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:
- They explore your website
- They add the products they like to their carts
- Eventually, without any reluctance, they go for purchase.
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:
- What is a good eCommerce conversion rate?
- What is meant by an ‘eCommerce conversion rate?
- How to increase the eCommerce conversion rate?
What is a good eCommerce conversion rate?
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.
What is meant by an ‘eCommerce conversion rate?
An eCommerce conversion rate is the percentage of visitors purchasing your products. The commonly seen conversions in eCommerce are:
- Products added to the cart
- Added items to the wishlist
- email signups
- Guest checkout
- Account creation
- Social media shares and reposts
- Online visitors
- Number of purchases
- Number of people viewing a product
How to increase the eCommerce conversion rate?
Keep the purchasing process short.
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.
Increase in website speed
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.
Flexible web design
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.
Add Customer Reviews
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.
Live Chat Support
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.
Add up to the urgency.
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.
High-Quality Product Images
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.
Add up videos
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.
Focus on the landing page
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.
Easy refund and exchange policy within a Limited time
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.
Different payment options
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.