Online businesses are becoming so common that they have become almost a routine idea. To make customers withdraw their purchase, you need a motive strategy. This strategy must be in place after product sourcing, store setup, and advertising campaign. Conversion is the term used to describe how brand websites convert web traffic into revenue.
Low conversion rates indicate that the site isn’t performing well enough to achieve the initial goals. These are the key points that e-Commerce marketers must remember to optimize conversion rates to make more transactions.
A general look at the conversion rate on eCommerce platforms
What is the e-Commerce conversion ratio?
The conversion rate (CR) is the percentage of website visitors that complete an action in online shops. The business’s goals can influence the conversion rate. However, online sales, product add-to-cart or wishlist purchases, website registrations with email, and social media shares are all examples of conversions.
Optimization of conversion rates
Without proper optimization, conversion cannot happen. Optimization of conversion rate (CRO), is a process that increases the number of visitors to a website by understanding how customers move through an online store. It also identifies what business actions should be taken to improve site performance. Any page or touchpoint on a site can show a conversion rate optimization.
Good eCommerce conversion rates
How do you calculate the conversion rate?
The suggested manual formula
Conversion Rate = (conversions/total visits) * 100%
Example: There are 5,000 successful orders out of 50,000 monthly visitors. This online store has a conversion rate of (5,000/50,000) * 100% = 10%
This store makes $100,000 per month if it has a $20 average order value. What happens if the conversion rate is increased to 15%? Answer: An additional $50,000 per month.
Many analytics tools have been created to speed up the data sorting and analysis process, thanks to the rapid development of big data. Many analytics tools allow website managers to quickly see the performance of their sites by providing an automatic conversion rate calculation.
Google Analytics is one of the most popular tools worldwide. Google Analytics integrates with Google Ads and Data Studio to provide a detailed understanding of the analytics collected from websites. Google Analytics allows businesses to track conversions. This includes how customers search for products, their origin (returning customers or premiere customers), the operating system and device they use to browse the site, and, most importantly, how many people made final transactions that lead to conversion.
A high eCommerce conversion rate is the standard
A study from 2017 shows that the eCommerce platform’s average conversion rate is only around 1-2%. The conversion rate is not reflected in the single statistic. Optimizing for high conversion rates requires more than just product quantity and pricing. It also requires business marketing strategies to be considered. Businesses must be aware of their conversion rates to determine if they are doing well.
36 ways to instantly increase conversion rates
Many business owners believe that spending money on website redesign or agency will increase site conversion rates. However, the problem is still present in many businesses. You can use many conversion rates optimization tips without spending too much money, but it is still possible to reach the conversion goals.
1. Improve product description
A product description that is clear and concise will help visitors make a decision about purchasing the product. This will increase conversion rates.
Clear formatting guarantees that customers who are interested in a product won’t bother to read long descriptions. Customers will be satisfied with the details of the product description.
If you want to give references to people who visit your website, be sure to include a summary of the key product features. This will help them decide if they are a good fit for the product and why they should choose it. To make products more appealing, emphasize the benefits.
Tip: One surprising but important way to answer shoppers’ questions is to improve their Frequently Asked Questions page. Strong FAQ pages can be a great way to retain customers and improve their perception of the store, which will help them convert prospectively. Businesses can also consider product attachments for enhancing the product page’s content.
2. High quality images and videos of products
Online shopping has the biggest disadvantage of not being able to physically inspect the product. To get a close look at the item, they can only rely on the images and videos provided by the website.
High-quality images and videos present a better product’s visual presentation to increase buyer willingness. Businesses often avoid showing product videos out of fear of high costs. However, studies have shown that videos can play an important role in increasing website visits and conversions. Businesses should remove this barrier and spend more money on product images and video production. Magento2 Image Gallery allows you to create unlimited albums with multiple photos and videos.
3. A proper sizing system is essential
Sizing is the main reason customers are hesitant to shop online or in-store. Many shops have sold their clothing with incorrect sizing, particularly clothing that was based on relative numbers or physical measurements. Customers can be frustrated by inefficient sizing systems that make it difficult to convert because they don’t know if the items they want will fit.
With a standardized Size chart, businesses can increase their customers’ confidence and drive more sales. Customers will have a smoother shopping experience and a better purchasing process if they are aware of the correct sizes.
