Your ecommerce conversion rate is the percentage of users visiting your website who have purchased something from your online store. In a set period of time). The average conversion rate of an online store is around 1-2%. In this article, we’ll share techniques to increase your eCommerce conversion rates.
Calculating eCommerce Conversion Rates
Before discussing the formula, let’s define what we mean when we say conversion. This is a broad term that could refer to anything from newsletter signups, buying a product or service, downloading an e-book, completing a form, and so on. Basically, a conversion occurs when a website visitor completes a desired action.
This means: to calculate a conversion rate, you need to know what you’re trying to measure. It’s a matter of having clearly established business goals, and being able to translate those into quantifiable website metrics. To determine a conversion rate, divide the number of goals achieved in a given time frame by the total number of visitors to your website, then multiply that number by 100.
Conversion rate = (Conversions or goals achieved / Total visitors) * 100
So if your landing page had 16,982 visitors and of those, 3,604 took the desired action, then your conversion rate is 21.22%.
Increase eCommerce Conversion Rate
Okay, let’s get to the good stuff. We all know that slight changes to your online store can have an incredible impact on your sales. So here are a few of our favorite online store tweaks you can implement to make a real difference.
Customer Pain Points
A pain point is a specific problem that prospective customers of your business are experiencing. In other words, you can think of pain points as problems, plain and simple. Like any problem, customer pain points are as diverse and varied as your prospective customers themselves. However, not all prospects will be aware of the pain point they’re experiencing, which can make marketing to these individuals difficult as you effectively have to help your prospects realize they have a problem and convince them that your product or service will help solve it.
Images And Videos To Increase Conversions Rates
When purchasing products online, customers don’t have the ability to touch and feel your product. They don’t even have the ability to properly see if its color matches the one presented to them on screen.
To alleviate these concerns, make sure to provide clear, high quality and accurate images that represent what you’re selling. Add in lifestyle shots, shots to indicate the size and make sure your customer can zoom in on an image to see the detail. 69% of consumers believe a product demo best assists them when making a purchase decision. So it increase conversion rates – Wyzowl
Online stores are now starting to fully embrace the impact of video on their ecommerce sales. Even a simple video showcasing the product from different angles could be the difference between a sale, and an abandoned cart.
Ask Questions And Reply
When visiting your site for the first or even second time, most potential customers know nothing about you or your online store. If they purchase anything, they’re essentially placing their trust in you to deliver what you say you’re going to. At the same time, the customer may instantly have a bunch of questions on their mind about your product that you need to answer before you lose them. Things like:
- Shipping free
- Is there a warranty?
- Pay with PayPal
- How long will the shipping take?
- Cancel or return policy
All of these questions can be pre-answered by you in a FAQ right on the product page to increase conversion rates. Make sure the answers to these questions are obvious, honest and simple to understand.
Another way to showcase the answers to some of these questions is to have the answers as prompts throughout the buyer’s journey or on the product page. Here’s an example of that in action on one of our product pages:
Live Chat Increase eCommerce Conversion Rates
Sometimes no matter how hard you try, you simply can’t know all the questions a potential customer might have. If your product is more of an investment, i.e it will take a little more time or money from your customer, then it might be worth adding chat functionality to your site. With this in place, customers can alleviate their concerns quickly and easily, instead of having to wait for an email in reply.
If you’ve done everything right, your product images are top-notch, you’ve answered all possible questions and are still not making sales, then your checkout may be at fault. I’ve mentioned previously that customers need to trust you when purchasing a product. Well, it’s at the checkout where this trust needs to really ramp up.
By creating a simple checkout with payment logos, testimonials, and trust seals, you can make sure that your site is seen as trustworthy. We’ve already broken down our favorite sales optimizing checkout techniques which you can read in another post.