How to Increase eCommerce Conversion Rate
The conversion rate of your business decides whether you are winning your race to make the business thrive or are taking a down hit. For eCommerce businesses, keeping track of conversion rates and working towards excelling is of utmost importance.
Today, per the estimate, there are between 2 to 3 million eCommerce companies worldwide, excluding China. Irrespective of whether you are offering your service across your country or on a global expansion, you are open to a big competition. So, it becomes essential to take a step to increase the eCommerce conversion rate to stay ahead of the crowd.
So, to help you attain that, here is a brief understanding of how you can increase eCommerce conversions with simple tips.
What Is An eCommerce Conversion Rate?
An eCommerce conversion rate is the percentage of site visitors who take a desired action, such as making a purchase. For online stores, a good benchmark conversion rate is 2-3%, meaning 2-3 out of 100 visitors will buy something.
The conversion rate formula is: Conversion Rate = (Number of Conversions / Number of Website Visitors) x 100
Typical ecommerce conversion actions include:
- Signing up for email newsletters
- Adding items to the shopping cart
- Completing a purchase
- Sharing on social media
Factors Influencing eCommerce Conversion Rates
User Experience (UX)
A positive user experience keeps visitors engaged and encourages them to convert. Fast page loads, easy navigation and compelling content are key elements of good UX.
Mobile Optimization
With increasing mobile traffic, having a responsive design is critical. If a site doesn't display well on phones, it will lead to high abandonment rates.
Email Marketing
Strategic email campaigns keep customers engaged after they leave your site. Offering exclusive promos or sales through email is an excellent way to drive more conversions.
Search Engine Optimization (SEO)
Higher visibility in search engines means more traffic. Optimizing your site for relevant keywords will get your products in front of motivated buyers.
Social Media
An active social media presence keeps your brand top of mind. Share engaging content to drive traffic back to your site where visitors can convert.
How To Boost Your eCommerce Conversion Rate
Quality Site Design
An aesthetically-pleasing and easy to navigate website builds trust and improves UX. Prioritize features like high-res product images, detailed descriptions, and clear CTAs.
Free Shipping Offers
Free shipping entices buyers to go through with a purchase. Consider building shipping costs into product pricing strategically or offering this perk for higher cart values.
Site Search Functionality
An internal search makes it easy for visitors to find products quickly. Less time hunting means more time buying.
Live Chat Support
Real-time assistance from a support rep answers questions and gives customers confidence to complete purchases.
The Bottom Line
Boosting conversion rates takes work but pays dividends. Focus on understanding customer behavior and removing friction from the buying journey. Minor optimizations can have a major impact, so track results closely and keep tweaking until you find the right formula!
Recommended: Ecommerce Owners: Understand Your Customers' Online Behavior
FAQs
What is a good conversion rate for an online store?
A conversion rate of 2-3% is considered decent for most eCommerce stores. This means 2-3 out of 100 visitors will make a purchase. High-performing stores can achieve over 5%.
How do you calculate eCommerce conversion rate?
The formula is: Conversion Rate = (Total Number of Conversions / Total Number of Website Visitors) x 100. Conversions could be sales, email signups, downloads, or any desired action.
What improves user experience (UX) on an eCommerce site?
Fast page speeds, intuitive navigation, compelling images/copy, prominent CTAs, and a seamless checkout process all contribute to positive UX that converts visitors.
Why is mobile optimization important?
With over 50% of traffic coming from mobile devices, having a responsive site is crucial. If a site doesn't display well on phones, visitors will abandon their carts.
How can email marketing increase conversions?
Strategic email campaigns re-engage visitors who left your site. Promotional messaging drives traffic back to your store where subscribers can make purchases.
How does SEO impact conversions?
Higher visibility in search engines increases website traffic. More traffic means more potential buyers visiting your site and converting.
How can social media increase eCommerce conversions?
An active social presence keeps your brand top of mind with followers. Share engaging content to drive traffic to your online store from social platforms.