4. Allow ratings and reviews
An GE Capital Retail Bank survey found that 81% of shoppers claim to have read reviews before making a purchase. This has shown that potential customers are more likely to trust reviews that reflect their actual shopping experiences. They may feel more confident if they read reviews that guarantee no problems when they convert purchases.
Every eCommerce site should have a review section. This can be done with either built-in reviews, or by allowing a free plugin and widget to display customer reviews. Capterra research found that a higher number of reviews can dramatically increase conversion rates. An investment in product review tools can bring many benefits to stores. The Product Reviews extension for Magento 2 works seamlessly with interactive review features that allow customers to leave feedback that can be easily logged by store administrators.
One thing that businesses might have experienced is the difficulty of getting customers to review your products. Customers won’t want to spend extra time after they have received the product. This could take anywhere from 5-10 minutes. Customers won’t want to do extra work after receiving the product. This is only true if they love or hate it, or if they are truly interested in sharing their experience with other customers.
Show star ratings if the situation occurs. Rating reviews by scaling stars takes only seconds and is very efficient. The higher the review is, the more stars it will get.
Email review reminders are becoming more popular as a friendly way to review. Although store owners can send emails to remind customers to leave positive comments about their order, it is still time-consuming to manually do so. Magento2 Review Reminder extension can be used to solve this problem. Customers will receive an email asking for feedback on the product purchased.
5. Shipping free of charge
More than half of eCommerce merchants offer shipping free of charge, regardless of whether the shipment is attached to a condition. Shipping fees are one of the most important factors when making a purchase. High shipping costs are the leading reason for cart abandonment.
Amazon’s conversion rate climb-up success story is reflected in their free shipping policies. Free shipping is now an essential part of today’s market. Free shipping is a psychological trick that draws more people to the idea of “benefits.” To keep resources intact, rationally increasing the product price in order to cover shipping costs is the best way.
An optimal tool to improve execution is required in addition to a compelling free shipping policy. Magento2 Free Shipping Bar Extension is a fantastic recommendation to increase customers’ shopping carts while offering them attractive free shipping offers.
6. Offer confidential, limited-time coupon codes
Customers will feel more satisfied when they know that their order qualifies for coupons codes, including discounts on selected products and shipping fees. You should create coupon codes that are only valid for a specific time and require certain conditions to be used. Customers may receive secret coupon codes to illustrate the benefits of multiple special orders. However, the deadlines for the discounts create a sense of urgency which encourages customers to close the deal quickly.
Coupon codes can be automated to reduce business workloads and ensure customers have a great shopping experience.
7. Enhance CTA button quality
Changes in the button color do not affect the “call to actions” button quality. If buttons aren’t prominently placed and clearly visible, colors don’t play any role.
Consider which buttons should be called “call to actions”, particularly those that have a direct effect on the steps that may lead to the purchase, such as “add-to-cart” or “checkout”.
Walmart has once again proven that it is worthy of the top spot in the eCommerce market. This was due to its optimal button emphasis strategy. They are able to distinguish buttons based upon their importance and necessity. “Add to list” or “add to registry” don’t matter when the blue “add-to-cart” button is available to increase margins.
Customers shouldn’t have to search for buttons or wonder if the text links provided are appropriate to perform an action. A smooth shopping experience with CTA buttons will ensure a significant increase in conversions.
In order to increase conversion rates, online shops are adding AJAX technology more frequently to the “Add To Cart” button. AJAX cart allows buyers to add items to their carts immediately from the Home page, Product Listing Pages or QuickView popup. An Add-to-Cart Popup allows buyers to add to their wishlist and compare items. These pages are available instantly for buyers whenever they want to view the details of their wishlist and compare items.
Quick View & AJAX Cart Extension Magento 2
Enhances the shopping experience and increases conversion rates
8. Improve site navigation
Web designers are usually responsible for creating a website’s navigation. They may have specialized in web design, but may not have used basic marketing principles to attract customers.
The website’s navigation determines whether it is performing well enough for customers to stay engaged. A strong site navigation maximizes search engine functionality to better track customers’ preferences. However, a difficult one could frustrate visitors’ patience and cause them to abandon the website.
