In today’s time, more and more people are investing their time in learning about the e-commerce world. If you are one of them, you must have wondered about the conversion rate. Why is it essential? Why has CRO become one of the most trusted practices among digital marketers? This article will touch upon several vital aspects of the conversation rate that you can eventually imply on your eCommerce website. So please give it a thorough read.
Conversion rate is one of the most critical metrics you need to keep a check on while building an eCommerce business and increasing revenue. As of today, every eCommerce industry is trying to understand how to increase conversion rate/ how to increase conversion rate in retail. Keep reading this article to understand the conversation rate in detail. In this exponentially growing digital world, the following specific dos and don’ts will encourage customers to buy from your eCommerce website.
What Is a Conversion Rate?
Keeping track of the conversion rate helps marketers and business owners measure web page performance. To define a website’s conversion rate, one can say that it is the percentage of visitors that complete a desired goal out of every other user who visits the website. Achieving the desired goal converts the website visitors to customers.
The desired action impacting the conversion percentage is different for every eCommerce website. For example, the preferred step can be completing a purchase. Customers look forward to what the online store offers and make their preferred purchases accordingly.
How to Check the Average Conversion Rate for a Website?
To understand and quantify the conversion rate of an eCommerce website, one has to be able to calculate the total page sessions and orders placed on your website for a particular time period. Calculating the conversion rate is a simple process. Dividing the total number of conversions (orders)/ by the total number of sessions multiplied by 100 will provide the website conversion rate. For example, if your eCommerce website is getting 6,000 visitors and 120 conversions for a specific period, that means your eCommerce website’s conversion rate is 2%.
Suppose you have multiple conversion possibilities for a website. In that case, you can calculate this conversion rate through two exceptional methods:
Calculate each conversion rate separately for the specific pages/websites where the offer has been listed.
Otherwise, use all the sessions of the entire website and find the total combined conversion rate for the whole website.
How to Increase Conversion Rate?
The 10 best ways to increase the conversion rate on your website:
To learn how to increase conversion rate of an eCommerce website, So far, the internet is filled with notable analyses about how the conversion rate of a particular website can be increased. Below is a list of the most recommended and used techniques to improve a website’s conversion rate.
Adding pop-ups to your site:
According to the significant statistical analysis, the conversation rate for all pop-ups is 3.09%. Pop-ups can catapult the conversion rate if one can do it correctly.
Tips to get the highest conversion rate from pop-ups:
- Follow the trial and error method for offers until you find the best offer that works best for your website.
- Have a 30 second delay on the pop-up. With a 30 second delay, it is less likely the visitors will be annoyed, and the chances of increase in conversion rate.
- Visitors should be able to close the pop-up quickly.
- Lastly, it is vital to set up a cookie. Usually, all pop-up tools provide cookie provision. So the pop-up only appears once per user.
Combining all the factors mentioned above can significantly boost the conversion rate of any website.
No need for unnecessary form fields:
Every eCommerce site needs to fill out some forms. For example, initial registration on the website form, then filling in address and payment details while purchasing a product. But, sometimes, visitors become skeptical about filling out the record as it has way too many required fields that need to be filled.
Too many fields to be filled in can reduce the conversion rate. So, to improve the conversion rate of an e-commerce website, remove all the unnecessary form fields, leaving behind only specific form fields. This move will be crucial to accomplishing your business goals. You hit the right balance between signups and close rates. And to acquire critical leads, ensure that the form fields you use on your eCommerce site play a vital role. It would help if you tried out Xpresslane fast checkout. There are not many form fields to fill.
Source: Nielsen Norman Group
Must have reviews, logos, and testimonials.
A successful eCommerce website aims to make customers comfortable purchasing without worrying about spending their money. Any customer doesn’t want to be the first to buy a product. For that reason, providing testimonials/reviews from previous customers is beneficial. Add logos of companies and marketers you have worked with or exchanged business with on the website’s homepage. These testimonials, logos, and reviews instantly build new visitors’ trust.
