Photo Clipart Island

eCommerce businesses and online sales channels of traditional retailers are on the rise, with a growth rate almost 6 times higher than overall retail industry, according to NFR and Forrester reports. Despite such fast growth rate and considerable investments, there still exist vast untapped opportunities in online stores across the world, according to a recent study by MarketLive:? Over 90% of visits do not result in shopping carts.? About 60% of shopping carts are abandoned.? About 80% of customers do not have repeat orders.Companies should focus on end-to-end management of customer lifecycle to leverage these untapped opportunities and boost bottom-line results. Actions taken at every stage of customer lifecycle would increase cart values, decrease abandonment rates and have direct effect on profitability.Successful management of this lifecycle requires effective use of customer analytics, identifying customers at different stages, their profiles and taking custom actions for each. Online stores hav EasyAzon Review e an upper hand in terms of customer and visit data when compared to traditional channels, with the ability to observe shopping behavior details such as what visitors search for how much time visitors spend looking at which products, etc. Companies should leverage such data and find ways to further enrich it (e.g. through loyalty programs, golden questions, personalized shopper assistance for detailed lifestyle data).Every stage in this lifecycle requires exclusive attention and online store managers should assess their performance and take certain actions targeting customers in each stage. Forte Consultancy Group defines eight stages and guidelines to follow in each stage based on best practices as follows: A. Create VisitsDefinition: Attract visitors to online store from all target market segmentsGuidelines:1. Use search engine optimization techniques based on web traffic insights2. Utilize variety of online and off-line acquisition channels3. Customize acquisition approach by target market segment4.