If you run an ecommerce business, you’d know your store needs to be built with “customers” in mind. It is a primary factor influencing your target audience’s purchase decision, turning them into paying customers. At every stage of a customer’s buying journey, there are ways to fine-tune your ecommerce website and make their experiences simpler, shorter, and more enjoyable. This process is called Conversion Rate Optimization (CRO).
Why is Ecommerce CRO Important?
A successful ecommerce store that drives plenty of leads, sales, or revenues does not just happen magically – you need to continuously optimize your conversion rate. It is an important metric, optimizing which will not only help drive more ecommerce traffic but also ensure they “convert.”
To put it simply, CRO is a systematic approach to increasing the number of website visitors who convert into sales or take positive action – subscribe to newsletters, fill out a form, etc. The foundation of this process lies in understanding how your ecommerce visitors interact with your site, their interests, and potential loopholes that are preventing them from taking the desired action.
So, why is CRO important for your ecommerce business? It allows you to lower your customer acquisition cost and drive more value from your website visitors. Through proven conversion rate optimization strategies, you can acquire more visitors, increase ROI per visitor, and grow your business.
What is a Good Conversion Rate?
A good conversion rate will vary depending on your niche, industry, audience demographics, source of traffic, goals, etc. As of May 2022, the average conversion rate across the global ecommerce market was 1.78%.
And this average does not just differ by country or year, but also by niche. For instance, the “arts & crafts” niche has the highest ecommerce conversion rate currently, standing at a 4.91%.
If you find your ecommerce conversion rate lower than the industry average, or below your top competitors, then it is time to optimize.
Ecommerce CRO Best Practices
CRO is an integral component of ecommerce marketing, with emphasis on improving the overall “user experience” on your website and across all channels. Discussed here are some proven ways to improve your ecommerce conversion rates.
In a scenario where online users have an attention span of fewer than 5 seconds; your ecommerce funnel should guide a potential customer throughout his or her purchase journey. Right from your first interaction to making a purchase, the experience should be top-notch. Here are some quick tactics for your marketing funnel’s conversion rate optimization:
- Boost awareness through Facebook Ads
- Use SEO to generate increased organic traffic
- Capture email addresses or make them subscribe to your newsletters to nurture your leads and boost conversion
- Include high-intent keywords
- Establish your credibility and quality with social proof
2. Use High-Quality Videos and Images on Product Pages
Get into the shoes of your customers and think about what they will love to see on your ecommerce store when shopping. And the best way to showcase your products is through a detailed image or video. It enables shoppers to visualize the products better, compelling them to make a purchase and boosting your conversion rate.
3. Test and Optimize Your Checkout Process
One of the primary reasons why ecommerce businesses lose customers is because they have a complicated and long checkout process. This may turn off even the most interested customers who are ready to buy and they will abandon your site.
A valuable tip for conversion rate optimization is to A/B test your checkout process and implement personalization strategies.
4. Display Product Reviews Clearly
Honest user reviews not only help establish credibility but are also crucial to building users’ confidence. A majority of online shoppers rely on reviews to learn more about a product and make an informed buying decision. So, make sure product reviews and ratings are displayed clearly to boost conversions.
5. Optimize Your Ecommerce Store for Mobile Users
With smartphone usage growing at a rapid pace, it has become pertinent for ecommerce businesses to make their stores mobile friendly. When you make it simpler for your customers to shop from your website on their smartphones, they will automatically make their way through the ecommerce funnel.
For effective conversion rate optimization, it is important to build a future-proof ecommerce website, improve your UX, drive more leads, and nurture them to convert into sales.
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