Customer Service Gripes Revealed In New Survey

28 November 2020

Are you an eCommerce business looking to address the problem of abandoned carts on your platform?
Do you know how you can ensure that more people close the sales and move cart items into final purchases?
Have you tried using some strategies like offering coupons and discounts to sweeten the deal?

According to a new and very important study made by Feefo, it has been found that there are more than 79% of customers abandoning their carts and not closing purchases on e-commerce platforms. The question, which many eCommerce-based companies are asking is- how can I change this?

In this article, we speak to leading digital marketing specialists and ask them about the various strategies, which can be used to ensure that the items are moved from the cart into the final purchase.

Why Consumers leave Items in the Cart According to the Feefo Study?

The survey is very important to read and understand if you want to improve the sales and revenue generation for your e-commerce business.

According to Feefo, most consumers leave items in the cart because of one specific reason- High Prices! In most cases, the prices displayed on the product pages are exclusive of additional costs like taxes, shipping charges, and in some very weird cases, packaging!

According to the study, it is time for eCommerce businesses to start becoming honest and transparent in showcasing prices to the consumers on the product page itself. This may remove the entire magnet strategy of-

lower pricing,
moving to the cart
seeing the higher pricing
however emotional investments and time
ending up with the purchase

Ecommerce businesses need to realize that digital audiences have started to move beyond just baits and value transparency on digital platforms.

The study pointed out specifically to High Shipping Costs as the primary impediment to abandoned carts. Taxes too are something, which most of us take into consideration. However, additional shipping expenditures are still not acceptable to the vast majority.

How the World’s Best Ecommerce Sites Handle the Abandoned Carts Issue?

According to business experts at the best-performing sites, the need of the hour is to help customers at this stage with a small incentive. In other words, customers are already through 80% of the things a business needs to close a sale. At the cart stage, what you need is a small push, which can be offered by brands to the customers.

Not only will this result in the final sales happening, but it will also boost the image of the brand in the eyes of the customer in a positive fashion.

Some of the best businesses go for the following strategies-

Using promotional codes for both new and existing customers.
Taking away the Shipping Charges for customers and showing the discounted price.
Creating personalized packaging and offering incentives to buy.
Having multiple shipping vendors on the business and comparing prices.
Rewarding the customer in other ways (social media shout outs).

Why Building Positive Business Relationships matter for Ecommerce Businesses?

Building a positive brand and making the customer feel special is critical for the success of your e-commerce business. This means that e-commerce businesses need to invest in their communication. In-app messages, email newsletters, WhatsApp communications, etc. are good ways to ensure that you are always having an open channel of communication.

By valuing your existing customers, you will be able to win repeat purchases for your business. Your existing customers can also spread a positive word about your brand to their family and friends, leading to more sales and revenues.

However, taking care of the costs is the number one thing, eCommerce businesses should look to address at all costs. If eCommerce businesses are able to bring their operational costs down, they will be able to further incentivize sales.

You can view the Full Study and Report of the excellent Feefo Study below:

Source: www.feefo.com

How do consumers think and behave across the purchase journey? [Infographic]

Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Why Leadership Is A Great Skill To Have Within The Workplace?

