Whether you’ve been the owner of an online store for months or you’ve just started offering your products on the internet, in order to grow your sales, you’ll need to implement marketing strategies to prompt users to make a purchase, subscribe to your newsletter or create a client account.
It isn’t enough just to be present on the internet. Once your online sales space is active, you’ll have to make sure that you’re visible, that you stand out from your competitors and that you offer your prospects a shopping experience that’s simple and efficient. Numerous platforms like Shopify, Magento and WooCommerce offer you tools to optimize and maximize your conversion rates. However, if you don’t yet have an online store or if you’re thinking about switching platforms, check out last month’s article, Everything you need to know about online stores, for guidance.
What are conversion rates?
A conversion rate—also known as a transformation rate or flow-through rate—is the proportion of unique visitors to your website that perform a purchase action (making an order, requesting an estimate, etc.) or subscription action (signing up for your newsletter, creating a client account, etc.). This proportion is expressed as a percentage.
A few key figures
To help you set a reasonable target conversion rate, depending on your retail sector, here are some important data:
- Clothing and accessory stores exhibit an average transformation rate of 2.44 percent.
- The average rate for sporting goods stores hovers around 1.75 percent.
- For all markets combined, the average is approximately 2.34 percent.
You can either target the conversion rate for the line of business you’re in or simply align yourself with the overall average. In either case, if you’re able to reach a conversion rate of two to three percent, you’re off to a great start!
Obviously, once potential customers have landed on your website, you’ll want to make sure that they perform a purchase action. Therefore, you must optimize it to achieve the highest possible conversion rate.
How to increase conversion rates in your online store
There are numerous techniques for optimizing conversion rates. To help you grow your sales, here are 10.
1 – Develop an attractive merchant site
Did you know that 89 percent of consumers purchase from a competitor after having a bad user experience?
That’s why it’s vital for your website to be up-to-date and easy to navigate. Important information should be easily accessible, and the visual elements (logo, style, colors, etc.) should faithfully represent your company. This will create the best possible conditions for users to make a purchase.
It’s also essential for your website to be rapid, fluid and efficient. In today’s world where everything goes quickly, you must ensure that your store is technically high performing.
2 – Design appealing product listings
Your product listings must be attractive and clear. Use high-quality photos and videos that cover every aspect and feature of your products. The listings should include detailed descriptions that explain the unique benefits and characteristics of each product.
Implement a product comparison tool to make it easier for your prospects to choose the best product for their needs.
3 – Simplify the ordering process
Clients have to perform a certain number of actions in order to finalize a purchase. By simplifying the payment process or by allowing users to make orders as guests without having to create an account, you’ll reduce the number of steps.
4 – Perform A/B testing
A/B testing consists of presenting two different versions of your merchant site to internet users. To optimize your conversion rates, you can test various aspects, such as colors, photos or videos, banners, design, text, etc., to see which ones get the best results.
There are several tools available to help you do this, including Optimizely, Google Analytics Experiments and Kameleoon, among others.
5 – Recover abandoned shopping carts
Abandoned shopping carts are a veritable plague for online businesses, as 50 to 75 percent of internet users who add a product to their cart fail to follow through with a purchase.
To increase efficiency, implement a rapid automatic process for recovering abandoned shopping carts by sending users a personalized email with an incentive to finalize their purchase.
This will also give you the opportunity to ask them why they abandoned their carts so that you can perhaps improve the shopping experience.
6 – Optimize your website for mobile devices
Currently, smartphones are the second most commonly used means of browsing the internet. In order to sell online, your store must be mobile-friendly and ergonomic, in keeping with best practices.
7 – Include customer reviews
A full 85 percent of consumers do research before making a purchase. Shoppers tend to trust their peers more than the brands, themselves. When deciding whether to buy a product or service, they rely on the reviews and testimonials of other customers.
8 – Offer special promotions
To prompt users to make a purchase, there are numerous promotional techniques, including the following:
- Strikethrough prices
- Promotional codes
- Free delivery
- Gift cards
9 – Prioritize security
In order to gain the trust of your users, it’s important to have clearly visible security certificates (for example, a secure transaction icon). Your website must be reliable and secure.
10 – Be present
By installing a live chat system, you’ll enable your users to interact with you directly so they can get answers to their questions right away.
Would you like to increase conversion rates in your online business? Call on the experts at BJMédia! Their team of professionals specializing in eCommerce can create a merchant website designed to sell, presenting your products in their best light.
Sources: Shopify and Lightspeed