After spending on building a website, stocking inventory, renting a warehouse, and paying for advertisement, a lot of ecommerce businesses still fail to reach the average ecommerce conversion rate. This can be traceable to a lot of ecommerce DONTS including not optimizing the store to attract visitors, not setting competitive pricing, poor picture quality, and so on. If your ecommerce store isn’t converting as it ought to be, then consider this article as a guide to learning what a good conversion rate is and how you can increase ecommerce conversion rate for your store.
There are a lot of benefits attached to increasing your conversion rates. They are mainly:
1. It adds value and credibility to your brand. Adding high-quality content, increasing the page load speed of your website, paying attention to customer needs, all add value to your products and brand.
2. When you increase your conversion rate, your revenue will increase accordingly. Improving your conversion rate optimization will save you more in the long run.
3. Converting prospects into customers will compound your sales than continuous advertisement to strangers.
What Is Conversion Rate?
A website’s conversion rate illustrates ANY action taken on a website by a visitor. For ecommerce sites, the action taken could be making a purchase or signing up for a new account or downloading a guide or adding items to a cart or signing up for a newsletter or saving a product on a wishlist. Conversion rate shows how successfully a brand, through an improved shopping experience, can transform visitors/traffic into revenue. A high conversion rate shows you’re your website is successfully transforming visitors into customers or leads, while a low rate demonstrates that your business still needs to improve.
What Is A Good Ecommerce Conversion Rate
Ideally, the average ecommerce conversion rates fall between 1–2%. A 2%+ conversion rate should be every store’s goal.
Niches with good ecommerce conversion rates include: Personal Finance (2.9%), Finance (2.5%), Food and Drink (2.4%), and Food (2.1%)
Niches with low ecommerce conversion rates include: Travel (0.7%), Tourist Destinations (0.7%), Home & Garden (0.6%), and Home Furnishings (0.4%)
How To Calculate Conversion Rate For Your Ecommerce Website
Mathematically, the conversion rate for an ecommerce website is the percentage of conversions per visitor. For example; an online store that is getting 25,000 visitors and 250 conversions for a set period have a store conversion rate of 1%.
8 Effective Tactics To Increase Ecommerce Conversion Rate
The following strategies will help you increase your conversion rate and also correct a low conversion rate.
1. Monitor your conversion rate
Monitoring your conversion rate will give you insight into the following:
· How many visitors visit your website daily
· Through what means did they visit your store
· Geographical location – where the visitors hail from
· How long visitors spend on your store
· What browser did the visitors use to access your store, etc.
Google Analytics is a popular tool that you can use to monitor your conversion rate. And if your store is hosted on Shopify, you will have access to visitor/customer information via built-in analytics dashboards.
2. A virtual showroom
For niches that have a low conversion rate, like home furnishing and home garden niches, you can make the shopping experience easy for consumers. When making decisions about products in these categories, consumers tend to compare various options before making a purchase. To save the time spent on researching, you might want to consider using AR and VR technology to create 360 videos for your offerings.
3. Use high-quality images and video on your product pages
An ecommerce store isn’t like the brink n mortar store where consumers get to touch the product or try it on. In such a scenario, uploading high-quality images and videos with a persuasive product description seems to be the best option. Your product images and videos should help the consumer to better visualize the product and in turn, increase your conversion rates.
4. Make CTAs simple
Depending on what you want action you want visitors to take, make sure the CTA is simple, clear, and easy to understand. Any complicated form or process and you will end up losing a visitor.
5. Offer free shipping
Online shoppers in eBay and Amazon are becoming more accustomed to free shipping. Most of them now take it as an entitlement. As a result, any store that does not offer free shipping may end up losing a large chunk of customers. So, you MUST offer free shipping if you want a higher conversion rate. However, offering free shipping doesn’t make you lose. At all. The trick is for you to increase your product prices to make up for shipping costs. For instance, if you were to dropship a plain t-shirt for $3 and shipping will cost $2, you can offer the t-shirt for $5 and offer free shipping. Use this trick to your advantage.
6. Show off positive reviews
Customer reviews are morale boosters. A large percentage of shoppers purchase after reading reviews from previous shoppers. Ask existing customers to leave a review about your product and service and then make sure to include it on your description page. This increases trust and gives potential buyers the confidence that they need to make a purchase.-making process.
7. A/B test your content
Content is crucial in ecommerce. If your website isn’t converting, then ensure to A/B test all of your content. This is crucial as it helps you to reproduce the type of content that will engage your visitors, increase conversion rate, and sales.
8. Set competitive pricing
If your price is higher than your competition, visitors will leave your store without thinking twice. Ensure to make price research for each product and list them below or at the average competitive price.
Increase Conversion Rate By Dropshipping
With ecommerce, you are faced with several limitations including creating a website, stocking inventory, renting a warehouse, marketing & advertisement, and managing shipping. However, the dropshipping business model eliminates the need for all those. When you sign-up for FREE with a reputable dropshipping platform like SaleYee.com, all you need is a website. The SaleYee platform offers a wide range of high-quality products from profitable categories including home & garden, lighting, kids’ toys, furniture, gadgets, electronics, etc. Using the SaleYee platform, you don’t need to rent a warehouse or stock an inventory. All you need is to focus on advertising your store while SaleYee fulfills orders for you. Here are some benefits of dropshipping with SaleYee:
- 630,000+ sq.m. local warehouses
- Fast delivery up-to 48 hours
- Free shipping on various items
- 24/7 customer support
- Free membership and huge discounts
- Up to a 3-month after-sales period
- 30,000+ Profitable SKUs
Conclusion
A low conversion rate means there’s an opportunity for improvement. High conversion rate means leave room for consistency and improvement. To increase conversion rate ecommerce, you need to consider these factors. Sometimes, you just need a few tweaks to ward off your competition. Improving your ecommerce conversion rate optimization will not only improve your website’s performance but will also increase your business’ revenue in the long run.
