An eCommerce website conversion rate represents the effectiveness of your company’s process in guiding visitors into the sales funnel. A high conversion rate demonstrates that your website is successfully generating lucrative leads, while a low percentage indicates that immediate strategies should be implemented.
In this article, we’ll go further into the definition of a good conversion rate and how a site can be optimized to maximize prospective visitors.
What is a good eCommerce conversion rate?
Conversion rate is to measure not only the number of people who’ve bought a product from your e-commerce site but also any desired actions taken by a visitor on a website. Examples include signing up for a new account, adding items to a cart, saving products to a wishlist, or completing a purchase.
Hence, there are many types of conversion rates to evaluate your e-commerce business that are important to be tracked and optimized. This article will walk you through some major e-commerce conversion rate benchmarks:
Add-to-cart
An add-to-cart conversion rate shows the number of people adding items to their carts divided by the number of those who visit your site overall. A high conversion rate means many of your website visitors intend to purchase.
Abandoned cart
Your abandoned cart rate shows the number of people who have added items to their carts and left them without completing a purchase. A poor website conversion rate here means people are having last-minute concerns and exiting the checkout process.
Purchase conversion rate
A low conversion rate shows the alarmingly poor performance of your business. But tackling this problem is possible. Look no further to the following 5 tactics:
Free trial to paying customers
When selling a software product, another conversion rate you’ll need to keep track of is the number of people who use your free trial and become a paying customer.
You can turn hundreds of your users on a free trial into paying customers with such tactics as upselling.
A low conversion rate shows the alarmingly poor performance of your business. But tackling this problem is possible. Look no further to the following 5 tactics
5 ways to boost your eCommerce conversion rate
1. A/B test your CTA messaging and placement
CTA stands for “call to action”, and it’s the part of a web page or advertisement that encourages the audience to do something. In marketing, CTAs help a business convert a visitor into a lead for the sales team.
Despite being a great assistant for your E-commerce business, a perfect CTA requires many efforts to make it do its jobs. Hence, how to know whether your CTAs are working well?
The answer is A/B testing which can guide you to the most optimum method of delivering CTAs. The mechanism of A/B testing is to compare two CTAs with different variables—such as the color, placement, or text copy, and then you can see which gets a better overall conversion rate. For example, which button text gets 10x conversion? “Buy now”? “Get mine”? Or “Free trial”?
To make it easier, Atom8 can put this process into automation by scheduling the CTA’s messages and placement.
An example of Atom8’s automated workflow in scheduling the CTA button
When: 7/7 comes.
Then: Switch theme to the CTA of 7/7 Flash sales.
Wait for 2 days.
Then: Switch to the original theme with the normal daily CTA.
2. Add risk reversals to intent-heavy pages
One challenge in tackling potential customers lies in the fact that the buying process should be as smooth and clear as possible. Such barriers in the purchasing process as concerns about the return policies or the customer care service can stop people in their tracks and put them off purchasing.
You had better give them peace of mind knowing that if they made the wrong decision, they could go back. This can be executed with various on-site risk reversal features such as:
- Refund guarantees.
- Free return policies.
- 24/7 access to your team to ask questions post-purchase.
Research reveals that more than 60% of consumers spend time reviewing a return policy before reaching a decision to buy. Adding transparent information to your website is a risk reversal tactic that fastens the converting process.
3. Use visitor recordings to see where people drop off
We already your overall purpose is to reduce barriers in your buyer’s journey. The fewer stumbling blocks in their path to purchase, the more likely they are to convert at each stage of the sales funnel.
To resolve the problem, you should figure out where those stumbling blocks are. There are some visitors recording softwares to create videos of how real-life shoppers engage with your website.
For example:
- Do they first click on the sales page when visiting your website then leave?
- Do they watch a video and leave?
- Which page do they visit before heading for the door?
To be honest, scanning these site visitor recordings can take some time—especially if you have a traffic-heavy website. However, keeping track of where people drop off helps you prioritize which pages (and specific elements) need more work.
4. Send retargeted messages
To most e-commerce store owners, the most frustrating index is their abandoned cart rate. They’ve gone through a long way to get people adding items to their online cart only for those shoppers to leave without giving their payment information. One of the simplest methods to improve conversion rate is to put an effort towards abandoned cart recapture.
A great way to trigger those who’ve abandoned their online cart is to retarget email marketing. With Atom8, a unique function can automatically segment customers who have incomplete orders, and then email marketing will be directly sent to them to inform about their shopping carts by integrating with Sengrid/Klaviyo/Mailchimp.
One example of Atom8’s automated workflow:
When: Order completed.
If: Order status is still awaiting (abandoned carts).
Then: Assign customer to a group.
Wait for 1 day.
Then: Send emails to the customer via MailChimp.
5. Show trust signals and payment options
Every e-commerce site needs trust signals. Once you’ve earned a consumers’ trust, they believe in the products or services you’re selling. That leads to an initial sale, boosts your conversion rates, and the chance of additional purchases as well as customers referring your business to their family and friends.
Start by adding several trust signals on your website. This can be in the form of:
- Testimonials.
- 5* ratings.
- Influencer or celebrity endorsements.
- Any awards you or your product has won.
However, even when the customer decides to make a purchase, your job hasn’t finished. Another common stumbling block is the customer wanting to know they can pay using their preferred method—one they already trust.
This can be as simple as the Apple Pay, Mastercard, and PayPal logos on your payment information pages.
Plus, accepting those digital payment methods can be a competitive advantage: research shows that just 29% of online merchants accepted mobile wallets. You could lower your cart abandonment rate by providing that alternative payment method on your e-commerce platform.
Key takeaways
#1: eCommerce conversion rate is to measure any desired actions taken by a visitor on a website. There are 4 must-considering types of conversion rates: add-to-cart, abandoned cart, purchase, and a free trial to paid conversion rate.
#2: To optimize the process of converting customers, use the five tactics we’re mentioned to start boosting conversions on your e-commerce platform. Bear in mind that you should acquire detailed insights on customers’ behaviors through their purchasing journey and deliver to them the equivalent messages.
Optimize the process of mastering the conversion rates with Atom8.>> Get free trial today <<
