Every visitor who leaves your eCommerce website without making a purchase is a missed opportunity. So you’d like to improve the eCommerce conversion rate regardless of how you bring visitors to your online store – through content marketing, paid advertisements, affiliates, etc.
If many visitors to your website are not making purchases, it is useless. Every step, from the landing page to the checkout, needs to be examined to raise the e-commerce conversion rate.
Increased sales and profits may result from a high conversion rate, which indicates that more website users are making purchases. Offering customers a positive purchasing experience is crucial for businesses in today’s fiercely competitive market.
This article will look at nine tested techniques to help you increase your eCommerce conversion rate.
Here’s a closer look at what eCommerce conversion rates are, what is a reasonable eCommerce conversion rate, how they’re determined, and strategies for increasing them.
What is the Conversion Rate in eCommerce?
The conversion rate in eCommerce is a metric that assesses how well a website converts users into leads or customers. To put it another way, it’s the proportion of transactions to website sessions.
One of the conversions that e-commerce websites want the most is a purchase. Other types of actions are also included in conversion rates.
Conversions can occur when a lead-generating form is filled out, a customer care call is made, a newsletter subscription is made, an asset is downloaded, or another action is taken. In essence, conversation rates provide a wealth of information on the behavior of website visitors.
Conversion Rate Calculation Method
Divide the number of visitors that made a purchase (or carried out another desired action) by the total number of visitors to the site to find your eCommerce conversion rate. Afterward, multiply that figure by 100.
(Total Visitors who Purchase / Total Website Visitors) x 100 = eCommerce Conversion Rate
The conversion rate, for instance, would be 5/100, or 5%, if a website received 100 visitors in a day and 5 of them made a purchase. This indicates that 5% of website users took the required action (in this case, making a purchase).
(5 / 100) x 100 = 5% conversion rate
So, what constitutes a favorable conversion rate for an eCommerce store? Unfortunately, there isn’t a universal solution to this problem. Conversion rates can vary significantly based on a number of variables, including the kind of products you sell, who your target market is, and the degree of market rivalry.
Although some eCommerce websites have been known to reach conversion rates as high as 10% or more, a benchmark to aim for is a rate of 2-5%.
Importance of Conversion Rates in eCommerce
The efficacy of a website in converting visitors into paying customers is measured by the conversion rate, which is a crucial parameter for any eCommerce company. Businesses can improve the performance of their website by tracking this measure to acquire helpful information about the behavior of their target market.
Conversion rates are significant for several reasons, including:
Increased Revenue: An increase in conversion rate directly translates into more money for the company. The business makes more money as more customers take the targeted action, like making a purchase.
Customer Behavior Insights: Clear information about how users engage with a website is provided by conversion rates. By examining this measure, businesses can find specific pain points that stop customers from taking the necessary action. Companies can optimize their website by making data-driven decisions by understanding what works and doesn’t.
Better Return on Investment: Higher conversion rates indicate that companies are getting more returns on their website development, marketing, and advertising expenditures. Businesses can maximize their investment return by raising their conversion rate.
Competitive Advantage: Comparatively speaking, organizations with excellent conversion rates are more likely to be successful in acquiring and keeping customers. A high conversion rate can give a corporation a considerable advantage in a fiercely competitive market.
Improve eCommerce Conversion Rates: 9 Proven Strategies
Now for the exciting part.
After calculating your eCommerce store conversion rate, you could see that it could use a little help. Or a slight lift.
Creating excellent shopping experiences that give customers all the information they require to make informed decisions and effortlessly finish a purchase is essential to increasing eCommerce conversion rates.
Here are nine data-backed, practical suggestions that can increase your conversion rate and have a positive effect on your bottom line.
(1) Mobile-Friendly eCommerce Store
Businesses need to have a mobile-friendly website because a significant amount of internet traffic today originates from mobile devices. This not only enhances customer satisfaction but also significantly affects conversion rates.
