Conversion Rate Optimization is the method of increasing the ratio of website visitors, converting them into potential customers or leads. A conversion is characterised as the positive outcome of a predetermined objective. Conversion rate is calculated as the total number of sales divided by the total number of website visitors. Conversion rate optimization is considered as a continuous process that requires constant analysis, measuring, enhancing, and testing.
Steps for Conversion Rate Optimization are below:
Addressing the scope of improvisations – Specific parts of your conversion funnel that need to be revamped.
Formulating a hypothesis – Based on your performance indicators and analysis, you formulate a testable hypothesis.
Prioritizing the testing strategies – Making priority as to what to target for optimization.
Determining the best methods of research and conducting experiments – Testing your well-defined hypothesis against the current version of your website.
Scrutinizing the outcomes – Enforce the successful hypothesis and collect data for future analyses and research.
It not only enables you to boost your customer experience, but also allows you to stay ahead of your direct competitors in all regards. Conversion rate optimization is the best way to accumulating solid and actionable insights.
The goal to growing your online business is to let your customers explore, assess, share, and learn from their own encounters. The transformation from “buying” to “experiencing” is all about a consistent eCommerce customer experience. An eCommerce A/B study has developed from a simplified comparative analysis to a data-driven methodology. Website owners and businesses shall make use of this technique throughout their customer experience.
Few Techniques for eCommerce Conversion Rate Optimization
Customized options using the browser history of users
An ideal eCommerce conversion optimization technique is to include product recommendations as one of your strategy. Tracking user information such as location, web traffic, likes and dislikes, purchasing history to showcase products that are searched by your customers. It is a given that almost 45% of online shoppers are likely to purchase from an eCommerce store which is providing customized suggestions. Therefore, it is an effective way to enhance your conversion rate to use your online store’s user browser history to target your potential leads and offer them a customized shopping experience.
Keep a Persistent Shopping Cart
Upon accessing the eCommerce site, a long-term cookie was created. So, for a specific timeframe, the cart can be viewed during multiple sessions. The items have been added, probably a few days ago to the shopping cart by you, and the cart is still unchanged. A majority of the online business merchants have been using persistent shopping carts because it significantly impacts the decision of consumers to buy. As almost 56% of visitors focus on saving their carts for later purpose. It may also take days or weeks to complete their order, and when they return, you need to make sure that their carts remain unchanged.
Put as Free Shipping for the Products
Research has revealed that if the users are charged for shipping during the checkout, 47% of customers ditch their carts. As a part of the checkout process, make sure your clients are not faced with any nasty surprises. There are lots of advantages to eCommerce companies that offer free shipping over the ones who don’t offer it. A primary cause of cart withdrawal is high shipping charges. Therefore, offering to ship the items free of charge is essentially what a buyer hopes for.
Showcase offers to save money all in one page
Create a one-stop menu or a dropdown, if there are multiple ways to claim discounts or free stuff on your website through coupon codes, store credit and more. Customers would be grateful whenever they get discounts and freebies and will stay loyal and spread the word around which in turn would bring you in more new visitors.
Enable Support via Live Chat
A robust live chat support program offers a smooth user interface by quickly and easily resolving doubts and concerns. Because the last thing a user wants to do is calling customer service over and over again while making an online purchase. Enabling live chat support will keep your customers engaged and getting their queries clarified in no-time.
360 degree product view
Conversions are strengthened by larger product images. Giving your buyers a closer look of products at 360 degree view is for your own advantage. This builds trust and confidence in your products which can’t be provided just with product descriptions.
Announcement of your product(s) getting scarce will get your customers on the edge
Clock is ticking. There are only X additional pieces in stock. You have to lure visitors by emphasizing your products’ exclusivity. The thought of a product’s offer is running out will push your customer on the edge and will get them back in the game to participate and make the purchase.
Build Trust using Product Reviews and Feedbacks
Building brand trust is very crucial. To greatly impact your potential customers, you ought to exploit their social testimony. Product reviews and feedbacks play a vital role in expanding your customer base. The simple act of guiding a customer in buying the product of their choice speaks volumes. Only happy customers give positive reviews and recommendations.
However, having listed few techniques with precise information and insights into what works with eCommerce A/B study and testing, do not follow them thoughtlessly. In order to clearly understand what works and suits your eCommerce business, you have to develop a robust hypothesis and validate them on your own.
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