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Saanvi SinghContent Writer and Social Media Strategist
Answered on Last week
When we talk about e-commerce, the conversion rate is the percentage of people who visited your online store and completed the purchase. Although on a broader perspective, conversion doesn’t only equate to sales. For an online business, it could be an item added to the wish list or cart, social media shares, signups or registrations, any KPI(key performance indicator) that is fulfilled by a customer. Marketers often practice conversion rate optimization (CRO) to enhance the buyers’ experience on their website to meet certain KPIs. The strategies that help attain certain KPIs through landing/category pages or multiple customers’ touchpoints like social media platforms, websites, events, discussion panels etc. As per BigCommerce, the average conversion rate of an e-commerce website is 1-2%. Even if you have the best of the website and products – the conversion rate cannot go beyond 2%. And to reach there, you have to make incremental improvements in the customers’ buying journey. Exceptional recommendation engineDid you know that 45% of customers complete the purchase because of personalized recommendations? You are missing out on a momentous opportunity if you’re not keeping a check on the browsing history of your customers. By tracking numerous data points such as – preferences, purchase history, demography, locations etc you will be able to highlight products that are on top of visitors’ minds. Persistent shopping cart 56% of the visitors add items in the cart and complete the purchase after a week or months. Buyers are recommended to employ persistent shopping carts because it positively influences the buyers’ purchase decision. Minimize cart abandonment Many buyers abandon the cart when they witness the shipping is not free and the sign-up process has a long-form registration. Online buyers do not like surprises especially the ones related to shipping– so mention the shipping costs clearly with the rate tags. With that, make sure you add a guest checkout feature to fast-forward the check-out process. Live chat support through conversational AI botsMake the buying process seamless by integrating chatbots for the customers. They effectively and conveniently address the multiple doubts and issues regarding the products and services of a company so there’s no scope for drop-offs. Add reviews and remarks Reviews act as a badge of credibility and build trust in your products. Before purchasing a product, an average customer reads 10 reviews to arrive at a decision. So, it is highly recommended that you use them.Create urgency/scarcity Nothing gets the conversion going like the element of FOMO (Fear of Missing Out). The scarcity and urgency create exclusivity factors that buyers don’t want to miss out on. Final wordsThere are numerous drivers for CRO, however, you need to run A/B testing to find out which one works best for your organisation.
When we talk about e-commerce, the conversion rate is the percentage of people who visited your online store and completed the purchase. Although on a broader perspective, conversion doesn’t only equate to sales. For an online business, it could be an item added to the wish list or cart, social media shares, signups or registrations, any KPI(key performance indicator) that is fulfilled by a customer. Marketers often practice conversion rate optimization (CRO) to enhance the buyers’ experience on their website to meet certain KPIs. The strategies that help attain certain KPIs through landing/category pages or multiple customers’ touchpoints like social media platforms, websites, events, discussion panels etc. As per BigCommerce, the average conversion rate of an e-commerce website is 1-2%. Even if you have the best of the website and products – the conversion rate cannot go beyond 2%. And to reach there, you have to make incremental improvements in the customers’ buying journey. Exceptional recommendation engineDid you know that 45% of customers complete the purchase because of personalized recommendations? You are missing out on a momentous opportunity if you’re not keeping a check on the browsing history of your customers. By tracking numerous data points such as – preferences, purchase history, demography, locations etc you will be able to highlight products that are on top of visitors’ minds. Persistent shopping cart 56% of the visitors add items in the cart and complete the purchase after a week or months. Buyers are recommended to employ persistent shopping carts because it positively influences the buyers’ purchase decision. Minimize cart abandonment Many buyers abandon the cart when they witness the shipping is not free and the sign-up process has a long-form registration. Online buyers do not like surprises especially the ones related to shipping– so mention the shipping costs clearly with the rate tags. With that, make sure you add a guest checkout feature to fast-forward the check-out process. Live chat support through conversational AI botsMake the buying process seamless by integrating chatbots for the customers. They effectively and conveniently address the multiple doubts and issues regarding the products and services of a company so there’s no scope for drop-offs. Add reviews and remarks Reviews act as a badge of credibility and build trust in your products. Before purchasing a product, an average customer reads 10 reviews to arrive at a decision. So, it is highly recommended that you use them.Create urgency/scarcity Nothing gets the conversion going like the element of FOMO (Fear of Missing Out). The scarcity and urgency create exclusivity factors that buyers don’t want to miss out on. Final wordsThere are numerous drivers for CRO, however, you need to run A/B testing to find out which one works best for your organisation.
When we talk about e-commerce, the conversion rate is the percentage of people who visited your online store and completed the purchase. Although on a broader perspective, conversion doesn’t only equate to sales. For an online business, it could be an item added to the wish list or cart, social media shares, signups or registrations, any KPI(key performance indicator) that is fulfilled by a customer.
Marketers often practice conversion rate optimization (CRO) to enhance the buyers’ experience on their website to meet certain KPIs. The strategies that help attain certain KPIs through landing/category pages or multiple customers’ touchpoints like social media platforms, websites, events, discussion panels etc. As per BigCommerce, the average conversion rate of an e-commerce website is 1-2%.
Even if you have the best of the website and products – the conversion rate cannot go beyond 2%. And to reach there, you have to make incremental improvements in the customers’ buying journey.
Exceptional recommendation engine
Did you know that 45% of customers complete the purchase because of personalized recommendations? You are missing out on a momentous opportunity if you’re not keeping a check on the browsing history of your customers. By tracking numerous data points such as – preferences, purchase history, demography, locations etc you will be able to highlight products that are on top of visitors’ minds.
Persistent shopping cart
56% of the visitors add items in the cart and complete the purchase after a week or months. Buyers are recommended to employ persistent shopping carts because it positively influences the buyers’ purchase decision.
Minimize cart abandonment
Many buyers abandon the cart when they witness the shipping is not free and the sign-up process has a long-form registration. Online buyers do not like surprises especially the ones related to shipping– so mention the shipping costs clearly with the rate tags. With that, make sure you add a guest checkout feature to fast-forward the check-out process.
Live chat support through conversational AI bots
Make the buying process seamless by integrating chatbots for the customers. They effectively and conveniently address the multiple doubts and issues regarding the products and services of a company so there’s no scope for drop-offs.
Add reviews and remarks
Reviews act as a badge of credibility and build trust in your products. Before purchasing a product, an average customer reads 10 reviews to arrive at a decision. So, it is highly recommended that you use them.
Create urgency/scarcity
Nothing gets the conversion going like the element of FOMO (Fear of Missing Out). The scarcity and urgency create exclusivity factors that buyers don’t want to miss out on.
Final words
There are numerous drivers for CRO, however, you need to run A/B testing to find out which one works best for your organisation.