Source: The Daily Egg
Sometimes, websites that offer many distractions to visitors can reduce the conversion rate. The landing page for the eCommerce website should be simple, easy to navigate, and concise. The website should stick to providing the information visitors need—nothing more or nothing less.
Follow the below-mentioned steps to implement a simple, concise, and easy-to-navigate website.
- Self-explanatory headings and subheadings
- Benefits and features of product/service provided on the website.
- Add reviews, logos, and testimonials.
- Lastly, combine the contents with visuals, which makes it easier for the visitors to understand.
The four factors mentioned above are majorly crucial in an e-commerce website that can precisely provide visitors’ information.
The initial steps of an eCommerce website are simple and easy to understand.
Visitors on the website want to finish the job they started. So whatever the eCommerce website has to offer, it should be straightforward. For example, if the visitor has to make a purchase, start by asking for an email address. Eventually, once the email address is received, you can provide the remaining form, which will help provide the additional information.
Even if the visitor doesn’t fill up the remaining form, the simple initial steps will help you store the email address. The simpler the initial stages, the greater the chances visitors will follow through and take the desired action on the eCommerce website.
Adding social media platform for sign-up service:
In today’s time, consumers like their eCommerce websites to be quick and productive. For this very reason, alternative logins have become very popular these days. Rather than creating an account from scratch, visitors can log in using their pre-existing Google, Facebook, or any other account. Using a social media platform for signup makes work easier. Eliminating the step of filling out the signup form altogether eventually increases the conversion rate.
Add live chat to the eCommerce website.
Live chats are an excellent way to connect with website visitors who want to buy the service/product but can’t make up their minds. Visitors on the eCommerce site might have queries or doubts about their purchase. Adding a live chat to a website is a perfect way to help the visitors and eventually help them to take the final desired action.
Adding a live chat to the website is very simple and brings a much-expected conversion rate boost. Voila!! You have a new customer.
Try different offers.
Landing page design and other related factors are essential, but they are not as critical as the products offered by the eCommerce website. The offer provided by the eCommerce website has the most significant impact on the conversion rate. If your eCommerce website has a meagre conversion rate, cycle through different offers until something clicks with your target audience.
Offering what you provide will resonate with your customer eventually, but it is vital to keep experimenting and keep track of the results to increase the conversion rate. Visitors looking for an offer shouldn’t feel like they are going through haywire to find the offer. The offer should be visible on the different product pages.
Business owners and marketers are aware of the fact that, generally, consumers avoid risk. Consumers won’t put their money at stake until and unless they are considerably sure of what they are paying for. Money-back guarantees can mitigate this issue. Providing money-back guarantees helps move past initial trust and objections customers might have. A money-back guarantee helps build a valued customer relationship as customers can trust the eCommerce website better and feel more secure about their investment. Also, it helps increase the conversion rate.
Adding a countdown timer to the landing page
It is common for humans to become anxious when they realize that time is running out. Adding a countdown timer on the landing page can help business owners/marketers capitalize on this feeling. Some significant research has shown that adding a countdown can catapult the conversion rate of an eCommerce website. Your answer to how to increase conversion rate- can be a ‘limited offers”/Sale banner. Add a countdown timer with limited offer sales and immediately boost the conversion rate. We recommend you try this out on your product page for your eCommerce store.
We hope these ten most commonly used tactics, which benefit the leading eCommerce websites, will help your website increase the conversion rate while implementing the techniques mentioned above.
What is a Good Conversion Rate?
Conversion is a critical element of your paid/organic approach; in the end, if you’re no longer turning visitors into buyers/lead/consumers at a high fee, what are you advertising for? Conversion charge optimization allows you to maximize each cent of your PPC spend using finding top prospects that take action. Also, follow the best SEO practices to reach out to the target audience.
