A recent survey suggested that the average eCommerce conversion rate is around 2%.
Sounds fair enough?
Now consider this.
On average, a theatre has 250 seats. And each theatre has around 5 – 10 stores. Yeah, that’s where you get the overpriced popcorn and fizzy drinks.
So, if a fully booked theatre had the same conversion rate as that of an eCommerce store, those sellers would be competing for 5 customers. Now, that isn’t a very motivating statistic.
That’s the same with your eCommerce store.
People visit your site. That means the theatre is full. But they don’t really buy anything. And just 2% of people buying from your store won’t translate to profits.
So, what do you do then?
You find out your eCommerce conversion rate and then take measures for eCommerce conversion rate optimization.
To sell more and get more profits.
But that’s not all.
Spending resources on SEO, PPC campaigns, website development, and UI/UX design will go waste if visitors don’t convert to customers.
- The easiest lot to target for a marketing campaign are those who have made purchases with you in the past. That’s the power of remarketing. With higher conversion rates, you get a wider database for remarketing.
- When you sell more, you build a brand image. That’s like free publicity. You get word of mouth recommendations when you sell.
What to Optimize?
Okay, it would be best if you increased your eCommerce rates. But, what exactly needs to be optimized? Landing page? Checkout page? Cart page? Or something else?
Well, everything. It would be best to optimize every point from where your visitor is likely to make a purchase. It would be best if you overcame the apprehensions of your visitors.
Before we start discussing how to improve your conversion rates, you need to know what a good conversion rate for eCommerce is?
In an ideal world, your conversion rate should be 100%. Whoever comes to your website should be buying your product.
But that’s not how the world runs.
While conversion rates differ based on industry, here are some standards for you to consider –
Now, that doesn’t seem like a far-fetched dream. Compare it to your conversion rate.
Your conversion rate (if you don’t already know the figure) = number of conversions
———————————— x 100
Total number of visitors
But, before you think your eCommerce conversion rate is great when pegged against the average, hear this.
The best performing websites often have conversion rates of 11% and up.
Now, if you want to compete with the best, you need to be the best.
So, let’s tell you how it is done.
How to Optimize?
How to increase conversion rate eCommerce is not just a question of what should be done. It also calls for attention towards what should not be done.
Here are the 15 top tips for terrific results.
1. Free & Fast Shipping
The four-letter word ‘FREE’ is among the best motivators. And free shipping is always welcome.
Thinking of using slower shipping channels to save costs? Reconsider.
So, it would be best if you offered free and fast shipping.
How? Increase the price of the product if that’s your last resort. But, DO NOT let people think they have to pay extra for getting your product delivered. While Amazon is mostly to be blamed for the heightened expectations, that’s how psychology works.
2. Custom Coupon Codes
60% of customers said they loved receiving coupon codes. And the other 40%, I suppose, was too shy to admit.
Do we need to say any more?
Limited time custom coupon codes also create a sense of urgency. And motivate visitors to take immediate action.
3. Checkout Process
As you can see, there are multiple reasons why visitors don’t convert even after they have reached the check out page.
Millennials have an attention span of less than a goldfish. Please don’t risk it with a long checkout process.
Create a custom, streamlined, and simple checkout process.
You can also add a progress bar to let your customers know how far they need to go to place the order successfully.
48% of online retailers said guest checkout options helped increase conversion rates. Don’t force customers to create an account. You are anyway getting their email and other details for future contact.
Plus, make sure that you have multiple payment options and discount coupons are easily visible. 50% of British adults in a survey said they’d abandon the cart if the payment options are not what they prefer.
4. Cart Abandonment
Outbound links on your product page. Lousy UX/UI design. Non-responsive design. Confusing checkout.
All this could be contributing to abandoned carts.
But don’t worry. But 35% of that abandoned cart value is recoverable with proper optimization.
Remove outbound links on your product pages. Improve your checkout design (#3). And make sure your site is mobile responsive. (#10).
Make use of cart abandonment software to send emails. Throw in discount coupons and bank of coupon psychology to bring back your visitors. Thereby increasing conversion rates.
5. Live Chat
Live chat can increase conversion rates by 40%.
If that isn’t possible, set up chatbots.
But whatever you do, don’t let your visitors feel that they cannot ask questions or they won’t get quick answers.
