With companies struggling to boost or even maintain online sales of their goods, some are turning to so-called "educommerce." These e-vendors are finding that an educated customer is often a loyal customer.
Eduventures, through extensive research on the e-learning market, opines that many consumers are attracted to sites, not only because of their product offerings but because they cater to their educational needs and interests. They uphold that e-vendors can make their sites more 'sticky' by merging e-commerce with e-learning initiatives.
With customer conversion rates averaging out at 4.7 percent and the costs of acquiring a new purchaser hovering at $25 per person, e-vendors are in dire need of new ways of driving customer loyalty. By offering Web visitors an opportunity to slake their thirst for knowledge, e-vendors stand to bolster online sales and improve on malfunctioning marketing strategies.
Whilst corporate, government and higher educational needs will drive the e-learning market to over $25.3 billion by 2003, Eduventures upholds that additional value is to be had from a more informal sector. This sector consists of hobbyists who want to learn more about their particular sideline or enthusiasts who want to learn the basics of anything from investing, programming, or completing tax returns to cooking and needlework. By offering Web visitors something unique like educational facilities, Eduventures believes that e-vendors stand to cement customer fidelity. Moreover, they add, such an educated customer is more likely to buy a product.
The bottom line is that education can be an effective sales and marketing tool - well suited not only to e-tailers, but also to companies in vertical markets ranging from financial services and health care to law and real estate.
Reprinted from sa.internet.com