After all the effort and expense retailers go through to drive traffic, attract shoppers and have them make a purchase, one of the biggest obstacles to overcome is getting them to buy and checkout successfully. When 82% of your potential customers just look around and leave and 76% create a cart but abandon it later, it leaves you wondering about what’s going wrong.
So why is the typical e-commerce conversion rate less than 3%? What is stopping consumers from making a purchase? It all goes back to intent—what customers actually need to follow through on a purchase; which is exactly what Metrical strives to uncover and provide.
You constantly hear from retailers claiming they listen to their customers, but the data tells a different, somewhat damning story. When 86% of retailers believe they are providing their customers with a personalized experience and only 8% of the customers feel like they are receiving one, there is a major disconnect. And if they’re wrong about this, what else are they missing?
The fact is, if you can’t determine your customer’s most basic intentions, the odds are you’re missing all kinds of other behavioral and buying signals. Understanding and acting on shopper’s behaviors provides a data-driven way to boost revenue and customer enjoyment while driving end-to- end efficiency.
That behavioral or ‘intent data’ enables Metrical’s AI-based technology to adapt in real-time and to deliver individually customized shopping experiences. Engaging with those who need assistance while not interrupting those who don’t – all without using personal information (PPI).
At a bare minimum, if Metrical is able to help you decrease cart abandonment by just 1%, then you could earn between 5-10% of new revenue. And most of Metrical’s retailers see a 10-15% improvement in purchase rates. So regardless of your particulars, the math is on your side.
The TL;DR is this – you can continue throwing good money away, hoping that your customers are not the norm or you can take a look at this white paper and learn more about how you could utilize Metrical’s technology to boost your earnings and customer retention today!