To be effective, an online shopping Web site needs three elements working to your advantage:
- A reasonable conversion rate: Measured by the percentage of orders generated per visits to the site.
- Effective merchandising: Measured by your average sale amount.
- Traffic: Measured by the number of unique visits.
To improve the effectives of your site, look for ways to cross sell and up sell. Make purchase suggestions: Since you're buying that, you might also want this. Try different pricing strategies such as grouping products together as a package deal. Use your advertising, collateral materials and publicity to drive more people to your Web site.
Lonny Kocina is the CEO and Founder of Media Relations Agency which has been in business for nearly 35 years. During that time, Kocina also founded and sold two other businesses: Mid America Events and Expos, and Checkerboard Internet Services. Prior to that, Lonny worked as a marketing director for Investment Rarities Inc., a company with sales over 4 billion dollars. Kocina has also been a long time member of Vistage International which is a CEO peer mentoring organization. He was also a volunteer marketing mentor for Junior Achievement and the Carlson School of Business. For fun he has taught Principles of Marketing at the college level, and his recent book, the “CEO’s Guide to Marketing” is an Axiom Business Book silver medal winner as well as an Amazon bestseller.
Lonny likes to kid that his third grade teacher may have summed him up best with a note sent home on his report card. “Lonny is a daydreamer and he’s getting worse each day. He complains of a stomach ache a lot and I don’t think he likes school much either.”