Your visitors have several concerns about making a purchase online. Identity theft, credit card theft, etc., are major deterrents in conversions.
Here’s what you need to enhance security and look the part –
- Install SSL certificate (It is a Google ranking factor as well)
- Show trust seals
- Offer secure payment options (add the logos of all payment partners to make sure your visitors know)
77% of website visitors feel the information they enter online is susceptible to theft and misuse. Don’t let the fear fail your selling strategy and pull down your conversion rates.
7. Product Details
Yours isn’t a brick and mortar store. Customers cannot ask you about the product. Either they find the information. Or they bounce. Make sure you have spotless and spell-checked product copies that overcome the buying resistance.
Inform, invite, and offer incentives and ignite the will to buy with product details to increase conversion rates.
88% of customer trust testimonials as much as personal recommendations
Social proof is solid proof to make your customers feel at ease. Facts tell, but it’s the stories that sell.
Other than the obvious psychological aspect, even stats suggest that 50+ reviews for products can increase conversion rates by 4.6%.
9. Return Policy
What’s worse than getting a product that isn’t what you wanted? A confusing return policy.
If your customers know they cannot return your product, they are bound to get more apprehensive about making a purchase.
66% of customers check the return policy before making a purchase.
It would be best if you had a simple and easy-to-understand return policy.
You need that policy to be easily visible. Don’t play hide and seek with your visitors. They don’t have time to find your policy.
Have a sufficient return window length.
10. Responsive Design
Your visitors are busy people with multiple devices. You never know which device they are using to access your online store.
And your store should be easily accessible on all devices.
Bigger buttons, hidden sidebars, and better-placed images can go a long way in helping reduce the friction that visitors face when accessing online stores on their mobile devices.
Friction is resistance to motion. In your case, it is the resistance to sale. Weight on your conversion rate. A waste of your efforts. Eradicate as much friction as possible.
11. Call To Action
Do you need too many CTA buttons on a single page? No, you don’t need to confuse your visitors.
But, you also don’t want your CTA buttons to be hard to find.
So, what do you need?
CTA buttons that are –
- Bold (easy to notice)
- Logically placed
- Clickable (Hyperlinks won’t count)
- Attractive (Contrasting colors work great)
- Commanding Action (Get for Free, Limited Period Offer)
Also, A/B tests have shown that forms and CTAs at the bottom of the page increase conversion rates by 304%. However, it would be best to carry out your own tests to find what works for you.
12. Browse Abandonment
89.1% of visitors don’t add anything to their cart when they first visit your online store. That means they cannot be brought back with cart abandonment emails.
That’s when browser abandonment campaigns come to the rescue.
They sure have a lower success rate than cart abandonment emails. But, they reach a wider audience. And they do affect your conversion rates.
But don’t go too overboard. Don’t spam your visitors. Don’t become the creepy stalkers. Persuade, but don’t push it too much.
13. Search and Filters
If you have multiple products and a wide inventory base, don’t leave it to your customers to find what they need.
Add a search bar so that customers can quickly find what they need.
Or add a filter bar so that customers can select the options and streamline the options.
But, if you have limited options, filters could be counter-intuitive.
Be the judge of when filters would bear sweet fruits.
- Too many product varieties? Yes.
- Chances of the filter returning one product for certain search queries? No.
- Chances of the filter returning no products in the category? Definitely not.
14. Images and Videos
When they’re shopping online, customers cannot see and feel your products.
How to counter that? Add images, 360-degree views, zoom options to see details, and videos if possible.
Visitors would give you just a couple of seconds to show them what you have got. Trust images more than texts and see your conversion rates shoot.
15. Measure And Test
All the above-mentioned steps will fail if you fail to test them.
If you don’t measure the results and test different copies and options, you’ll never know what works towards optimizing your eCommerce conversion rate.
A/B testing is the best way to find that out. And if you aren’t measuring and testing, you are just wasting your resources.
96% of customers that come to your website aren’t ready to buy. It would be best if you overcame buyer resistance.
eCommerce optimization isn’t possible without eCommerce development that is done without keeping the above-mentioned points in mind.
Ecommerce web development and your mobile application development are important factors that go a long way in helping you convert.
Improve eCommerce conversion rates with the above-mentioned tricks and tweaks and see your revenue and profits soar.