Online Product Configurator - Perfect Tool to Improve Conversion Rate and Profit margin
Since online shopping is all about visual experience, you gotta make it superior if planning to start one. To achieve that, you need to invest in an online product configurator. Let us tell you why.
The only drawback online shopping has is giving the real feel of products to the customers. In offline shopping, a customer gets to see, touch, feel, and experience a product before buying which online shopping fails to provide and hence is creating a lot of impacts on the buying behavior of the customer. But, technology is advancing and now one can easily experience a product online too. Thanks to remarkable innovations like - Augmented Reality (AR), Virtual Reality (VR), 3D Product Configurator, and others, customers are now able to feel a product just like offline which means, online shopping is beating offline in this race too.
Customers Need More
Ecommerce has been evolving since the time it came into action and today online competition is no less than a battlefield with every other person starting a store online. Due to such a boom in online business, consumers too, are always in search of something unique. And hence keep on migrating from one site to another and to meet their needs, a store owner has to invest in the latest technologies that keep customers stick to the business. One such latest innovation is Online Product Configurator.
What is an Online Product Configurator?
Ecommerce has become more about delivering personalized experiences. Even customers are looking for personalization and customization in an online store more than the products. Why? Gone are the days when customers used to simply shop whatever is available on an online store. Today, they expect to experience a product just as much as they do while offline shopping. And that has become possible with the help of the Product Configurator Software.
Five reasons you should use an online product configurator to boost sales and increase profits.
The beneficiaries: For any business, a product configurator is beneficial for the customers, the sales and marketing team, and the developers.
Everybody is looking for a unique solution for their needs. Your business may have a solution for every kind of requirement. But it is overwhelming for the customer to go through every solution. It probably will drive away customers. A product configurator will guide the customer to create their solution without being overwhelmed with numerous solutions.
Similarly, It becomes more manageable for the sales team to negotiate an offer with the client. Also, the developer doesn't have to upgrade or augment numerous product pages that may end up in an utter mess.
Online revolution: An online product configurator tool is a revolution in this ever-evolving print industry. Changing customer needs is handled better with a product configurator.
Confusion eliminator: Online product designer software offers a streamlined process as it eliminates chances of confusion. The online product configurator is rule-based and hence validates inputs before relaying the data to printers. That avoids any mishaps.
Live pricing efficiency: A client's requirements are dynamic. These changes need to be adjusted in the quotation and pricing as well. And to do it manually is a cumbersome task. However, a configurator will take inputs for the client and calculate sales quotes accordingly. That saves the printers from the hassles of pricing.
Meeting timelines: An online product configurator is enabled to calculate costs and estimate the exact date possible for dispatch. That helps in serving the customers efficiently.
Decrease in buyer remorse: Customers are customizing the products exactly how they want them. And hence, the chances of returns and disappointments are less. Also, this tool assures that the printers provide the exact order.
Let us look at some data to understand the profitability of this tool.
As per recent studies, 59% of the customers say that they will stop buying from a brand if the competitor brand offers a better user experience. Similarly, 76% of people have said that they are less likely to return a product and buy again if the brand can provide clear and accurate product images. Additionally, 1 in every five customers is willing to pay 20% more for a personalized product.
Looking at the data above, we can infer that for the existing 8% average profit margin of the industry a product configurator adds to the profit gains. A recent report shows that the contribution of such tools to sales and profit is close to 80%. Subsequently, when we look at the data of conversion rates, it too sees a spike of 50%. That implies an increase in customer base and customer loyalty.
Benefits & Importance
Providing your customers just traditional images and videos of products can kill your sales. Visuals attract and with a more powerful visual experience you can draw your customers towards you like a magnet. In short, with a product configurator, you can give a fully immersive shopping experience to customers by bringing products to life and connect with them on a deeper emotional level.
The product configurator is fun, interactive, easy-to-use, and convenient as it helps customers save the time that used to get wasted in browsing catalogs of products, and since its fun to play around with the 3D images of the products, more customer data will be generated which will help you convert potential customers to a buyer in no time.
An online product configurator increases digital footprint, thereby enabling better customer engagement. Every time a customer visits your digital store they are likely to complete a purchase resulting in increased conversion rates.