Januar 2022 - Expivi

How to Reduce Product Costs of Samples

Before you launch a product in the market, you most likely need to show your new item to partners, clients, customers, or team members. But how do you do that without draining your account? We got your back! There are a few steps that you can take during the process that can help you reduce product costs of samples.

We bring you some tips and tricks to move forward when crafting your next product development sampling. Ready, set, sample!

Streamline Your Decision-Making Processes

One of the best ways to reduce product costs when it comes to developing your samples is to focus on eliminating excess sampling. This calls for a quick and accurate decision-making process. You can do this by:

Knowing your Target Audience and Goals

Before you can dive into any product sample, you absolutely need to know your goals and your audience.

What is the purpose of the product? Who’s my Buyer Persona or who’s my ICP (Ideal Customer Profile)? Does my product fit with my target audience? What problems does it solve? What experience does it provide?These are the first steps and, when done correctly, they’ll save you a lot of effort. Apply some time in these early stages and answer these questions, because in the end, it will reduce product costs.

Making Sure Your Team Has the Right Tools

During product development, your team needs to have the right tools and procedures in place. Without these, success can be limited. And, just like mentioned above, lack of the right resources could result in problems down the line.

You want to ensure that your team, from the beginning, understands the goals and has all the tools and supplies to make educated decisions for your product and, eventually, the product sample. They should also be made aware of any client expectations, requirements, targets, deadlines, and other details. This information combined with the correct tools will ensure your product development and sampling goes smoothly. With this knowledge in place, you’ll be able to reduce product costs, and keep everyone on the same page.

Pay Attention to the Market Trends

This applies to every business, everywhere. It doesn’t make it any less important though. Market trends should assist you in setting the tone for your organization. Check out the reports on market growth and trends for your e-commerce business and know how to take advantage of that data.

During this stage of the planning process, you should also be throwing out any “useless” features, which will help you reduce product costs.

Ask yourself the question, “What value does this add to my customers’ experience of my product?”. If the answer is not much, then let it go. Having extra needless features just for the sake of it will not help you stand out from the babel of new products out there.

They’ll most likely increase your product’s overall price but the sampling cost will also grow. If you’re wondering how to reduce manufacturing costs, paying attention to market trends and re-evaluating product features are two important steps.

Opt for Digital Prototyping

Digital prototyping is a clever way of lowering sample costs. Why? Well, it will help ensure you have a working product, stay on your development schedule, regularly update your clients, and increase customer engagement. It’s also useful when optimizing speed to market and cutting down on supply chain issues. Talk about being able to reduce product costs in a smart way!

Create Fewer, but More Accurate, Product Samples

How to reduce manufacturing costs? Read above! By focusing on crafting fewer product samples that meet your goals and your clients’ expectations, you’ll be optimizing the process.

This is not the time for mass production. We advise you to create fewer and more accurate samples, so you can reduce product costs.

The right strategy during development can help reduce instances of waste going forward. You will have to produce less, meaning you spend less. Overall development costs will be lower.

Not to mention that you will save on shipping costs. With fewer samples produced, you can reduce product costs, specifically when it comes to air freight or other logistic costs.

Try to Negotiate With Vendors and Suppliers

Negotiation should be a part of product development, from the early stages to the mass production. That includes crafting the product sample. Talk with your suppliers and vendors – see what deals can be made. You may be surprised at how much you’re able to reduce product costs, by sitting down and discussing a few details. Negotiating puts you in a favorable position.

Your product development and sample team should also consider shopping around. There are bound to be other suppliers and vendors, so be sure to ask them for quotes regularly to ensure you’re getting the best price for your budget.

All things considered…

Creating a product sample can seem fairly easy, which is why many companies go for it both feet in. Knowing your target audience and how the product fits their needs and desires should be number one on your list. Then make sure your team is up to speed with the right tools and information. This will not only save you money – it will save you time, effort, and greatly reduce product costs.

Are you curious about how to reduce product costs on sampling? Wondering how a 3D product configurator might help you in doing so? Get in touch with our team.

Why Now Is the Time to Engage 3D eCommerce

Ever considered using 3D imagery for your eCommerce products? No? Well, there’s no better time to start than now. Go ahead and explore the benefits of 3D eCommerce and its impact on sales, conversions, and more.

Here’s a quick rundown of how your business can grow using eCommerce 3D technology.

Interested in getting started with a 3D eCommerce website? Let’s connect over a demo.

But what is 3D eCommerce?

