Getting people to visit your site is just one part of the eCommerce game. The actual challenge lies in converting the traffic of your site into paying customers.
Potential customers may start adding items to the shopping cart only for them to decide midway that they would rather go a buy very similar products from another platform. What do you think would keep them from bouncing off and seeking other alternatives that are just a click away?
It is at this point that conversion rate optimization (CRO) comes in handy. In simple terms, CRO is a process you go through when you want to boost your eCommerce growth using certain methods. If you’re having a hard time converting visitors into paying customers, you might need to implement CRO strategies in your platform management.
What is a Conversion Rate in eCommerce?
There are two types of site visitors. The first one is those who click on your platform without taking any significant action. They probably do some scrolling, check some products, and then leave.
The second one is those who actually take desired actions, which commonly involve purchasing products. However, it can also be as simple as signing up to create accounts, adding items to their wishlists, subscribing to loyalty programs, and many more, depending on your business sector and what you wish your customers to do.
This second type counts toward what is called the “conversions.” When you divide the number of conversions by the number of total visitors and multiply it by 100, you’ll get your conversion rate or CR.
Let’s assume you have an apparel business. Out of 1,000 individuals who visited your site, you have successfully sold your goods to 10 customers. Hence, the conversion rate of your platform would be 1% (10/1,000*100).
However, doesn’t this number feel a little too low? In fact, the average eCommerce conversion rates are somewhere between 2% to 5%.
Even if you manage to improve your CR to around those numbers, it still might not be good enough for the niche you’re competing in. This means that you still have a long way to go in working on your conversion rate optimization.
The Importance of Conversion Rate Optimization
Sometimes, focusing on your CRO to improve conversions can feel like you’re using tricks to lure potential customers. However, do keep in mind that the eCommerce world is highly competitive and constantly evolving. Having high-quality products alone doesn’t guarantee that you can survive in the industry.
Furthermore, CRO is not just about increasing revenue. It involves analyzing customer behavior through tools and user feedback. Through CRO, you’ll be able to understand what customers want and need as well as how you can better your products.
This will also result in an improved experience and satisfaction on the users’ end. In fact, when implementing CRO, increased revenue is just a bonus. What’s more important is for your company to build a solid foundation for sustainable growth.
Strategies to Boost eCommerce Growth Using CRO in 2024
CRO strategies have constantly changed throughout the years. What worked two or three years ago may not work as we speak, so it’s important to keep them updated. In 2024 itself, there are so many methods shared around that you may find it confusing. To get started, here are seven up-to-date strategies to boost your eCommerce growth.
1. Improve User Experience
First things first, picture yourself as a typical customer. Would you rather be on a platform where you get to your desired products in two to three clicks or a platform where you have to search through a few pages and do a lot of scrolls to find something in particular?
Naturally, the former is much more likely to be chosen than the latter. This shows how simplicity plays an important role in CRO. In most cases, the simpler, the better.
To get a better understanding of this, you can take a look at AngelTrack’s website. As you open its homepage, the tabs will be the first thing you see. They consist of everything you need, from the company’s business profile to the pricing, so there’s no need to search every part of the website and waste time to find information.
Also, don’t forget that customers also shop using mobile devices. It’s critical to ensure your website is fully optimized for mobile. Small details such as automatic adjustment to different screen sizes and resolutions should not be overlooked.
You can also create different designs for different types of devices. Alternatively, you may want to try incorporating interface tools such as Flook, which will allow you to keep that simplicity and attractive platform at the same time.
Moreover, it’s crucial to choose a fitting call to action (CTA) text. Pay attention to AngelTrack’s homepage again. You can see that it has a red button, and the text “SEE IT IN ACTION” is written on it.
This is known as a call to action. The wording is bold and direct. A strong CTA like this can significantly increase engagement because it tells users exactly what to do next.
Another thing that should be noted is the loading time. Slow-loading pages not only frustrate visitors but also increase bounce rates, meaning potential customers leave your site before even browsing your products.
You can tackle this with simple tactics such as compressing images, even though this part is kind of tricky since users would likely prefer high-quality graphics and pictures.
2. Simplify the Checkout Process
Sometimes, customers may put your products in the cart or on their wishlist but never actually finish the payment. This is where you should review your site’s checkout process. There might be things that hinder visitors from finalizing the payment, such as limited payment methods or a process that is too complicated.
A lengthy checkout process can annoy users, so your goal should be to simplify the procedure. You can use the one-page checkout where customers will fill in the details, choose their shipping options, and confirm the purchase on a single page.
If it requires more than a page, make good use of progress bars to keep the user aware of every stage they are in during the payment process.
Especially if you target an international audience, diversifying payment methods is very crucial. Just because your country supports a payment method, doesn’t mean all countries accept it as well.
