With online shopping becoming the new norm, the competition among eCommerce stores is increasing.
Most people prefer to shop online these days. But not everyone who visits your website will necessarily buy anything. If they are unsatisfied with your offerings or user experience, they can always have alternatives to look for. Therefore, online businesses must take all necessary steps to capture the audience.
Your online business’s conversion rate can be determined by how many customers visit the site, complete a purchase, or leave products on the cart. Based on these data, you can determine the conversion rate and where your store needs improvement.
If you think it is difficult to Increase the Ecommerce store Conversion Rate, then you are wrong! In this article, I will disclose all the steps you should follow to increase your eCommerce store’s Conversion Rate. Read the article to the end to not miss out on any steps.
What Is A Good E-Commerce Conversion Rate, And How Is It Calculated?
According to statistics, the average eCommerce business conversion rate in December 2021 was 2.36%. And in November 2022, it declined to 2.1%. In reality, aiming for a 2.5 to 3% conversion rate is a good goal.
You can easily calculate the E-Commerce Conversion Rate by the formula given below:
(Number of conversions/Total visitors)*1000
Let’s say your online store has 1000 visitors per month and 30 conversions in the same month; your conversion rate is 3%.
15+ Ways To Increase E-commerce Conversion Rate?
These 15 ways will help you increase the Conversion Rate of your E-commerce store:
- Free Shipping
It is seen as one of the most successful methods to boost conversation rates. Customers never like to pay for delivery. Therefore, most businesses take advantage of this psychological barrier for their store conversion. Some of the ways that stores implement free shipping include adding the estimated cost of delivery to the product price, offering free shipping, and, in some cases, when the product is expensive, companies sometimes pay for shipping themselves.
Statista reports say that 73% of consumers prefer to purchase online items with free shipping. Therefore, it is one of the best ways to enhance the conversion rate of an eCommerce store.
While shopping online, most customers always look for benefits like discounts and coupon codes. There are many kinds of benefits that you can offer to your customers on different occasions, to name festive sales, discounts, stock clearance sales, etc. It is important to create offers that excite the customers, like limited-period offers, the short lifespan for coupons, etc. Depending on what products you sell, this method can be applied in a variety of ways. Utilize this approach properly by examining the emotions of customers to persuade them to place their orders at your shop.
- Improve The UI Of The Store
People always hunt for new products to purchase in addition to those that are featured on the front page of the store. If the user interface is unpleasant, customers may be frustrated and leave the store without making any purchases. A user interface that is simple to use will help customers to get to the appropriate product category.
People have a better buying experience when they can quickly browse from one page to another, exploring various categories and products. It is advised to have a user-friendly interface from the home page all the way to the payment page.
- Have Competitive Prices
A large number of eCommerce stores are popping up in all niches every day, and they are fiercely competing with each other. Therefore, there is a greater probability that consumers will constantly compare your product’s price to that of your competitors. So, it is crucial to have fair pricing and show customers proof of the quality. They will understand clearly why your products are valued when they compare the products to those of your consumers. In addition to competitive prices, you can offer extra perks to retain clients back to your store.
- Use The Abandoned Cart Recovery Feature.
The majority of customers who browse a store and decide to buy anything will likely add it to their cart and leave without buying. The abandoned cart recovery feature can be used to resolve this issue. Customers who put products in their carts will receive an email notification. This functionality is available inbuilt in most of the popular eCommerce platforms like Shopify, Bigcommerce, etc. This is regarded as one of the strongest strategies for pulling back clients who have added items to their shopping carts.
- Use Chatbots In The Store.
When the customers are browsing the store, if they get any queries regarding the shopping, they need quick assistance. Therefore, it is crucial to have a chatbot that responds to all the common inquiries about products, shipping, refunds, payments, etc., on a quick basis. If the chatbot cannot respond, the issue may be escalated for attention from the support staff. Since chatbots are available around-the-clock to respond to client inquiries, having this feature is crucial for improving your eCommerce store’s conversion rate.