3D eCommerce allows your customers to get a full representation of any given product using 360° rendering and AR. The tech gives them the opportunity to explore tiny details, view the item from any angle they desire, and add customization options to the mix. Customers browsing your eCommerce site can also zoom in and out to look at texture, details, features of products.

3D product representation gives your business the chance to get as close to offering an in-store experience as possible – with 3D for eCommerce.

Why Opt For 3D eCommerce?

There are quite a few benefits to opting for 3D eCommerce for your business. Check out these reasons why you’ll want to start immediately:

Your Customers Want To See Products in 3D

Your customers want to explore their options before making a purchase and thanks to the internet, comparing items is now easier than ever. 3D eCommerce graphics allow your customers to quickly and simply compare items without leaving the comfort of their living room.

There’s no doubt: It’s enhancing the online shopping experience. And your customers are starting to expect nothing less.

Your Customers Can Fully Customize Options

If you offer a desk that comes in different styles, textures, and colors, 3D eCommerce products allow your audience to fully explore the different combinations without stress. Without this option, they would have to use their imagination to visualize what the product may look like as an end result. But 3D graphics can show them exactly what it’ll look like before they’ve even hit that “buy now” button.

Your customers want the ability to customize a product before they buy it. If you’re not taking this path yet, you’re hurting your bottom line. This is especially the case if you sell more expensive products. That’s where 3D for eCommerce comes in.

Augmented Reality Allows Customers To “See” The Product in Their Home

When it comes to furniture, nothing stinks more than buying a piece and realizing the size wasn’t right for the space (even if you measured it 3 times). To take 3D eCommerce one step further, use AR to allow your audience to place the item right in the room, visualizing the space for it, before they make a purchase. It also gives them the chance to make sure the color and design go with the rest of the décor.

This feature alone can increase your conversion rate by 6%!

The Competition is Doing It

Sellers on Shopify, Amazon, and other major retailers have been offering the opportunity to engage with 3D for eCommerce for quite some time. When your customers are comparing products, it helps to have a 3D representation of your own. If your competition is offering it, and you aren’t, you could lose out on quite a few sales.

The Competition Isn’t Doing It

On the other hand, even if your competition hasn’t fully embraced 3D product representation yet, opting for it gives you a head start. So, what are you waiting for? The sooner you start with 3D eCommerce, the more relevant you’ll be.

It’s Cost Effective

Before 3D for eCommerce was possible, if you wanted to offer your audience that 360° view, you’d have had to pay a photographer to take photos from every single angle imaginable, and with every custom option you offer. Virtual photography is actually much less expensive than this more traditional way of working, allowing you to save quite a lot on product photography, manufacturing, and marketing.

It Gives You Data to Improve the Customer Experience

Thanks to 3D eCommerce product visualization and the ability to more easily customize items, customers are telling you what they want and don’t want in a product. This gives you more data for your company, providing you with the resources you need to improve your website, upgrade your products, and increase conversions.

A Picture is Worth a Thousand Words

The saying is true. Text is important, but visuals speak quite a bit more than text. And it’s likely your audience is looking at the photos of your products more than the content you write around it.

How they shop also makes a difference. Around 40% of shoppers are using mobile devices for their eCommerce purchases. Screen size could play a major role in what your audience is looking at on any given page, so a majority of the website’s content should be given to photos and 3D product representations. That’s how you move towards 3D eCommerce, the future of online shopping.

It Lowers Return Rates

Have you had customers return a product saying it wasn’t what they envisioned? Or wasn’t what they expected? Allowing your audience to fully customize a product through 3D eCommerce options can cut down on those return rates (by 12%) and help ensure they’re satisfied before they make a purchase.

3D eCcommerce in the Age of Coronavirus

As a result of the coronavirus, many businesses are closing their brick and mortar, but your customers still want to shop. Even though they can’t visit a store in person to view your products, they can visit your website. 3D eCommerce options give them a chance to get as close as they can to that real-life buying experience, without putting themselves in danger. It also allows you to focus more on the customer experience, making sure they’re satisfied with your website, options, and product.

If you want to give your products a more lifelike appeal online, then it’s time to explore 3D eCommerce, with product customization and personalization. It can lead to an increase in sales, more engagement, and less returns.

Ready to find out more about 3D configuration and how that can change the way you sell? Get in touch with us, and we’ll walk you through.

Did you like this article? Then read all about how you can have fewer returns right here.

Five E-commerce Trends You Can’t Afford to Miss in 2022

Trends in e-commerce are constantly changing, and that’s no secret. In fact, you’re probably finding it quite difficult to keep up with online shopping trends. But, by staying up to date on the latest, means that you can ensure the best customer experience possible.

