Multichannel marketing is a kind of marketing, which uses different channels to reach a customer. Such channels includes retail stores, web sites, mail order catalogues, or direct personal communications by email, letter, text message, or phone call. In multichannel marketing customers are involved into browsing, buying, returning and pre/post sale services. The objective of such kind of marketing is to make it easy for a customer to buy in the most appropriate way. As a result, companies providing multichannel marketing get more loyal buyers, attract new target audience and increase revenues. Being a relatively new trend, multichannel marketing for e-commerce already includes a lot of multichannel sale services & extensions for Magento. It relies on the same principles as multichannel marketing, but has a limited number of channels represented by different marketplaces and online stores.
Make your customers more interested in your e-commerce store and goods by showing them all the related products. Often, it is very convenient. Imagine the situation, when occasional visitor is dissatisfied with the specific product from your store: the price is too high, the color is not desired, or its functionality is not like your visitor imagined. But you have the substitute with lower price, desired color, or necessary functionality. Chances are you occasional visitor will leave you e-commerce store without any attempts to find this substitute. By using correct related products Magento extension, you can change the situation. You will automatically generate related products for the entire catalog of you web-store, so all the substitutes will be displayed on appropriate product pages. Below, we’ve gathered the most popular related products Magento extensions.
Abandonment of virtual shopping carts happens quite common. The abandonment rate for e-commerce retailers varies between 60% and 80%, and an average index is 67.91%. To find out shopping cart abandonment rate, you have to compare the number of abandoned shopping carts with the total shopping carts number. For example, there were 50,000 attempts to buy something from online store during the month, but only 10,000 transactions have been made, so 40,000 carts have been abandoned. It means that abandonment rate is 80% ((40,000/50,000)*100%=80%). But it is possible to decrease this index with the help of shopping cart abandonment Magento extensions. The best tools are described below.