In order to increase conversion rates, a mobile-friendly eCommerce website must take into account the following critical factors:
A website’s responsive design guarantees a seamless user experience across all screen sizes and devices.
1.2 Navigation Simplicity
A mobile website should have simple and intuitive navigation. Conversion rates increase, and the mobile user experience can be enhanced by simple navigation.
Have discussed in detail later in this post about eCommerce store navigation.
1.3 Optimized Content and Visuals
Should be optimized visuals and content for mobile devices to load quickly and provide a good user experience.
1.4 Mobile-Specific Features
Click-to-call, geolocation, and mobile-optimized payment choices are some features that improve the user experience and increase eCommerce conversion rates.
Businesses may ensure a mobile-friendly strategy for their eCommerce website by concentrating on five essential components, resulting in a better user experience and higher conversion rates. As a result, the firm experiences increased traffic and earnings.
(2) Easy to Navigate
In order for a customer to have a positive online shopping experience, navigation is essential. Visitors are more likely to take the intended action, like making a purchase, when they can simply find what they are looking for.
Here we’ll examine the foundational components of efficient navigation and how they affect conversion rates.
2.1 Uncomplicated and Clear Design
A well-designed website can significantly enhance the user experience with a clear and uncomplicated style. Visitors may have trouble locating what they’re looking for due to a cluttered or unclear design, which may lead them to abandon the website without taking further action.
2.2 Logical Menu Structure
Finding products and information is simple for visitors with a well-organized menu layout. Visitors can become quickly irritated and leave a website due to a busy or unclear menu.
2.3 An Intuitive Search Function
A good search function is essential for those that know exactly what they’re looking for. The user experience can be significantly enhanced by a search tool that is quick, simple to use, and returns relevant results.
2.4 Relevant Category Pages
A well-designed category page aids users in locating goods and information pertinent to their interests. Visitors may need help with poorly arranged category pages and quit the website.
An eCommerce store’s conversion rates may change direction if the navigation is improved. Businesses may deliver a great customer experience and raise the likelihood that customers will take the required action by concentrating on these essential components. A simple website will bring in more money for the eCommerce brand or company.
(3) eCommerce Store Speed
The speed of the website dramatically influences the success of an eCommerce store. A quick website may increase client satisfaction, foster trust, and promote conversions. A slow website may cause annoyance, high bounce rates, and lost purchases.
A few ways that website speed affects conversion rates are listed below:
3.1 Enhanced User Experience
Customers are more likely to finish a purchase on a website that loads quickly because it makes their experience simple and pleasurable.
3.2 Reduced Bounce Rate
Customers may leave a website quickly if it is slow, which can increase the bounce rate. A quick website keeps visitors interested and on it longer, lowering bounce rates and raising conversion rates.
3.3 Increased Trust and Credibility
A quick website shows professionalism and dependability, gaining customers’ trust and credibility.
(4) Show Behind the Story
Sharing the “behind the story,” or the context and background of a good or service can support conversion rate growth in several ways. Like,
4.1 Adds Credibility
Establishing a customer’s trust and demonstrating the brand’s commitment to quality and authenticity can be done by explaining a product’s background and manufacturing process.
4.2 Creates an Emotional Connection
By appealing to the audience’s emotions, storytelling makes it simpler for them to relate to the brand and its goods or services. This emotional connection may influence a customer’s decision to buy something.
4.3 Communicates Brand Values
Companies can convey their distinctive character to the audience in a memorable and approachable way by telling tales about the brand, its history, and its values.
4.4 Differentiates from the Competition
Using storytelling can differentiate a brand’s identity from its rivals. Increased brand recognition and loyalty may result from this, eventually enhancing conversion rates.
4.5 Builds Trust
Brands may gain the audience’s trust by offering truthful, open, and approachable policies like return policies, data privacy policies, shipment policies, etc. Conversions are greatly influenced by the trust because consumers are more likely to buy from a company they believe in.
