Marketers and online businesses spend a considerable portion of their time looking to get target metrics on their website and figuring out the best solutions for increasing conversion rates. 55.5% of respondents to a survey said that they were planning to increase their conversion rate optimization (CRO) budget.
If you want a top-notch conversion rate to earn a competitive edge in the eCommerce marketplace, or at least turn your site’s lookers into buyers at a higher rate than the present results, you should not ignore this article.
We’ll list down the winning strategies for conversion rate optimization to boost eCommerce sales. We have previously written a detailed guide for online marketing for ecommerce stores that you can read.
An overview of conversion rates
What is the conversion rate?
The conversion rate in eCommerce is the percentage of visitors who land on a website and complete a specific action out of the total number of visitors, such as registration or purchasing something from the site.
The higher the conversion rate is, the more successfully a website is performing. That’s mean the marketing and website design are doing good. Most importantly, it proves that you’re offering what people want, and they can get it quickly
If you’re running an eCommerce store, your end goal should determine which conversions align with your business goal. Usually, you will focus on the percentage of visitors who buy something from your website.
Take a look at typical conversions of an eCommerce website:
- Make a purchase
- Users add products to their carts/wishlists
- Submitting a form
- Engaging with your online chat
- Email signups for a subscription
- Social media shares
- Download something on websites
- Upgrade the service
- Any other valuable KPI
What is a good conversion rate?
It’s quite challenging to give a good conversion rate the most concise definition as conversion rates vary widely by industry and business model. As you know, conversion rates are often used as a KPI to measure the effectiveness of eCommerce sites. Put simply; good conversion rates refer to the high number of people converting from lookers into buyers.
A typically average website conversion rate is about 2.35%. A good conversion rate is above 10%, and some Google Ads advertisers have conversion rates of 11.45% and higher. If you’re earning a conversion rate, which is two or five times better than the average, you’re already on the top 10% of global advertisers.
However, good conversion rates above are accomplished via Google ads only. When it comes to conversion rate, you should cover all the channels. Different channels generate different conversion rates.
For example, according to WordStream, the average conversion rate of Facebook Ads is 9.21% across all industries. The conversion rate of organic search is incredibly high, with 16% on average, while the percentage via social media is 0.71%.
Regardless of these differences, you should still aim for a 10%, 20%, or even higher conversion rate to double and triple your online sales.
How to calculate the conversion rate?
A quick example: if your site had 56,000 visitors and 5230 conversions last month, your conversion rate is 9,34%.
Calculating the conversion rate is fairly easy. All you have to do is to divide the number of conversions you get in a given time by the total number of people who visit your website, then multiply it by 100%.
Conversion rate = (Conversion/total visitors) x 100%
It’s easy enough, right? Most online advertising, like Google Adwords, Facebook Ads, and Amazon Ads, or any analytics tools, will show your conversion rate quickly and accurately right on the interface.
Besides, you can track conversion rates more specifically from different few types of conversion rates:
- Overall conversion rate
- Marketing channel conversion rate
- Campaign conversion rate
- Page-level conversion rate
- Keyword conversion rate
- Individual ad conversion rate
These metrics are all relevant key performance indicators. However, after you scratch beneath the surface, you’ll see that the conversion rate is a great metric of evaluating almost every aspect of your online marketing.
7 Best strategies to skyrocket your eCommerce conversion rates
1 Using live chat to support customers in real-time
Innovations have been occurring in digital marketing in the last few years. There are a ton of new methods to increase conversion rates and boost sales. One of the most used methods is Live Chat.
If implemented strategically, LiveChat will scale up any business with the first easy-to-see achievement in conversion rate optimization. Many supportive LiveChat apps can help you to do this.
However, supporting customers via LiveChat will increase conversion rates only if you commit being available during the business hours when customers engage with your chatbox.
LiveChat becomes popular as it empowers the store owners to interact directly with visitors or customers in real-time on a homepage or landing page. If customers can get personalized responses and feel engaged with your service, they’ll most likely stay at your website over others. Therefore, you can build personal connections with customers and generate more valuable conversions.
Automation is usually implemented in LiveChat. But it should be the supporting factor only. A real human connection makes your business closer to customers and builds their trust in you.
2 Improve website navigation
Website navigation is one of the most crucial factors influencing conversion rates. Did you know Be Media had a dedicated eCommerce web development team? we do you can learn more about them here.
To create good website navigation, the first thing to do is considering the user. Put yourself in the users’ shoes when constructing your website navigation. Your product categories should be structured logically and clearly.
Effective navigation should tell users what your website is offering at their first sight. Don’t cram your website’s interface with too many categories, blocks, and fields. It will confuse users and makes it hard for them to find what they want.
Being creative in website design is great, but when it comes to navigation, users will appreciate the routine and predictability more. So it’s essential to create a comprehensive journey for users when they browse your site. Make it as simple as possible.
3 Write an attractive product description
Your product description is as important as your website navigation. As online shoppers can’t touch a product, what they read about the product will be the first impression and imagination of them on it. Make sure you describe your products in great detail so that your users will know what they’re going to get.
Put important product information in the description briefly. Tell the users what the product used for, its benefits, and how to use it. There are few rules to write a product description that converts:
- Know your target audience
- Focus on product benefits
- Don’t forget storytelling
- Use natural language and tone
- Use powerful words that sell
- Make it easy to scan
- Optimized for search engines
4 Use high-quality images that attract the eye
Improving the quality of product images on your website will increase sales considerably. Having a really high-quality eye-catching image makes the difference between a sale and a looker as we wrote about in our beauty and cosmetics store marketing guide.
It’s even better to add images or videos to demonstrate your products. It’s a way more effective as it gives users a visual look on products so that they’ll make purchases more easily. More than 67% of customers say that high-quality product images play vital roles in the purchasing process.
Notably, using large photos viewable with a mouseover will help increase conversion rates. Users can see the products more easily and quickly so that their shopping is more comfortable and time-saving.
5 Have an easy to find and transparent returns policy
Almost all customers will read the return policy when they’re going to buy something from an online store.
Your return policy should be in an easy-t-see position on your website. It’s not necessary to make a comprehensive return policy, but make sure it’s painless and easy for customers to return their products.
Offer comprehensive and reasonable policies so that customers can understand and get what they can do within the permission. Don’t over-promise customers and confuse them with what you’re not sure.
6 Include customer reviews about your products
Including customer reviews on products can improve conversion rates and boost sales effectively. A study by Reevoo reveals that showcasing customer reviews on eCommerce sites can increase online sales by 18%. More and more people read reviews before buying.
So it’s essential to enable customers to leave reviews on an eCommerce website. Real reviews will build trust in customers and give your store more credibility.
7 Make your checkout process super simple
The difficulty customers have during the checkout process is one of the most popular reasons for abandoned carts. That’s why it’s critical to help customers check out quickly and painlessly.
Your store’s checkout should be an easy-to-understand form, such as CVV or input formats. It’s better to add pre-filled, savable fields so that customers don’t have to enter their information again for the next checkouts.
The conversion rate is a critical element of the success of an eCommerce website. Pursue a “good” conversion rate is great, but you shouldn’t for it or limit your business at a specific level of conversion rate. Go forth confidently; you can always do better!
If you’re figuring out what to improve your conversion rate, take a look at the strategies suggested in this post:
- Leverage LiveChat
- Enhance website navigation
- Invest in product descriptions
- Use high-quality and attractive photos
- Create a transparent return policy
- Showcase customers’ product reviews
- Make a seamless checkout
Research on each strategy, implement on your website, test, and see the result.