research was inspired and run by Uploadcare, a company providing an end-to-end cloud media pipeline for eCommerce businesses including L’Oreal and Shogun.
About Uploadcare
Uploadcare is a global end-to-end cloud platform that covers the complete media pipeline, using one of the world’s fastest File Uploaders, an automated Smart and Secure Storage, a supreme AI-driven Image Transformations Engine, Visual Intelligence Algorithms, and unique content delivery solutions.
Founded in 2011, Uploadcare has become a technological partner in eCommerce, eLearning, SaaS, and healthcare industries for thousands of clients like Mozilla, L’Oreal, Sundance Institute, Paperless, and Totango. In 2019, Uploadcare raised a $1.7 million seed round led by Runa Capital and Vendep Capital, with existing investors Vaizra Capital and LVL1 Group participating. In 2020, Uploadcare became a finalist in the Nanjing Tech Week Cloud Competition.
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