In conclusion, storytelling effectively increases conversion rates because it appeals to emotions, communicates brand values, differentiates from the competition, and builds trust with the audience.
(5) Product Page Design
Product pages for online stores are essential to the success of online sales. A well-designed product page influences the customer’s purchase choice and provides information about the product.
The following suggestions will help you increase conversion rates on eCommerce product pages:
5.1 eCommerce Product Title
Enhance conversion rates for your eCommerce store by writing short, keyword-rich, descriptive, benefit-focused, and appealing product titles.
5.2 Product Description
Concentrate on your target market and what they want to create a product description that works and increases eCommerce conversions.
Use language that provides a vivid picture to highlight the salient features of your product. Ensure that all pertinent details, such as size, weight, and materials, are included.
5.3 High-Quality Product Image
To increase e-commerce conversion rates, it is essential to utilize high-quality product photos.
Provide numerous photographs that display the product from different perspectives and offer clients a good understanding of the product’s size, texture, and color to properly use product images. Consider using lifestyle photographs that show the product in use, such as a model wearing the clothes or a client utilizing the goods in their home, to further increase the product’s perceived value.
Customers are more likely to buy when you provide attractive product photographs that allow them to see themselves using the item.
5.4 Call-to-Action (CTA) Buttons
A well-designed Call-to-Action (CTA) can considerably increase eCommerce conversion rates.
Ensure your CTA is obvious and prominently placed on the page to maximize its impact. Use wording that encourages immediate action, such as “Buy now” or “Add to Cart.”
5.5 Customer Review & Ratings
Customer reviews and ratings can considerably increase eCommerce conversion rates by boosting legitimacy and trust.
Potential buyers are more likely to feel secure in their buying decision and are consequently more likely to make a purchase when they see great reviews and high ratings from other customers.
By giving information on the product’s quality, performance, and fit, reviews and ratings can also assist prospective customers in making educated decisions. Your product page can help you gain the trust of potential consumers and boost conversions by prominently displaying customer reviews and ratings.
(6) Provide Live Chat Support
Live chat support can be a powerful tool for eCommerce stores to boost conversion rates. Real-time assistance enables clients to resolve their issues and feel secure about their purchases, increasing conversion rates.
The following are the main advantages of live chat assistance for eCommerce conversion rates:
6.1 Instant Assistance
Live chat offers rapid assistance, assisting customers in getting past any obstacles in the purchasing process.
6.2 Enhanced Customer Experience
Customers are more likely to finish a transaction when they receive personalized service and prompt responses to their questions.
6.3 Boosted Trust and Credibility
By providing live chat assistance, eCommerce businesses show their dedication to providing excellent customer service and gaining the respect and credibility of their target market.
6.4 Increased Sales
Live chat can lower the likelihood of cart abandonment and increase sales by addressing consumer issues and offering immediate assistance.
A useful technique for eCommerce firms trying to boost conversion rates is live chat support. Live chat may assist customers to feel confident in their purchase decision and get over any difficulties in their path by offering real-time support and a human touch to the customer experience.
Additionally, it can raise credibility and trust among customers, improve the whole customer experience, and eventually increase revenue. Implementing live chat assistance is wise for eCommerce businesses wanting to increase conversions and improve customer satisfaction.
(7) Payment Flexibility
Payment flexibility is essential to give customers a seamless and easy checkout experience. By taking into account the distinct needs and preferences of each consumer, providing a range of payment choices can boost eCommerce conversion rates.
For example, you’re targeting Indian people to sell your eCommerce product. Some of the popular payment options in the Indian eCommerce industry include:
7.1 Net Banking
Net banking has become a significant method of payment for online purchases. Customers can simply conduct business online from the comfort of their home or workplace because of its convenience, security, and wide availability.
