In the world of ecommerce, there are many building blocks to success. However, increasing your ecommerce marketing conversion rate is the key to long-term success.
If online shoppers and visitors do everything but buy from your ecommerce store, you won’t make money.
With hundreds of dollars invested in your ecommerce store, you want to ensure you make as much profit as possible. This is where ecommerce optimization comes in.
Thankfully, we’ve created this article to help you optimize your ecommerce store and increase conversions.
So let’s get started.
An ecommerce conversion rate refers to the percentage of website visitors who have taken a desired action. This could be signing up for a newsletter or purchasing a product. Your ecommerce conversion rate will depend on what your ultimate goal is.
Ecommerce conversion optimization can improve your customer’s shopping experience and drive the desired action for conversion. Good ecommerce optimization will also boost traffic to your store, increase your conversion rate, and ultimately sales.
Before optimizing your ecommerce store, it is important to calculate your store’s current conversion rate. So how do you calculate your ecommerce conversion rate?
To calculate your ecommerce conversion rate, divide the number of conversions by your total number of visitors multiplied by 100.
For example, if you are getting 10,000 visitors to your store and 100 conversions within a month, your conversion rate will be 1%.
On most analytics tools, you will easily find your conversion rates within the data section.
According to several data, the average ecommerce conversion rate falls around 2.5-3%. However, they may vary depending on the industry, performance, business model, pricing, marketing, and so on.
To set a benchmark for your ecommerce store, you may want to consider your industry as well as the overall ecommerce conversion rate.
You can start with a baseline goal of a 3% conversion rate and move up higher.
Now that we understand what an ecommerce conversion rate is and how to calculate it, let’s dive into some ecommerce marketing optimization tips and techniques to improve your ecommerce conversion rate:
Your customers won’t be able to touch your products, so you want to make sure that your product page or landing page makes a good first impression.
When your customers can see what your product looks like and how it will be valuable in their lives, they can feel more confident and are likely to buy from you.
On the flip side, if your product pages or landing pages are not well-optimized, it can increase bounce rates leading to missed sales opportunities.
Here are a few optimization tactics for your product page or landing page:
No matter how great your website looks, it won’t matter if online shoppers leave before it loads. Your customers won’t wait more than a minute to have your website come up. You want to ensure your website is up within seconds.
Optimize your themes and images to speed up your site’s load time. Reduce HTTPS requests and page redirects. You also want to go for faster ecommerce hosting to improve your site’s speed.
When customers land on your website or landing page, the site’s navigation is typically the first thing they look for to search for specific products. Complex navigation can stall your customer’s shopping experience and cost you sales. Here are a few ways to simplify navigation on your ecommerce site:
Simplifying navigation on your ecommerce site gives your customers a clear path to finding what they need on your site. Not only does it improve your customer’s shopping experience, but it also improves your ranking on search engines.
Today, customers want to get the “princess treatment”. Your customers expect you to know exactly what they are looking for. In other words, they want a personalized shopping experience. You can lose out on sales if your website isn’t personalized based on your buyer personas.
One way to personalize your website is to offer a wish list or favorite option based on their interests. You can also suggest complementary products and popular items. Attract first-time buyers and lost customers with special offers and optimize their shopping experience based on the type of device they are shopping with.
According to data, mobile ecommerce sales hit $3.56 billion by the end of 2022 indicating that more customers are shopping online with their mobile devices.
If your site isn’t mobile-friendly, you could miss out on a dozen sales opportunities and lose potential customers. So what does a mobile-friendly site look like?
First, you need to ensure your content and graphics are compatible with all mobile devices. Ensure your site is easy to navigate and responsive on mobile. Avoid using complicated elements and heavy texts. Your images should also be compressed before uploading them on your site.
One powerful way to increase your conversion rate is to add recommended products. When a shopper visits your site, they want to find products that meet their needs. Including additional products that may interest shoppers can increase your average order value and conversion rate. You can add recommended products on search result pages, close to the shopping cart, or in the confirmation email after customers make a purchase.
Amazon is one brand that does this so well. They recommend products based on previous purchases and use “Frequently Bought Together” prompts to suggest items customers may like.
When all is said and done, the checkout phase is the moment of truth. You want to ensure there are no frictions or hassles when your customers are about to checkout. According to data, 69.82% of ecommerce shopping carts get abandoned at the checkout stage. To avoid this, you want to streamline the checkout process and ensure it is as seamless as possible. Include a guest checkout option to improve your customer’s experience.
There are many other tactics that you can implement to optimize your checkout page and increase your conversion rate.
To avoid losing customers, you want to diversify your payment options to include options they are most comfortable with. Some customers may prefer to use more established payment methods like Mastercard and Visa while others may prefer digital wallets like Apple Pay and Amazon Pay.
You also want to provide convenient payment structures. You can consider Buy Now Pay Later (BNPL) which allows your customers to pay in installments or subscriptions which require a recurring fee typically monthly or yearly. There are other payment structures like Layby and prepaid in-store cards.
Overall, you want to choose payment options and structures that will work best for your brand and be more convenient for your customers.
Social proofs are a powerful strategy for boosting conversion rates as they address objections, increase confidence in potential buyers and encourage them to make a purchase.
Most customers will read an online review or look at a customer testimonial before making a purchase. In fact, most customers trust an online review just as much as they would trust a recommendation coming from a family member or friend.
Reviews, customer testimonials, and user-generated content are examples of social proof you can include on your website.
And this shouldn’t just be on your product pages. You can include social proof on other channels like emails and paid ads.
Good customer service is crucial to improving your ecommerce conversion rates. Your customers may have some questions about your product or they may need some shipping information. To engage with your customers, you can invest in a live chat service. With a live chat, customers can easily ask questions and resolve issues quickly. Customers who may have thought of leaving your site can engage with a live chat agent to assist them. Live chat agents can also use selling techniques like offering coupons and discounts to encourage customers to make a purchase.
Optimizing your ecommerce store is the secret weapon to turning online shoppers into paying customers. Keep in mind that ecommerce optimization is a continuous process. User behavior, interests, and trends keep changing and it is important to adjust to these changes to improve conversion rates and maximize sales.