Conversion Rate Optimization Strategies to Boost Ecommerce
Ecommerce business emphasizes on attracting users and transforming them into buyers from mere visitors. The transformation of visitors into buyers reflect the increase in profit of your eCommerce website. Ecommerce store without effective conversion rate optimization strategies may end up with poor revenue streams. Therefore, there must be strategies to improve conversion rates.
Magento, the most popular and feature-rich eCommerce platform, has tons of built-in features and tools to optimize the conversion rate of your eCommerce business. Therefore, tying knots with Magento is definitely a wise decision for an eCommerce storefront for a good web identity.
Each store is unique and different with different products and design, different customer demography and so on. This means that each online store needs to be fine tuned to achieve optimal number of sales. Here are some of the strategies to boost eCommerce conversion rates:
1.Enhance UX: A fluid intuitive user experience is one of the best ways to engage your users. Having a killer home page that is aesthetically pleasing is the first step to keep a user on your site. Next, you must retain the user interest by providing informative, comprehensive and focused content (images, videos or text) regarding the products and services you offer along with it. Your retention and conversion rate will become more solid by creating a positive user experience .
2.Dynamic Website with Constant Updates: An excellent webshop that is crisp and informative can really make it to the top. Indeed, the shop owner should keep on carrying out regular updates regarding content, images, and other presentations available on the website.
Daily deals help to attract more customers towards your store and make them buy what you have on the shelves. Customers have an addiction to click on the special offers, regardless of how much they save. If there’s a discount offer, you’re likely to attract more eyeballs towards your store. For example, during the holiday season, just offer some e-gift cards or gift-wrapping of products. Impact on sales would be bigger than what you could have expected. Thus inclusion of special offers and highlighting discount scheme can really assist in boosting conversion rates.
3.Shipping and Return Policies: Keep eCommerce customers satisfied as well as encourage them to speak nice words regarding your business on the social networking sites by providing real-time updates of the orders and successful on-time product delivery. Many Magento plugins enable store owners to offer free of charge shipping up to some defined quantity of product purchase.
Offering free shipping will improve your conversion rate. Guaranteed! But, it can also kill your profit margins if you are not careful. We adamantly recommend split test to analyse if adding a free shipping threshold impacts the company’s sales. If you charge for shipping, mention that cost upfront. Show costs as early in the shopping process as possible.
Return policies are extremely important when selling online. Most online stores have a return policy that expires after 15 or 30 days, but what if your return policy lasted for longer period? Buying online is all about risk for most people. They’re thinking to themselves “If I buy from this store and things don’t work out, will I lose my money or can I trust them to honour their return policy?”. Extending your return policy for as long as you can will make more than it will cost you, because the overwhelming majority of your customers will not act on your return policy – they just want to know it’s there for peace of mind before they place their order.
You should promote your return policy everywhere you can: on your home page, on your shopping cart and checkout pages and even in your newsletters and promotions. Remember, winning your shopper’s trust can send your conversion rate through the roof.
4.Quick Checkout Process: Stores should provide quick checkout with variety of payment options, including at least one “wallet” method like PayPal. Sometimes checkout process becomes too hectic and complicated that users end up by discarding their orders. It is like a cherry on top when checkout process becomes quick and easy. Therefore, it is good to define one-page checkout or some short checkout strategy for your eCommerce stores.
5.Secure Payment Methods: To attract today’s tech-savvy shoppers, security should always be the first priority. Customers are more and more wary of data breaches, and will quickly stop buying from businesses that have had their payment systems compromised. Magento has built-in PayPal payment gateway integrated with the latest features. Defining payment method strategies in favour of regionally popular payment gateways can attract customers. Most people look for the https:// prefix in their browser bar before submitting personal information like their name, credit card number and address to a website. This can be achieved by integrating SSL certificates. SSL Certificates protect your customers’ sensitive information by encrypting the data they send to you, then decrypting it once you’ve received it.
6.Using PPC Advertising: One of the fastest ways to draw more potential customers to your website is Pay Per click advertising. Pay-per-click marketing is a way of using search engine advertising to generate clicks to your website, rather than “earning” those clicks organically. This method is highly popular as the most suitable way for attracting web traffic and enabling them to buy the products or avail services. However, it is a modern way in the web world to establish a brand name in the market and helping the companies relating to their respective customers.
7.Building Trust Among Users: Providing users with authentic information is highly essential. Give proper details of the product / services and no hidden costs will surely help users in building trust factor. Display your phone number in the header and be easy to contact, via live chat, phone, email and FAQ pages.
Delivery timelines should be clear. Shoppers prefer to see the estimated delivery date (“Expected delivery is 12/1/2017”) rather than timeframes (“3-5 days”). Offering guarantees on products and after sale services can increase conversion rates. So, try to implement it if the nature of your product supports it. It has seen that the longer guarantees can boost conversion rate.
8.Mobile Friendly Stores: The way we interact with ecommerce stores has changed massively over the last few years. The introduction of smartphones and tablets has made it easy for shoppers to browse online and make purchases from anywhere, at any time. Now that the modern shopper has had a taste of fast, smooth, and easy to use mobile-friendly stores, they’re becoming less and less likely to entertain a non-responsive website.
If you plan on running a successful eCommerce website, or any website, you absolutely must cater to mobile users. Not doing so is simply ignoring a majority of your potential customers. Statistics show that 40% of users will go to the competitor after a bad mobile experience, yet an alarming 84% have experienced difficulty completing a mobile transaction. That is an incredibly high number, and it shows just how great the opportunity is for companies to capitalize on consumer conversion just by creating mobile responsive and user-friendly websites.
9.Advanced Search Engine: Suggested search and auto-completion are common expectations in advanced search engines. Therefore, think about it and design search according to the nature of your Magento eCommerce store.
The conversion rates can be identified as the key performance indicator that boost the value of a business on the web world and allow it to establish a mark. It is true that strategies are plenty and very few of them are practically applicable or efficient for your eCommerce stores. Therefore, test implementations of any strategy before finalizing it.