How to Maximize Conversions with Magento 2 Stock Notifications?

If you look around, everyone is trying their hands at eCommerce in one way or another. This makes it quite challenging for even the well-established stores to remain competitive. On top of it, out of stock products can further add to the merchant’s woes. After all, if a customer lands on your store only to find the desired product is unavailable, it can lead to frustration.

The customer may vent about their negative experience, deterring others from shopping at the store. From the store owner’s perspective, the out-of-stock product means lost sales, while the negative experience contributes to poor reputation. Therefore, there’s a need to address this issue. Luckily, Magento 2 offers an innovative way to address this challenge.

Magento 2 has an in-built feature popularly referred to as Magento 2 Out of Stock Alerts. We will explain this feature in detail below but know that the in-built feature offers quite limited functionality. To make the best use of this feature, we recommend using an extension such as Magento 2 Out of Stock Notification by FME.

This article will discuss how the Magento 2 out of stock alerts can drive conversions.

What Are Stock Notifications?

It is pertinent to understand Magento 2 Out of Stock Alerts. Suppose a customer wishes to buy a product, but it is out of stock. Instead of forcing the customer to keep rechecking the website, the feature allows them to sign up for an alert, informing them when the product is restocked. Thus, as soon as the product is restocked, the user receives an email, SMS, in-app alert, or any other form of notification.

This can prompt them to complete the purchase right away, thereby maximising conversions. While every Magento 2 store owner should utilise this feature, it is ideal for stores that deal with seasonal products or products with unpredictable demand. This feature can help store owners assess a product’s demand, thereby significantly improving inventory management.

Best Practices for Maximizing Conversions with Stock Notifications

It is pertinent to understand that enabling this feature is not a guarantee of improved conversions. The reason is that you need to optimise this feature for best results. Therefore, it is important to follow the below best practices for Magento 2 back in stock notification feature:

1. Button Should Be Prominent

   Based on our experience, most merchants place the ‘Alert Me’ or ‘Notify Me’ buttons incorrectly. For example, a few merchants placed the button at the end of the product page. Naturally, if a product is out of stock, no one will bother scrolling to the end. A few other merchants had a very poor design.

   In other words, the button was not prominent. Therefore, it is important to place the button in a place where it is hard to miss. Secondly, the design should appear engaging and immediately capture the user attention. Based on our experience, it should be in the same place as ‘Add to Cart’ button.

   One more thing is that the user must receive a confirmation. Once the click the ‘Notify Me When Back in Stock’ button, a pop-up should appear on the screen. If that’s not possible, send them a confirmation email. This will ensure a customer does not click on the button repeatedly, thereby overwhelming your store’s resources.

2. Create a Sense of Urgency

   Secondly, it is important to create a sense of urgency if you wish to maximise the conversions. This can be achieved through several means, including offering limited time discounts or mentioning that the product has limited stock only. This will prompt the user to take immediate action.

   For example, a user wishes to buy headphones worth $55. You can offer them a special price of $40 if they complete the purchase in 24 hours or 48 hours. It is human nature to get the best value for money and a discounted price is one of the strongest motivations in this regard.

3. Personalization

   Let’s be honest. Every store is offering more or less the same product. The only thing which differentiates top-end stores from others is the level of customer service. Users will keep returning to a store where they feel valued and what better way to do so through than personalization?

   Research confirms that personalisation increases the likelihood of conversions. For example, we offered Magento Consultancy Services to an electronics store based in Canada. As part of our strategy, we started including the subscriber’s first name in all of the out-of-stock alerts.

   In just a month, we witnessed a 25% increase in conversions among people who had signed up for the Magento 2 back in stock alerts. Therefore, merchants must try to personalise the experience as much as possible. They can bundle the product with others that the customer has previously bought or showed interest in.

4. Follow Up with a Reminder

   Most users won’t respond to the initial notification. But this is not something to worry about. Instead, all you need to do is follow up with a reminder after 3,4 days. To avoid frustrating the user, don’t send more than 2 reminders. The reminder can inform them that the product is available, or it is nearing out of stock again. This can create urgency.

5. Leverage Insights for Inventory Planning

   Another way that Magento 2 out of stock notifications can improve conversions is through enhanced inventory management. The number of subscriptions can inform the merchant regarding which product to stock. By stocking more sellable products, the store will see a significant increase in conversions.

6. Integrate with SMS or Push Notifications

   To get the maximum out of this feature, set up notifications for SMS, in-app alerts, WhatsApp, and more. This ensures that the notifications get the most visibility. If the user ignores the email, they are most likely to come across the SMS, WhatsApp message, or in-app alert. This can improve the likelihood of purchase.

7. Optimize the Mobile Experience

   Lastly, don’t forget to optimise the experience for mobile users. For starters, the ‘Notify Me’ button must be easily clickable on mobile devices. Secondly, the form should be minimal, asking for just the email or phone number. This ensures more people sign up for the alerts.

Final Thoughts on Maximising Conversions Through Magento 2 Out of Stock Notifications

Although a simple feature, it has a noticeable impact on conversions and the customer experience. Therefore, it is recommended that every Magento 2 store owner implement this feature. To maximise its effectiveness, use a Magento 2 Out of Stock Notification Extension as it offers advanced functionality.