What if you have the best tools to help your business achieve these goals? The Ultimate Guide to Increase website Conversion Rates from Splitit gives you just that: the most important things you can do right now to change your business’s conversion rate.
- More shoppers completed their purchases?
- Have more readers taken action after clicking on your ad?
- Did more buyers take part in your surveys?
We’ll discuss the elements of your website that play a vital role in increasing your average ecommerce Pricing conversion, including landing page design, calls to action, shopping cart features, shopping experience, and other essential elements. We’ll also cover the psychology of online shopping and why understanding your specific customers is so important.
As you navigate through the Guide, feel free to jump to the sections that are most important to your business. We’ve provided a helpful, bulleted list of 12 things you can do right now to increase website conversion rate towards the end – don’t miss out!
- What Are Conversion Rates and Why Do They Matter?
- Landing Pages – Best Practices
- Basic elements of e-commerce
- The Psychology of Internet Shopping
- 12 Things You Can Do Right Now To Improve Your Conversion Rate
1. What are conversion rates and why do they matter?
Here’s a simple definition of conversion rate: it’s the percentage of customers who take whatever action you want them to take. When your company sells a product, encourages a viewer to click on an ad, attracts a new customer, or convinces a customer to complete a survey successfully, you’ve increase website Conversion Rate. The higher your average conversion rate, the more successful your business will be; that is, more of your buyers are taking important action, resulting in a higher ROI on your digital marketing efforts.
However, many companies do not take into account how much money is left on the table due to the low average conversion rate. Low average conversion rates cost companies money in lost profits and ineffective customer acquisition activities. Given that the average ecommerce conversion rate is only 2-5% , there is plenty of room for improvement to achieve a good conversion.
According to Sleeknote, men spend an average of $ 220 and women spend an average of $ 151 per online transaction. If you have 5,000 men and 5,000 women shopping per month, even a 10% increase website conversion rate can increase your income from $ 1.85 million to $ 2.04 million. A 100% increase will more than double your current income, resulting in an increase from $ 1.85 million to $ 3.7 million.
2. Landing Pages – Best Practices
A second chance to make a first impression is impossible. The adage is especially true for ecommerce retailers. If your site doesn’t immediately grab the attention of potential buyers, they’ll move on to the next option. You won’t see a good conversion.
Your landing page design will make you stand out, and in an ever-growing market, this is very important. For example, according to CNBC, there are over 170 online mattress retailers, and consumers have a hard time distinguishing them from one another. Make sure to stand out, but stay simple and you will increase the likelihood of converting your landing page visitors.
Your pages and site should also load almost instantly. They should be designed to reduce loading times. The most important elements should be loaded first, while other content fills up. This is even more important for mobile devices that do not benefit from the speed of a wired Internet connection. Slow page loading on mobile is a recipe for low conversions.
This is because 47% of shoppers expect a web page to load in 2 seconds or less, and 40% of shoppers leave sites that take more than 3 seconds. seconds to load. If this is a problem for your business, consider strategically loading items on your website. For example, if you’re promoting a sale, your carefully crafted, front and center headline should appear first (for example, “BACK TO SCHOOL”), and background images, videos, CTAs, and other information should be uploaded second. , Around him.
Careful use of overlays to add value can make purchases on your site attractive to potential buyers. An overlay with the words “BOOK UP TODAY FOR 10% OFF” encourages shoppers to start interacting immediately and gives them an incentive to make a purchase. It also generates conversions from anonymous visits to registered users.
Once your customer has landed and decided to stay, they need an easy-to-use interface that meets their needs. It’s worth investing in site functionality that provides your customers with the tools they need to make their purchases smoothly. Available search functions, easy to use (and removable) filters, simple categories with some overlap, simple comparison tools and a variety of payment options, including solutions such as Splitit in the checkout process, all contribute to a better user experience.
Finally, no landing page is complete without a clear shipping policy. A persistent shipping banner, (for example: “FREE SHIPPING ON ORDERS OVER $ 75”) should be reiterated throughout your site. This one element can have a big impact on both Average increase website Conversion Rate and Average Order Value .
3. Basic elements of e-commerce
Calls to action (CTAs) are words that inspire people to take action.
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phrases guide shoppers to know what to do next and motivate them to do so. CTAs are an essential component of successful digital marketing. They need to be included throughout the site and strong enough to convince people to take action. Time and time again, we see retailers invest tremendous effort and energy into digital marketing efforts such as creating ads, email marketing, and content marketing such as social media and blog posts, and only to complete their campaigns with weak CTAs. … It turns out that people really know how to tell people what to do. But we do not know how to explain to them why.
The most effective method for determining which calls to action are best for your business is through A / B testing. Create 2 calls to action. Change only 1 variable between versions. Serve the “A” version to half of the attendees and serve the “B” version to the other half within a specified period of time. Count the numbers to determine which version resulted in an increase in ecommerce conversion rates.
Clever calls to action can also have a big impact. These are phrases that are personalized for a specific visitor. For example, a customer who has never visited your site might be presented with a call to action “WHAT TYPE OF SLEEPERS ARE YOU? FIND OUT NOW “. This may lead them to a short quiz that will direct them to the mattress or pillows that will probably work best for them. A regular visitor who has not yet made a purchase can see: “NAMATRATZ IS FREE WHEN PURCHASING – ONLY TODAY!”
Customers are responsive to messages that reflect their current level of interest in your product. This is also called a conversion funnel.
- Get to know your customer, no matter where they are in the conversion funnel.
- Avoid general phrases.