- Provide Guest Checkout Options
The majority of e-commerce businesses require registration to finish the purchasing procedure. When a customer first enters the business, it can be daunting to sign up from the beginning, and it might lead to leaving the store without purchasing. Therefore, offering guest checkout options for a few first purchases is great. You may email them about offers and signup invitations if they show genuine interest and keep shopping. This can be one of the good initiatives to encourage the customers to buy when you are starting the new store.
- Offer Security To Private Data.
Make sure you offer security for your client’s private information. As a result, more customers will feel more confident about shopping at your store. Some of the most important details include credit card numbers and others that you do not need to store in the system. Use only the information that is necessary, such as their name and email address, to make consumers feel secure throughout their whole buying experience.
- Allow Filters In The Categories.
It is challenging for customers to search for a certain product when the e-commerce store sells a variety of products. Therefore, it helps individuals to get it faster if they can filter the products according to their tastes. The filter can be created according to the product category. Some of the factors that are commonly used in eCommerce stores are color, material, brand, etc. Customers can quickly find the proper product with its assistance.
- Collect Product Reviews
The best approaches to gain buyers’ trust are to have product reviews posted. The appropriate testimonials will aid individuals in understanding the advantages of the product as experienced by actual customers. In exchange for submitting reviews to your website, you may also offer rewards like discount codes and savings on future purchases. In addition to reviewing, you have the chance to get a sale by using this strategy.
Encourage customers to provide images and videos of the real products, as this gives website visitors an idea of what the thing looks like.
- Powerful CTAs
Some businesses use CTAs aggressively in the hopes that they would be beneficial, yet doing so improperly might irritate customers. Therefore, be careful only to utilize appreciative CTAs where they are necessary. Some of the most common ones include add to cart, buy now, add to wish list, etc. There’s no denying that employing CTAs properly can increase your sales.
- Product Page With All Details
Customers who are interested in a specific product and visit your store should be able to find all the information they require on the product page. You can also mention the product’s USP or how it differs from similar items sold in other stores. This helps them to get all the details of the product on a single page and place the order within a few steps. If the product specifications are not properly mentioned, it may cause customers to have many questions, and they may end up leaving the store without making any purchases.
- Have Social Media Integration To Store
Your eCommerce store may sometimes see a majority of its visitors coming from social media. Users can directly explore the products by integrating the store with social media without visiting the website. There are numerous advantages to integrating social media with your store.
You can share the product in the feed, which encourages customers to visit your social media store. Therefore, if you use social media frequently, it is a smart option to have your eCommerce store integrated with your online business.
- Create FOMO
This has become a new normal for most eCommerce stores to, creating a sense of fear among their customers. This strategy can create wonders if you use it wisely. This strategy can be used in many ways. Some of them are coupon code for a limited time, frequent stock updates, etc. Customers can be made aware of FOMO in a variety of ways, including through emails, Whatsapp messaging, website content, and other mediums. When you require customers to place orders as soon as possible, this tactic can be used.
- Have A Mobile-Optimized Website
Mobile devices are the primary means of eCommerce purchases these days. If you want to increase conversions for your company, you must have a website that is optimized for mobile devices. Customers are more likely to search for products and finish their buying when they can effortlessly browse the store on their mobile devices.
Therefore, having a website that is mobile-optimized is crucial, with features like simple navigation, less clutter, a quick loading time, simple layouts, etc.
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Final Words: How To Increase Ecommerce Conversion Rate
I hope this article has given insight into some tried-and-true strategies for raising conversion rates. These are the most fundamental and efficient methods that the majority of online retailers employ to raise their eCommerce Conversion rate.
As the number of eCommerce sites grows daily, it is critical to have a solid plan for turning visitors into customers. Depending on the business niche, you can also experiment with a variety of additional approaches. It is necessary to analyze why visitors aren’t converting and where your store is falling behind before conducting any experiments. First and foremost, follow all the methods said above and also come up with a creative strategy to get people to buy your product.