I think that everyone will agree with the fact that the main goal of every eCommerce store is to sell and gain more revenue for its company. According to a report by PostNord European consumers have spent almost €180 billion on their online purchases. So, as you can see there is quite a big cake to be shared.
Having that in mind it is really easy to come to conclusion that a high conversion rate is an essential thing in order to sell more. You can have the whole traffic of the internet but without good conversion your incomes will be still miserable. Nowadays there are many techniques, services or simple tools which can help increase conversion rate of your e-shop and I’ll take you through 2 easy, yet essential ways to boost conversion rate.
A quick definition: Conversion Rate is defined as the total number of purchases divided by total visitors. If you make 1 sale out of 100 visitors on your site, your conversion rate is 1%.
So what is the average conversion rate? The numbers show that when we are talking about the eCommerce industry the average CVR is 1-3% . However, the truth is that it is hard to measure it because it all depends on different aspects and it is highly contextual. Conversion rate of jewelry store selling €10,000 worth diamond rings will be totally different than a store selling €5 underwear. Sometimes it can be even hard to make a comparison between sites in same industry selling similar products. It is because they can have different audience, brand perception, traffic source, traffic quality etc. That is why I would suggest not to copy every step of your competition in that matter and try to be your own benchmark for a while.
But what are the ways to increase CVR?
Zig Ziglar once said that there 4 reasons people won’t buy from you: no need, no money, not in a hurry, no trust. They do not know you and they need to trust you in order to buy anything. Would you buy a smartphone from a random person on the street? Probably not.
There are simple ways to make your shop more trustworthy:
- Make it easy to contact you
- Whenever you can, brag with every certificate you have (security, customer service etc.)
- Show that there is a real organization standing behind your site (office address, no. of membership in chamber of commerce etc.)
- Try to be restraint about promotional content (nobody likes to many popups and ads)
- Try to avoid any errors on your site no matter how minor they are (sometimes even a spelling error can cause user to leave your site)
- Happy customers – it’s always good to have some customer recommendation plugin within your shop, cause if somebody already bought from you and he is happy why shouldn’t I be?
Make it more easier to buy from you
Remember people are living faster, they tend to have little time and sometimes their decisions are quick and intuitive. They don’t want to spend too much of their precious time trying to buy something – they simply want to buy it.
First of all take a look at your purchase path. If it requires to fill up long forms and it consists of 4- 5 (or more) steps in order to complete purchase there is high probability it will scare off the customers. Try make it as short as possible (if your shop is on Magento I would recommend to check out One Step Checkout plugin). Also don’t force the customer to register on your service in order to buy a product. Think about it: you enter a grocery store and somebody informs you that you can buy anything unless you will register in their system. Without any second thoughts you would leave that shop and go to the next one.
“More is less” – eliminating consumers choice can reduce anxiety of shoppers. Try not to give your customers to many options in specific areas (payment methods, delivery options). The more options they have the more confused they get. Try to limit options in those areas to 2-3 max. And if we are speaking about delivery options the research shows that almost 50% of basket abandonments happened when clients realize that shipping costs are too high. Of course not every business can afford to offer a free shipping, but imagine how would your sales number look like if you could convert half of those clients to sales? If you’re still a bit pessimistic and not sure about that idea, try to offer free shipping to your clients for limited time and check out how it works.
Shipping is one thing, but it’s also significant to have a clear and understandable return policy including an information about given time to return purchased goods.
Customers are always more likely to buy a product if they can return it for free in case they don’t like it or it doesn’t fit them (I think this is a kind of must for a fashion industry, where people can’t fit clothes before buying them).
Need advice on how to improve conversion rate on your site? Don’t hesitate, contact us!