The best ways to improve ecommerce conversions in 2023
E-commerce has become an important part of our professional and personal lives. The products and processes of companies in this field are increasingly digitized. To increase website traffic and attract more customers, your sales and marketing strategies must be backed by accurate and reliable information.
As an e-commerce player , your success depends on your conversion rate. Learn how to increase your online store's conversion rates
What is the conversion rate of e-commerce?
When someone talks about e-commerce conversion rates , they are talking about website order conversion rates. This can be expressed using the additional formula:
Ecommerce conversion rate is the number of sales/visits to your website
If your website has 1000 visitors and 50 of them place an order, your ecommerce conversion rate will be (50 1000) = 5%.
Depending on the data source you are using, you may see this metric by a different name. Google Analytics calls this Ecommerce Conversion Rate , and it is the most commonly used name.
How to calculate conversion rate in 3 steps
- So, the question is how to determine the quantity. Here are the steps to follow to calculate this critical rate:
The first step. Determine the number of users who visited your website. Collecting numbers is easy with both paid and free tools: LikeWeb, Alexa, and Google Analytics.
Step 2. Write down the conversions. Depending on the type of conversion your brand and company goals define, there are several ways to calculate conversions. For example, it could be the number of forms, orders, downloads, contacts submitted, etc.
Step 3. Use this formula to calculate your conversion rate:
Conversion rate = conversions / visits * 100%
For example, if you have 10,000 visits and 200 conversions, your conversion rate is 2.2%.
The best ways to improve your ecommerce conversion rates
- Get a smooth checkout process
- Offer free shipping
- Provide live chat service to customers
- Provide flexible payment methods
- Send abandoned cart emails
- Optimize your website for mobile
- Page loading speed improvement
- A/B Test your page
- Offer limited time offers and discounts
- 1. Get a seamless payment process
To improve ecommerce conversion rates , brands must make the digital buying process as easy as possible.
Provide users with all the information they need in a timely manner, including delivery and payment options, and provide users with transparency and easy navigation of every process.
It's also important to let customers know that you're here to help when they're making a purchase. For example, if a customer tries to enter an expired discount code, a pop-up window may appear showing a different coupon with the same or a higher discount.
These solutions are in the interest of those who implement them. So you can prioritize changes that can positively affect your productivity.
For example, you can offer different shipping and payment options or display customer reviews at checkout to increase trust and personalize the shopping experience.
- 2. Free shipping offered
Customers love to shop online, but nobody likes exorbitant shipping costs. So, the free shipping option is not just a feature but a requirement. In fact, nearly three-quarters (66%) of consumers want free shipping with every online purchase.
How is Free Shipping Beneficial for Ecommerce Conversions ? Because customers know what they are going to pay up front. If you choose the free shipping option on your homepage, your visitors will immediately realize that they won't be paying an extra $10-20 at checkout.
If you're concerned that the shipping costs you pay your customers are lowering your bottom line, the solution is to increase the cost of your product to cover the shipping costs. This is especially important if items are sold in bulk and shipping costs need to be kept to a minimum. Make sure your prices remain competitive, or your clients may choose to move their business elsewhere.
- 3. Provide live chat service to customers
Customers are often confused by different products and services and have many questions that need to be quickly resolved. They are looking for fast and accurate answers. Implement live chat on your e-commerce website . This will ensure customer satisfaction, enhance your brand image and build trust. Customers are more likely to make a purchase through a website that offers this option. This is one of the best ways to increase conversions on your website.
Ensuring that customer service representatives and live chat representatives are available at all times is crucial. Make sure they don't wait too long for customers, or they'll get bored, get distracted, or simply stop buying. Sometimes, customers are reluctant to make an exchange. In these cases, they must monitor the customer's behavior on the site, start a conversation, make sure they are comfortable, and gradually lead the customer to the purchase.
- 4. Provide flexible payment methods
If you offer a premium product at a high price, you are more likely to lose customers who can't afford it, or don't have the money to buy your product.
A simple, risk-free strategy for increasing ecommerce conversions is to offer a variety of payment options to make your items more accessible to customers of all budgets.
- 5. Send abandoned cart emails
According to a 2018 study, the global shopping cart abandonment rate in 2018 was 75.52%. Any active customer who does not look like a 100% guaranteed buyer. The number of abandoned trolleys is difficult to reduce; Therefore, it is important to know why they made this decision. There are many reasons why customers abandon their shopping carts, such as unexpected costs, low prices on various websites, mandatory subscriptions required to register or complicated checkout procedures with expensive shipping fees, lack of payment options, lack of return policies, and safety concerns. .
The solution to this problem is to send a customer cart recovery email. Emails sent within three hours of cart abandonment will have a 40% open rate and a 20% click-through rate. At least 10.7% of customers who receive an email return to make a purchase. You must implement a different custom strategy for sending these emails. This will definitely increase your conversion rate and sales.
- 6. Optimize your website for mobile
Customers spend most of their time on their smartphones. Mobile devices account for more than a third of all retail sales. Your online store should provide customers with a great mobile experience. Therefore, you must optimize your website for smartphones to increase conversion rates.
- 7. Improved page loading speed
How fast is your website loading? Test with Google PageSpeed Insights and the Pingdom site speed test to determine this.
If your website is slow, it will cause your visitors to skim and buy. Reducing seconds of load time will greatly increase your conversion rates.
You have to find strategies that help make your site more efficient. You may want to change your website host and modify your web hosting plan to allow for increased users. Check your plugins with a sophisticated performance monitoring tool to determine if they are running slow.
Use an image compression tool to remove unnecessary icons and large files from your website. Consider using a CDN (Content Delivery Network) for better speed.
- 8. A/B Test your page
Split testing is one of the best ways to increase ecommerce conversions . It's actually very simple: suppose you have two addresses for your webpage and you're not sure which one to use, then you should consider A/B split testing. It can help you find out which one is the most popular. Now you have to create two different versions of a page. your web. The program will direct half of your visitors to page A and the other half to page B. Either A or B can be chosen based on the score. It's very simple and can help you increase your conversions.
- 9. Offer limited time offers and discounts
Discounts are a customer favorite, as evidenced by the fact that around 93% of consumers use a coupon code at least once a year.
Discounts and offers attract customers for many reasons. They instill a sense of urgency by asking customers to act quickly before the offer expires, and they also give customers the satisfaction of knowing they're only paying a fraction of the normal selling cost of a product.