Knowledge and in-depth analysis of certain subjects around the ecommerce platforms are paramount for the success of a business. An entrepreneur must seek to know what is ecommerce conversion and how to achieve it.

Ecommerce conversion refers to the rate at which a business turns visitors into customers within a given duration of time. The conversion rate is always in percentage form. Ecommerce platforms differ and to give a comprehensive answer to what is ecommerce conversion, consider factors such as the type of product, industry or trade sector, the source of traffic, your country and the device your clients use to access your platform.

For ecommerce businesses to build their portfolio and stand out from the rest, there is a need to understand what is a good ecommerce conversion rate and associated advantages. There are numerous methods to acquire a high conversion rate, and businesses should not hesitate to use them to their advantage.

Benefits of Improving Ecommerce Conversion Rate 

An improved ecommerce conversion rate comes with several benefits which include the following:

1. Growth in Revenue

The desired action of any business is to have their followers or sign-ups to purchase a product or service. Improving your conversion rates will, with time, increase your clients, thus increasing the amount of revenue a company collects.

1. Added Value to your Ecommerce Platform

High conversion rates add value to your website in terms of user experience, credible and compelling content and good customer service, thus adding value to the products or services the company provides. A combination of these practices boosts the worth of your platform.

iii. Improves Company’s Credibility

A high conversion rate will help your company to rank top in business and acquire referrals. This way, more people get to know about the industry, and this builds a brand and a name around it. The significant advantage of having such is that customers develop trust in that business as it is known. Further, they are more likely to buy products and services from known brands.

1. It is a Form of Remarketing

Former customers provide an advantage in marketing as they make up a considerable percentage of the responsive audience. High conversion rate allows the company to persuade the undecided clients to buy a given product or service.

A good ecommerce conversion rate allows you to advertise a product to a market that already has knowledge that the product exists. The company saves on time and money that would be used to market the product to strangers.

1. Better Chances of Becoming a Market Leader

The conversion rate of a business tracks how many times you take over the market. The market is not a fairground, and in ecommerce, the leader takes it all. It means that the winning platform has advantages over other businesses.

These advantages include increased value in products, brand exposure and social proof. The art of drawing more visitors to your business and turning them into clients becomes more critical to your business evolves and overrides the need to have more sales.

Customers are a significant resource for a company. More customers translate to having better marketing prospects and competitive advantage.

How to Improve your Ecommerce Conversion Rate

There are several tips and ways to improve the conversion rates. These include the following:

Embrace and Use Different Promotion Strategies

Customers are more likely to purchase products or services that they have heard of before or used. It is, therefore, essential to make the public aware of what your company sells. For customers to know about your brand or company, you need to come up with a promotion strategy.

While it is possible to use one particular method, different companies prefer to use a combination of two or more ways depending on their market size and the purpose of marketing. Coming up with a set of strategies that promote the services or goods offered by your company will increase customers’ knowledge about your company and place you at a better position when it comes to sales.

Some of these methods include:

• Branded Giveaways
• Product Giveaways and Samples
• Holding Competitions

Branded giveaways

Simple, usable gifts such as pens that have the name or logo of a company will do much better in selling your brand compared to distributing flyers and business cards. Branded gifts are more intriguing, and there is a higher chance of the customer reading the text printed on the present.

Product Giveaways and Samples

This technique is not only crucial to businesses introducing a new product or service in the industry. It works for existing products and services as well. Samples and giveaways allow both existing and new clients to have a feel of your company’s merchandise, thus enticing them into buying the product or trying the service. In products such as software or applications, there is a free trial period that allows users to test the product before buying it.

Holding Competitions

Many companies use this promotional method as a way to publicize the firm to the public. The idea is to have as many people as possible, competing for different prizes. Prizes are enticing, and contestants draw attention to your product. For example:

(Image Credit: Wishpond)

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Use of Live Chat Support

Live chat support refers to conversions between customers and support teams via the web by use of texts. Customers expect that the company listens to them and helps them solve a problem related to the product. Excellent customer service increases the chance of customer purchasing goods or services and is most preferred by online buyers.

