Wish lists are collections created by consumers in their individual accounts, containing the products they are interested in and have the intention to purchase at some point, but not right away.
Wish lists are one of the few cases in e-commerce where customers say exactly which products they want and do not have yet. Their manifested interest creates a valuable opportunity to sell and meet your client’s needs, but often, lists are underrated as a marketing tool.
To stimulate the use of wish lists you will need, first of all, to set clear objectives. People make lists for a reason and if they choose a store for it, that should be understood as a valuable opportunity. Think about what you can offer – benefits such as discounts, gifts and other advantages.
In addition to the traditional birthday and Christmas gift lists, noadays we have a handfull of thematic and collaborative events like baby showers, bridal showers, new home showers, lingerie, bar and so on. Being proactive and inviting the clients to make their gift lists in your store requires deep knowledge of the customer base and understanding of its life cycle. And this is only possible through data annalysis.
Now that you know why, you need to consider several variables in the development of the wishlist project. In addition to the necessary technology, such as integration with system of physical stores or stock, design and so on, there are other matters to consider.
Onsite customization: associating wishlists to a CRO project involving tests is important to understand the effectiveness of the project and also to point out what works and what is not performing well. The development of wish lists, as we mentioned, needs to be based on data. So to present them relevantly on the site you will also need to work with data.
Data collection: if youhaven’t been using the data you collect, it’s time to start. Wishlists will bring new imput on individual behavior such as interest, consumer preferences, wedding date, baby birth, and mailing lists of friends who buy gifts. The smart use of these data can bring more profit to the business.
Refueling: subsequent strategies to data collection may be numerous. After the baby shower list, for example, knowing the possible date of birth, you can start a refueling relationship ruler, delivering messages to parents about new purchases of clothing as the child’s growth, changing seasons and more.
Physical stores: if your brand has physical stores in addition to e-commerce, wishlists can be the resource you needed to join the two audiences. The list usually starts at the physical store, but giving the guests the option of purchasing the products both in the online store and the physical is a great initiative, which allows you to collect the data also of the person buying the gift.
If you already have data on your customer’s’ birthday, why not suggest to them to create an online wishlist via e-mail marketing? Many companies also use social media like Instagram and Pinterest to stimulate the creation of wishlists.
Offering wish lists is also a way to reduce cart abandonment rates for those who show interest in certain products but will not buy them at the time. The lists do a great job giving consumers an easy way to remember a desired item and, from the perspective of negotiation, showing suppliers the level of interest in their products that goes beyond sales.
Keep in mind that using wishlists your brand will gain new customers: the people who purchase the items as gifts. Remember to activate them after the purchase and keep the relationship cycle going. Take this opportunity to expand your base!
Do you want to know more about how wishlists can boost your business? Contact our team of experts!
Consulted sources: How to monetize wish lists What are wish lists and why are they important?