The first part is to choose the things you want to sell. Then came the part of sourcing your products, setting up the store and launching the paid advertisement to get business up from the ground.
You think that’s all? Not so fast…
Getting customers to your website is just half the job that too the easy part. What’s more difficult is to engage and persuade them to take the actions/ make the purchase.
The process of turning website visitors into customers is what is called conversion optimization, and honestly, this is the truest metric to count the success or failure of a business. And interestingly, conversions don’t just happen, rather you are required to optimize the website to achieve higher conversion rates.
What is conversion?
Well, before we jump on to ways to improve your eCommerce store conversion rates, it would be better to have a brief introduction to conversion, which varies from business to business.
Getting started with eCommerce store conversion rate
The conversion rate is simply the ratio of the total visitors to your site and the number of visitors who took your desired actions.
So, before you can calculate the conversion rate of your online store, it is important to look at your business goals. For instance, the conversion rate for an agency offering SEO Services in Dubai would be the ratio of total website visitors against the number of leads they get from the visitors. Similarly, the conversion rate for an eCommerce store will be the number of visitors checking out from the cart. Would be the ratio of total website visitors against the number of leads they get from the visitors. Similarly, the conversion rate for an eCommerce store will be the number of visitors checking out from the cart.
Here are some common types of conversions for an eCommerce store:
- An online sale
- Products added to the cart
- Adding products to the wishlist
- Email signups
- Sharing over social media platforms
- Any other KPI
Now, in this blog, we will be covering some of the most important steps to implement on your eCommerce platform to boost conversion rates.
What is a Good Ecommerce Conversion Rate?
If you are reading this before venturing into the eCommerce industry, get ready to receive a shock…
That’s because the average conversion rate for eCommerce stores stand at 1 – 2%
Pretty scary right?
To add to your shock, getting a 2% conversion rate is the most what many eCommerce stores will achieve even after implementing all the basics of conversion rate.
Is it a bad thing? Not at all…
Remember, 2% of the total visitors maybe a whole lot for most businesses, given they are receiving consistent high traffic.
So, at the start you should aim for that 2% mark and only once you have achieved that mark, you can move on to the advanced conversion rate strategies, to move beyond 2%+.
How to calculate conversion rate for ecommerce stores?
Here’s a quick guide for you: if you are getting 1000 visitors to your website and making 10 conversions over a definite period; your conversion rate stands at 1%
All you need to do is to divide total visitors to conversions within a definite time and you got your conversion rate.
How to improve Conversion rate?
Well, we will get to the techniques and tips to improve the eCommerce conversion rate in a bit, however, before we get there you will need to understand the visitors’ pattern on your website. You will need heat maps of your website to see which pages are attracting most visitors and where they are getting stuck. Once you have the benchmarks from heat maps, you can then move on to take necessary actions to improve.
10 ways to improve eCommerce conversion rates
Use HD images and videos for products
According to one study by Digital Gravity, eCommerce stores with high-quality images and videos of their products are 30% more likely to improve conversions.
Imagine, you are looking to buy a gemstone online, would you be going with a platform that offers only miniature images or eCommerce stores offering high-quality images and videos of the exact stone you will be purchasing?
Remember, online shoppers can’t touch the product, so they have to rely on the quality of images to assess the quality of the product.
The more detailed images and videos you can show them, the more likely they are to trust the product and go for the purchase.
Offer Free Shipping.
Yes, unfortunately, free shipping has become a strong influencing factor for customers’ purchase.
Thanks to Amazon, online shoppers have become accustomed to free shipping and if you aren’t offering free delivery, get ready to lose high numbers of customers, period.
So, yeah free shipping is necessary today!
But that doesn’t mean that you should make a loss.
Remember, it’s a psychological game and you can always offer free shipping by subtly adding shipping fee with the product costs if you absolutely must.
Limited time coupon codes
Who doesn’t like freebies?
I mean with so much competition online shoppers today are always after some freebies or discount promotions to make most of their shopping experience. And believe me, the rightly marketed coupon codes can give your conversion rates a big boost!
Also, adding a timeline to the coupons will act as the urgency for the shoppers, as they rush to claim their discounts without getting too distracted.
Be competitively priced.
Remember when we said that you can subtly spread the shipping fee to the product cost. That’s because while you need to cover the expenses, it’s more important to remain competitively priced.
Again, the fierce online competition means that most eCommerce stores have to go even below the average point just to stay relevant and compete.
Digital Gravity Tip: market your products to the right audience with the right message and you will continue to generate revenue.
Test and modify the checkout process
Yes, the Abandon rate is a thing!
It reflects the number of people that abandon the cart after adding products; due to various reasons.
One common reason for this is the complicated and long checkout process.
Simplifying the checkout process is a crucial step in your sales funnel, where you require much A/B testing and implementing customization strategies to get it right.
While you can certainly trust standard checkout platforms like BigCommerce, still tweaking the process in favor of your customers may yield better results. Besides, that’s the very reason why all standard checkout platforms offer customization options.
Integrate cart abandonment software
Taking from the above point, if you are a victim of a high abandon rate, you need to integrate cart abandonment software to help improve conversions.
Fortunately, many standard eCommerce platforms offer it as a package functionality. The software specifically works with the information gathered from the abandoned users to create follow-up emails including engaging content and even coupon codes to lure them to get back to complete their orders.
Remember, decreasing abandonment rate is an important part of boosting conversion rate and according to one research it may help boost conversion rate by as much as 30%
Again, this is meant to offer users interactive shopping experience.
Today, eCommerce platforms, even many general services businesses like SEO services in Dubai are using automated chatbots to improve their customer engagement and boost conversion rates.
Market your platform as safe
While this may not sound as important, it is a big deal!
Although customers are increasingly trusting online shopping, there is still a large silent majority who are looking for safety and guarantees to build trust on your website.
Here are some tips to improve customers’ trust in your eCommerce website’s safety measures:
- Install SSL across the website especially at checkout
- Give small images of the payment options available
- Display security badges clear and visible at the checkout page to make customers feel safe for online transaction
Implement a rational site structure
Your product pages should be structured in a rational and logical matter.Customers today don’t like to browse through the entire site to find their products. If they aren’t able to locate the desired products within the first few pages, they will leave, period. So, make sure your website is structured logically with clear categories and visible banners showcasing the top-selling products.
10. Enable Guest Checkouts
Yes, you would love to sign up as many visitors as possible, but you can’t force them without losing them altogether. So, instead of forcing them to register, just let them checkout as guests. In any way, you would have their email and name for your record when they checkout.
So, why unnecessarily repel them by forcing them to register?
Conversion rate optimization is an important (I believe the most important) metric of success for any eCommerce website. While, on the surface, it entails a large and complex process to optimize for conversion rates, in essence, you only have to think from customers’ perspective.
There is no rocket science here.
All you need to do is to offer customers an engaging, interactive and personalized experience to encourage them to make the purchase. Start implementing these steps and you will be well on your way to achieving that initial 2% conversion rate.