Wishlists are not just for ecommerce giants. They offer a variety of benefits to both customers and business owners, making them a win-win feature that every online retailer should incorporate into their web store.
Reduce abandoned carts
Offering wish lists is an effective way to reduce shopping cart abandonment and fulfill sales from customers who showed intent but didn’t end up purchasing.
There are numerous times when a customer simply wants to save a product for the future, rather than purchase it in that moment. Make sure that your customers can do this by adding a wishlist function to your website, this will help you reduce abandoned carts.
Wishlists and mobile technology
As the number of shoppers using mobile devices to research and order online continues to grow, wish lists will become more relevant to the ecommerce experience.
Retain leads
Wish lists are a middle ground between purchasing and forgetting: oftentimes, shoppers aren’t ready to order, but want to remember the product and/or store for the future. Wish lists can encourage users to sign up for an account who wouldn’t have otherwise.
Grow word of mouth and gifting
Regardless of what online marketing trends are popular at any given time, word of mouth will always be the one of the most effective. By making wishlists shareable you create an easy way for your customers to recommend specific products.
Shopping online for friends and family is simpler with wish list functions. Once a wish list is complete, the creator can send it to friends and family in anticipation of holidays, birthdays or life events.
If a consumer is unfamiliar with an e-shop’s products and would like to buy an item as a gift, he or she may not know where to start. Rather than walking into a store and discussing options with a sales representative, these buyers can refer to wish lists on the website to better understand what items they should be purchasing.
Track your customers desires!
Wishlists allow your customers to window shop without restriction. Analyzing the contents of all wishlists on your e-shop can give you insight into the products that your customers find most appealing.
This information can be used to adjust pricing or stock levels, create promotions or look for similar products that complement the type of things that your customers are showing an interest in.
After customers add items in their wishlist, you can periodically remind them of these products via email. Also, if one of their wishlist items goes on sale, you can send them an email with a coupon for it.
Another advantage of having this functionality on your website is that it helps you cross sell more effectively. When you know what your customers want, you can promote other closely related items.
Act on buying signals
Consumers are flooded with marketing messages every day. Their inbox quickly fills with unread emails, and banner blindness causes them to ignore most ads they see on their social feeds. Personalized marketing is a strong weapon to use in this fight to recapture your website visitors’ attention.
Wishlists offer invaluable information about a potential customer’s product interests that let you create highly tailored, personal marketing messages.
Using personalized e-mail alerts makes shoppers feel in control because they get alerts for the items they really want.