Do you know someone who doesn’t get why they should pay for Magento Commerce (formerly known as Magento Enterprise), when they could use Magento Open Source (formerly know as Magento Community) for free? While many capabilities are exclusive to Magento Commerce, I’ve highlighted a few that have the greatest potential to impact your online store’s revenue.
Customer Segmentation, Targeted Promotions & Merchandising
Personalization may be the best way to drive sales, encourage loyalty, and create repeat purchases. A personalization report from Venture beats found that 40% of those using personalization saw return visits and a report from Monetate found that personalization drove a 20% increase in ecommerce sales. Lots of ecommerce software attempts to make personalization easier, but features native to your ecommerce platform will make it much easier to personalize the on-site experience.
The free option, Magento Open Source, allows you to manually create customer groups, but not dynamically create customer segments for personalization. With Magento Commerce, you can display content and promotions to customer segments based on their address, order history, shopping cart contents, and custom customer attributes (which are also Magento Commerce version only). It’s easy to generate reports on customer segments, so you can better create promotional roadmaps based on high-value segments.
Automatically linked related products, cross-sells, and upsells
Cross-sells and upsells are a solid way to improve average order value. In addition to being able to connect any number of upsells and cross-sells to a product manually, Magento Commerce lets you create rules that automatically do the linking for you. Rule-based linking in your ecommerce platform could positively affect your revenue in a few ways. First, automatically linked products reduce labor poured into finding and selecting products. If you have many SKUs on your Magento store, this time can add up. Second, you can upload new products faster and manually add new ones later, allowing you to start selling new products with upsells sooner. Third, automatically linked products won’t expire. Say you stop selling something that the rules included as an upsell; with Magento Commerce, a new product will replace it automatically. No lost opportunity!
You can create tailored categories of products that match specific rules and/or conditions, and then manually position products by dragging and dropping them in the right place or sort them by any number of attributes such as stock, price, sale price, newest, color, name, and sku. The tool reflects what customers see; so you’ll be designing an ecommerce experience that more closely matches their needs. Sorting by attributes will save you time, which is better spent providing customer support and driving sales with Magento’s other marketing features, such as segmenting customers to see more relevant content.
Content Scheduling and Preview
Ecommerce employee bandwidth expands and contracts quite unexpectedly for many online retailers. Magento Commerce allows you to manage, verify, schedule and preview updates to products, categories, content, and promotions, which is an incredibly useful feature during the holidays when there never seem to be enough people supporting the site. Your team can focus their attention on customer support, and revenue-driving efforts. You can also preview a scheduled change before it goes live on your Magento store to make sure it looks correct; no more midnight checks of scheduled changes. Meanwhile, a timeline dashboard allows you to coordinate multiple campaigns to make sure you have maximum coverage.
Reward Points / Multiple Wishlists
A Smile.io report revealed that their loyalty program clients gain an average year-over-year sales lift of 27%, increase the lifetime value of a customer by 40%, and see an average increase in repeat purchases of 20%. Extensions like Smile.io are powerful, but your Magento platform can pull some weight as well. Rewards points are a pivotal part of any good loyalty program, and Magento Commerce makes it easy to integrate them into your overall ecommerce marketing program straight in the admin.
According to Regifter, wedding gifts represent a $19 billion market. A survey by XO group revealed that “the average gift registry is worth $5,158, with 42 percent valued at above the $5,000 mark, with bakeware and kitchen appliances as the most popular items on a registry.” If there’s a chance your products are a fit for newlyweds, then it’s time to grab your piece of the pie. Magento’s gift registry allows you to create customized and searchable gift registries for your ecommerce customers.
*Bonus: You can work with Blue Acorn.
A platform with the ability to drive ecommerce revenue (and investing in features that show you are committed to growing your business) is essential to being a Blue Acorn client. If you choose Magento Commerce as your Magento platform, the doors begin to open. To learn more about working with us, or to get a demo of Magento Commerce, you can contact us here.