Imagine a consumer browsing products in your brick-and-mortar store. They may peruse a few items, glance at a few price tags, and leave before you even get the chance to see what they were looking at.
In the world of eCommerce, however, gathering and interpreting consumer data to optimize your sales is not only possible, it’s required if you’re really interested in growing your sales online.
“As opposed to retail, in eCommerce everything is measurable—every click and consumer behavior,” said Melanie Alder, Pattern Founder and Chief Investment Officer.
That’s why, being the data fanatics that we are at Pattern, we’re obsessed with using tried and true, research-backed methods to help our partners experience real growth. (On average, brands grow 40% in their first year with us.)
We generally start helping brands grow by examining the following areas.
1. Increase traffic
Easier said than done, right? Actually, said John LeBaron, Pattern's Chief Revenue Officer, optimizing what you’re already doing to increase traffic to your product pages is a great place to start.
“You can do that via advertising, you can do that through organic-owned media or earned media, you can also use Amazon programs,” LeBaron said. “Increasing traffic to your product detail pages is one of the first ways to jump-start growth.”
2. Increase conversion
What’s the conversion secret sauce? According to LeBaron, it starts with asking one simple question: “Are you taking advantage of all the mechanisms available at your disposal to increase conversion on the page?”
“All of these things are increasing conversion—even just by a fraction of a percentage will pay big dividends at the end of the funnel,” LeBaron said.
3. Increase basket size
This essentially means making sure that consumers are spending more with you than they thought they would, or more than they did last time. Brands can do this in a variety of ways, LeBaron said.
“Things like subscribe and save, improved reviews, cross-selling, these are all ways for you to increase the basket size of your customers and get a better return on your investment at the end of the day,” he said.
How can I do all that?
Simply put: Invest more time and resources to growth. At Pattern, the expertise we provide to our brands is equal to having an additional 5 or 6 people on their team.
“All of those people that we provide are classically trained with Amazon, classically trained with many of these others retailers—Walmart.com, Jet.com—and they help our brands grow exponentially,” said Garrett Bluhm, Vice President of eCommerce and Strategy at Pattern.
Want to see how our eCommerce experts could help your brand grow and optimize your online sales? Set up a meeting with a Pattern representative below.