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[Guide] Listing page optimization to increase sales
Listing page optimization can multiply profits. Product pages fill multiple roles, including product discovery, education, and selection.
Today, we explore how Home Depot, one of the most successful online stores in the world, optimizes their listing page. We explore a number of tactics and best practices to increase conversions on your product pages. Let's begin!
How Home Depot increases conversions on product pages
Home Depot provides an excellent example in product page optimization. With over $150 billion dollars in total sales. Online sales currently account for 14.3% of total sales, and grew a whopping 27.1% last quarter!
How is Home Depot improving online sales? One key component is constant optimization of their online channels. Below we break down specific tactics they use to optimize their product pages.
1. Provide at scale product images
At scale product images help establish accurate customer expectations. Another benefit is allowing your customers to better envision having your product.
Below, Home Depot shows their product where it would be located. You can see the firepit in a beautiful backyard surrounded by furniture.
2. Provide multiple shipping options
We've looked into how click and collect strategies allowed Target to increase same day fulfillment sales by 273%.
Allowing multiple shipping options, including varying delivery dates and pickup options are expected in today's environment. It also acknowledges that customers have different requirements and shopping behaviors.
3. Leverage cross-sales and upsales to increase AOV
Upsales are incredibly important to increase per visit profits.
Below, Home Depot injects both a product insurance cross sale to protect their customer's purchase. This cross sale is excellent in that it is additive, personalized to the product being purchased, and is equivalent to a price increase on the same sku.
This has an outsized impact on profitability. In fact, we explored at length pricing impact on increased profits here, showing that even a 1% increase in price can often result in 11%+ increase in net revenues.
4. Create dynamic bundles based on purchase behavior (advanced product recommendations)
Bundling is fantastic upsale tactic. Taking advantage of machine learning and advanced product recommendations, it is possible to create dynamic product bundles based on a variety of factors.
Below, Home Depot's product recommendation engine creates bundles based on aggregated customer purchase behavior. By identifying items commonly bought together, they can anticipate the needs of their customers, including implicitly educating them about what they need to make the most of their product.
5. Aid discovery and selection through detailed comparison tables
We often think of home, search capabilities, and category pages as the primary way to help in product discovery. However, clicking through to a product page is a strong indicator in a customer's preferences.
Incorporating this data into on-page elements is crucial for effective personalization - and it starts with product page widgets. Below, Home Depot creates comparison tables between the currently viewed product and alternative choices from their product catalog.
They display a number of like product attributes, and enhance the widget with product labels such as "current product" and "top rated".
Product pages represent a huge opportunity to maximize sales. This post covered a series of personalization tactics and optimizations to increase conversions.
To see if Barilliance can help you transform behavioral data into increased sales, schedule a demo here.