Live chat support enables the support team to answer to different clients simultaneously making it a cheap method of customer support compared to emails and phone calls. This way, a company is assured that investment in customer service yields a good ratio of return on investment.

Live chat provides an avenue to connect with potential customers as well as loyal customers and assure them that your product is worth their money. Also, interaction with clients increases their trust. If a client asks a question and they get a response almost immediately from the customer service agent, they are assured of help.

Using emails and phone calls can persuade a client to buy a commodity, however, adding a live chat to your Ecommerce Platform guarantees an increase in conversion compared to the two methods.

Improve the Website Responsiveness

Rising statistics in mobile phone users and online shopping through mobile devices has made it essential to ensure that your website is responsive regardless of customers’ device. Responsiveness of a website refers to a site’s ability to adapt and fit different screen sizes and hardware devices.

A responsive website allows the website elements to shift appropriately on smartphones, tablets, or desktop monitors, allowing more visibility of essential items on the site. Responsive websites eliminate the frustrations and painful experiences that require pinching and zooming the website on mobile devices to view the site content.

Clients on mobile devices no longer have to waste time as they can quickly and swiftly search and find a product or feature on a responsive site. Increased loading time caused by redirection on non-responsive websites during search and navigation on the site is obliterated.

Did you know??? 75% of smartphone users expect to get immediate information while using their smartphone. (Hubspot)

Responsive website results in a presentation of images in scrollable slideshows and better perceptibility of page content, reviews, call-to-action-buttons, price payment, and shipping options. Customers visiting a website with easy mobile navigation are more likely to convert than when having a horrendous user experience on a non-responsive website. Thanks to technological advancements, there are tools available to simplify and streamline website usability on mobile devices. For example:

Using Images and Videos

It is in human nature for people to want to see what they are buying and without doubt, images and videos communicate better and faster than text. Visualizing commodities in the right context and at different angles increases traffic to your website. Nonetheless, having colossal traffic to your website with no conversions is a waste of advertising resources. We have a vast ground to cover, so let’s see how we should use images and videos for a higher conversion rate.

Including high-quality visual media creates a perception of superior quality of the goods on sale. Top-quality images and videos boost the customer confidence about the company and product on offer. Short entertaining and informative videos help customers not only to be hooked on the website but to get knowledge on how the product works. Videos help to answer questions that prospective consumers have and reduce the worry of your product, not satisfying their expectations.

Videos and 360° images provide customers with alternative and comprehensive views of the product. Captivating videos and photos cause viral sharing that draw the attention of your target audience, generating leads for conversion. Customers who use the site search are more likely to convert if the search dropdown window contains product images.

Videos and images show the context in which the product is used to communicate better and evoke consumer conversions. By displaying successful and joyful people that use your product cause a good ecommerce conversion rate. Using the right videos plus images builds customer trust, amplifies business visibility through likes or shares and acts as call-to-action directional cues. These are the basis of what is a good ecommerce conversion rate.

FACTS: 99% of people who use video for marketing say they’ll continue using video in 2021.  88% of video marketers reported that video gives them a positive ROI. (Hubspot)

Customer Testimonials and Reviews

Testimonials and reviews act as the voice of the consumers about a product. Reviews serve as social proof of how previous customers think about your brand, customer experience and how the product meets the needs of the consumers.

Most buyers rely on what other consumers say about a product to inform their purchasing decision. Interactions of customers with a site review lead to humanizing a brand, improved click-through rate, more conversion rate for ecommerce sites and better average order value.

Since reviews affect conversion rate, what is good ecommerce conversion rate is the authenticity of the reviews.

The authenticity of the review entails positive and negative feedback. Sites with authentic reviews and testimonials enhance the credibility of the website. Placing reviews on the homepage is instrumental in the event a visitor requires more convincing about your product. For instance:

(Image Credit: Delighted)

Having verifiable particulars the customer displayed such as name, locality, picture and link to the primordial review intensifies the trustworthiness of the site. Soliciting reviews using alerts and pop-ups testimonial form and post-purchase features can help your website to be persuasive.

