Conversion rate is basically defined as the percentage of users who take the desired action. We can also say that it is the percentage of website visitors who buy something on the site or who actually became customers. For Example, An ecommerce coversion online shopping site is visited by 100,000 people during the month of December. During the month of December, 2,000 users purchased something from the site. Then, we can say that the site’s ecommerce conversion optimization is 2,000/100,000 = 2%.
In the online sales environment of e-commerce, the most important conversion in sales. Increasing your Ecommerce conversion optimization means that your turnover is increased with the same amount of traffic, which also means enlarge the effectiveness of your merchandise budget. The ability of an e-commerce conversion optimization site to convert the users visiting their site into customers depends on a combination of several factors as given:
- Product catalog: We can create a beautiful product catalog that adjusts to the user’s requirements and invites them to consume your products.
- Prices: You must make sure your offer isn’t ridiculous, adjust price and value to the expectations of your target so that maximum users can buy it.
- User experience: Just make it easy and flexible for your visitors to understand what you are selling, find what they want, and help them make an easy purchase.
- Transparency: Always avoid misleading offers, and don’t hide costs or try to cheat your visitors and customers. Be honest with your customers to avoid cart rejection.
Some external factors which can have an impact on your sales
- Traffic qualification: Having a lot of visitors on your site is not a guarantee that they will surely buy the product, be sure to attract potential customers to your store.
- User confidence: You must make your store look professional and reliable to gain the trust of your potential customers.
- Characteristics of your industry: Always keep in mind that some sectors have longer customer acquire commitment processes than others due to competition, price range, or the product type.
The latest survey and studies show that the average conversion rate of e-commerce websites is 2.86%. The average eCommerce website conversion rate in the US stands at 2.63% as compared to the global website conversion rate of 4.31%.
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.”- Jeff Bezos.
Always Add trust elements to your website and see your ecommerce conversion optimization increase. But it’s difficult for visitors to trust a particular site until or unless they don’t have any previous order with them. We can build their trust so they believe that they are in the right place to invest their money. Following factors can be considered
- Make it easy for visitors to verify the information you have uploaded on your site is accurate.
- Show that behind your site there’s a real organization.
- Highlight the experts in your management and in the content and services which are provided.
- Make them believe that truthful and genuine people stand behind your site.
- Design your site so that it looks professional.
- Update your site’s content from time to time.
- Avoid all types of errors.
Its Fact that “People coming to your website will either leave the website or stay within the first 5-10 seconds, “They want to immediately know that they are at the RIGHT PLACE to buy a product or not, That’s when they will stay and ecommerce conversion optimization happens with site experts, especially because you have great content they are actually looking for and can recognize it quickly.”
It’s much more complicated for a potential customer when browsing your website may not be able to find the relevant information customer is looking for and sometimes, they can simply be too busy to dig through the pages. They might feel easier to switch to another website to find what they are looking for. Live chat makes it quite simple for both customers and website experts. A customer can just tap on the chat window anytime they need assistance and will be navigated by the experts. Live chat representatives can see the activity of the customer and can help them by providing instant answers. The biggest advantage of live chat support over any other form of communication is that a single customer handling agent can talk with several customers.
“Communication is at the heart of e-commerce and community.” – Meg Whitman
If people are buying products from your site then let everyone else also know about it. People want to buy the products that others have used or still use and enjoy their benefits because People read and trust online reviews and testimonials. 92% of people read online reviews and testimonials when they want to have any purchase.
Maximum Two seconds. If your site takes longer than two to five seconds to load, it’s a fact that 53% of customers lose interest and leave that site immediately. Even if a delay of a single second happens can result in a 7% reduction in ecommerce conversion optimization. It’s completely true that In today’s age of instant gratification there are few things that are more frustrating than waiting for loading a website to load. There are few things you can do to make sure that visitor doesn’t leave your site because of slow speed.
- Always Check your hosting plan from time to time.
- Optimize images for mobile and web.
- Always Go responsive.
Test your site’s baseline speed.
For an e-commerce site making $10,000 per day, a 1-second delay could potentially cost you $150,000 in lost revenue.
The Term “free” itself has a surprising effect on acquiring behavior and a great relief for the buyers. One of the great ways is to offer free shipping to the customers which help them prevent any unwanted surprises at pay up. Most people believe that free shipping is the expectation and standard that anything less is a disservice to your customers. 90% of the customers always view free shipping as their top priority which will encourage visitors to shop online more often from their site.
86% of shoppers reject their shopping cart because of the cost of shipping.
