71–80 of 90 posts
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Agreed. I work for a company in such a niche and there are definitely side-niche markets still out there for people to find and dominate, sometimes even on SEO alone. A small piece of a huge pie is still a very large piece to me.
Have a good example of one that took that piece? Outside of Amazon
[1] http://sas.dk (Search for e.g. Copenhagen -> London)
[2] http://lufthansa.com (Search for e.g. Frankfurt -> Copenhagen)
Well, running a rudimentary eBay store you realize these things help pretty quickly, but it's good to have data. However... Starting a new e-commerce property? Good luck finding traffic in anything profitable. Amazon and other Giants dominate search rankings so I'm not sure how you will find your traffic unless you create a new niche. Maybe you're a thought leader in a hobbyist space, that can work... But you're not…
Counter-argument: http://fortune.com/2017/05/11/tophatter-e-commerce/ Disclosure: I work at Tophatter.
tl;dr: The 3 items possibly statistically significant are: - Saying there are just a handful items left in stock (+2.9% revenue per client) - Saying other people are watching this product (+2.3%) - Time limited offer (+1.5%) I did not see mention of combining these factors. I doubt the gains are cumulative. My main takeaway is that most optimizations are not worthy if you have the opportunity to spend your time/money…
Whether they're dick moves is all in how you handle them. In the nonprofit world, these things are well-known and tend to be handled with finesse and even grace. 1. It's not just about items in stock. "Our SomeNonprofit membership program has just 10 places left at the platinum level, where you receive the following benefits..." 2. Social proof is more than just what people are watching. "Fans of SomeNonprofit donate…
In your case they are not, so I agree that it is interesting to remind people of actually seeing these.
tl;dr: The 3 items possibly statistically significant are: - Saying there are just a handful items left in stock (+2.9% revenue per client) - Saying other people are watching this product (+2.3%) - Time limited offer (+1.5%) I did not see mention of combining these factors. I doubt the gains are cumulative. My main takeaway is that most optimizations are not worthy if you have the opportunity to spend your time/money…
> I doubt the gains are cumulative Why do you doubt that? Aren't they presented as independent results? > bring value to the consumer This is vague, but also a separate goal. Perhaps another way of representing customer value is churn reduction. In any case, it could be appropriate to invest in gaining 3% more revenue per additional customer, then use the gains to invest in more customer value. > #1 and #3 are dick m…
Real scarcity exists, but this paper gives an incentive to create artificial scarcity. I have seen a lot of websites mention low stocks but none mentioning backorders or restocking estimates. Saying "Only 3 items left" has a very different effect than "only 3 items left but 100 more arrive in 2 weeks".
tl;dr: The 3 items possibly statistically significant are: - Saying there are just a handful items left in stock (+2.9% revenue per client) - Saying other people are watching this product (+2.3%) - Time limited offer (+1.5%) I did not see mention of combining these factors. I doubt the gains are cumulative. My main takeaway is that most optimizations are not worthy if you have the opportunity to spend your time/money…
AirBnB does a lot of these — and they aren't necessarily dick moves when you're looking at something with limited availability. If 1,000 people have looked at an AirBnB listing, it does actually make sense to book faster than a property 3 people were looking at.
For instance, do you count people "watching" this property through suggestions while they are browsing another one? Do you count people who clicked it but went back after checking the address? How long before you do not consider a person "watching" anymore?
Each of these decisions have different answers if the goal is to raise revenues or to provide accurate information to consumers.
Well, running a rudimentary eBay store you realize these things help pretty quickly, but it's good to have data. However... Starting a new e-commerce property? Good luck finding traffic in anything profitable. Amazon and other Giants dominate search rankings so I'm not sure how you will find your traffic unless you create a new niche. Maybe you're a thought leader in a hobbyist space, that can work... But you're not…
That's simply false. There are always categories or "side"-categories that can be highly profitable and big stores only care about as a side business (small category in their store). Being a small category for a huge store means they don't care about that category too much but it doesn't mean there isn't a lot of cash to be made. I've helped several companies to build an online store that did exactly that and they ar…
Exactly. The classic example that always comes to my mind: I work with audio and music production in my spare time and looking for equipment from that category will almost certainly result in a first search result from Thomann, a store focused on studio gear (like Sweetwater for europeans/germans), rather than Amazon, eBay and Co.
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This stuff is less common knowledge than you might expect. When bringing on new clients at Qubit (particularly smaller ones), we still find so many of them obsessing over tiny UI changes expecting it to make an impact. Much of the e-commerce industry has bought into the idea that the cosmetics of a site is the most important thing to get right.
I believe that the main focus of any ecommerce site should be pricing, availability and having the payment and delivery options your customers expects. E-commerce sites want to "engage" with their customers, but fail to realise that the customers don't want a relationship. They just want whatever product you're selling as quickly and cheaply as possible. Most of you customers will be coming via price comparison sites…
I have done a/b tests where increasing the price of the product increased the conversion rate. The original price was to low and the customers thought this was a cheap non quality product.
Also I, and many people I know, are not shopping for the lowest price, but for the best overall package. (Reputation of seller, return policies, shipping duration, display of the product in the shop, filter and search abilities to find the right product in the shop, ...) There are of course many users who simply want the lowest price, but one important thing if you a/b test is: You don't have to go with the biggest group of users (in this case price sensitive), there are so many other oppurtunities if you understand your users. In e-commerce these oppurtunities open especially often, if the user is not exactly sure what product/brand he needs or wants to buy. Competing on price is really hard, competing on advice is often easier as a small shop.
Earlier quoted context omitted.
I believe that the main focus of any ecommerce site should be pricing, availability and having the payment and delivery options your customers expects. E-commerce sites want to "engage" with their customers, but fail to realise that the customers don't want a relationship. They just want whatever product you're selling as quickly and cheaply as possible. Most of you customers will be coming via price comparison sites…
Two counterpoints: I have done a/b tests where increasing the price of the product increased the conversion rate. The original price was to low and the customers thought this was a cheap non quality product. Also I, and many people I know, are not shopping for the lowest price, but for the best overall package. (Reputation of seller, return policies, shipping duration, display of the product in the shop, filter and s…
What you're selling sets the threshold for those things. Return policies, advice and reputation matter more for embroidered clothing than they do on bulk sales of nuts and bolts.
I wish they would have evaluated the effect of dynamic pricing. That is, showing different prices to different visitors for the same product. Perhaps not enough online retailers employ the practice, although it seems to be an important tool for retailers like Amazon[0]. 0. https://www.theatlantic.com/magazine/archive/2017/05/how-onl...