Effective ecommerce search accounts for roughly 40% of business revenue.
And it does more than that.
In addition to improving customer experience, delivering highly-relevant products, and helping you sell more, ecommerce search has significant cost-saving benefits for businesses.
How?
Let’s figure it out.
It keeps shoppers on your website for a longer time
When a customer lands on your website, you have less than 2 minutes to make him find what he was looking for. If he doesn’t find it, he will immediately abandon your e-shop and head onto competitors’ websites.
And that translates to lost revenue.
The longer you keep a potential customer on your website, the more likely the conversion rates at a lower price.
Make sure your ecommerce search delivers the products the person is looking for and provides enough information (key for making a buying decision).
Boosts conversion rates and average order value
Another way ecommerce search can reduce business costs is by increasing your site’s conversion rates and average order value.
Conversion rates on e-shops that use ecommerce search can be up to 50% higher than the average.
This means that site search can help you generate more revenue from the same amount of traffic.
Besides, ecommerce search can also increase your average order value by showing relevant and personalized recommendations, upsells, and cross-sells to your customers.
For instance, if a customer searches for a laptop, you can show them related products such as laptop bags, mice, keyboards, etc.
This strategy drastically reduces business costs for spending additional budget on advertising.
Decreases marketing costs
That being said, ecommerce search can save lots of business costs by decreasing marketing budgets.
Analysis of users’ search queries helps businesses to identify the keywords and phrases that customers use to find their products.
Later, businesses can apply this information to optimize advertising campaigns to make them more targeted and effective. Ultimately, highly targeted ads can drive more sales with a lower budget.
Of course, a fast and accurate ecommerce search can improve your user experience and reduce your bounce rate. That serves as an extra benefit for better SEO rankings, as this signals to Google that your site is relevant and trustworthy.
Improves the accuracy of marketing decisions
An effective, AI-driven ecommerce search collects search queries, purchase intent data, and market trends.
Getting back to your search engine monthly data can help you understand what your customers are looking for, what they like and dislike, and what their preferences are.
Businesses can use this data to optimize their product catalog, pricing, merchandising, and marketing strategies in the short term.
In the long term, ecommerce search helps businesses to track market trends and customer behavior changes over time.
For example, marketing specialists can identify trending products, popular keywords, and the most often-used filters. This can help businesses stay ahead of the competition and predict and adapt to changing customer needs.
AI-driven ecommerce search - one of the wisest business investments
Ecommerce search is no longer just a nice-to-have feature; it is a must-have feature that can help you reduce your business costs in multiple ways.
A well-performing ecommerce search can empower businesses to thrive in this highly competitive ecommerce landscape.
If you are looking for a best-in-class ecommerce search partner that can offer all these cost-saving benefits and more, look no further than LupaSearch.
This AI-powered ecommerce search provides fast and accurate results that match your customers’ intent and preferences.
It also offers features like autocomplete, spell check, synonyms, filters, facets, recommendations, personalization, and more to enhance your customers’ shopping.
Request a free demo today, and save on those business costs.