Business

How To Increase ECommerce Product Performance Without Increasing Marketing Spend

Published

4 years ago

January 25, 2021

Matthew Wiles

Dean DeCarlo, President and Founder of Mission Disrupt

Increasing online sales does not automatically require an increase in the marketing budget.

ECommerce companies often miss hidden revenue opportunities that are easily available. Implementing strategies to take advantage of these opportunities can lead to new company sales, by analyzing the most impactful metrics that organically increase product performance.

Conversion Rate Optimization is the practice of utilizing data analytics to run tests and increase onsite performance without increasing ad budget. Google analytics provides crucial first metrics to start with, before blindly testing new assets or applying content.

Landing Page Metrics

Conversions Rate: Ratio of customers that purchase vs. customers that visit a website. This crucial benchmark of performance provides insight into how changes directly impact landing page performance. For example, 1,000 users convert at a rate of 3%, which translates to 30 paying customers. If new changes are made to the landing page that results in a conversion rate of 4%, 10 more customers per 1,000 users will visit the website. Measuring conversion directly provides data on the adjusted changes showing an increase or decrease in performance.

Product Performance Metrics

Cart-To-Detail Rate: A metric that is often overlooked when measuring individual performance. This percentage includes data on users that have added a product to the cart after viewing the product page. If the Cart-To-Detail Rate is lower than average, immediately consider what may be causing it. Example issues include a sub-par product title, a bug, or product benefits that could be missing from the description, which is meant to convince a user to purchase. Focus on the actual products instead of the average to find the attributes contributing to the higher Cart-To-Detail Rate.

Buy-To-Detail Rate: Once the issues identified in the Cart-To-Detail Rate are fixed, the Buy-To-Detail Rate can be used as the ultimate benchmark of increased performance. Remember, even a 1% increase could result in a variety of lump sums in sales. If the data is displaying a decrease in performance, analyze the Check-Out-Behavior metrics.

Check-Out-Behavior Metrics: These metrics need to be checked on a weekly basis to ensure the eCommerce website performance is firing correctly across all six cylinders. Drops in performance can indicate cart issues that need to be addressed immediately. Problems such as slow loading times, lack of quick payment options (Venmo, Apple, Google Pay), or long fill-out times on customer forms, are all contributing factors that affect these metrics.

Billing & Shipping Drop Off: The percent of users that leave a website from the Billing and Shipping page. Understand what is causing the users to leave. For example, causes might include a lack of shipping options, broken discount codes, and forms without autofill for addresses. Focus on creating a fast and easy user experience.

Payment Drop Off: Indicates the users that leave a website during the payment input. A high drop-off percentage indicates that payment options need to be evaluated. The majority of users browsing online consists of mobile users. One-touch payment options such as Venmo, Apple, or Google Pay, are crucial in today’s digital age.

Review Drop Off: The last stage before the user confirms a purchase. The ratio will remain low if billing, shipping, and payment drop-off issues are tackled. Check that the pricing and discounts are clear and the submit order button is within view, to ensure users are aware they need to confirm the order.

Increasing product performance can be a tedious process, but the rewards are well worth it. These metrics can be used as the basis of your conversion rate optimization metrics and the additional recommendations can be analyzed in the order presented to make this a manageable process. Check out Dean DeCarlo’s Youtube series Impact Analytics Series. Visit: Missiondisrupt.com

Business

Private Listings by Harold X. Clarke: A New Approach to Fine Real Estate

Published

6 days ago

December 16, 2024

Matthew Wiles

Photo credit: Private Listings by Harold X. Clarke.

Byline: Andi Stark

Private Listings by Harold X. Clarke, a real estate platform operating across Hawaii, is rewriting how properties are bought and sold in the region. Unlike larger firms reliant on public listings and mass marketing, Private Listings’ strategy prioritizes personalization, privacy, and meticulous curation of ultra-high-end, off-market properties, including oceanfront estates, gated community residences, and architectural masterpieces.

Harold Clarke, founder of Private Listings, describes their method as one that rejects “cookie-cutter solutions in favor of understanding the nuances of both buyers and sellers.” This approach has resonated with ultra-high-net-worth individuals (UHNWIs) seeking refined and discreet real estate transactions.

The Hawaiian real estate market remains a hub for global investors, with the median price for a single-family home in the state reaching $900,000 in 2024, according to the Hawaii Association of Realtors. Within this competitive landscape, Private Listings is building up to be a trusted name for properties that extend beyond luxury into generational investments.

Challenging the Industry Norms

Private Listings deliberately avoids the conventions of large-scale real estate firms. By focusing on fewer, higher-value properties, the company ensures that each transaction is treated with the same level of care and confidentiality.

Public listing platforms, while effective for broader markets, often expose sellers to unnecessary attention or unqualified inquiries. For Clarke, this model is misaligned with the needs of UHNWIs. “Privacy isn’t a luxury for our clients—it’s a necessity,” Clarke explains.

This philosophy has led Private Listings to handle some of Hawaii’s most significant real estate transactions, including off-market properties valued at over $40 million. Its success is not measured by the volume of listings but by the depth of trust built with clients, many of whom return for subsequent transactions.

Adapting to Changing Client Demands

While Private Listings maintains a foundation of traditional practices, the firm also recognizes the evolving needs of its clientele. The global real estate market is increasingly influenced by concerns over digital security, with a 15% rise in data breaches targeting high-net-worth individuals in the past three years, according to cybersecurity firm NortonLifeLock.

To address these risks, Private Listings employs rigorous screening for potential buyers and uses secure platforms for communication and transactions. The firm’s “by invitation only” model ensures that clients remain protected from the pitfalls of public exposure. Clarke notes, “Our goal is not just to sell homes but to create an environment where clients feel safe and confident during every step of the process.”

The Human Element in Real Estate Transactions

Despite advancements in technology, Private Listings firmly believes that real estate transactions cannot be reduced to algorithms or automation. Unlike firms that depend heavily on online data aggregation, Private Listings emphasizes human connection and insight.

The company’s sales strategy integrates personalized client interactions, in-depth market analysis, and years of experience navigating Hawaii’s unique real estate ecosystem. Clarke’s background in managing family assets and his global perspective is significant in shaping this essence.

Future Directions for Private Listings by Harold X. Clarke

As Hawaii continues to attract global attention, Private Listings aims to expand its influence within the state while maintaining its core principles. The company is currently developing a new platform to streamline services for UHNWIs, blending their demand for discretion with seamless access to Hawaii’s finest off-market properties.

Additionally, Private Listings is strengthening its ties with local communities, recognizing that sustainable growth benefits both the company and the islands’ ecosystems.

Private Listings by Harold X. Clarke has set itself apart in Hawaii’s real estate scene by moving away from the typical mass-market approach. Through a mix of traditional values and modern sensibilities, the firm continues to define what it means to transact ultra-high-value properties with integrity and care.