When a customer visits your store, are they ready to click “buy” right away? Chances are, they may want to think about their items before making a purchase. Or maybe they need to save some money before they can buy. Regardless, you want to capitalize on their interest and avoid losing a sale.
A wishlist feature lets you do this by keeping shoppers engaged and giving them a place to save their favorite items so they can return later to buy them. It also gives you valuable data that enables you to follow up with highly targeted email and social media ad campaigns.
With the right approach, a wishlist feature can boost your e-commerce revenue by decreasing lost sales. In this article, we’ll look at five tips for increasing your store’s revenue with a wishlist feature.
What is a Wishlist and Why is it Important?
A wishlist lets you maximize customer engagement. Not every shopper is ready to make a purchase when they land on your store. But when they find an item they like, they may want to bookmark it for later. A wishlist gives shoppers an easy and convenient way to save the items they love so they can come back and make a purchase in the future.
But what is the benefit of having a wishlist feature for your e-commerce store? Not only does it make customers happier, your wishlist app is a powerful source of data. As shoppers interact with your products, the wishlist app saves their preferences. You can then use this data to guide your marketing strategy, create powerful follow-up campaigns, and boost your revenue with targeted upsells and cross-sells.
Benefits of Using a Wishlist for Your E-Commerce Store
- Shoppers using your site’s wishlist feature are more engaged with your brand.
- When shoppers add items to a wishlist, they’re more likely to make a purchase.
- Data gathered when shoppers wishlist items gives you insight into their behaviors.
- You can create more effective marketing campaigns informed by user data.
To learn more about the benefits of a wishlist for your e-commerce store, check out our full article on the topic here.
5 Ways to Improve Your Revenue with a Wishlist Feature
Adding a wishlist feature to your e-commerce store is one of the best ways to boost your revenue and engage shoppers. Brands using Swym’s Wishlist Plus app experience 36-50% larger order sizes and benefit from powerful reporting tools and an intuitive dashboard for analyzing shopper behavior.
Of course, simply adding a wishlist feature to your site isn’t enough. You need to properly set it up and utilize its features to improve your wishlist revenue. With that in mind, here are five tips for increasing your e-commerce revenue with a wishlist feature.
1. Make Your Wishlist Easy to Use
Shoppers don’t want to waste time trying to figure out how to use your wishlist feature. If they can’t figure it out within a few seconds, they’ll lose interest and click away. So to maximize wishlist usage (and the increase in sales that comes with it), make your wishlist easy to use.
Ask shoppers to enter their email address so they can create and save a wishlist, but wait to gather other details. Shoppers can always go back and fill out their profile information later. Swym’s Guest Email Capture feature that comes as a part of Wishlist Plus creates a frictionless experience, letting shoppers wishlist items without signing in—and you can still engage them with targeted marketing based on their wishlisted products.
Either way, be sure to include visible, clear wishlist buttons on every product page and collections page. You should also include a wishlist launch point in your site’s header so customers can always access their saved items. This lets customers know about the feature and makes adding items to their wishlist as simple as one click. Finally, make it easy for customers to move items from their wishlist to the cart to eliminate friction and encourage buying decisions.
2. Enable Easy Sharing
Wishlists are a great tool for sharing. Conveniently, the more customers share their wishlists, the more sales you can make. So be sure to enable easy sharing across email, SMS, and social media. The more places shoppers can share their wishlist, the more likely they are to pass it along to family and friends.
Plus, sharing makes wishlists a great feature for gifting. Shoppers can add their favorite items to a list and then share it with those who are purchasing gifts. This can lead to extra sales from outside your normal audience—especially around holidays—and is a great way to boost your revenue.
3. Use Alerts to Create Urgency
When a customer adds an item to their wishlist, you know you have their attention. But this doesn’t mean they’re ready to make a purchase. You need to follow up and continue to engage them with gentle reminders that encourage them to move the item to their cart and check out.
Swym Wishlist Plus alerts are a great way to build urgency. Subscribers on the Pro plan or above can configure automated alerts for:
- Low Stock: Lets shoppers know when an item they wishlisted is almost out of stock.
- Price Drop: Lets shoppers know when the price of an item they wishlisted is lowered.
- Back in Stock: Sends an alert when a previously out-of-stock item on a shopper’s wishlist comes back in stock.
Accounts on the Starter plan or above can send reminder alerts 24-48 hours after a customer adds an item to their list to re-engage. This encourages the shopper to return and make a purchase, helping secure more sales that could otherwise slip away.
4. Use Wishlist Data to Guide Your Marketing
The data you collect from your wishlist is incredibly valuable. You’ll gain rich insights that tell you which items are the most popular, who your most engaged users are, and how customers interact with your products. This data can greatly increase your site’s revenue when used to guide your marketing strategy and create targeted campaigns.
Make use of our integration stack – Klaviyo, Omnisend, Listrak, Postscript, DotDigital, to name a few, to re-engage interested users.
5. Cross-sell and Upsell Wishlist Items
Customers who wishlist items show they are interested in the products you’re offering. Take advantage of this engagement by using wishlist data to upsell and cross-sell users with similar items they might like.
Upselling is a great way to keep customers engaged with your products once they’ve shown interest. Plus, helping shoppers discover new products they’ll love is a great way to boost both customer satisfaction and your revenue. A win-win!
Conclusion
A wishlist feature does great things for your e-commerce revenue. By giving your shoppers a better experience and making it easier for them to buy, save, and discover items they love, you’ll see your sales increase in no time. With these five revenue-growing best practices in place, you’ll harness all the benefits a wishlist feature can offer.
If you’re looking for the best wishlist app on the market, Swym’s Wishlist Plus has all the features you need to grow your revenue. With powerful reporting and analytics tools, you’ll know exactly what your customers are thinking so you can form better relationships. Plus, with advanced customization options and sharing features, your customers will feel right at home when using their wishlist. Best yet, our suite of integrations with leading marketing platforms lets you keep using the tech stack you’re already familiar with.
Ready to get started with Wishlist Plus for your e-commerce store? Download it here.
