Sunday, November 24, 2013

Internet and Businesses Online: Site Promotion Article Category

Why Do Trust Seals Work?

There really is not debate anymore among eCommerce specialists that Trust Seals increase sales and conversion rates. If you look at the list for the top 500 internet retailers most of them have at least one Trust Seal on their sites, many of them have multiple trust seals.
The reason is they have read the market research on the subject, and have done the A+B testing and realized that the increase in sales and conversion rates from having the seal is many times higher than the cost of the seal.
The question of why do they work is a little more complex, and it may be better answered by a psychologist than a e-commerce conversion specialist but I will try.
The key to trust seals is 3rd party verification. If you go to the store and the merchant behind the counter tells you this is a great product you are going to be skeptical, but if the guy in the line behind you says "I bought that last week and it is a great product."
Who are you going to believe? In this scenario the merchant selling the product should be the most knowledgeable about the product, but most people would give more weight to the guy in the line. Partly because that person has no financial interest in making the sale, partly because the guy behind you has given you 3rd party verification
3rd party verification is a powerful thing. It is the reason eCommerce sites have testimonials and customer reviews, and show how many likes from Facebook pages. People are skeptical about anything said on a website and after being constantly being bombarded with sales lingo they tend to ignore it. They need more.
In the early days of the internet exit polls showed that the main thing keeping people from buying, was they didn't trust the site. Is this site secure? Was the question these early shoppers were asking. Today's internet shopper is much more sophisticated, they still have questions that need to be answered. Today's exit polls show that the most common question has changed. Is this a good deal? Is what your shoppers want to know. If you want to get the best conversion rates and most sales you need to answer that question.
3rd party verification can still help. There is a new "Discount Seller Trust Seal" this new type of trust seals assures your visitors that you really do offer discounted prices on your website, and answers the question your users are asking.
If you're not a brand name site, you have to make sure you provide enough information that people will believe that you can do or deliver on what you promise.
A trust seal alone will not do that, you also should be adding testimonials, industry awards and memberships, product reviews, and social network follower counts along with the new Discount Seller Trust Seal. The end result better conversions and sales.

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