Psst…here are just five e-commerce trends in 2022 that you can’t afford to ignore!

Curious about the future of e-commerce and how you can keep up with the latest e-commerce trends? Get in touch!

E-commerce Trend #1: Chatbots

Whether on social media or on your website, chatbots are one tool that many e-commerce companies (and other industries) are benefiting from. Not only do they add to the customer experience, but they can work to save your business time, effort, and money.

They can be used to answer common questions so your customer service representatives don’t have to. They also solve more complex problems with the right data, or assist your customers with sales. With chatbot setup, you won’t lose out on all those late night shoppers just because you don’t have a representative around.

Chatbots are the employees that never sleep – they’re around 24/7, and just one of the mobile e-commerce solutions you need. Already a popular e-commerce trend in customer support, it’s expected that 85% of customer interaction will be handled without a human representative this year. AI and data are only making chatbots more intuitive, so the programs tied to this e-commerce trend in 2022 will become more powerful and more evolved as time goes by.

E-commerce Trend #2: Personalization

With all the sales and marketing noise out there, it’s no surprise that personalization is one e-commerce trend your business can’t ignore. This is the case for both B2B and B2C companies. Your customers are looking for unique, personalized experiences, personalized product recommendations, and detailed customer services based on their wishes.

Don’t take our word for it… One study actually found that adding personalization to the mix increased revenue by 25%. Always keep in mind that data is essential! The more data you have on your audience and their shopping habits, the easier and more accurate personalization can be. Use this online shopping trend on your website, campaigns, email, social media, text messages, and other marketing outreach.

Personalization can be time consuming, we know that! So we suggest that you tier up your audience, and personalize your marketing efforts for those who sit on that top tier!

E-commerce Trend #3: AI and Data

AI (Artificial Intelligence) and data go hand-in-hand with personalization and chatbots, but they also deserve their own mention as an e-commerce trend in 2022. Data is essential to learning about your customers, who is your real audience? What products are they drawn to? When are they more active? E-commerce businesses are only getting smarter about how they read and use data. Is your e-commerce company taking advantage of the numbers yet? It should be a part of your marketing, sales, and overall business strategy. And as the data changes, so should your approach.

AI, when set to the right metrics, can then use that data to improve your business efforts. The information it delivers allows you to provide those personalized experiences. Some softwares provide you with some intel on what companies are visiting your website, others can actually help you find the contact info of people who work on those companies…

Imagine the possibilities of what can be done with all that juicy intel? It’s part of the future of e-commerce indeed. Would you like to know more about AI softwares that can help you fuel your outbound efforts? Let us know!AI can also help you when crafting your multi-channel marketing strategy. Your tactics will fit the right customers at the right time and place as they move along the funnel. A great e-commerce trend that will help you boost sales!

E-commerce Trend #4: Augmented Reality

Augmented reality, or AR, is another e-commerce trend that’s taking off, especially in light of the pandemic. With limited in-store shopping experiences, mobile e-commerce is on the rise. AR is transforming online shopping trends, allowing your customers to see products as realistic as possible, from the comfort of their own home.

AR makes it easier to see products in a context: furniture within a room, shoes in a cupboard, and even get a 360° view of an item – before making a purchase.

It has been found that 35% of people would be shopping online more if they could virtually try on a product. And not only does this e-commerce trend lead to more sales, but AR has been known to reduce return rates tremendously. Impressive, right?

E-Commerce Trend #5: New Payment Options

Payment options are changing rapidly, and it can be difficult for businesses to keep up. Online shopping trends have been around for a while and they’re only ramping up. Are you offering your customers the ability to buy from a smart device yet? Four out of five Americans are online shoppers with over 50% of those having bought from mobile e-commerce. And this number is only growing.

The future of e-commerce suggests that companies need to pay attention to new payment methods such as digital wallets. Some businesses are even starting to accept Bitcoin and other cryptocurrency, while others are offering more in the way of financing. That’s why offering several payment options is a must e-commerce trend!

Is this all folks?

E-commerce has come a long way, rapidly evolving over the past few decades, and we both know it’s not over yet! If you sell online, it’s pivotal that you keep up with the latest e-commerce trends and adjust your processes and strategies accordingly.

Will you be adding any of these five trends to your list this year?

Customers are more demanding nowadays. It’s not only about the purchase, it’s about the buying experience. A check-up on the online shopping trends should always be in your calendar.

Standing out from the crowd is tricky, but with 3D product configuration and AR tools, you’ll be one step ahead.

Let us help you in crafting an e-commerce plan for your products that’ll increase sales, improve the customer experience, and reduce overall costs. Book a demo!