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How To Improve Conversion Rates of Your ecommerce Store

Discussion in 'Guides, Case Studies and Tutorials' started by Karan Shrestha, Sep 23, 2016.

  1. Karan Shrestha

    Karan Shrestha Affiliate affiliate

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    E-commerce businesses are great because you don’t have to deal with the high costs of having a physical location. However, it’s not always sunshine and honey, owning an online store. If you’re an e-commerce store owner, then you probably struggle with a few of the following issues:

    • Low traffic, conversions, and sales

    • High cart abandonment rate

    • Lack of loyal customers

    Among other things, these are the key struggles that most online shops are facing. It can make or break the store depending on whether or not they’re able to overcome these issues, which may seem like big problems to fix, when in reality they’re not as difficult as one might think. If you implement few small changes, that can dramatically increase conversion and develop customer loyalty.


    How to improve?

    Real-time audience targeting

    Using behavioral data to target customers is one of the primary ways e-commerce stores can maximize revenue. Serve each user personalized recommendations based on their previous habits. Too often companies focus on spending more money on ads to drive more leads when they should first start with optimizing and analyzing the traffic they already have. “Personalizing” each customer’s experience on your site can make a dramatic difference in the long-term profitability of the business.

    A study done about Toyota via Data Floq found that by using software to predict the purchase intent of shoppers they were able to send relevant ads; As a result the saw a spike in user engagement with the ads. It’s daunting that according to The State of Always-On Marketing Study by Razorfish and Adobe, 76 percent of marketers fail to use behavioral data in targeting execution. Marketing is about appealing to the wants and needs of consumers, so why not use one of the most important metrics (behavior) to influence their campaign? Leveraging behavioral data will put you leaps and bounds ahead of most marketers.

    Remarketing

    Remarketing is another form of behavior targeting because ads are being displayed to people that have already visited your website. It’s been proven that visitors that return to e-commerce sites are more engaged than new visitors/. According to Kissmetrics, New visitors spend an average of 2 minutes 31 seconds browsing a website as opposed to 5 minutes 31 seconds for returning visitors. This is a difference of over 100%! ` Another interesting statistic is that new visitors look at on average at 3.88 pages per visit, but returning visitors look at 5.55 pages per visit. What does that tell us? It shows that the people that return to your website are more engaged, and it’s safe to assume that they’ll be more likely to buy. The first thing you need to do is put systems in place to specifically target past customers to increase engagement and sales.


    Exit layover

    The goal of any e-commerce site owner is to keep people shopping! Then why do so many businesses let people leave so easily? One thing you can do right now to increase conversions is installed an exit layover that appears when someone is about to leave your site. It’s an opportunity to deliver another call to action to your visitor before they leave. Neil Patel co-founder of Crazy Egg, Hello Bar, and KISS metrics tested pop-ups with exit-intent technology, and he was able to increase conversions by 46%. Implementing that simple change can deliver massive results for your business.


    Cart Recovery

    Implement a system that emails potential customers that intended to buy your product but didn’t complete the checkout process. It serves as a gentle reminder to for them to return finish their purchase. According to Visual Website Optimizer, 54% of ecommerce shoppers will buy products left in shopping carts, if those products are offered at a lower price. Here’s an idea, you can setup an email that triggers when people abandon your cart that offers them a deal to encourage them to go back and finish shopping.


    Great Product Copy

    Product descriptions matter. You need to provide customers with succinct, clear, and compelling information about the product. If you approach copywriting scientifically you can figure out what points trigger consumer behavior. According to Writtent, the Journal of Educational Psychology found that retention rates soared, and were 20% to 40% higher when college students received text that were less technical and more conversational. Another tweak businesses can make to their copy is by conveying the ease of use. Copyblogger cited a study from Carnegie Mellon University that sign-up rates for a DVD service increased 20% when the word “small” was placed before the fee amount in the call-toaction copy If you make the customers requirements seem effortless they’ll be more apt to take action. Social proof is currency of credibility on the internet, so asking for customer reviews and feedback is important to persuade other visitors that your product or services are worth using. Almost 63% of consumers indicate they are more likely to make purchases from a site if it has product ratings and reviews.


    Newsletters

    The best way to increase conversion and sales is to invite your current customers to return to your website and shop some more. You want to stay at the top of their mind. The best way to do that is via personalized newsletters based on their interests and actions on your site. According to Hubspot over 50% of surveyed consumers say they read most of their emails. Therefore, it’s still a very effective medium. Wayfair, a furniture website does that extremely well. They email customers weekly about furniture they shopped for but never purchased. Since they’re delivering relevant messages to customers many of them return to make a purchase. They’ve mastered the process of encouraging repeat shopping via email newsletters. Tons of businesses use our email marketing software to build rapport with their community.
     
  2. cpalife

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