As an eCommerce retailer, you might be putting all your efforts to ensure that your products get found by a large number of people. For this, tracking metrics like website traffic and the cost of your marketing campaign might be a regular activity. Despite this, with the average eCommerce conversion rate being only 2.04 per cent as per HubSpot, the rant about poor sales is real.
An essential question in this regard is- do you measure your conversion rate like top CRO agencies? To ensure that both of us are on the same line, let’s run through a quick scan of what is conversion rate to learn how you can optimize the conversions for your eCommerce store.
What is Conversion Rate?
Conversion rate optimization is the process of increasing the percentage of visitors who take the intended action on your website. This action can be anything from dropping an email address, downloading an eBook, filling a form or buying a product.
Conversion rate optimization involves analyzing the visitor movement on your website to understand their behaviour and working on the areas that act as a hindrance to conversions. In simple words, conversion rate optimization helps you make the most of the visitors you already have. It is a considerably important metric as it helps you to decrease the cost of acquiring new ones.
Do I Need to Optimize My Website for Conversions?
As an online retailer, it can be challenging to identify whether your eCommerce store is doing well. Even if two brands sell the same products, there can be an immense difference in their sales. It is because of the way their visitors see and feel about their website.
As an eCommerce seller, the quality of your products isn’t all you need to rely on. In fact, people get to know about your product’s quality only when they buy them. To convince your customers to purchase your products, you need to make sure that buyers find what they are looking for, right in front of their eyes.
Here are 5 tips to aid you in your eCommerce website’s conversion rate optimization-
1. Add Credible Elements to Your Website
As an eCommerce retailer, winning the trust of your prospective customers lays the foundation of improving your conversion rate. Mind it, you only have a few seconds for this.
Here is a list of factors that add to the credibility of your website and help you optimize your conversion rate-
· A secure website that buyers can share their credentials with
· A contact number they can immediately call on
· Product reviews from people who have actually bought your products
· A transparent delivery policy
2. Highlight Your Value Proposition
What sets your brand apart from thousands of other eCommerce companies? It is precisely the reason you appeal to the rationale of your buyers. Your value proposition should instantly catch the attention of your visitors. Don’t hesitate to spend some time in creating one for your brand. After all, it gives identity to your brand, helps your visitors correlate and establish a relationship with you.
Pro tip-To ensure that your customers can relate with your brand, your value proposition should be the right blend of unique and common. If you are optimizing the conversion rate for your eCommerce site, ensure that your value proposition gets the limelight it deserves.
3. Provide Customers What They are Looking for
If you want to bank upon the high number of visits on your product pages and transform them into purchases, you need to ensure that your page provides answers to all the questions that pop up in the minds of buyers. Your product page mainly has has two parts-
(i) Product images- If you are serious about tapping the full potential of your eCommerce website, you need to ensure that your product images are stellar. Invest in high-quality images to provide a zoom-in view of all your products. Make sure that your images showcase the product from multiple angles. In addition to product images, a lifestyle image would be a plus.
(ii) Product description- Since buyers are not able to see the product, it is important to give product details and give them their little dose of conviction they need with the help of product copy. Furnish crucial information about your product, including its material, colour and other significant details depending on the nature of the product.
In addition to this, make sure that the checkout process is smooth. If it leads the buyer to multiple pages, one after the other, they will not take long in leaving your online store without buying, resulting in a lost conversion.
4. Create a Quick Buying Option
There are times when a buyer wants to buy something quickly. In such a scenario, if you provide them with an option to instantly purchase the products they are willing to instead of asking them to go through a time-consuming procedure to register them on your website, they will appreciate your eCommerce store.
You can always ask the necessary details like phone number even in your quick buying option. The brownie point is, it will not only create an impressive image of your eCommerce website but also make your buyers visit again.
5. Convince Buyers to Increase Their Cart Value
Conversion rate optimization is one thing. Once you have impressed them and induced them to buy from you, think of ways to increase their cart’s value. Cross-selling would be a great way to do this. Show them products that would complete the look. For instance, if a buyer is buying an apron, you can recommend products like tea towels, placemat sets and so on, depending on your line of products.
There is no doubt that people love discounts. After all, this is one of the main reasons why eCommerce marketplaces are such a big hit.
Pro tip-In addition to giving discounts to your customers while they are buying the products, you can grant them surprise coupons with attractive offers to motivate them to buy again soon. By doing this, you not only ensure that your ‘customers’ revisit your site but also create a delightful experience for them that they would love to share with their friends, generating more sales opportunities for you.
If you want to establish yourself as a strong player in the eCommerce realm, the key takeaways are- build trust, help your potential customers to quickly find what they are looking for and induce them to act then and there. Remember, the less time they take to respond, the more it is likely to be your favour- result in a purchase.
The simple key to improving your conversion rate is to enhance your overall user experience. While optimizing your eCommerce store for better buyer journeys, put a buyer’s hat. Make your site free from clutter as too many options tend to confuse the buyers and don’t often result in a purchase. Identifying your conversion barriers is the bread and butter for making the most of your online store.
Give your potential buyers reasons to stay on your website and pamper them by making their overall buying experience memorable. See how a little effort goes a long way in creating loyal customers, a perennial income source for your business.
Want to make your startup journey smooth? YS Education brings a comprehensive Funding and Startup Course. Learn from India's top investors and entrepreneurs. Click here to know more.