To make a plan for maximizing your B2B eCommerce conversion rates, the sellers should figure out all formulas of conversion rates and find ways to increase all of them. Therefore, our article today will introduce 5 awesome formulas for the B2B merchants to maximize B2B eCommerce conversion rates.
5 Awesome Formulas To Maximize B2B Ecommerce Conversion Rates
Consider All The Traffic Sources
The business runners need to identify where the conversion comes from or where your visitors can find your eCommerce websites. Then they can come up with strategies to boost B2B eCommerce conversion rates. Normally, there are three main sources of traffic, including direct visitors, search visitors and referral visitors. The direct visitors are people who type your website url on the searching bar and access your website successfully. Besides, the visitors who search something related to your stores and access your websites via searching results are called search visitors. Also, the visitors who click the links from other websites, social media channels, or other platforms. The B2B merchants should diversify the traffic sources rather than rely on only single sources. Moreover, it is necessary to identify the main traffic sources to prioritize and make suitable plans.
Value Per Visit
To evaluate whether each conversion brings your store expected value, you need to calculate the average value per visit. Thus, you can calculate the value per visit by letting the total value from total conversion divide the total visit recorded. For example, if the store has the conversion rate at 4 percent, the average order value is $1000 and the total visits are 100, then the value per visit is $40.
New Visitor Conversion Rate
To enhance shopping experience for new visitors and attract more new customers, the business runners should pay special attention to new visitor conversion. The improvements to increase new visitor conversion should be closely related to website usability, content clarity and information value. Therefore, the business runners should invest in website performance, web content and design.
Return Visitor Conversion Rate
To maintain long-term customer relationships, don’t forget to take return visitor conversion rate into consideration. There are two points that you need to make clear with your return visitor conversion rate; why did the customer come back, and did they convert the first time around. Like the new visitor conversion, you need to investigate and analyze the return conversion rate separately; to make a plan for maintaining customer relationships.
Bounce Rate
The business runners always try to reduce visitor bounce rate; so they need to estimate this rate appropriately to come up with effective approaches. Bounce rate describes the percent at which the customers access your website and go out immediately. There are many reasons but three most popular ones are low-response websites, poor design, and poor usability. To minimize those reasons, the B2B merchants can try the B2B platform from GriGlobal to enhance B2B customer experience; with various B2B features without sacrificing website performance.
Conclusion
The eCommerce business runners should pay more attention to each formula of B2B eCommerce to plan for strategies to increase conversion rate and minimize bounce rate. We hope that you can comprehend the conversion formula characteristics after reading this article.