It is imperative to improve website navigation immediately. A combination of effective progress methods and a layered navigation final that gives customers shortcuts to their desired items through lists or filters will increase customer satisfaction.
9. Avoid complicated checkout procedures
In 2018, a Baymard study found that 26% of US shoppers dropped an order due to the checkout process being too complicated. Merchants shouldn’t force customers to provide excessive information. They should keep it simple.
Stores can consider these criteria when designing a checkout page that is effective:
- One-step checkout: Customers will have a much easier experience navigating through categories if they can all be found on one page. Also, a one-step checkout form will enhance page loading speed which will decrease numbers of cart abandonments, compared to a multiple-checkout-pages process.
- Customers can check in as guests. This allows customers to shop without creating a store account.
- Eliminate unnecessary steps
- Customers’ information can be saved for future purchases: Optimized checkout pages should save shoppers’ personal data during the final checkout step, and then auto-fill it for the next purchase to give shoppers the best experience.
- Secure payment badge: The Checkout page is a great place to create a trust mark. This has a significant impact on customers’ purchasing decisions. The security badge, which is located below the “Place Order” button and includes possible payment methods, will ensure credibility and trust.
Magento2 One-Step Checkout extension provides outstanding additional features optimized for one page. Merchants will see a dramatic increase in their conversion rates and customers can speed up purchase steps.
10. Customers can log in to easily check out
Many businesses are now asking customers to log on with their email addresses during checkout. Customers are often forced to register with email when they make payment. This can cause customers to leave their order incomplete or cancel it.
Customers will need to include their name and contact information to receive delivery. Businesses can add them to an email list, then send them emails asking them for registration. Businesses can use Social Login extension to optimize customer time and effort. This allows customers to log in quickly to the store using their social media accounts, such as Facebook, Instagram and Google.
Magento 2: Free Social Login
Increase sign-ups by 30%
11. Easy return policy
Businesses’ long-term consideration for customers is implicitly expressed by a free return policy. Customers who hesitated at first to place final orders may find such policies as a guarantee. With more flexible return policies, loyal customers are less likely to switch to competitors with stricter return rules.
Businesses are experiencing a rising tendency to lose conversion ratios with each unreasonably long term. It is imperative to develop a timely strategy for rational return policies .
12. Always keep your shopping cart contents up to date
To make it easy for customers to double-check the items they have selected, be sure to place the shopping cart icon on every page. They will be less likely to complete the final checkout if they cannot find the cart. This will most likely lead to order cancellation and loss.
13. Use cart abandonment email
While cart abandonment is a common occurrence in all stores, the eCommerce winner is the one that cleverly addresses every cart abandonment.
Abandonment is a term that literally means a customer losing out during the checkout process. Brands can make things right by collecting email addresses during the checkout process. This act gives brands the opportunity to stay in touch with their customers via email. Emails can be used to remind customers to abandon carts so that they are more likely to return to the store and complete their purchase.
14. Competitive price
In order to attract more customers, stores that offer the same product lines are entering a price war. Products must be priced lower than the average. Companies must keep an eye on market prices and adjust their price levels accordingly.
Marketers should also conduct research in order to identify the right audience who may be happy with price offers. The best way to drive sales is to have a group of customers who agree with the prices being offered.
15. Optimize your website for mobile devices
In 2018, more than one-third of all online sales were made via mobile devices. Businesses that don’t capitalize on this trend are missing an opportunity to increase conversions.
Mobile optimization refers to the adaptation of website content for mobile device users. A mobile-friendly website will improve the user’s browsing experience by providing convenience that allows them to stay longer on-site, especially for those who are constantly on the move.
16. Clear contact information
One of the easiest ways to increase conversion rates is to add contact information to your website. Customers will feel secure and assured that they will be contacted if they have any questions or concerns. Contact information is a way to build trust and credibility.
17. Filter page to categorize
Customers will find the best products by using filters to navigate. Filters can reduce the number of product searches by thousands to a manageable level.
Businesses should conduct market research in order to determine the best way to filter the website. Then, analyze the data and create the filters that are appropriate for the product.
18. Provide quality content
Promoting merchandise is all about website content. Brands can engage more customers by adding unique quality to their content.
