How Can We Improve Our Conversion Rate?
What conversion rate should you be aiming for?
One that’s better than yours is today. It can vary so vastly across verticals, can be dependent on time of year, on your location – on so many factors, many of which are out of your control. Right now, your goal should be for your conversion rate to be improved.
Typically eCommerce departments spend much more of their budget and energies on driving people to their site, than they do on getting them to convert once there. A poorly optimized site will drive away visitors, and waste a large chunk of that money invested in lead generation because the customers disengage in seconds.
Here are 5 of the most important areas to consider when it comes to giving your conversions a boost:
1. Target the impulse buyer
Bricks and mortar supermarkets have been nailing this for decades: Sweets by checkouts, batteries or other often-forgotten essentials in seemingly random places, offers at the end of aisles – all geared to get customers buying what they didn’t come in for. IKEA are great at this too, with their irresistibly good pricing and their strategically planned store layouts. In fact, not so long ago their carrier bags admitted it with the line: “I only came in for plates” splashed across them.
But how can you replicate this sales push tactic online? The nature of product pages don’t usually create a sense of urgency, instead they tend to give the impression that the product would still be available at the same price, even if the customer went away came back a week later.
So, how can you add a sense of urgency?
- Limited time offers
- Low prices and offers
- How many in stock indicator
- Time sensitive shipping deals
2. Improve your site speed
This article from KISSmetrics states that 47% of consumers expect a page to load in under 2 seconds, and 40% of visitors will leave a website if it takes more than 3 seconds to load. It’s estimated that a 1 second delay in loading time sees a 7% immediate drop in conversion rate. Product pages need to be snappy and responsive. Laggy pages simply kill confidence and foster impatience, which are both massive killers when it comes to conversion rates. So often designers will be tempted to let speed slide to make way for better aesthetics or new functionality. Yet customers tend to care more about speed than they do about bells and whistles. But actually, merchants don’t have to make that choice with Magento 2.
Here at JH we’ve worked with many retailers who’ve increased their conversion rates significantly, especially with Magento 2, through performance improvements such as speed.
3. Think User Experience. And not just on the homepage
It’s up to you to create a user experience that gives the visitor what they need to become a customer. You should:
- Focus on content, be informative and detailed in descriptions
- Let customers know at all times where they are on your site
- Keep checkout steps to a minimum – and use a postcode lookup tool like Adressy
- Have competitive shipping options, include same day / next day if possible
- Describe shipping and delivery options, making sure there aren’t any hidden costs
- Don’t ever scrimp on imagery. Quality product photos really matter
- Make sure navigation is clear, e.g. being able to click basked easily from wherever they are
- Include ample payment options, such as Paypal, Apple Pay, Amazon Pay, credit card and payment on credit
- Have clear and clever calls to action
Online a “one size fits all” approach removes any sort of personality from the shopping experience, and upsets customers. In a study by Janrain, it was found that 73% of consumers were fed up with being presented with irrelevant content.
Providing tailored product recommendations and experiences based on how the user navigates around your site can help make your customer feel that you ‘get’ them, and therefore drive sales. There are a number of tools that can help with personalisation with Magento, such as Nosto that provides personalised recommendations based on the products a user views and engages with.
A study by Experian showed that personalised email promotions have a 29% higher open rate and 41% higher click-through rate than emails that are generic to all customers. Personalising emails is about far more than just using the subscribers’ names in the subject line. To really delight customers, you need to tap into their on-site activities using your analytics. The data provided by your email marketing software isn’t enough. We’d recommend using Dotmailer for sending personalised emails to customers, based on what they’ve searched for and bought. What’s more, Nosto can tie in here too, by personalising recommendations in email from the customer’s browsing history on your site.
5. Use video
If you want to keep up, and ahead of competitors, you need to stand out. And if your competitors are not using videos yet, then you can have an upper hand by offering shoppers something extra.
Great product images make a proven huge difference to conversion rates. But videos convert even more, for instance Zappos claim product pages with videos boosted their sales, and they saw conversions soar by up to a 30% increase in sales. Today’s customer wants to see a product from every angle and when a product is shown in use in a video, it gives customers a better idea if the product is suitable for their needs. This alleviates anxiety concerns for many visitors and increases conversions.
In summary, consider using videos because:
- We all know a picture speaks a thousand words, by that reckoning a video is pretty indispensable
- Video captivates and so makes your potential customers stay with you longer
- Videos are more clickable and shareable, so helps to spread the word of your products
- Google loves sites with video, and will rank higher the sites who feature them
If you want to find out more about how you can drive conversion on your site, just get in touch.