Whether you run a non-profit, a branch of government or a for-profit business makes no difference – you will always need some vision for your organization’s future. You’ll also need leaders to help plan and carry out your vision. Leadership has a huge role in business, from motivating others and any form of collaboration which are completing necessary tasks to determining which tasks are required in the first place. So, what exactly is ‘good leadership '? There are many names for leadership synonyms. But that does not mean your executive leadership council is going to help. That’s a seriously challenging and subjective question to answer. In the business world, leadership can take many different forms. Some career paths necessitate leadership as a fundamental component of their job description. For example, CEOs are all on the top strategist's list of an organization – directly, they are the leader of their company – at the highest levels. However, senior leadership skills can be helpful in various organizational positions, even beneath those high-level positions. Why Is Leadership Going To Be A Great Learning Subject? Many believe that leadership can’t be taught and that it is something you are born with. That couldn’t be further from the truth. Some courses, such as the Spalding University EdD in Leadership program, help individuals develop key skills to become great leaders. For example, the international leadership of texas comes in a variety of styles. Some prefer to dictate to the employees, while others also prefer you for a more collaborative approach. This is a good idea that encourages your employees with their creativity: if they have a great idea that could increase the company’s revenue, why not use it? Facilitative leaders, on the other hand, delegate the majority of tasks to their subordinates and spend time providing their employees with the tools they need to excel in their positions. The company culture is determined by the specific leadership style of the executive in charge. Previously, the emphasis of leadership was on speed and flexibility. However, leaders must be agile and resilient in this ever-changing landscape where everything comes under the global focus, digital necessity, and social-political shifts are expected. It is critical in a constantly changing business environment to recover quickly and stay the course in the face of repeated challenges. CEOs who can do this are emotionally intelligent and can soon come to terms with complex shifts while assisting others in moving forward to win. In addition, they stay current in business leadership philosophies and ideas, which allows them to keep on top of what is happening in their industry. Benefits Of Good Leadership: A company’s leadership is felt throughout the organization and can mean the difference between success and failure. We’ve compiled a list of reasons why strong leadership is essential in business and the advantages of having it in place. You can read more to understand leadership training, and its importance better. 1. Values And Visions Most companies envision where they want to be in the future and how they want to be perceived by customers, stakeholders, and the public. Unfortunately, both of these can get lost in the day-to-day activities of running a business. Still, a strong leader will remind employees of an organization’s vision and values and remind them to incorporate them into their daily actions. Many times due to autocratic leadership, the leaders often lose their morals and visions, which is serious trouble. 2. Morale Employees are aware of poor leadership. They are aware of when they are not respected or appreciated. They also recognize when a company doesn’t care about its employees and will cut corners for profit or power. Morale suffers as a result, and there is less productivity, higher turnover, and a loss of faith. On the other hand, good leadership respects and values members of staff as valuable employees and people. As a result, high-morale workplaces have higher productivity, happier employees, and lower turnover. 3. Inspire A leader’s ability to inspire is essential. Take politicians, for example. There are some of the most successful and famous candidates there who are spending their campaigns talking to the people, sharing speeches, and inspiring the communities to vote. They are also going to understand what messages are resonating with the voters and what are going to be valued. Leaders in politics understand how to bring people together with inspired action. They don’t always use their power for good, so leadership inspiration isn’t the only quality that good leaders possess. 4. Creativity Team leaders can also foster a creative environment in their organizations. While leaders help others see the business’s vision, they can also add flexibility to how employees carry out their tasks. This can aid in generating new leadership insights into how to carry out tasks, decide and deliver on projects, and improve efficiency and productivity. Conclusion It is also said that with or without leadership, all other types of aspects which are related to the business are dormant. Strong leaders also can help an organization maximize productivity which will also achieve business goals, while weak leaders can harm productivity and jeopardize the company’s health. Leadership is not a one-size-fits-all trait. Instead, many of the different elements must be presented for organizations and leadership to be considered adequate. It is also important to remember that there are numerous leadership styles. Just because one manager is upbeat and another is refined does not mean that one is more effective than the other. Read Also: Why Is Mentoring Important In Leadership? Five Essential Qualities That Define Great Leadership Develop Your Organizational Leadership Skills with an Associates of Science Degree

