Wishlist is a great addition to virtually every single ecommerce website ever built. It is a feature that lets your visitors and customers add products to a special list. It is a list of products that your customers are really interested in, however, they are not ready to make a buying decision or they simply don’t have the resources they need.
At the first glance, it may seem that the reasons why wishlists represent a nice feature for your customers, as well as a great opportunity for your business are pretty clear. However, if you really think about it, you will start to discover more and more ways a wishlist can be beneficial for you and your business.
Check out some of the most popular WordPress ecommerce themes wishlists.
I created a list of the most important benefits of a wishlist that I want to share with you in this article. I hope they will give you all the reasons you need to finally implement a wishlist and make us of the benefits it brings you.
Reason #1: Know what your customers want
I will start with perhaps the most basic reason why wishlists are important. They inform you about the preferences of your customers and let you know, which specific products they are interested in.
You can use this information to prepare for future demand and most importantly to implement marketing strategies that help your customers to finalize their buying decisions and actually order the products they placed into the wishlist. You know that they are interested in them and you only have to give them the final incentive to buy them.
Reason #2: Discover buying patterns and get an insight into your customers’ heads
You don’t only have to focus on every single customer’s wishlist and analyze it as a separate entity. You can also look at all the wishlists you have, combine them with actually processed orders and get a much deeper insight into the buying patterns of your customers, as well as their preferences.
Analyze the items your customers actually ordered and the items they only placed into their wishlist and haven’t bought yet. This type of analysis can help you find out what makes your customers place an item into their wishlist and what makes them actually buy it:
- Are your customers waiting for a discount or some other type of special offer?
- Are they just listing products that they don’t have the money for just yet?
- Are they adding interesting items into their wishlist and never actually buying them?
Discover what is actually needed for an item to make its way from a wishlist to the shopping cart. It might really help you find an opportunity to grow your sales, revenue and most importantly your profit.
Reason #3: Improve your logistics thanks to the items in wishlists
Have many of your customers placed some kind of special Christmas lights into their wishlists? Use this information to prepare your logistics and match the demand you will actually face during the holiday season.
Wishlists are really great for seasonal items that caught people’s attention but are not really needed just yet. A great example of this are the aforementioned Christmas lights, as well as other items connected to a specific type of weather or commonly celebrated holidays.
Of course, you can always assume that people will buy more Christmas lights in December than in August. However, wishlist offers you much deeper levels of insights. It lets you know which specific products are most popular and will most likely sell best. That allows you to fill your shelves with the right products and prepare for the season.
Reason #4: Make customers come back later for items currently out of stock
What do your customers do when the product they want is temporarily out of stock? They might choose to buy an alternative from you, however, they might also choose to leave to a competitor and buy the item they want from them. Of course, they might also just forget about it and never actually buy the item they were shortly interested in.
Wishlists let your customers add out-of-stock items to a list that they might check later. The wishlist might also be able to remind them when the item they want becomes available again. Don’t miss out on sales just because some of your products were temporarily unavailable.
Reason #5: Wishlists can be shared
I saved this one for the end, because it covers wishlists from different perspective. The best wishlists are the ones that can be shared – both publicly and privately. Imagine a person that shared his or her wishlist with a family member or a friend. That can really take all the guessing out of the process of buying gifts and ensure the satisfaction of the person being given the gift, as well as the one buying it.
What’s more, the wishlists can also be shared publicly. Under the right circumstances, that can bring a lot of traffic to your ecommerce website and boost your sales. Doesn’t matter whether the wishlist is created directly on your site or using some of the other wishlist-like applications.
Check out VIDEO on how you can skyrocket sales on your ecommerce website by adding wishlist..
How to Find the Best Technical Solution for a Wishlish?
Implementing a wishlist feature to your ecommerce website doesn’t have to be difficult and time-consuming. It can actually be pretty easy.
If you use any of the most popular ecommerce platforms, such as Magento, Prestashop, Open Cart, Woocommerce, Shopify or even Drupal, your site might already have a wishlist. And if it doesn’t, you will be able to find a module (an extension, a plugin) for each of these platforms that will bring you all the benefits I mentioned in this article.
If you are running a custom made ecommerce system and want to implement a wishlist, you will most likely have to find someone to code it for you, however, I believe that it is well worth the time and resources you will have to spend.
Published by: Viktor Vincej in Tips