How to improve the e-commerce conversion rate?
Conversion is the magic word for any company. It’s a goal that requires a lot of resources. And it’s not just about money, but also human resources, time, etc.
So how do you increase conversion rates without going bankrupt? We’ll look at it right now.
The average conversion rate. Is there one?
Yes, there really is. It is believed that 2% of conversion is quite normal, but many companies are confident – this is outdated data, and the average conversion rate is about 5-6%.
Hovewer, the data of 2020 shows us that, indeed, the average conversion rate for desctop and mobile users is 2%, while tablets shows the highest conversion rate – 3.3%.
Why is conversion really important?
Conversion directly affects the profitability of a business and investment. You can ignore the conversion rate and lose out to your competitors, or you can focus your efforts on increasing it and get several important benefits at once:
- Increase in income. If you increase the conversion rate you increase your income without spending millions on advertising which in reality gives zero return. The higher the conversion rate, the more your website benefits your business. The more interesting will be the content of the site, the more desire a potential customer will have to buy the product.
- Remarketing. High conversion is very important. All buyers are divided into 2 categories – those who bought the product once and those who become regular customers, buying again and again. Your goal should be to do just that. After all, whether you want it or not, most of the profits will come precisely from repeat sales.
How do you make the conversion rate higher?
You should not delude yourself into thinking that there is one golden formula for increasing the conversion rate, which will work 100% of the time and for any company. Alas, there is no such thing. But here’s the interesting thing … it turns out that for a significant increase in the conversion rate of the company sometimes need to make one or more changes. And they are not always expensive.
Numerous studies have shown that most sites with high conversions have a few things in common. For example, these companies’ sites load very quickly. Is this important? Of course it does! Today, even after waiting 10 extra seconds, a potential customer will close the site and go to a competitor. After all, they too will have the goods he needs.
Easy navigation. This is a very important factor, because customers need to quickly find the product they want, and not waste valuable time looking for it.
For the conversion rate to increase, it is important to offer visitors something of real value. The more valuable your offer is, the more likely it will be accepted.
Another not-so-obvious parameter is the choice of a reliable payment service provider. The checkout page plays a key role in the conversion, and over 18% of checkout abandonments come from an overly long and confusing checkout process. The PayOp company offers merchants a payment gateway not only with low commissions, but also various payment tools, including 1-click payments. With us, you can easily customize a payment page and delight users with a modern design.
How to increase a conversion rate? Simple steps.
So, what you should do to increase the conversion rate.
- Step 1: Compare conversion rates now and in previous periods. Google Analytics, a tool everyone is familiar with, will help you to observe such statistics. Understand where conversions are decreasing, how visitors are using your site, and what makes them perform a target action. If you’re using a platform like Shopify, you can find the conversion rate and other essential data in Analytics.
- Step 2: Make sure you are trusted. For conversions to be higher, your visitors must trust you. Pass them through the so-called “trust threshold”. Until this happens, they can stay on your site for a very long time, but they will not buy anything. Offer them something relevant that will get rid of their doubts that prevent them from buying. Be sure to provide as much information as possible about the company and products. It will reduce uncertainty. Be sure to use social proof. It works very well.
- Step 3: Make sure your site is easy to use. The more often a user visits your site, the more likely they purchase. But they are unlikely to come back to you if they faced even the slightest problem with its usability. Look at your visitors’ session logs to determine when problems occurred and how to fix the most common ones. Google Analytics also has a special “Behavior” report to help you as well.
- Step 4: Pay attention to content. To increase conversions, it’s vital not just to fill your site with useful content, but also to add triggers that will encourage visitors to make an action. For example, an urgency trigger. Show visitors that they need to make a decision as soon as possible, and they’ll get the most out of it.
- Step 5: Provide A/B content testing. Conversion does not depend on the amount of content you have on your site but on its quality. By doing this testing, you can get completely unexpected results. By making the right changes, you can increase conversions by 20-30% or more.
Don’t forget that the conversion rate reflects sales, but its growth does not necessarily lead to a similar increase in profits. So don’t forget to analyze other important factors on which your profits depend.