International Business Degrees in Today’s Global Marketplace

Globalization, the international business trend toward greater integration among the world’s economies, has recently hit some bumps in the road. In fact, one buzzword you hear nowadays is “globalization.” Brexit, the pending withdrawal of the United Kingdom from the European Union, has created widespread uncertainty in global markets, as has President Donald Trump’s trade war with China, threats of tariffs against other countries, and repudiation of international trade agreements. Why International Business Degrees are becoming Important? Yet some experts say this is good news for those studying international business, whose specialized expertise will be even more critical in a more volatile, less predictable world economy. Great international degrees like NEIT associate degree programs help confer a wide range of skills on students. There are aptitudes, experiences, and expertise that leading employers around the world are looking for. After students graduate with these top-notch degrees, they are absorbed into different leading and managerial positions by businesses all over the world. Taking the long view, historians say globalization has been around since the third millennium BCE when Sumer began trading with the Indus River Valley. It expanded exponentially with the collapse of the Soviet Union and the invention of the Internet in the 1990s. So, don’t expect it to go away anytime soon. Despite some hurdles thrown up by current events, it’s probably inevitable that the world’s economies will become more connected in the future and not less. And this will lead to a wealth of opportunities for experts in international business. The Benefits of Taking up International Business Degrees International business studies, from the associate degree to the Ph.D. level, prepare students for a broad range of global business interactions, including: Imports and exports; the sale and movement of goods across international borders, like the sale of Chilean wine in the United States. Manufacturing, R&D, sales, and distribution in foreign countries, like the manufacture of iPhones in China. Foreign licensing and franchising of goods and services, like the opening of Taco Bells in Costa Rica International business education typically begins with a foundation of general business fields, including finance, economics, management, sales, marketing, etc. But international business also requires knowledge of the diverse global marketplace; of differing laws, customs, languages, and cultures; of international finance and banking; of import/export policies, trade controls, and the effects of trade on domestic and foreign markets. Some Contemporary topics that International Business Degrees Cover Other topics emphasized in international business education include the challenges of global marketing, management, and supply chain logistics. Students may receive training in specialized software and data analysis, ethical and cultural issues, global politics, psychology, public speaking, and entrepreneurship. In fields related to international business, associate’s degrees generally take two years, bachelor’s degrees take four and master’s degrees usually take two, although a growing number of universities are offering intensive one-year degrees. Doctoral programs tend to take three to six years, depending on whether they are undertaken full- or part-time. The Standard Time for the Completion of International Business Degrees Online programs and hybrid programs (a mix of classroom time and digital platforms) are offered in most of the fields relevant to international business, and these are expected to expand considerably in the years ahead. As in many business fields, internships and other pre-graduation work experience will give international business students a big boost in the eventual search for their dream job. Major advantages can also be gained by learning a second language — especially Mandarin Chinese, Spanish, German, Arabic, and French, though English remains the lingua franca of global business. Career Options to Explore with an International Business Degree A wide variety of career opportunities exist for international business specialists, including but by no means limited to: International economist International trade analyst International management consultant International human resources manager International operations manager International marketing director International sales rep Import/export specialist Supply chain manager Foreign investment adviser Employers of international business grads include multinational firms, technology companies, import/export firms, oil companies, transportation and shipping companies, banks, hotel chains, NGOs, and more. You may find employment in your home country with a firm doing business abroad, you may be based in a foreign country, or you may become a frequent flyer who travels back and forth between a domestic headquarters and overseas branches. So, in addition to that elective course in global supply chain management (not to mention that introductory Mandarin class), it wouldn’t hurt to make sure you have a current passport. Read Also: Why Your Business Should Care About Social Responsibility 4 Business Leadership Skills For Business Success