7.2 Credit & Debit Cards
Credit and debit cards are essential for boosting e-commerce conversion rates. Customers can quickly and confidently purchase online thanks to their widespread acceptance, ease, and security. Many credit cards offer prizes and perks that encourage customers to make purchases, while instant approval and encrypted transactions give customers quick proof of their purchases.
Due to the interaction of these elements, credit and debit cards are more popular as a payment method in India, which raises the conversion rate for eCommerce product sales.
7.3 UPI Payment
Unified Payments Interface, or UPI, has significantly increased Indian eCommerce store conversion rates.
The simplicity of usage and wide availability of UPI makes it a preferred option for customers. A seamless, secure, and immediate transaction through a mobile device is made possible by this real-time interbank electronic fund transfer technology.
Customers can conveniently pay for any eCommerce store purchase with UPI. UPI may greatly raise the conversion rate for eCommerce sites in India by providing customers with a safe and simple way to complete transactions.
7.4 Cash On Delivery System
It is impossible to overestimate the value of Cash on Delivery (COD) in boosting conversion rates for eCommerce in India.
Customers who are hesitant to use digital payment methods or lack access to credit or debit cards will find COD very helpful. Customers can make online purchases using COD and pay cash when the item is delivered. Customers no longer have to pre-pay for the product, lowering the possibility of fraud or losing personal financial information.
Additionally, COD allows buyers to examine the item before making a purchase, improving the customer experience and fostering greater customer confidence in the eCommerce store.
7.5 Easy EMI Facilities
Easy EMI accessibility is essential for increasing conversion rates in the Indian eCommerce business.
Equated Monthly Installments, or EMI, allow buyers to buy things by making small, regular payments rather than the entire purchase price. Customers who do not have enough money to buy a major item all at once are drawn to this payment option, enabling them to budget their spending.
By providing EMI, eCommerce websites in India can draw in more clients who want to buy expensive things. Offering this payment option can also increase brand awareness, average order value (AOV), and customer loyalty since customers will link the website with the ease of EMI.
(8) Social Proof
Social proof significantly impacts consumer behavior and can significantly increase e-commerce conversion rates. Social proof is the premise that people emulate other people’s behavior to ascertain what is deemed appropriate behavior.
For instance, customers are more inclined to think highly of a product when they learn that it has been used or purchased by others. Customers’ trust in purchasing can be increased by showing ratings, reviews, and the number of things sold on a product page.
Furthermore, adding a more relatable and personal touch to the consumer’s buying experience, including user-generated content (UGC) or customer testimonials like images or videos can boost conversion rates.
(9) Allow for Guest Checkout
While it would be wonderful if everyone who purchases something from your website would want to keep doing business with you in the future, this is simply not going to be the case.
Others may be buying a gift for a friend and have no interest in your items, while still others may simply not want to receive yet another newsletter every week in their inbox. Some people may just want to make a single purchase and be done with it.
Whatever the situation, it’s in your best interest to let people check out as guests if they desire to.
During the guest checkout process, consumer data may still be gathered and used for upcoming marketing and personalization initiatives.
For eCommerce websites, providing guest checkout is a crucial feature to take into account as it can improve consumer convenience, draw in more visitors, and raise the conversion rate.
Final Words: eCommerce Conversion Rate
In conclusion, it’s critical to understand that every eCommerce brand or company and its clients are unique.
Nevertheless, there are several reasons why your conversion rate might not be as great as you would like it to be or as it might otherwise be.
The percentage of visitors who perform a desired activity, such as making a purchase, is measured by the conversion rate, which is a crucial parameter for the success of eCommerce websites. A website that successfully captures client interest and converts it into sales has a high conversion rate. A variety of things can impact the conversion rate.
While the advice I provided in this post should be sufficient to get you started on the correct path, you should constantly search for methods to enhance your website and your backend operations.
If you need help from a professional person to improve your eCommerce store conversion rate, you can connect with me on LinkedIn.