- Sit in the buyer’s chair and think about what motivates you; avoid general phrases. “SEND” or “PLACE AN ORDER” are banal and boring.
- Create a sense of urgency using time-sensitive language such as TODAY or BUY NOW.
- Use first person phrases whenever possible. In one study «Etpu Start my free trial” has led to an increase in the average conversion rate of 90% compared with the «Etpu Start you r free trial. “
Customer service that changes
There is nothing worse than poor customer service. In fact, 44% of shoppers will tell their friends about a bad online experience. However, this problem can be easily solved with Live Chat.
Live chat has quickly become the preferred method of serving customers around the world. According to HubSpot, Live Chat is the most popular customer service engine in the United States and ranks among the top three in the world.
Not only are chat members more likely to convert and complete their purchases, they are more satisfied with their purchases. These visitors are also 63% more likely to return to the site. Even among shoppers who shop online on a weekly basis, 38% make purchases through the chat session itself.
Reviews and testimonials
What is the difference between a product with 5 reviews and a product with 0 reviews? The probability of purchasing a product with 5 reviews is 270% higher.
In the past, buyers have approached the retailer or retailer for product recommendations and questions about the care and use of that product. Now buyers are reaching out to their peers. 91% of female shoppers consider online reviews to be more important than information from a seller in the flesh.
The importance of product reviews increases for more expensive products. Data from the Spiegel Research Center shows conversion rates rise 190% when lower priced product reviews are included. For more expensive products, the conversion rate increases by 380%.
Asking buyers about product reviews can be tricky, but the data shows that improving your conversion rates is well worth the effort.
Refunds can be the scourge of the seller’s existence. The reality is that 41% of shoppers purchase variants of the same product with the intention of returning some or all of them.
This does not mean that you should tighten the policy. Free returns or exchanges are the second reason shoppers buy products online, just below free shipping. 69% of shoppers discourage making transactions when they have to pay for return shipping or product returns.
While a liberal refund policy may not clearly increase your conversion rates, not having them can lead to losing them.
The main reason for cart abandonment in 2018 was shipping costs.
While FREE SHIPPING has been proven to significantly increase conversion rates, it may not always translate into the highest profit margins. It’s not worth it if it’s not profitable. This can usually be managed by using a shipping threshold to encourage shoppers to spend more in order to be eligible for free shipping.
In addition, shipping charges added to the cart just prior to purchase could be interpreted by buyers as opaque, tricky on the part of the seller.
The bottom line is that shipping doesn’t have to be free all the time, but it should be explicit. State your shipping policy clearly and honestly. Buyers need to know what to expect right from the start.
Checkout just got easier
A customer got to your site and stayed there long enough to search for products, read reviews, and add products to their cart. And then they will move on. And their cart is standing there, abandoned. WHAT FOR? Is this a missed opportunity? Adding just one field can reduce conversion rates by as much as 11%. Nobody wants a cumbersome check, either on a computer or on a mobile device. If you do not need information, do not ask for it before leaving.
Try to keep the checkout process limited to one page. Behavioral research shows that the more clicks a user has to make along the way, the lower their conversion rate. If you need multiple checkout pages, be sure to give users a visual insight so they know where they are in the process.
Give customers the option to create an account OR place an order as a “guest”.
Offer multiple shipping and payment methods – Both paid – in full and in installments. Buyers may be eligible for free shipping, but their schedule may require a different option. They may want to purchase the item immediately and be prepared to incur higher costs. Likewise, buyers should have multiple payment options. Splitit Buy Now Pay Later gives shoppers the ability to manage the credit they receive by choosing the amount of dues that suits their budget. There are no apps, credit checks, commissions, or additional interest charges.
4. Psychology of online shopping
Understanding consumer behavior
We are talking specifically about YOUR consumers. Get to know them. Understand them. What do buyers want from YOUR business? If you can get a handle on these extremely important products, it will be much easier for you to sell them to customers, give them what they want, and increase website conversion rate.
Consumer behavior research can be extremely valuable for retailers. Splitit has learned a lot from the regular analysis of trade operations. For example, we analyzed transaction data for purchases made through our platform for 12 months (from May 2019 to April 2020). We then compared the same figures to 4 weeks of economic uncertainty over the COVID-19 crisis (March 15, 2020 to April 10, 2020).
- We found that shoppers were still spending, but their needs had changed.
- We’ve seen shoppers prefer to use credit cards over debit cards.
- We learned that buyers want more time to pay. More than 40% of checkouts have switched from a five-payment option (the most typical plan duration before the Covid-19 situation) to a seven-payment option.
Retailers can use this research to their advantage. Since Splitit does not charge additional interest or installment fees as part of the plan, retailers offering this option may see more adoption of the solution and, as a result, higher increase website conversion rates, even during tough times.
Understanding Your Buyers
Who are your customers? What do they want? Where do they feel they belong?
We’ve done research for you in several popular market sectors so you can optimize increase website conversion rate. They can resonate with you and your customers in other categories too. Highlights:
What buyers want from the product:
- New bedding technology
- Comfort and support
- Construction materials
- Correct size and thickness
- Fair price (49% of buyers say mattresses are fair in price and 43% are too expensive)
What buyers want from a seller:
- Free shipping
- Money back guarantee
- Easy return
- Financing or payment by installments
5. Optimizing Ecommerce Conversion Rates: 12 Things You Can Do Right Now
6. Putting it all together
Website or Ecommerce retailers don’t need to ignore shoppers’ whims or guess what their shoppers want. If you want to know how to improve your conversion rate, you can make data-driven changes to your online store and ecommerce funnel in a way that will dramatically change your increase website conversion rate.