Why Registering a Company Online Now Becomes Easier

Are you looking for business opportunities in Singapore? This is an excellent choice because Singapore ranks 2nd in the world, in the ease of doing business. Singapore is also one of the most advanced financial centers in the world, acting as a headquarters for thousands of global brands. The ease of doing business starts right at the beginning stage of registration. Foreigners can easily register a company in Singapore, as well as get an employment pass. Singapore has outdone other competitors in Asia with entirely paperless business registration. Company registration is done in 1.5 days if the documentation for registration is right. Benefits of Online Registration Register from anywhere in the world You don’t have to come to Singapore to register a company. You can submit all the documentation online. Better yet, you can use a company incorporation Singapore service to register your company. This service is offered by a team of professionals who are conversant with the documentation and procedures required to register a company. Affordable Paperless registration translates into lower costs for registration. Paid-up capital is only SGD 1.00 which is very friendly for small businesses. Fast Online processing has allowed cutting short the duration needed for company registration to 1.5 days. You can start your business operations within a week after landing in Singapore. Who Can Register a Company in Singapore? Both Singaporean nationals and foreigners are allowed to register private limited companies in Singapore. Shareholders can be individuals or companies. Singapore is one of the few countries that allow 100% foreign shareholding. However, bankrupt people and those with criminal backgrounds are not allowed to operate businesses in Singapore. A foreigner who wants to register a company in Singapore should; Have at least one director who is a Singapore resident. This could be a Singapore citizen, or a person holding a permanent resident visa, or someone holding an employment pass. Hire a filing service for company registration. This is a team of professionals, usually lawyers, accountants, or company secretaries. They are familiar with the documentation and procedures needed to register a company correctly and in a short time. What Are the Procedures in Company Registration? Step 1 – Name Approval Companies in Singapore are registered by the Accounting & Corporate Regulatory Authority (ACRA). You should submit at least 3 names for approval. Guidelines for company names include; No vulgar or offensive wording The name should not already be in use by another entity or be part of another company’s trademark. If the name includes words like bank, media, finance, or educational it shall require further approvals by the bodies regulating these sectors. ACRA reserves the approved name for 60 days, with a further 60 days extension. Step 2 – Document Preparation The required documentation for a private limited company registration includes; The name approved by ACRA Description of a maximum of 2 intended business activities in Singapore The registered office address Singapore or the physical address of the company offices. Consultants can operate from a residential address but must show landlord consent. Particulars of shareholders. Foreign shareholders are required to supply a copy of their passport and proof of residence in their country. Company shareholders must submit a copy of their Articles of Association and Memorandum of Association. Particulars of the Ultimate Beneficial Owners. These are shareholders with more than 25% ownership in any level of shareholding Particulars of directors Particulars of a data protection officer to comply with the requirements of the Personal Data Protection Act 2012 (PDPA) Particulars of the company secretary. This role should be appointed within 6 months of registration. The company secretary can be a filing agent. This is often offered as part of the package in business registration services. Paid-up capital. The initial paid-up capital is SGD 1. This can be increased after registration KYC documentation Singapore has strict anti-money laundering laws, which require Know-Your-Customer guidelines to be followed when registering a company. Individuals must show proof of nationality, proof of residence, and describe their professional or entrepreneurial background. Corporate shareholders must show a Certificate of Incumbency if they are offshore companies registered in places like the Caymans. Step-3 Submitting the Documents ACRA maintains an online portal on which the documentation is submitted for registration. The Certificate of Incorporation is generated electronically within 1.5 days. But company registration can take as long as 2 months if further approvals are needed from industry regulators. Why Use a Business Registration Service? Get a full corporate kit – You get a package that helps you start operating as soon as possible. This includes the Certificate of Incorporation, Company stamp, Memorandum and articles of Association, and the minutes of the first board meeting. Help in the processing of an employment visa if you want to relocate to Singapore Help in opening a corporate bank account Singapore is one of the most attractive investment destinations in the world. You get world-class financial services, good infrastructure, and a stable business environment. If you are looking for investment opportunities, work with a business registration service for quick company registration. Read Also: How to Register Your Company in China Fast

Customer Service Gripes Revealed In New Survey

Why Consumers leave Items in the Cart According to the Feefo Study?

How the World’s Best Ecommerce Sites Handle the Abandoned Carts Issue?

Some of the best businesses go for the following strategies-

Why Building Positive Business Relationships matter for Ecommerce Businesses?

Why In-Company Training Results in Better Employees

Top 10 Zoho Alternatives in 2020 For Your Business To Adopt

Tags

Ariana Smith

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

Leave a Reply Cancel reply

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Related

Why Leadership Is A Great Skill To Have Within The Workplace?

International Business Degrees in Today’s Global Marketplace

Why Registering a Company Online Now Becomes Easier

Customer Service Gripes Revealed In New Survey

Why Consumers leave Items in the Cart According to the Feefo Study?

How the World’s Best Ecommerce Sites Handle the Abandoned Carts Issue?

Some of the best businesses go for the following strategies-

Why Building Positive Business Relationships matter for Ecommerce Businesses?

Share this Article

Why In-Company Training Results in Better Employees

Top 10 Zoho Alternatives in 2020 For Your Business To Adopt

Tags

I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

Leave a Reply Cancel reply

Popular

Follow Us

Recent

Related