It's obvious that the prime function of your Yahoo! store is to generate sales. The generation of that revenue starts on your home page. Because the home page is the most important piece of real estate on your site, you need to create a home page that sells. Remember these important keys when creating a home page that sells:
Your home page is important and is there to sell. Make sure that's what it does for your Yahoo! store. Tip: Mystery Meat Navigation Don't get cute with your navigation graphics. Vincent Flanders, who owns Web Pages That Suck, defines Mystery Meat Navigation like this: "One popular, but horrible, design technique is based on JavaScript rollovers. It's horrible because you can't just look at the links and know where they will take you. You have to mouse over the links to find out your destinationand that's wasted effort which will probably alienate your visitor." Shoppus Interruptus: Losing the SaleAs you are finding out, succeeding with your Yahoo! business is no easy task. First, you build your Yahoo! store; then you have to drive customers to it, merchandise your store to entice shoppers to buy your product or service, and, finally, make the sale. You're home-free, right? Not necessarily. The curse of all shopping sites is the abandoned shopping cart. Recent studies have found that up to 75% of all online shopping carts are abandoned before the sale is completed. Imagine this: You walk unto your local grocery store and see dozens of shopping carts filled with groceries abandoned in the shopping aisles. If you were the manager of that grocery store, you would have a heart attack. But that's what it's like every day at most online stores. All that work building, marketing, and managing your Yahoo! store, and then failing to close most of the sale. So how can you reduce the number of shopping carts that are abandoned at your storefront? You have little choice of shopping-cart software for your Yahoo! store. Yahoo! provides it, and, as shopping carts go, it's very good. But you can do some things to help reduce the abandonment rate of shopping carts. The most important thing to do in this case is to give shoppers all the information they need up front so that they are not surprised with unexpected costs, information, or procedures during the checkout process. Building that customer relationship by offering a good shopping experience before the sale will help reduce abandoned shopping carts during the sale. Here's how:
Keep these tips in mind to reduce the rate of shopping cart abandonment at your Yahoo! store. Other Ways to Increase RevenueBesides earning sales, you can generate revenue in your Yahoo! store in other ways. Consider these tried-and-true ideas to be found money. First, use your everyday email communications to generate revenue. When shoppers opt into your email newsletter, special promotions, contests, coupons, or preferred shopper club, add a special offer with the email confirmation. Special offers should be included in every autoresponder with a link to a special landing pageor, better yet, a microsite. Don't forget the customer service emails that you send to clarify or confirm an orderor even when notifying the customer that an order has shipped. This is a perfect time to try to add onto the sale or generate a new order. Thank the customer for the order and, as a thank-you, include a special offer. This gives shoppers another reason to make a purchase. Tip: Using Employee Email to Sell Put a link to a special offer from your Yahoo! store at the bottom of every employee email that goes out. Again, link to a special landing page or a microsite. Another idea using employee email is to allow employees to send exclusive offers to friends and family with special rates and discounts. This could be a good way to move overstock or outdated items in your inventory. IBM offers end-of-life products at excellent discounts to family members of employees. You also could offer special discounts during an employee-appreciation month; employees are consumers, too. If you advertise open positions on your website, when resumes come in, respond to them with a special offer. Use an autoresponder thanking candidates for their interest in the job offering and include a special discount or coupon for your product or service. Offer them a special 10% discount to thank them for applying to your company. Besides using email, you can sell noncompetitive products and services that complement your offerings. If you have a travel site, make a deal with a travel-accessory site and bundle your service with its product in return for a percentage of the sale. Carrying this idea further, join the affiliate programs of companies that complement what you sell. You know your shopping audience and the target market that is attracted to your storefront. Go to www.associateprograms.com (see Figure 16.1) and review the many different affiliate programs that are offered there. You should be able to find several that fit your target audience. Figure 16.1. Associate-Programs.com lists hundreds of affiliate programs in dozens of categories.Finally, if you have a large amount of traffic at your storefront and have a highly specialized and targeted audience, you might be able to sell advertising or sponsorship space on your storefront. |