It is known that the online store usually has a conversion rate that is around 4% on average. But how can this be improved?
Sales are everything when it comes to eCommerce. It is the goal of all your efforts- You can try everything to attract visitors to your website through advertising, consider SEO strategies, produce, and invest in videos for social networks to attract customers to your store. All that traffic doesn’t matter much if we don’t hit our sales goals.
This is where conversion rates come into play: Converting general traffic into consumers is of the utmost importance. Keeping track of how many site visitors make a transaction and testing the changes on your website will help you build a store that becomes a money-making machine. An example of this is Amazon most searched items.
So, let’s look at some of the most effective ways to increase your eCommerce site’s conversion rate, improve your sales process, and be better than the typical conversion rate.
What is the conversion rate in marketing?
The E-commerce conversion rate is the percentage of visitors to your website who have made a purchase from the online store in each period.
In short, what the conversion rate measures are the percentage of visitors who become customers of a company.
Here’s a quick example: If your online store gets 10,000 visitors and 100 conversions in the same period, that means your store’s conversion rate is 1%.
A conversion occurs when you get a visitor to take any action on your site, which means that conversions can be more than just sales.
An e-Commerce conversion can be:
- A sale of a product.
- Add products to cart or wish list.
- Email subscriptions.
- Actions on social networks.
- Any KPIs that your company considers valuable.
Now that you know what eCommerce conversion rate means, let’s discuss how to improve your store’s conversion rate. Tracking this information can help you find where you could optimize your online store so that more site visitors become consumers of your products, services, and content.
How to increase conversion rate in eCommerce
The ability of an e-commerce site to convert users into business customers depends on a combination of several factors.
Some of these factors are related to the design of the site itself:
- Product catalog: create an attractive product catalog that meets the user’s needs and invites them to consume your products.
- Prices: make sure your offer is not ridiculous, and adjust the price and value to the expectations of your target audience.
- User experience: make it easy for your visitors to understand what you sell, find what they want and help them make the purchase. A great way to do this is to sell your product on the Home Shopping Network. Read Ecomhalo’s guide to selling on HSN to get started.
- Transparency: avoid misleading offers and do not hide costs or try to cheat. Be honest with your customers to avoid cart abandonment.
There are other external factors that can also influence sales:
- Traffic qualification: having many visits is not a guarantee of success, make sure you attract the right potential customers to your store.
- User Trust – Make your store look professional and trustworthy to gain the trust of your potential customers.
- Characteristics of your sector: keep in mind that some sectors have longer customer purchase decision processes than others due to competition, price range, or product type.
The best way to increase your conversion rate is to optimize your store for conversions while improving the quality of your traffic.
Optimize your conversion rate and take off your sales
Big companies are constantly testing changes to their site to continually improve their conversion rates. This is a telltale sign that it takes time and effort to improve your website conversions, even just a little bit.
That said, there are several reasons why your conversion rate may not be as high as you’d like or could be.
While the tips we’ve discussed throughout this article should be enough to get you moving in the right direction, you should always be looking for ways to improve your site as well as your back-end processes.
To do this, you must be in permanent contact with your team and with your clients, both with those who are satisfied with the services you offer and with those who are not so satisfied.
Once you’ve identified an issue that may be causing a drop in conversions, take the time to fix it, leaving everything else as is. Once you have resolved the issue, you can move on to the next area of improvement and keep going until you’ve created a well-oiled machine that converts.
In closing, it’s important to recognize that every eCommerce business is different, as are their customers, and therefore what may work for one business may not be as useful for another.
Implement these strategies, optimize your metrics, test, and validate your results. You will surely see a significant increase in the conversion rate of your online store.