Customer Research

A Key To Ecommerce Growth

August 01, 2024

Welcome to the Conversion Crunch Newsletter, its Ceaser again.

In today’s newsletter, we will go over the importance of customer research, and share some key blogs to help both your business and personal brand this week.

Tweet of the Day

  • Blog: Scalable Web Applications: Strategies for Efficient Growth and Performance Optimization (link)
    Building apps with scalability means they can grow with your business, dealing with more visitors, data, and storage needs easily. It's all about planning smartly and using efficient strategies to keep things running smoothly, even when there's a lot going on.

  • Clip: “Most people have a drastic underestimation of how much volume it take to be successful“ - Alex Hormozi (link)
    This short clip captures Alex Hormozi explaining the importance of volume and repetition in acquiring skills and becoming successful.

  • Blog: What Actually Is Personal Branding by Sam Winsbury (link)

    Personal branding is a marketing and brand strategy that allows you to guide people’s perception of your business and brand. In this blog, Sam explains exactly what personal branding is and whether you will need it or not.

  • Guide: Optimising your product display page (link)

    This guide will teach you how to improve your website’s product display page.

Customer Research: A Key To Ecommerce Growth

When you run an ecommerce store, there are 4 core metrics that you need to know about your business.

To learn what these core metrics are, you must answer these 4 questions:

  1.  How many people do you drive to your website?

  2.  What percentage of those people buy from you?

  3. How much do the people who buy from you typically spend on a single purchase?

  4. What percentage of those people who buy from you become repeat customers?

These questions highlight 4 specific core metrics:

  1. Total Traffic

  2.  Conversion Rate

  3.  Average Order Value

  4. Repeat Customer Rate

Core metrics are very important to increasing your total revenue, and growing your business.

The great thing about these particular metrics is that small increases in each of them can lead to even larger increases in revenue than you would expect.

For example, a 20% increase in each of these metrics can lead to a 73% increase in your total revenue. And that is some incredible growth.

Now, you don’t need the 20% improvement over night. You can spend 12 months with your team improving each core metric by 20%.

So what is the key to hitting those 20% improvements.

The answer is customer research. A lot of customer research.

CRO is not about whose website looks better or who has the best UI. It’s about making sure your customers feel that they are on the right website to buy the right product for them.

Your website needs to build trust with your customer, answer all their questions and make them instinctually feel safe.

When a visitor comes to your website, they want to buy from you.

They want to buy your product.

If you have an optimised website that makes them trust your brand, then you will always be able to convert the user into a paying customer.

Don’t give them any reason to doubt your product or your brand!

That just makes it more difficult to convert them.

So, research your customers. Understand them. Make them feel that they are at the right website. Then watch your core metrics improve by 20%.

Start your customer research today and unlock your business’ growth potential!

Quick Feedback

How Can I Help

  • To learn how to optimise your product page and increase your conversions, use this guide. It combines experience and knowledge gained from working with 50+ different ecommerce clients into a cohesive guide to help you optimise the revenue from your product page.

  • If you are struggling with your conversion rate or customer LTV, book a free discovery call with us to partner with us and scale your brand to 8 figures.

  • If you need help optimising your website with customer research, book a call with us, and we will take you through our brand discovery workshop to optimise your ICP, and implement our findings to improving your website and your revenue.

Hope this helps,

Ceaser