The approach to a successful Magento Web Store is; Keep track of your goals, with the support of analytics. However, applying analytics demands decision making. Hence, today, we’ll share some effective practices of how to implement them for personalizing your Magento Web Store.
At Xcentric, we provide custom Web Design and Development services based on Magento, along with Digital Marketing in Pakistan services that are data-driven. Though to us, being data-driven means advancing from the massive range of analytic tools and information. Being in the web development industry and having loads of experience in building Magento Commerce Stores, we assure that realizing these tools and information can support online retailers in receiving a clear insight of their clients, which helps in generating more traffic, and later converts them into sales.
Why use altered approaches for New and Returning Visitors on your Magento Web Store?
In this article, we’ll discuss how new visitors and the returning ones behave differently on Online Stores. Instinctively, we all know that the number of returning visitors is limited. However, their purchasing intention is stronger, which is why they add more to an online store’s revenue.
To give you a closer insight into how customizing the buying experience with minimal tweaks can help you Generate 10 Million Online Sales Consistently, we ran some specific tests on our site.
Here are some trends we noted in Return Visitors;
- They added 65% more items to their carts, as compared to New Visitors
- Their conversion rate was 73% more than New Visitors
- The spending per transaction was 16% more than that of New Visitors
Though we agree over the fact that not every Online Retailer knows what alterations work, and how will they work. But still, for a good reason, Personalized Magento Web Stores are the new cool fellas in the E-Commerce industry. So why not be friends with them?
We ran Modification Tests at Xcentric; Look into the Results!
As a part of our research on personalization initiatives, we compared New Visitors to the Returning Visitors and found out that both of them are looking for different elements on an E-Commerce website. Let’s see how these tweaks of personalization increase the Magento web store’s revenue.
1. We switched the Checkout button with – Secure Checkout
Checkout processes introduce trust and communicate to a customer that purchasing from your website is safe and secure, as the savvy customers of this era are very particular about their privacy. Hence, supporting the safety of your customer’s experience ensures their continuity of purchase.
Given that, our first test was based on switching the usual – Checkout Button with a much risk averting – Secure Checkout. And safe to say, this personalization worked well for attracting more return visitors on Magento Web Store. Later, lifting higher conversion rates and revenues.
2. Added Numbers to each Checkout Step
Technically, a Checkout process needs to be linear, and visibly leading, from one step of the process to the other. Considering that most of the customers are Millenials or belong to Gen Z, who are always short on time, they might abandon carts if the checkout process feels troubling and extended to them.
Hence, for this test, we decided on personalizing by adding numbers to each step of the checkout process. Once again, it’s safe to say that this test created a sense of progress in the customers, while they continued filling out their order information. However, there was still a drastic difference between the reactions of New and Returning Visitors. The contribution of returning visitors to revenue was still triple than that of the new ones.
Conducting Personalization Experiments on your Magento Web Store? Consider these BEST PRACTICES!
1. Keep an eye on the Sample Size
Personalization experiments require a sample size. However, there’s a limitation to this method called – Slicing of the Data. Unfortunately, when you’re busy carrying out experiments, you might not notice, but your sample size will decrease with each segmentation.
Therefore, consider some larger sample sizes, and keep an eye on how they’re shrinking, as smaller sample sizes are famed for being oh-too-sensitive, and might reflect some negative results.
The Tip – Before you conclude the results, make sure that you’ve drawn at least 100 conversions out of each segment.
2. Small changes save Time
Imagine visiting a website that has been drastically revamped and feels alien to you, frustrating right?
Though we agree over the fact that some incredible lifts on your website attract new and return visitors, both. However, bigger lifts work the other way around, and sadly, you might see the worst results in some cases.
Hence, we suggest, consider making some teeny tiny changes over time. This way your developers won’t be burdened, plus, the customers won’t be stunned by seeing a new website all over again. After all, the returning visitors were once new, and some of the new ones will surely be the returning ones. Hence, the best part of giving your customers a great experience is to grow with them, at their pace.