Tuesday, October 4, 2022

10 Factors That Influence E-Commerce Conversion Rates

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The conversion rate is the most significant parameter that decides the success of an e-commerce business. The main objective of an online website is to sell the products or services by enticing the visitors to complete the transaction. In other words, it is all about converting visitors into buyers and bringing in sales for the business. The conversion rate, thus, defines the ability of the site to convert the prospective customers. The prime focus of the seller is to maximize the conversion rate. This can be quite a challenging task considering the fact that there are hundreds of competitors that a majority of businesses encounter on the internet. The solution lies in understanding the factors that drive conversions by influencing the visitors to close the sale. Let’s try to explore the secrets of a successful e-commerce journey:

  1. Intuitive website design: The design of the online store is the first impression that the user gets about an e-commerce business. Primarily, the focus should be on keeping it simple, intuitive and easy to navigate. The elements should not be cluttered and should be placed in a nice flow that the user can understand. Redundant elements should be eliminated as they tend to confuse the visitors. Design the website to deliver a seamless shopping experience with minimal form-filling, particularly at the checkout phase.
  2. Relevant content: The next factor that plays a crucial role in driving purchase decisions is relevant content. While the design is the body of the online store, content is its soul. Have clear and attractive images of the products and services, along with engaging content. The website copy should be concise yet appealing to the users so that they understand the value being served by the product and service. You can also include a blog to build your customer base with the help of storytelling.
  3. Research your audience: As the online shoppers look for personalized experiences, you can definitely boost conversions by delivering them the same. Research is the backbone of e-commerce businesses as it helps you to understand the prospective buyers, their preferences, demographics, and shopping behavior. Studying the market helps you to understand these trends, and so does gathering the search and shopping history of the visitors. Analyze this information and use it to design/redesign your product and send personalized content to the potential buyers.
  4. Build trust and loyalty: With e-commerce, it is important to win the customer’s trust as they do not have a tangible product that they can see and make a purchase decision. It is the impression you create on the store that determines their decision to convert. Adding genuine customer reviews and testimonials is a great idea to build trust and loyalty for your brand. You can even encourage them to share videos which you can post to enhance the credibility of your products.
  5. Extend your social reach: Another factor that influences the conversion rate of your e-commerce website is social engagement. Build online communities to extend your social reach. Similarly, having social media profiles across various channels, like Facebook, Instagram and Twitter, helps. These communities and social pages encourage users to post content and share products with existing and prospective customers. A greater reach translates into more popularity for the brand, which encourages people to convert.
  6. Invest in targeted marketing strategies: Targeted marketing strategies such as email marketing are another good idea to propel the conversion rate for your business website. Delivery of personalized emails regarding special deals, sale offers, and product launches influence the shoppers and serve as a powerful marketing tool that encourages them to shop. You can even try sending them special birthday wishes along with a discount coupon as a part of targeted marketing.
  7. Pricing is important too: Pricing can be the sole determinant of the conversion rate of your online store. The internet is flooded by a large number of sellers offering products and services of similar types and quality. In such circumstances, the customer is literally spoilt for choices and the price of products can be the factor that drives them to buy from a particular site. You can use pricing to take the conversion rate up. Offering special deals and discounts from time to time can give your conversions a boost.
  8. Speed matters too: The speed of your online store has a surprising impact on its conversion rates. The online shoppers are an impatient lot and it is hard to hold their attention for long. A site that has slow loading pages is sure to drive them away before closing the transaction. It is common to experience speed lags during the festive season when the site traffic is high. Slow performance can translate into abandonments and returning customers. Therefore, you must pay due attention to site optimization to ensure that it is always on top when it comes to performance.
  9. Be responsive, be available: In the era of mobility, you cannot rely solely on websites to keep conversations flowing in. Being available on the mobile is a great opportunity as customers love the convenience of shopping on-the-go.  You need responsive websites so that the visitors have consistent experience irrespective of the device, browser or operating system they use. Better still…..invest in a mobile app so that the visitors can convert with just a few clicks on their smartphone screen.
  10. Keep track of metrics like inventory, shipping, and payments: Deliver ease in every single shopping experience that you craft for your site’s visitors. Have enough products in stock to ensure timely fulfillment of orders. Also, partner with reliable shipping companies and offer multiple payment options as well. All these factors directly influence the purchase decisions of the site visitors.

Finally, it is vital to understand the concept of conversion funnel so that you can bridge the gap between visitors and customers. The Ultimate Guide to Ecommerce Conversion Funnel Optimization can be of great help. Bridging this gap becomes easier if you take the right approach and follow the right strategies of e-commerce selling.

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Sara Revonia
Sara Revonia
Entrepreneur, Speaker, Author, and Mom. Sara Revonia’s articles are about business, life, and Entrepreneurship.
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