If you have ventured into the ecommerce business and looking for ways to boost your sales and generate good revenue, your answer lies in optimising the conversion rate of your online store. An investment that goes into creating your ecommerce store using an ecommerce store builder will be a total waste of your money if you cannot generate good revenue from your ecommerce business. And your online business will only be able to score good revenue if it has a reasonable conversion rate. Now, what is the conversion rate? Let’s take a deeper look so you can fist-pump your sales and generate fantastic revenue.
Conversion rate is originally a percentage of your website visitors who complete the desired action, but when it comes to ecommerce, conversion rate represents the percentage of those who come to your store and make a purchase. You might be receiving a high amount of traffic on your ecommerce store, but do not let good traffic fool you into thinking that your store is doing good. Any ecommerce store can only be considered as performing well if it gives your business good revenue, which can be ensured only with a good conversion rate.
To bring such traffic to your website that can turn into customers, your ecommerce store must have high-performing product pages which can create a positive user experience. And this is only possible if your e-commerce store receives conversion rate optimization, which is a process of making incremental improvements to your store that leads to a better user experience and ultimately increases conversion.
One of the top reasons people shop online is because they can easily see what others have to say about the brand or product they are looking for, the availability of better product information in the form of the product description, and a chance to select a product without getting distracted in the sea of multiple options as in the case of physical shopping.
Therefore, if you want to ensure good conversion rate optimization, you will have to incorporate all the parameters discussed above along with following a few more techniques that we have covered below:
One of the most effective ways to see what parts of your website are not working is A/B testing which lets you analyze different elements of your website to see how each of them is performing. You can quickly test colours, page layouts, calls to action, headlines, descriptions, and other elements of your website to determine whether they resonate well with your audience. Thanks to this testing method, you can evaluate the strong and weak spots of your ecommerce store and improve it based on these findings.
According to research, 80% of smartphone users have purchased online on their devices while browsing their social media feeds in the last six months. This indicates that most people choose to shop online, which shows the importance of having an online ecommerce store with good mobile optimization.
Mobile optimization is a strategic approach which enhances your website to deliver an engaging experience to mobile users. Content that has been optimized effectively will surely offer a fantastic experience to your users across all the channels.
52% of consumers have reported becoming frustrated when they come across ecommerce stores with slow page-loading issues. The ideal time for any website to load completely is 3 seconds. Therefore, if your ecommerce store fails to load within this time frame and faces even a second’s delay, it can cause the conversion rate of your ecommerce store to drop drastically.
Moreover, if your website is not easy to navigate and makes it impossible for your visitors to quickly and easily find what they are looking for, your visitors are likely to go away. The solution to this is making your store so simple and navigatable that your customers can quickly spot the product they are looking for. A few things that go a long way in ensuring impressive navigation are the reduced number of fields consumers need to fill while checking out and the acceptance of various payment methods.
If you make the checkout process easy, you can easily attract many customers, as 87% of online shoppers are reported to abandon carts upon finding the checkout process difficult.
If you offer higher prices of products that your customers can easily find elsewhere at reasonable prices, they are most likely to go away. In a competitive market where you have many competitor brands, it becomes difficult to attract leads and prospects. The best way to do this is to keep your prices lower than what most of your competitors have kept.
However, do not keep your prices the same for long, as your marketing strategy heavily influences your customers' buying decisions; therefore, you must adjust prices accordingly to the ongoing trends and your customers’ buying behaviours.
If you market your products to the right audience with the right imagery and messaging, you will most definitely attract convertible traffic.
Keeping visually appealing and persuasive design of your store is something that goes without saying. The modern consumer is not interested in seeing web designs that used to be very descriptive and required a lot of attention. They are more interested fancy yet simple and sleek designs.
While keeping your design fancy and simple, you should not forget to add persuasivness into the equation. This means that it should pull your visitors’ eye to important parts, such as calls to action and important information related to the product.
