Conversion rates are one of the important matrices that merchants must get a hang of to ensure their business’s success. However, with so many opinions, finding conversion hacks that could take your eStore from rags to riches can be confusing. For this, understanding how your business works and interacts with the help of an eCommerce web development company is a must.
CRO (Conversion rate optimization) tactics can open up the gates for eCommerce success efficiently and can also help you in building a positive brand image. But if you are new to the eCommerce business all these talks about different growth hacks by eCommerce development company can overwhelm you.
If you are looking for guidance to help you in finding light amongst these massive loads of information then read on! Here we will be walking through the basics of Conversion Rate Optimization and also shed some light on business-specific practices for higher conversion rates. By the end, you will eventually become capable of crafting your store experience meant for bringing higher conversion and sales.
So let’s get started with the basic definition of conversion rate optimization…
What is Conversion Rate Optimization?
The conversion rate of an eStore is an analytical metric. It allows merchants to measure the number of visitors purchasing from their online store to the total number of visitors. This metric could be used in multiple ways to gain insights on the pain point of an eStore and user tendencies. With knowledge of conversion rates, you can gain insights into the effects of your UI, marketing campaign, and SEO tactics.
This understanding can help your business in creating strategies that would motivate buyers to buy from your brand. The implementation of these tactics is known as conversion rate optimization. Further, their proper use can bring your eStore sales and the glory it deserves.
Factors that directly affect eCommerce Conversion Rates
Before jumping into some of the smart hacks for high conversions, let’s understand the factors that directly affect your eStore. With a proper understanding of these factors managing eStore becomes easier. Further, it also makes implementing CRO hacks more efficient. This is because leveraging them directly affects your eStore overall conversion rates. Below is the list of factors that can directly affect eCommerce conversion rates:
New Customers: Acquiring new customers improves your chances to showcase your products and services efficiently to new buyers. With the right UI/UX and offers to enchant the visitors merchants can easily sell to first-time visitors. So the increase in the number of visitors directly improves the conversion rates of an eCommerce business.
Returning Customers: Reselling to buyers who already love your products and have experienced them is much easier than motivating first-time buyers. This means that with the use of the right strategies merchants can easily improve their overall sales. Moreover, such strategies make reselling their products to previous buyers much easier. As a result, returning customers can positively impact your store’s conversion rates along with its brand images as well.
Improved Average Order Value: Average order value basically stands for the rate of the order being placed by the buyers to the total number of buyers. The increase in average order value basically means your store experiences lower bounce rates and higher sales. This also directly denotes better conversions and sales.
Major Growth Hacks for Conversion Rate Optimization
From the discussion, we can already conclude that to improve the conversion of your eStore, working on the multiple aspects of your eStore is a must. These aspects work together for delivering a unique user experience that could easily drive higher conversion rates for online businesses. Below is a detailed list of some of the conversion rate optimization hacks that your business can adapt to:
Building Trust for Improving Overall Conversions
If you are new to the eCommerce market that believing your visitors will trust you automatically is an audacious move. As a new brand with no buyer reviews and history, building the trust of your visitors should be the main focus. Without gaining trust, even your awesome product catalog might fail to convert your visitors. For this, merchants can choose to implement the following hacks in their eStore:
- To implement trust in your eStore, you can visually imply the safety measures taken by your business for user safety. For this, including elements like trust badges and safe checkout options in the eCommerce store can be a great option.
- Further, you can also highlight how your eStore provides services such as warranty, safe packaging, and easy returns. This will make your business look more accommodating to the buyer’s needs which might catalyze improved conversions.
- Moreover, you can increase the return window of your eStore as well. This will help buyers to ease into making a purchase from your brand.
- Once you start having decent sales, you can use your buyer reviews, influencer links, and media coverage to further build trust.
Converting First-Time Users
As mentioned above acquiring new buyers plays a key role in enhancing the overall conversion rates of an eStore. This means enhancing the first-time user conversion is important for merchants to improve their overall conversions. For this, merchants can easily adapt to the following amazing strategies:
- A generous first purchase discount can be a gateway to higher conversions. As first purchase discounts can motivate your buyer to make a purchase immediately. Also, it can make your brand look more welcoming.
- Also to stop first-time visitors from leaving empty-handed creating a unique exit-intent pop-up is important. In this, you can include offers, benefits, and unique discounts to motivate the buyers in making a purchase.
- Moreover, to ensure that your first-time visitors are accommodated and are catered to you can offer EMIs. This will also ensure a long-term connection with your brand.
Converting Returning Users
Returning users can be a great asset for your eStore. As converting them is much easier and faster. To convert a returning user your business must provide some loyalty benefits along with ease of purchase to them. To achieve this you can implement the following tactics in your eStore:
- Providing a well-managed user account where they can track purchases can make shopping for returning buyers pleasant. It will also help them to track their purchases and save items for later purchases.
- Easy purchases are also one amongst many things returning buyers might expect from your eStore. They made a purchase before it’s only natural that the second time should be made easier by using previously filled info and more convenient checkout.
- Also, to make your returning buyers happy you can also provide discounts on product repurchase and new launches. This will make the returning buyers feel valued and will motivate them to engage further.
To Wrap Up on Conversion Rate Optimization
A high conversion rate should be the primary goal for an eCommerce business. As it ensures profits and sales for an online business. However, to achieve this managing multiple aspects of an eStore is a must for an online merchant. For this, merchants can adapt to the mentioned above hacks according to their business needs and make their eStore thrive. So, adapt to the above-mentioned conversion rate optimization today to stay ahead of the curb and enhance your brand image.