Furthermore, make sure the methods you provide are secure. Digital wallets are usually the go-to as they are not only widely available worldwide, but also fast and secure.
3. Build Trust
Unlike offline shopping which allows customers to see and touch the products physically, eCommerce relies solely on description and images. Therefore, how do you convince visitors to buy your products if that’s the case?
Of course, some simple description would not be enough to establish trust with your audience. You need to show, not just tell, why your brand is reliable.
One of the ways to do that is by providing proof such as customer reviews. Some companies may be tempted to use fabricated, misleading reviews to prove their credibility, but this is strongly unadvised.
By doing this, you can harm your brand’s reputation in the long run. Remember that authenticity is key to building a loyal customer base and speed up your eCommerce growth.
In addition to reviews, you need to provide clear policies. If you offer goods, for example, you need to give a detailed explanation on how to return the products should there be any defects. Similarly, if you offer services, be transparent about how customers should report if your services don’t meet their expectations.
This also means you have to provide proper customer support. Responsive and helpful customer service shows that you care about your customers’ experiences beyond just making a sale. In the end, satisfied customers might leave organic positive reviews, which you can showcase on your pages.
4. Invest in Tools
When talking about conversion rate optimization tools, there are countless website-related options that all seem promising. For example, there is Frill that can help you gather customer feedback with ease. Not only that but Frill can also simplify the planning process for your next update based on the feedback you have collected.
It is also a good idea to consider utilizing similar customer relationship management (CRM) tools to streamline interactions with your customers. They can help you analyze customer behavior, manage communications, and facilitate customer support.
One example of a CRM component that you might often see is the customer service chatbot. Not all companies have the resources to provide 24/7 human customer service, so this feature is great for ensuring customers can still get help outside of regular business hours.
The challenge, however, is figuring out which ones will truly benefit your site. It all comes back again to the business sector you’re operating in, what you sell, and your goals. Therefore, it’s best to make sure that you take time to evaluate what will offer you the most value for your eCommerce growth.
5. Review Search Engine Optimization (SEO)
Conversion rate optimization and SEO can go hand in hand. Both aim to improve the performance of your website but just in different ways. Without SEO, your site may struggle to attract organic visitors. Therefore, if your CRO performance is low, you might want to check your site’s SEO performance as well because there might be an issue with it.
Things such as SEO-optimized blog posts and content shouldn’t be underestimated as they may prompt visitors to converse. You’ll want to especially pay attention to your content’s meta descriptions, title tags, and call-to-action text which play a crucial role in both SEO and CRO.
Take a look at the following example. One of your pages manages to rank high for the keyword “best winter jackets for women.” However, when visitors click on it, they find that the page talks about winter jackets for men.
Naturally, they would immediately leave without doing any conversion, so this means that there might be something wrong with how you optimize your page’s search engine visibility, which has a consequence on the conversion rate.
6. Create Personalized Recommendations
A lot of online shopping websites would offer products that are similar to those you have viewed. This tactic usually involves an AI system that studies the user profile to recommend products according to each user’s activities. There’s a good chance you have come across this kind of tactic yourself, so you might as well implement it for your own platform.
Sometimes, users may leave items in their cart without checking out. In this case, you have a few options to lure them back to finish the payment. First, you can utilize automated notification to remind them about the products or show them ads featuring those exact products. The second option is sweetening the deal with a limited-time discount.
Of course, the second option would be more tempting to potential customers, and it has a higher chance of bringing them back. However, you should offer discounts wisely. You don’t want your potential customers to get too used to constant discounts. Limited-time offers need to have that exclusive feeling with some sense of urgency.
7. Do A/B Testing
If you have ever seen a platform or website constantly changing its layouts, that’s probably because it’s in the middle of A/B testing for its conversion rate optimization. The term basically means experimenting with different setups, typically involving UX and UI designs, and testing which ones generate more traffic and conversions.
To get a better understanding of this, try creating two versions of a landing page with slight differences. For example, one has a CTA button placed at the bottom and the other at the top.
Another example is to make one has more muted colors, and the other has brighter colors. Then you can see which version leads to higher engagement or sales. Note that you shouldn’t overdo it as users may need time to get used to your platform’s layouts.
Conclusion
The key to increasing your platform’s conversion rate is putting yourself in the customers’ shoes. Think about their needs and frustrations.
Are the navigation menus clear? Are the product pages informative and easy to read? Is the checkout process fast and hassle-free? By addressing these problems, you can design a smoother, faster, and more enjoyable experience that naturally leads them toward conversion.
Author Bio:
Uwe is a serial entrepreneur and founder of InvoiceBerry, an online invoicing software for small business owners. When he’s not busy launching new web projects, you can find him skiing with his kids in the Austrian Alps or travelling the world.
