A new study for the DMA reveals that online retailers are moving away from "cool" new ideas and returning to the basics which are more likely to actually bring in profit.
After nearly ten years in the online marketplace, retailers are at last getting back to basics and focusing on things that build the bottom line: for example search technologies, product enhancement features and customer service. They are paying less attention to features like building communities, which do not always bring a solid return.
This is revealed in a new survey conducted by Chicago-based the e-tailing group, inc., for the Direct Marketing Association. The top ten things that online retailers are doing to build their bottom lines are:
- Providing detailed descriptions of products and product categories: customers need this in order to make a buying decision.
- Using interactive technology.
- Keeping the number of clicks needed to buy to a minimum.
- Communicating with customers via targeted e-mails and responding accurately and quickly to their queries.
- Providing search technology that allows customers to search by multiple factors (for example, product and price).
- Offering relevant cross- and up-sells throughout the site.
- Offering timely gift services.
- Providing real-time information about product availability and order status.
- Providing promotional offers that don't compromise profits - for example, making free delivery conditional to order size.
- Integrating multi-channel efficiency for customer convenience and saving costs.
The study can be bought from The DMA Online Store for US$195 (DMA members) or $395 (non-members).