With offline stores across the globe stalled due to the Covid-19 pandemic, shoppers and businesses adopt eCommerce like never before. The number of global eCommerce firms ranges between 2 and 3 million, and to get a foothold in the sector, learning how to improve your eCommerce conversion rate is paramount.
Online stores are all about generating revenue. Yes, website traffic is critical, but there is little point in spending on getting traffic, but hardly any sales through your online store. That is why conversion rates are so essential for any eCommerce store.
An eCommerce conversion is a site visitant turned into a customer. Attempts to enhance your eCommerce conversions are generally focused on the product page or pages and the checkout method. For example, a site that gets 1,000 visitors and makes 20 sales. Your calculation would be (20 / 1,000) x 100. That provides a resulting eCommerce conversion rate of 2%. While knowing your website’s conversion rate is important, understanding it is crucial.
What is your sector’s conversion benchmark?
Millions of online stores that operate globally are spread across many sectors, offering various products and services. However, conversion rates vary by industry. A study by Littledata found the global average to be 1.4% across multiple sectors and devices. However, it would help if you dug a little deeper to understand your site performance genuinely. It is imperative to keep track of your industry’s performance and update yourself. You can do so by learning how eCommerce conversion rate benchmarks stack up within your industry. Finding a standard for your sector is essential, as it aids you to optimize your sales funnel to drive more conversions.
Tips to improve your eCommerce store’s conversion rate
Acknowledging an obstacle is the first step towards solving it. If you have found your conversion rate, you have already taken that first move. Then what? The next step is to implement tactics that can help boost your online store’s conversion rates.
Create A Seamless User Flow
User flow defines a visitor’s journey on your website as they accomplish a task. Do not make your prospects strive on your web page to do so. In eCommerce websites, a user journey can have multiple steps before they make an actual purchase. These steps can be called micro-conversions, including signing up for your website, adding a product to cart, clicking on a commission link, etc. Micro conversions should direct the visitor towards the primary conversion, that is, a purchase. This journey has to be seamless and avoid any friction that might result in visitors’ expulsion from the sales funnel. Audit your current user flow to identify the bottlenecks that add friction for the visitor to enter the funnel and prevent them from accomplishing the micro conversions.
Enhance Your Website/App User Experience
E-Commerce User Experience (UX) is about how visitors perceive your site after interacting with it. Ensure that your website has an intuitive User Interface that can lead visitors to the products they desire to explore. Having intuitive navigation, high-resolution product images on the landing page, correct branding, effective CTA buttons in place, a clear search box, and any loyalty program can further hook your visitors and persuade them to browse your website. Remember that satisfied customers generate new customers, which means more conversions. Users are likely to come back as you develop a bond of trust with them.
Build Responsiveness Across Devices-
Do not undermine the importance of your eCommerce website’s responsiveness across devices, such as laptops, tablets, and smartphones. Ensure that the UX is consistent and functional for each website visitor. Behaviour analysis tools such as mobile app heatmaps can be utilized for deriving behavioural insights on mobile. The Brothers Leather Supply Company, for instance, used a heatmap to analyze visitor behaviour on their product page. It revealed that product photos were the most clicked elements on the page. Considering the analysis, the company added more thumbnails and high-resolution images on its product pages and eventually increased their conversion rates.
Efficient Mobile Strategy
People on-the-go need a quick way to navigate, get the information they want, and make a purchase. Your mobile strategy has to get them to do it quickly, painlessly, and efficiently. If your website is not optimized for mobile customers or you are not offering a mobile app for your store, you are losing a significant revenue amount. Ensure your website caters to your mobile users’ needs by avoiding information overload. This will improve its usability and drive up conversion rates. Your mobile app can enable you to keep your brand in front of your users’ attention span. With push notifications and an ability to know customer buying patterns and behaviours in a much better way than a website, mobile apps can be a significant weapon in the arsenal.
Address Customer Pain-points Upfront
From the security of online transactions to returns and refunds, buyers have so many reasons not to buy from you. As a business, you need to be a step ahead. If you offer free shipping or an excellent return policy, highlight these and address these potential objections upfront. That is a fabulous way of improving your conversions by disarming potential concerns a website visitor might have.
Conversion Rate optimization needs you to understand what makes people click. By taking a step back and assessing your website and its visitors, you’ll know what improvements you can make. And regardless of what people say, never settle for quick fixes. They don’t build your brand or enable you to grow. Rather than focus on a holistic strategy to boost your sales, build your brand, and create online experiences that users crave. Remember, If a well-thought testing strategy powers your business, nothing can stop you from improving your conversion rate.