Images are the one and only thing which can attract visitors to check and judge a website subconsciously. But Make sure if you must go with using large images on the homepage to choose carefully and try to catch the visitors attention immediately on opening the site and feel like doing shopping from the site.
For example, A visitor opens the site for buying shoes from any online website but at a sudden moment there were ads for Clothing that attract the visitor to explore it and have things in the cart.
Ecommerce Personalization can be defined as the process of providing individualized happening on eCommerce sites by high-powered showing the approved product content, and the specific offers and discounts based on previous actions, browsing behavior, purchase history, demographics, and other personal data of the customer. Personalization is quite important to merchants looking for, not only engaging shoppers but also to raise frequent customer pick-up, drive sales, and which leads to increased conversion.
Marketers see an average increase of 20% in sales when using personalized experiences. (Monetate)
Boosting customer’s reservation by just 5% can easily increase profits by 95% and it’s 5-25 times more expensive to acquire a new customer than to reserve a current one. Most marketers aren’t coders or designers, but it doesn’t mean you can’t understand the basics of the tech that plays a huge role in your ecommerce conversion rate and retention. This means you must know how to optimize an image. Images account for more bytes than any other part of a website, especially the e-commerce sites, their size, resolution, and complexity can make or break your web performance, that’s why optimizing images is one of the best ways to improve website performance and conversion. For every website image ecommerce optimization should be a top priority for any marketer, mainly marketers looking to convert visitors to buyers on their website through this clever hack.
At this time social media helps to grow your business at another level, so you must ensure that your brand has at least some type of presence on the various Social media platforms like Facebook, Instagram, Twitter, and even eCommerce companies are turning their business towards social media so that they can directly sell their products to the customers.
This is an especially very profitable venture if the products you offer to fall in line with the type of content that’s typically shared on Facebook and Instagram i.e. if you’re in the clothing, fashion, or appetizing industries or really any industry that completely relies on heavily visual presentation than you should be looking to make your Social media profile shoppable.
The main objective of any online website is to help the shoppers get to what they want faster and easily and without running into unnecessary complexity which can block up the path to purchase. There is a need to focus on the user experience by providing them various shopping categories, filters, and comparison capabilities through which they can easily go with their choice and find the right thing.
By improving the descriptions of the product automatically improve conversion rates. The product description is basically the retail carbon copy which is used to describe a product’s value theory to probable customers. A compulsory product description provides customers with details around its features, quality, etc. It helps to generate a sale. The quality of a product description can break the sale, especially when it doesn’t include any of the information a shopper needs while making a purchase decision.
Providing with the key product details is hypercritical if you want the shopper to click “Add to Cart” and differentiate your ecommerce conversion optimization website from the competition around. For example, if you want to buy any one-piece dress then you can easily get to know everything about it like the length of the dress, the material used, available colors, etc by checking its description.
The return policy always builds confidence and trust in your customers because if a customer isn’t happy with a purchase they have done from your online is not up to the mark, then still you have a chance for them to be satisfied with the customer service you are providing in form returning the product which ensures customers continue shopping with your business again in the future.
Many large stores like Myntra, Flipkart, Amazon, and Nykaa will let you return almost anything at any point in time. While on the other hand, smaller e-commerce stores tend to have a strict set of guidelines for what can be returned within a limited period of time. An all-inclusive returns policy will help you to reduce the time and money you spend dealing with the returns by minimizing the number of overall returns you have always helped in building trust with your customers and automatically increase your ecommerce conversion optimization.
66% of shopper’s check an online store’s return policy before making a purchase, which means that this element is important to well over half of your customers.
The regretful truth is that the majority of your visitors leave your site after putting items in their carts without making a purchase. These things are happening to everyone, and these visitors can be won back with Cart abandonment software, Software that used to track visitor’s journey on your website to capture emails and track shoppers’ activity while they using your site, watch for them to abandon a cart, and email them timely to re-engage with these customers and remind them to complete their pending purchase.
The typical shopping cart abandonment rate for online retailers varies between 60% and 80%, with an average of 67.91%.
Every eCommerce business is different from others, there may be a number of reasons that the conversion rate of your online e-commerce store may or may not be high as per your expectations. While the tips we discussed throughout this article will be a good move for one to move in the right direction.We hope that these tips help you to enhance ecommerce conversion optimization. We wish that you will find the content mentioned at our website useful for you and helps you to thrust your website to a higher level and attract more shoppers and finally turn them into the clients/ customers of your website.
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A team of Digital Marketing experts led by Vijay Sood.