There is big talk surrounding the disruption of the brick-and-mortar retail model from the likes of eBay, Amazon, and other online marketplaces. This is well justified - studies have shown that offering an avenue for customers to purchase goods online has the potential to increase revenue by 28% for established brands, and over 100% for smaller boutiques. By having lower running costs, increased flexibility, customer reach, and methods of analysing the market, it's no surprise that launching an online shop brings about many benefits. However, there remains a key issue when it comes to selling products online - the drastically low conversion rates ranging from 2-4%.
At Persollo, we've dedicated ourselves to solving the problem of low conversion rates in order to optimise the process of selling online even further. With some experimentation, we've discovered that the integration of our instant checkout technology with social selling has the potential to increase conversion rates by over 300%.
Unlocking Selling on Social Media
Essentially, we've recognised the potential of social media as 'the new shopping mall'. In many ways, the promotion of products over platforms such as Facebook and Instagram are capturing the attention of consumers more effectively than traditional advertising channels.
However, despite social media and mobile shopping accounting for 83% of all e-commerce traffic, it only returns a 1% conversion rate. One in every five online businesses is facing the problem of having traffic, but severely limited conversion, which ultimately results in a poor amount of sales and revenue.
How Does our Tech Fit In?
Our technology plays a major role in facilitating the success of any sales process that Persollo has been involved with. The instant checkout works to eliminate the burden of the online 'shopping cart', and the high abandonment rate that tends to come along with it. Ultimately, having a single-page checkout lessens the probability of a potential customer dropping out of a purchase at its most crucial moment.
The links to these checkouts are largely accessed through Influencer biographies and posts over social media. This provides a convenient and easy to access method for consumers to attain their desired product, while also reducing the overall time spent in the checkout stages. Our instant checkout technology effectively targets passionate, impulse buyers, which makes it a perfect match for social selling.
The best part of this is the easiness of its setup. Brands and individual sellers are able to adopt this technology within a matter of seconds. After signing up, the link to the customised, instant checkout is immediately generated and is ready to share across all platforms of social media. For an increased reach of potential customers, it is also possible for brands to setup affiliates and Influencers to promote their product. In essence, anyone will be able to start selling in a click.
The Future
Furthermore, our technology has evolved to be heavily powered by data and artificial intelligence. Over the next decade, the influence of AI on e-commerce will become increasingly apparent in it's ability to change the way consumers search for products and will be able to better predict customer purchase patterns. The Persollo Team hopes to be the driving force behind an innovative shopping and checkout experience, and is thrilled to be living out this ongoing and exciting change.
Our previous campaigns involving a mixture of our instant checkout tech and social media Influencers have been consistently successful. By executing this process, we went beyond generating brand awareness and engagement, and into driving direct responses through sales and app downloads powered by our unique technology. Read about our social selling journey with New Balance here.
Visit us at https://persollo.com/