Imagine that competitors selling the same product fail to provide the best wordings. This scenario can be used by businesses to improve the user experience for their website visitors. This means that you should provide valuable content on your main pages and optimize the blog content to promote products through internal links. This strategy can increase SEO traffic and allow brands to reach larger audiences.
19. Chatbots are a great way to communicate with your customers.
Chatbot, an AI program that uses artificial intelligence, has given businesses a new way of communicating with customers and helped them expand their market reach. The automation technology enabled by AI Chatbots has revolutionized the way service-related tasks are carried out across many business processes.
Chatbots are a great way for businesses to communicate with customers as they can be reached on all messaging platforms. Chatbots can be used to provide support for customers who are making purchase decisions 24/7.
Chatbot developers try to make customers and tool interaction more fun by responding to customers’ unrelated questions with humor. Chatbots have been proven to be efficient in increasing store conversions by providing customers with both detailed guidance and comfortable “chit-chats”.
20. Conduct constant testing
While it is possible to take risks when running a business, business owners should still be able to manage them well in the long-term. While new ideas can help to enhance brand identity and competitiveness, not all ideas are adaptive.
To determine which ideas are feasible, it is important to test them constantly. Testing data can show customers’ response to a sample. This can help businesses decide whether to invest or stop making inventory.
21. Enable multiple filters
Customers are often overwhelmed when browsing online stores. They can be drawn to many options and not just one. Customers are more likely to want to view multiple categories in order to make the best buying decision.
Customers can use multiple filters to find the best products by suggesting shortcuts. With Layered navigation with Multi-filter, shoppers can now filter multiple product attributes using multiple select functions.
22. Collect emails
Visitors may visit more than one session before making a purchase decision. Businesses should take advantage of the opportunity to gather emails. However, they shouldn’t use methods that might upset customers. They can give coupon codes and discounts via a pop-up and then ask for customers to sign up for their email list to receive these incentives. Customers will be more likely to take advantage of these benefits once they have seen the benefits. This is called leads compilation and is the first step in your sales funnel.
The email marketing strategy relies heavily on the collected emails. This strategy has received a lot of positive feedback from entrepreneurs who have used it to increase conversions. To promote new product categories or send catalogs to customers, registered businesses can send emails.
23. Ensure quick page load time
The page loading speed has a direct effect on the user experience. Visitors won’t pay much attention to website content, no matter how great it may be, if they take too long to load a page.
40% of visitors will leave a website taking more than three seconds to load. This shows the importance of page loading speed in improving search engine rankings and potentially increasing conversion rates. To maximize loading speed, keep website graphics and design simple.
24. Customers are receiving incentives that prove conclusive.
Customers feel valued more when they are considered “special” by the business from which they purchase. Customized offers are more attractive to customers and make them feel valued.
This understanding may help brands to offer exclusive incentives. Exclusively incentivised customers are more likely to stick with the brand for longer periods of time. This will increase sales and convert rate.
25. AJAX Loading helps you avoid page reloads
Customers who want to filter product attributes or categories can become frustrated when the page loads every time they click. This will dramatically reduce conversion rates and may cause customers to abandon their search for other sites.
To address this issue, businesses should consider AJAX load products. The AJAX loading extension will only reload those parts of the page that have changed, and not the entire page. Customers can continue the work when page reloads have been reduced. This is because web applications appear to be available more often for customers.
26. Make landing pages simple and easy to find
The landing page is what visitors first see when they visit a website. If potential customers don’t find the landing page useful, they will leave your website within five seconds. This can lead to a drop in conversions.
A simplified landing page that guides new visitors to key sections like offers and customer benefits is always best. Customers will find it easier to take the desired actions on the page. These landing page extensions were ranked by Kobe Digital experts. They are based on the best features that businesses can find as references to create their ideal landing page.
27. Make it clear that you are selling the objection
A concise introduction that clarifies the business values and propositions of the brand is a good way to build trust. A section should be added to the website by business owners to explain why customers should become store customers. It should also describe what visitors can expect when they spend time on the site.
28. Price sliders optimized
Visitors are often reluctant to convert because of their concern about pricing. Visitors can get lost when browsing through thousands of merchandise on a website. They struggle to find products at a reasonable price that is within their financial means.
A price search box has been added by some web designers to allow visitors to enter their preferred price range. This manual step can be very time-consuming if customers want multiple price options.