But what is a reasonable/best conversion rate? If you’re already accomplishing 3%, 5%, or maybe 10% conversion charges, is that as high as you’re going to go? But what is reasonable? Conversion rate? Across industries, the average touchdown page conversion rate is 2.35%, yet the top 25% convert at 5.31% or better. As you have just learned how to increase conversion rate, you must understand what accounts for a desirable conversion rate. Knowing it will help you set the right goals for your eCommerce business.
A good conversion rate is essential for a successful business. Similarly, good sales play an equally significant role in making the business successful. Now it’s time to collect a few insights about- how an online business owner increases their sales conversion rate.
How do you increase the sales conversion rate?
Once you have created an attractive website, it needs to drive traffic, bringing new leads that can eventually be converted into potential customers. For the eCommerce website to be successful in sales, the conversion rate should be exemplary.
According to the eCommerce study, a good sales conversion rate is only 1.80%. But to achieve this golden number, the eCommerce website needs to outperform its competitors. Below are four striking tactics that can increase the sales conversion rate.
Plan a sales funnel:
It is essential to chart out a nicely-described route to transform your prospective customers into qualified leads and dependable clients. The sales funnel is a process of visualization of leads who are in the process of decision-making. It’s broader on the top, considering the possible visitor mindset, and, as you go deeper, it has described ranges that begin with awareness and cease with loyalty.
Helpful and understandable product descriptions:
To improve the sales conversion rate, it is essential to have a well-written product description page. Visitors to eCommerce websites are looking for detailed descriptions of products/services. So it is necessary to make sure that products and services offered by the eCommerce website are elaborately explained.
Website speed should also be optimized:
Website speed impacts the sales conversion speed marvelously. People are living in an extremely fast-paced world, and everyone has the motive to do the maximum amount of work in a limited time. Due to this busy world, people’s attention spans have reduced over time. The short attention span also applies to the person waiting for your website to load. The delay in the page loading will decrease the conversion rate. To analyze your website’s page speed, you can use the PageSpeed Insights tool by Google and improve your website’s performance for free.
Use the best SEO practices.
Search engine optimization will let you rank better in the Search Engine Results Pages (SERPs). And while you rank better in search results, you can also get more traffic on your internet site. This, in turn, can increase the variety of high-quality leads and boost your income conversion rate. To do this, you want to optimize your website and rank it higher than your competition’s.
We hope we have helped you understand how to increase the conversion rate for an e-commerce website. We have also provided insights about good conversion rates and how marketers and business owners can improve their sales conversion rates. While increasing the conversion rate for any website is a gradual process, the techniques mentioned above will surely help you increase the conversion rate for your website significantly. So try them out!
What factors affect the conversion rate?
In today’s e-commerce business world, conversion rate has the highest significance. Sometimes business owners and marketers can suffer losses if they don’t consider certain factors that affect the conversion rate. Those factors are as follows:
- Customer service
- A/B tests
- Poor product data
It is vital to have enticing pictures of products and attractive prices, and the user experience should be smooth. Working on the above factors can provide a dependable user experience and improve the conversion rate. Also, check out 20 Powerful Strategies on How to Increase Online Sales.
Why do conversion rates increase?
Increasing the website’s conversion rate is gradual, but a positive approach based on proper research significantly increases the website’s conversion rate.
To improve the conversion rate, business owners need to work on factors like adding pop-ups to their site and not needing unnecessary form fields. They must have reviews, logos, and testimonials; they must have eCommerce social media platforms for sign-up service, and there are several other factors a marketer should come across while researching how to increase conversion rate.
How do you increase funnel conversion rate and speed?
Creating a conversion funnel is vital for your business to develop. So you’ve laid down the planned path that follows a step-by-step process for attracting the target audience of the eCommerce website and eventually changing them into customers.
You’ve put all your time and energy into attracting high-quality traffic by doing extensive research, enticing the visitors to the website to make a purchase, nurturing them, and eventually leading more traffic toward your website.
The central part of increasing the funnel conversion rate and speed is analyzing every process step. It will help you to find out what is working for your website and what is not working for it. In simpler terms, continuous testing, tweaking, and retesting can increase funnel conversion rate and speed.