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For both the novice e-commerce business and a firmly established online marketer, the higher their conversion rates, the better their business will thrive. Normally, generating business from both old and new potential customers works like a clock:
Many people will quit your site without any purchase, as per Smart Insights reports. And normally, the average conversion rate of eCommerce till Q2 2018 was just 3%%. However, we can ameliorate the conversion rate through different tactics. What is considered a good conversion rate and what are the ways to convert the visiting customers to paying customers have been discussed below:
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As per a Google Analytics report, eCommerce marketers’ average conversion rate is 3%, and some surveys affirm that it varies between 3% and 5%. Several factors, such as target demographics, your industry, price level, etc., play a role in setting the conversion rate. However, a 3 to 5 percent conversion rate at the start is good enough. After learning and filling gaps, you can extend it as far as possible.
An eCommerce conversion rate is the percentage of visitors purchasing your products. The commonly seen conversions in eCommerce are:
One of the most basic steps for increasing conversion is lowering the total steps required to purchase any product. The checkout procedure should be simple and easy, so everyone can easily use it.
Normally if your website takes a lot of time to open, people would automatically avoid using it. The number of seconds a website takes to open directly affects the increase or decrease in visitors.
SEO acts as the salt for any meal. You can only attract a large audience if your website is properly optimized. The traffic and conversion can increase well if you focus on SEO and CRO. SEO is helpful in content optimization, and CRO helps take visitors to complete call-to-action.
Website design needs to be device friendly. If a user uses the website on mobile, the website design needs to set itself automatically. It will increase the conversion rate, and people would like to purchase from your stay due to clear and organized things without zooming in. The flexible web design includes product categories, videos, calls to action, search bars, clean design, and dynamic content.
If your website design is too complex and abstract, people will get confused and leave your website. Therefore, it is suggested to keep the design simple so people prefer staying on your website and buying the products you offer. Moreover, the checkout process needs to be simple as well.
In this era, people only buy things after checking online reviews. For better user experience, it is suggested to post positive reviews online to satisfy customers. The reviews show that you are selling authentic items.
Most people wish to buy products but drop this idea after seeing the shipping cost. So, the shipping cost should be waived if customers buy more than one product from your store.
Sometimes people add things to the cart but need to remember to proceed. It is better to send an email reminder to such people to proceed further and buy your products.
You should not be way too far from the customers. Your contact details must be mentioned clearly on your website, so people can easily approach you to ask questions.
Customers find it hard to send an email and wait for a response; therefore, people prefer having live chats. The live chat option gives them an easy way to contact you instantly.
Adding options like “how much stock is left” or “how many people are viewing it” creates a sense of urgency for customers who want to buy their favorite products urgently.
People get offended when they see low-quality and poorly captured pictures on social media platforms. So, you should only upload properly captured high-quality images to attract a large audience.
This is a modern world, and people cannot trust anything just by seeing one of its angles. The videos of the products give the overall idea to the customers about the product, and it gets easy for them to choose it.
The relevant products, as well as the product recommendations, need to be added to your site. You need to focus on sending all the traffic to the landing page instead of sending them to one specific product. The landing page may help them choose more than one product.
Online shopping is full of risks for people. If you added a proper guarantee of your products, people would prefer to buy them and trust you.
People usually look for websites and brands that offer easy refund policies to get customer trust. You may set some refund rules like the damaged product, cracked product, etc. Sometimes, people don’t get the same product they order online, so you should allow them to refund it without taking any extra charges.
All people don’t want to go for COD (Cash on Delivery). Few people like to pay via a master/debit card or other sources. It is better to provide different payment options for the best shopping experience.
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According to Huff Post, Forbes, and many other sources, 90% of new online businesses fail at the very start or within four months. The reasons behind this failure can be multiple but weak performance in online marketing combined with a general inability of the business owners in search engine visibility.
Are you planning to start your online business? Your mind must have many questions regarding business model, customer base, niche products, shopping carts, online sales, etc., in your mind. r Research proved that almost 85% of eCommerce businesses fail, and only 20% of them stay. There is no problem to worry about. We are here to help you carve reasons for failure. You can simply avoid these mistakes to run a successful eCommerce business.
There are several reasons for eCommerce fail like:
The major reason for a website’s failure is product failure. If you are selling something, which top brands already sell at a lower price, then that product is for someone else. You must choose the products wisely after proper research to avoid seeing the products fail.
People want the best products at a reasonable price. None would like to buy expensive products from a startup eCommerce website. The price range needs to be competitive and may be lower than others to build people’s trust.
Your products may be amazing at a reasonable price with an attractive website design, but there needs to be more traffic on your website. The reason can be “No Marketing.” How do you expect people to know about your website if you don’t plan to advertise your website and your products properly?
If your website doesn’t rank on Google, then there is no point in crying over the failed business. SEO is an important aspect of online work to ensure that people can find you on the initial pages of Google.
If your website design is dull and unattractive, people will feel less encouraged to buy something from you. Using colors and contrasts is important to keep the customer entertained and happy.
If your website includes only pictures with details about the products, their usage, comparison, and videos, people will only accept buying from your eCommerce store.
Some people leave the cart when they see the shipping charges. Sometimes, the shipping charges are more than the product itself. Therefore, you should relax your customers by providing free shopping if they buy products of any specific amount.
The options like “How many people are viewing” and “the total number of pieces left” make the people purchase the product on the spot. They don’t keep it in the loop to check another time for buying it.
People get overly joyed and excited to see the word “SALE.” It is better to put items on your website on sale, so people can get them before the sale ends.
Your product may be amazing, but if the photos uploaded on the website are of bad quality, you cannot expect them to be sold. It is suggested to upload the best quality pictures so that customers can easily zoom in to see if it works for them or not.
If you update your inventory, you might stay within certain products, and eventually, you won’t be able to deliver them to the customers. You should organize your inventory based on your business mode to provide all sorts of items to your customers at the right time.
Some eCommerce websites have a return policy, but they don’t mention it clearly on their websites, which leads to fewer customers. You should properly mention your refund, exchange policy, and terms and conditions, so people can easily get their desired products without fear or risk.
There are a lot of questions that customers need to ask you. If they don’t get their queries answered instantly, they may lose interest in buying any product from your website.
E-Commerce is a game of patience. It takes time to organize and manage your store and get huge traffic properly. You cannot lose patience in the first week of starting your business.
Many e-commerce businesses fail because they focus on only some above-given ideas. If you focus on these things, your business is more likely to prosper in a short time.
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