Best tactics to skyrocket conversion rate for your eCommerce store
In e-Commerce, Conversion Rate Optimization (CRO), which every store owners have to take into account, is an ideal way of driving revenue and the number of visitors.
However, according to a research by Econsultancy, for every $92 a business spends on appealing a customer, they only spend an actual of $1 converting them.
Kate Morris, founder, and CEO of Australia’s first beauty site Adore Beauty, thinks that site conversion validates not only every factor of your website but also your value propositions.
They are how you interact with customers on the website; where you display various promotions that you have or what you probably check about value, such as shipping, promotions, payment methods. Besides, store owners should also consider user experience a priority: design, personalization, speed and website performance.
A Complete Process To Improve Your Site Conversion
We have outlined some productive tactics that your online store simply implement to gain a higher conversion rate:
Step 1: Gather data
Data is a key source for your analyses on how visitors are actually using your online store. There are a variety of approaches including Google Analytics, face-to-face interview, customer surveys (on-site, post-purchase), heat mapping, session recordings, supervised user testing. Therefore, you would have a complete perspective about what factors influence conversion and how they do.
Step 2: Point out the biggest gaining points
Merchants should not focus too much on the pain points at checkout which only accounts for 5-10% of customer experience. Instead, Store owners can maximize the audience by pointing out where the biggest priorities for uplift, which are: website features and customer value propositions.
Step 3: Seek optimal solutions from similar sites
You need to look into other online stores your customer segments are extremely passionate about, then get the expectations of your customers when shopping online on mobile or desktop. After that, try to come up with new ideas for the criteria for A/B testing.
Step 4: Test, test, and test AGAIN!
To evaluate influential factors, the first thing to do is properly choosing a visual website optimizer or equivalent tools. The aims of testing are to determine which factors are appealing to your customers overall or to a particular customer group, for example, new and returning customers. And, how can the clients change their mind about whether or not to buy these factors?
What should be tested on your eCommerce site?
To improve your conversion rate rapidly and successfully, it is imperative to select proper testing options, and here are the most common ones for your site:
Full Range of Payment Methods
Store owners need to provide all available payment approaches because they significantly affect the purchase process. Although you supply any products the customers want, it is a big problem if they can’t pay for them. They will rarely open a new bank account or get a credit card to shop from a single store.
Magento offers a variety of payment methods: from credit cards to Paypal, Braintree or others your customers might instantly pay as they please. So, let’s add all of them to your page and see a lift in conversion.
Clear Shipping Costs and Other Bonuses
Besides the prices of your products, it’s surprised that many people don’t like shopping online due to high shipping fees. A survey conducted by Econsultancy reveals that 74% of people abandon the cart because of high delivery charges.
Magento has shipping calculations built into the platform which offers flat rates, table rates, online rates and free shipping. You can make the use of free shipping as an effective promotion to place yourself above competitors. Moreover, every customer loves free gifts or small bonuses, which is a motivation for shopping more frequently.
The rapid Speed of The Page
If your page takes a long time to load and process, customers tend to leave your page. Kissmetrics measured that 47% of consumers want a web page to load within only 2 seconds.
As a result, your site should be run at the fastest capability to offer the best user experience. Optimizing page speed can include updating Magento; using Varnish or FPC (Full Page Cache); using a CDN to load static content and optimizing images or videos. You might then notice a considerable improvement in conversion rate.
Magento stores usually have only the basic functions for customers. There are plenty of ways you can make user experience and your conversion rate better. Fortunately, there are many Magento 2 extensions to help you do just that, check out our solutions to improve conversion rate.