Turning your Retail Website into an Online Profit Center
Posted on Tue, Nov 22, 2011
Maximizing retail and media.
With retailers evaluating new ways to make their sites more profitable, Searchandise Commerce president and CEO, John Federman, shares some ideas, just in time for the holidays.
The following is an excerpt from Federman's piece in iMedia Connection:
Retailers are always looking for ways to increase their revenue stream in-store and online. If back-to-school was any indicator of how the 2011 holiday season will play out, retailers know that research, not just purchases, is happening on their sites. This leaves retailers asking, "How can I improve my site for the holiday season?" There are many answers to how retailers can optimize their sites for the holiday season, and frankly, there really isn't anything new. The familiar advice focuses on free shipping, smoother checkout, and how to reduce cart abandonment. Retailers have heard it all before.
But what if I told retailers about a way they could turn their retail site into an online profit center this holiday season with no upfront cost, minimal IT support, and by leveraging their existing site technology? What if I told retailers this could be done by monetizing the traffic that is already coming to their site? I bet it would make for a very merry Christmas.
This new opportunity is called "retail media."
Click here to read the rest of the article.