Customers can save time by creating price sliders. Customers can set the desired price range by sliding the price bar, rather than manually entering it. This extension makes it easier for customers to quickly filter products.
29. Attach customer testimonials
Customer testimonials are a key component of converting visitors to stores when selling products on a website.
Customers leave honest reviews and comments about their products in customer testimonials. Businesses can use testimonials to show prospects that their products or services have worked. This will help build credibility and authenticity.
Effectively using marketing techniques and diversifying testimonial forms will attract more potential customers, resulting in a higher conversion rate.
30. Reducing the number of fields in forms and making them optional
Customers won’t find it valuable to fill out a lengthy form if it isn’t a waste of their time. Make sure you only include the necessary information and eliminate the rest. Then, decide how much the landing page form should be.
Business marketers can still require user data to perform more detailed analysis, but they don’t want to frustrate customers. They can make the form fields optional so that customers decide if they wish to give it.
31. Utilize personalization
Personalization refers to the customization of page content, visuals, and emails. To match visitor’s tastes and preferences.
A Infosys survey found that one-third surveyed consumers want to improve personalization in their shopping experience. Customers who shop online would prefer that stores remembered their purchase details and contact information. They also expect personalized service. An archive of customer data is required to automatically fill out checkout forms, especially in the checkout stage where all customers’ information will be gathered. This feature is also a great one on the Magento2 One-step Checkout extension, which focuses on personalization.
Personalization is a way to encourage customer retention through bonding trade relationships. This allows businesses to increase recurring sales and improve overall conversion rates.
32. Ask customers to share the product page.
Many web managers have not used the share button functionality of the share button, even though they added it to their websites. If executed correctly, a share button can be an effective marketing strategy. Every customer’s share can be a way to increase site traffic and drive more potential customers to convert.
Customers tend to abandon the page after they have completed payment for a product purchase. If they don’t receive any value or benefits from sharing, even if they stay, they won’t feel the need to share.
Incentivize customers who share with you by offering gift coupons and discount coupons. To increase conversion rates, equip your website with a social sharing button.
Magento 2: FREE Extension for Social Sharing
Multiple sharing buttons can be added to store websites
33. Optimize conversion rates to achieve success
Confirming that conversion rates are increasing is one of the best ways to ensure changes work. The increasing number of conversions does not mean that each visitor receives more value. It is our main goal to provide ideas and suggestions to optimize traffic received.
Setting up Google Adwords in stores is something businesses can look into. This tool allows store owners to advertise their website as Google Search Results advertisements. Businesses can use the Google Adwords Tool to manage their ads and track conversions to make adjustments to optimize conversion rates.
34. Chat live
Customers and brands can both benefit from live chat. Investing in live chat software increases customer service quality and minimizes costs while allowing customers maximum convenience.
It is important to ensure that live chat is only used when there are enough human resources available during business hours to respond to customers’ requests. These highly-recommended chat extensions can be used to provide references for companies. They also have outstanding additional features that will elevate your position in the customer service system.
35. Reduce text entry
It can be frustrating to type long texts on mobile devices with a tiny touch-screen keyboard. Visitors who are impatient may be willing to leave and go to other websites that have a better text entry area.
First, keep the text box concise and to the point. In this instance, keyword limitation is preferable. To reduce the amount of text required, you can also use drop-down menus or checklists. This will allow users to quickly access the information they need without having to type too much.
Visitors are reluctant to complete customer information forms due to fear of data leakage. Customers expect to be assured that they are “partnering with” a legitimate business with market security. Every business should make it a priority to have an official document that demonstrates their credibility on the site. This will ensure a high conversion rate.
The compliance with General Data Protection Regulation has been a recent eCommerce trend. The GDPR’s core component is user data protection via trade consent. This compliance requires that businesses assert the necessity for each customer field in order to determine which customer information they should request and then provide clear reasons why customers should not leave their personal data in stores.
These 36 techniques are guaranteed to be the most effective to convert customers to eCommerce stores. The art of CRO is not in how much financial inventory businesses invest to market. It’s about how efficient they modify their websites to make potential customers more adaptable.
Are you looking for conversion rate optimization tools for Magento 2 stores? It’s here!