The goal is to keep your visitors engaged and encourage them to proceed with the transaction. For this purpose, your copy should not be too salesy, but it should have your brand’s voice in every word on your website.
Leveraging both live chat support software and customer support representatives, you can provide support to your customers even during off hours when your human resources are not available. Even though two are usually considered alternative options, using both together will give you much more successful results.
For your customers to quickly provide you with credit card information, it is important for them to trust you; for that, your website must have trust signals. If you are wondering what trust signals are, we have got you covered. They are elements found on websites and points of sale that ensure your customers that your business is completely trustworthy. The main purpose of trust signals is to make your customers feel secure and better about something they have already decided to buy.
Guarantee trust signal
Social proof trust signal
Trust by association
Membership trust signal
Structuring your website properly is also one of the keys to ensuring that your visitors turn into customers. When a visitor is able to see ‘shop by colour’ or ‘shop by product’ type categories, it will become easier for them to navigate without wasting much time finding what they are looking for.
If you can instil a sense of urgency in your customers, they will feel less distracted and immediately try to make the purchase. Coupons and discount codes are the best way to do this. If you keep these incentives with a limited-time offer on checkout, your customers will feel the need to urgently make the purchase before the offer expires.
Most visitors abandon their cart at checkout because of the lengthy and complicated checkout process. If the checkout page is too cluttered, asks for unnecessary information, and gives no such direction due to a lack of CTAs, your customers are likely to abandon the order there. The solution to this problem is removing unnecessary clutter from the checkout page and self-explanatory steps that should not require much effort to determine which information will go where.
With a clear summary of the order and an obvious explanation of the steps, your customers should be able to checkout quickly, which will eventually create a positive experience for your customer and even encourage them to shop again.
If your website does not have a shopping cart icon or if it is not visible, your customers will not be able to find it and checkout. This seemingly minor inconvenience can go a long way in decreasing your conversion rate. Therefore, ensure that your website has a clear shopping cart icon linked to its respective page.
People usually find creating an account from scratch tedious and time-consuming. Allowing your customer to checkout as guests will play a big role in increasing conversion rate as customers will find shopping at your website easy and convenient.
Call to action serves as the last prompt to push your customers to take that action. If your website shows properly distributed “Add to cart and ‘Checkout’ buttons, your customers will know what action they have to take at every step.
When it comes to online shopping, customers tend to read return policies before they buy something. If you make your return policy as hassle-free as possible and painless, your customers will buy from you knowing that they can easily return the product in case of any problem. So keep your return policy clear, simple, and easy.
You can leverage email marketing to boost conversion rates. For this purpose, you will simply have to ask for email addresses via pop-ups to initiate a customer journey in which you can send your customers coupons and reminders.
When a customer has multiple options to buy from, they will need to know the uniqueness of what you are bringing to the table. This is where the role of a unique selling proposition comes into the picture. Clearly elaborate your USP to your customers, but it should be smart and authentic.
Unprofessionalism is also one of the reasons that can make your customers go away, and it is mostly reflected in improper spelling and grammar. Even though it may seem like a minor mistake, correct spelling positions you as an intelligent business.
Ensuring a good conversion rate is essential for a strong Return on Investment. Therefore, if your ecommerce store is maintaining a conversion rate between 2% and 5%, it can be considered good enough to drive average revenues. However, if you are aiming for top-notch revenue, then 10% is regarded as a good conversion rate. Some businesses can achieve 11.45% with the right optimization.
A good conversion rate can give you outstanding results, but you don’t have to settle for good only. Strive for even better, and thanks to Webx ecommerce builder, you can easily create an ecommerce store that will have all the required elements important for a good conversion rate.
If your ecommerce store drives good traffic, that does not necessarily mean that it can give you good revenue. However, a good conversion rate can ensure good revenues if you implement all the necessary steps to optimize your site. Follow the above-mentioned list to the bone and see the results.
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