Gathering responses about your brand from an email survey and blogs enlarge your review scope. Through adding reviews on promotional materials, sales presentations, and videos have remarkable candor about your product.

Analyzing Website Traffic

Statistical data provides useful insights into the website when proper analysis is done. Metrics from your web analytics will inform you on what is a good ecommerce conversion rate and areas that require improvement. Understanding customer behavior allows you to know what actions they take once they visit your page. Demographic data on the gender, intent, age and location informs you who is converting and from which area.

Research on gender demographics helps make a comparison of what is a good ecommerce conversion rate of the males as opposed to women. Depending on the kind of product that you sell, you can know which gender is more likely to purchase your products over the other. Data of visitors from a given location will guide a business on the number of resources to allocate in its marketing strategy over another area. Here is an example of a user tracking demographics:

(Image Credit: Search Engine Journal)

Metrics on the significant sources of traffic, the pages viewed, and time spent on a particular page help in forecasting future trends. A business owner can determine the kind of content and keywords that attract quality traffic generating leads for conversion. Competitor analysis will assist site owners in knowing which areas are doing poorly compared to competitors. Derived analytics help in identifying the gaps that have been missed by rival companies providing areas of opportunities.

Evaluating the Content Strategy

Relevant content is a powerful tool in generating leads and high conversion rates. How you express your product, determine how the customers perceive about you. Content that converts evokes emotions and desire to purchase a commodity. Using catchy titles lures readers to visit your website and inspires them to read your post or article.

Educative content on how your products offer a solution to customer needs, help to optimize the conversion rates. Using the right keywords and adding more information about your product than your competitors can help attract more web traffic. Making your content easy to scan with appropriate subheadings help readers to get specific information fast.

Creating some sense of urgency is a good method that boosts sales and avoids links that distract your readers from your site before the call-to-action has been attained. Avoid lots of promotional text but instead, offer advice on why consumers should choose your product.

We hope that you found this article useful.

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Use Social Media

Regular post of your products on social media helps to promote your brand and website. Integrating social media links to your website increases the credibility of your business and brand product. Social media platforms have proved successful in developing brand awareness and increasing conversion rate for ecommerce sites.

Influencer marketing increases brand notoriety and product conversions. Using the right social media platform is important depending on your niche, ensuring that you maximize on the one that best suits your business.

Creating contests and promotions for your products help to improve the sales of a business. Contests prompt your followers to comment, like, share and retweet posts to increase your company awareness. Social media allows endorsements that build your credibility. For example:

(Image Credit: Social Media Week)

Allow Multiple Payment Methods

Assimilating popular payment options to your website, such as bank transfers, direct debits, and PayPal increase the likelihood of conversions. Researching the preferred payment options used by the target market in different states, regions or countries helps the business to increase sales. The image below shows an example of multiple payment options provided by Amazon:

Various payment methods reduce abandoned carts, improve the trustworthiness of a brand, enhance customer experience and a trouble-free checkout experience. Websites supporting multiple payment options augment customer satisfaction and the site.

Ensure a Fast Exit Process

Personalization enables you to meet each user or client at the point of their need. Having a customer create an account is the ultimate goal of personalization as it enables you to know more about the customer and serve them better.

Most businesses make the mistake of forcing clients to create an account with them just before checkout. This method may cause your business to lose buyers at the end of the day. Investing time and money to ensure that you create products that attract and meet the needs of your clients and lose all that at the point of purchase is a waste of the company’s resources.

The wise thing to do is let the buyers make that decision by themselves. Also, provide ways in which a buyer can continue purchasing items without necessarily having to start the process from scratch. Allow them to have options through which they can add items into the cart.

One of the strategies to ensure that the customer does not abandon the cart is giving simple graphics that indicate their shopping progress and your expectation during the checkout. Further, provide an add to cart option to the customers by including it in the detail page of a product.

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