Helping You Create MORE Commerce 
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Posted by: Scott: Monday, October 17th, 2011 | 
Announcing: Time2Buy!
When you spend 5 years managing conversion tests on large e-commerce websites you’re bound to have a breakthrough or two. When we test those breakthroughs on the websites of many online retailers, and observe that they consistently increase conversion rates, we build software and make it available on a pay-for-performance basis.
Time2Buy, new hosted conversion improvement software available on ConversionsOnDemand.com, is one such breakthrough.
It started with a simple question: Why?
More specifically: Why do 98% of site visits fail to result in a sale? Often the answer has a lot to do with a site’s usability and design, but there’s another factor that’s commonly overlooked…
Motivation
Largely speaking, the shoppers you’re converting into sales now are very motivated buyers. But how about everyone else? How do you increase the motivation of shoppers who lack motivation and are on the fence?
Take Control
Time2Buy enables you to take control of your conversion rates by giving you the power to motivate on-the-fence shoppers with a time-sensitive offer that expires in minutes, not days.
Send More Shoppers Rushing Through Your Cart
Once a shopper’s browsing behavior “triggers” an offer from Time2Buy they see a widget like this on the bottom corner of their screen that gives them an incentive to buy immediately:
The time they have to redeem the offer ticks away, and will be visible on every page on your site including your cart. You control the time the shopper has to complete a purchase, what their incentive is for doing so, and which items will be eligible for a discount.
Results
Here’s the aggregate data from conversion tests we’ve run on 5 large online retailers:
+25.90% lift in conversion rates when triggered
+14% lift in site-wide conversion rates
+17% increase in revenue per visit
That’s right. When shoppers actually triggered an offer from Time2Buy, they became 25.90% more likely to make a purchase! These results will vary from store to store, and while it’s not guaranteed that Time2Buy will increase your conversion rates, the data above was observed consistently across 5 large online retailers who tested Time2Buy.
Optimal Trigger Settings
Merchants are finding creative ways to use Time2Buy, and “what’s optimal” will differ for each store. For example, some merchants have observed an incredible increase in conversion rates and sales by triggering Time2Buy to all shoppers who visit a single product page on their site. We never envisioned the software to be used this way, and while we don’t recommend it, the anecdotal feedback we’ve received so far is very positive!
More commonly, merchants tend to trigger Time2Buy after a shopper accrues 3 product page visits. These merchants usually give shoppers 10 minutes to complete their sale, and a discount between 5% and 10%.
Try It Now – There’s No Risk
We’re offering free setup of Time2Buy for select e-commerce platforms, along with a limited 15-day free trial for new users. You must sign up on or before October 31st to take advantage of this special offer. See site for other conditions.
Please go here to learn more and to sign-up.
P.S. Here are some answers to frequently asked questions:
Q: How do shoppers take advantage of the special discount?
A: The special discount will be applied if the shopper checks out in time, automatically. Our software will automatically load a coupon code setup by the merchant that corresponds to the discount.
Q: What’s the cost?
A: A small percentage of the revenue associated with the coupon code that’s configured by the merchant.
Q: I already promote site-wide sales on my site, why should I promote an extra discount?
A: In our experience, site-wide sales often do not go a long way towards motivating on-the-fence shoppers to buy. Often shoppers simply do not pay attention to site-wide promotions. Time2Buy’s patent-pending countdown timer, however, increases the odds that shoppers will see and be motivated by your special offers.
In addition, since a shopper can only take advantage of one coupon at a time, they will not be able to accrue multiple offers. Our method of triggering incentives to shoppers has been so effective that many merchants find they can give a smaller discount to merchants than they would normally give, in a way that’s miraculously more motivating to their shoppers.
Q: Can I exclude particular items from receiving a discount?
A: Yes, you do this when you configure your coupon in your store manager.
Q: Is it possible that I will be giving away discounts and paying you a fee for shoppers who would have purchased anyway?
A: Yes. In fact, depending on how aggressive your settings are, it’s very likely. Based on tests we conducted on 5 larger online retailers (see graph below), we found that the overall conversion rate impact more than makes up for this. In addition, since you have control over which browsing behaviors will trigger Time2Buy, you can create conservative settings that enable you to focus your offers on unlikely buyers.
Please do keep in mind that Time2Buy is configured to not display offers to shoppers who exhibit browsing behaviors before triggering an offer from Time2Buy. For example, if you scheduled Time2Buy to trigger an offer after 3 product page views, and a shopper presses “Add To Cart” before triggering Time2Buy, the shopper will not be able to trigger an offer from Time2Buy even if they surpass 3 product page views.
There’s no risk to using Time2Buy. Try it free for 15-days, and continue using it to increase conversion rates and sales this holiday season! You will also benefit from continuous enhancements that will give you even more power to convert more browsers into buyers.
