Last Updated on January 21, 2022
Even after giving the best sales is going down, what’s going wrong.
When the sales keep going down even after several visits by several customers. eCommerce business is understanding the vital condition of a conversion rate decrease. Let’s understand first what is conversion rate.
What Is Conversion Rate?
Conversion rate is referred to as the rate of percentage of visitors who become a customer after purchasing on their ecommerce shopping site. Visitors act by clicking on an advertisement that directs them to the shopping site.
Purchase action is important for visitors to become customers which will increase sales and also increases the conversion rate. An increase in conversion rate is a more profit-earning situation for ecommerce stores.
Conversion rate = (no. of conversions / total no. of clicks) x 100
Ecommerce Conversion Rate is the ratio of transactions to sessions, expressed as a percentage; for example, a ratio of 1 transaction to every 10 sessions would be expressed as an Ecommerce Conversion Rate of 10%.
What Includes Conversion Rate Optimization?
CRO is a systematic way and process of optimizing conversion rate with visitors will increases who will take desired actions by becoming customers or by completing a goal of the site. In CRO customer’s actions are to understand and eliminate the barrier customers face while becoming customers.
Conversion Rate Optimization (CRO) Tools To Help Analyze and Measure Conversion Rates
Here are some tools and online platforms that will help you track metrics and analyze converstion rates for your ecommerce store.
- Google Analytics
- Adobe Analytics
- Google Optimize
Conversion Rate of Online Shoppers Worldwide 2019
Online Shopping Conversion Rate Industry Wise Worldwide 2019
What Is The Average Conversion Rate for eCommerce Marketplaces?
- As per current statistics of ecommerce industry sales the average landing page conversion rate was 2.35%.
- The top 25% ecommerce stores are converting at 5.31% or higher.
- If you manage to optimize your conversion rate and get into the top 10% — then you can design landing pages with conversion rates of 11.45% or higher.
Things You Can Do To Optimize The Conversion Rate Of An eCommerce Store
1. Make Navigation Simple & Easy
Make navigation simple and easy as customers should know where they are, where they have been, and where they are moving. it is one of the essential aspects of designing simple and easy navigation while designing a website. The starting point in a site is starting from a sitemap which displays the different levels of combined information in a diagram or spreadsheet. Starting menu options is the sitemap of the website.
- Make effective Planning for navigation.
- Language should be understood by the user without getting misinterpreted.
- Avoid re-inventing the wheel and work on conventions because they work more effectively.
- One should not find it difficult to see the main menu, it should be in contrast so it more visible and it could be on the left side or right side of the page.
- Menu options have to be clear and responsive to what user’s actions.
2. Personalize The Shopping Experience
Nowadays every business focuses on customer-oriented marketing by prioritizing customer’s needs, wants experiences, and feedback. Personalization of offers and suggestions as per the customer’s wants and needs. Melissa Gonzalez founder of The Lionesque Group said
In today’s environment, consumers are expecting a much deeper level of personalization.
- Personalize email, offers by improving interactions.
- The offering of support as customer-centric to improve their experience.
3. Allow Shopping Via Social Media Platforms
Social media marketing provides a great platform for creating awareness about the product. SMM helps in creating more traffic on sites as 30% of people agreed they would purchase a product from social media Facebook, YouTube, Instagram.
Around 60% of people search on social sites about the product.
Social media influencers, bloggers, vloggers can influence buyers for buying a product, it has also evolved as an effective method of advertising.
4. Provide Multiple Discount Options
Customers get the offer of receiving more than one discount at a time by ecommerce shopping sites to attract customers to buy more products. providing this type of discount will motivate buyers to purchase more and more from your online store. For example, a 20% discount is given with an additional discount of 15%. It helps in increasing sales with an increase in conversion rate.
5. Implement Upsells, Cross-Sells, & Down-Sells
These are the technique followed for selling the product in the upsell technique buyer is persuaded to buy more expensive products or services from what they were originally bought. In cross-sell technique selling of different product or services additionally with what they were buying. In the third technique Down sell, the buyer decides not to buy anything so in this situation less expensive product or services is offered to him. By implementing these techniques in ecommerce store conversion rate will be increased.
6. Allow For Guest Checkout
It provides the ability to buyer purchase from an online shopping store without providing the information or login to an ecommerce store. In this scenario customer’s information is not saved permanently on a database, the information is only used for the customer’s one order. Allowing guest checkout helps in increasing the conversion rate.
7. Provide Multiple Payments & Delivery Options
The consumer wants to keep their information safe and secure while doing online payment. multiple payment options include credit cards, debit cards, PayPal, purchase orders, money orders, cashier’s checks, and more available to the buyer while purchasing online shopping sites. Different delivery options include same day, next day after 3 to 4 days depends on your location and delivery charges are charged high from customers. Hence, you may want to register to a dropshipping portal that lets you accept multiple payment options without hassle.
8. Get Customer Reviews & Feedback
Customer review helps in making changes and up-gradation in products or services. Problems can be eliminated if review from customers is responded quickly to negative and positive reviews. As per the reports of BrightLocal, 85% of consumers trust online reviews are much as personal recommendations.
9. Offer Free Shipping
On high shipping charged products, customers feel less motivated to buy it and leave their cart abandoned. Customers will get more attracted towards that ecommerce store that provides free shipping to their customers occasionally.
10. Use Live Chat Software (Chatbots)
A chatbot is available 24×7 for customer service even on the holidays. Customers can get directed by chatbots and ask their queries to solve their problems. helps in finding what they are trying to find on an online store. Helps in decreasing the bounce rate and in increasing the conversion rate.
11. Have A Great Product Return Policy
If a very strict return policy is followed by the ecommerce business, that time customers will feel very confused whether to buy the product from this site or not. There should be a great product return policy it also helps in increasing the conversion rate.
To increase conversion rate and boosting sales ecommerce stores should follow these things in an ecommerce business. If you are new to launching an ecommerce store or optimizing an ecommerce marketplace then getting in touch with an ecommerce development company is a smart move. We at Emizentech are expert at creating ecommerce websites on different platforms as per the unique requirements of our clients.