The conversion rate of your business decides whether you are winning your race to make the business thrive or are taking a down hit. For eCommerce businesses, keeping track of conversion rates and working towards excelling is of utmost importance.
Today, per the estimate, there are between 2 to 3 million eCommerce companies worldwide, excluding China. Irrespective of whether you are offering your service across your country or on a global expansion, you are open to a big competition. So, it becomes essential to take a step to increase the eCommerce conversion rate to stay ahead of the crowd.
So, to help you attain that, here is a brief understanding of how you can increase eCommerce conversions with simple tips.
What Is An eCommerce Conversion Rate?
An eCommerce conversion rate is the percentage of site visitors who take a desired action, such as making a purchase. This could be anything from clicking on a product to adding it to their shopping cart, completing the checkout process, or even just visiting the product page.
Conversion rates vary greatly depending on the type of eCommerce store and the products being sold. However, a good rule of thumb is that 2-3% is considered a good conversion rate. This means that for every 100 people who visit your store, 2-3 will complete a desired action. If your conversion rate is lower than this, you may want to look at ways to improve it.
A simple definition of the conversion rate states it is a percentage calculated among total visits to a website and the count of traffic that bought or availed something from your online store. The simple calculation formula is "Conversion Rate= Number of Conversion Actions/Total Number of Site Visits."
In eCommerce businesses, specific attributes are accountable as conversion actions, which include:
- Signing up for the email newsletter
- Adding items to a Wishlist or cart
- Making an online sale
- Social media sharing
Even with enormous efforts, most eCommerce companies are performing poorly in acquiring conversion rates, including poor site, unawareness of the target audience, poor copywriting, CTA needs to be clarified, and many more problems. There are a few ways to fix these issues, which will be discussed in the following section.
Factors that Can Influence eCommerce Website Conversion Rate
Many factors can influence an eCommerce website’s conversion rate. Some of the key ones include:
1) User Experience (UX)
The user experience of a website is critical in influencing its conversion rate, as users are more likely to make a purchase if they have a positive user experience. Factors such as page load speed, navigability and ease of use can all affect UX and ultimately impact the conversion rate.
2) Mobile Optimization
With more people shopping on mobile devices, it is essential that eCommerce websites are optimized for these platforms. This means having a mobile-friendly design and ensuring features such as product images, descriptions, payment options etc display correctly on smaller screens. If not, this could lead to a high number of abandoned shopping carts and decreased conversions.
3) Email Marketing
Email marketing can be an effective tool for driving conversions. Strategic email campaigns, such as newsletters, promotional offers and product updates, can help to engage customers and encourage them to make a purchase.
4) Search Engine Optimization (SEO)
SEO is essential for ensuring that a website appears in the search engine results pages (SERPs). This visibility is important for drawing in new customers and increasing conversions. It is therefore advisable to ensure that your eCommerce website is optimized for relevant keywords and phrases so it ranks higher in SERPs.
5) Social Media
Social media remains one of the most powerful tools for driving conversions. It is a great way to engage customers and increase brand visibility. By creating interesting content that appeals to your target audience, you can draw them to your website and convert more of them into paying customers.
How To Increase Your eCommerce Conversion Rate?
A reasonable eCommerce conversion rate ranges between 2.5% to 3%. With even the minimum efforts to grow your brand, acquiring this conversion rate will be simple. But to excel and stand out of the crowd, you need to go beyond 3%, and that is where you will need these practical eCommerce conversion tactics to implement and accelerate the results:
Implement a Good Website/App Design and Attractive Brand Content
The key is to connect with the target audience by giving them an attractive catalog of your products. As an eCommerce company, your website or application is the face of your business, and you must improve its appeal.
A poor app or website design, and lack of quality and attractiveness in the content, resulting in an increased bounce rate and exit rate on your brand platforms. You must hold onto your potential customers to encourage them to buy your products.
Make your site/app appealing with good banner designs, direct CTAs, easy-to-access tabs, and more. Take inspiration from competitors and bring in something unique to improve your platform. Moving forward, you must have a persuasive copy to engage the potential customers to your website.
The design only can't do the job, as you will need a catchy or quirky banner and following headers to grab their attention.
Add High-Quality Images and Videos of Products on Your Website/Application
Unlike brick-and-mortar stores, customers cannot touch and feel the things they buy from eCommerce stores. They rely on reviews, ratings, and product images to judge the quality of it. So, you should not just add high-quality images and videos for your products but also multiple photos to give a clear idea to the customer on what they are buying.
The better they visualize the products through your images or videos, the higher the chances they will buy them from you!
Introduce Free Shipping on All Orders
Who doesn't like to save a few bucks on shipping? When running an eCommerce business, it becomes essential to consider what your target audience expects. They expect free shipping on most of their orders. But that might not be possible for products of all sizes and price ranges.
Therefore, the best way to introduce this feature to your business is by increasing the prices of small or low-cost products by a reasonable amount to cover the shipping expenses. But make sure not to go too far in increasing the cost. If the shoppers notice a vast difference in your site's pricing from one of your competitors, they will head out.
So, be strategic in terms of increasing the cost of products, as this might be a key to increasing your eCommerce conversions magically.
Maintain an Easy Navigation on Your Website/Application
Poor platform navigation is one primary reason for increased bounce rates for most eCommerce businesses. If you are not helping your visitors quickly find the product they are looking for in the cosmos of items listed under various categories in your store, they are most likely to look out elsewhere.
Build category tabs on your brand platform to make it easy for potential customers to navigate their way to the section they preferably want.
Introduce Live Chat Customer Support Service
Prompt responses to customer queries are the key to running an eCommerce business successfully with higher conversion rates. A live chat feature on your brand platforms makes it easy for potential customers to get details on specific products, seek support on existing orders, and get answers to related queries.
When you respond well to the customers, your brand image and trust enhances. And customers would more likely prefer to buy products from stores with responsive customer support service facilities. Hence, this is one of the integral inclusions for you to get the conversion eCommerce business needs.
Ultimately, what matters most when it comes to maximizing conversion rates on an eCommerce website is understanding the needs of your customers and tailoring the experience accordingly. Having a well-designed site and leveraging data-driven insights will help you get closer to achieving a higher rate of conversions. It's also important to remember that tweaking your customer journey just a bit can have major repercussions; you could even double or triple your return on investment if done correctly! Remember, there are no shortcuts when it comes to making these changes, but once implemented, you’ll see the results over time. To give your eCommerce business an edge over competitors, consider taking the necessary steps to boost conversions. And once that’s all said and done, don’t forget about simplifying order fulfilment - Simpl has got you covered! Get in touch today and we’ll help you attain quick turnaround times for deliveries through Amazon FBA as well as other prominent delivery services such as FedEx and UPS.