s an e-commerce store owner, your success will hinge on how well you are able to acquire new visitors and convert them into paying customers. Studies show that it can be up to five times more expensive to acquire a new customer than to retain an existing one. And, if you want to reduce that cost, you'll need to figure out a way to improve your store's conversion rate.
Luckily, e-commerce platforms like Shopify make it easy to see what your conversion rate is, and how it is impacted by small tweaks you make to your site. Some tactics can lead to drastic improvements overnight, while others will fall short of expectations.
The average conversion rate of e-commerce websites is around 2.57%. This means that for every 100 visitors, you can only expect 2.57 customers. And, this is a pretty good conversion rate, too. Some websites will perform higher, while the majority of them will underperform. Fortunately, this is something that is within your power to control. Without further ado, here are 5 effective ways to increase your store's conversion rate.
Add a pop-up to your site
According to a study by Sumo, the average conversion rate for on-site pop-ups is about 3.09 percent. However, when you optimize correctly, you can reach the top 10 percent of pop-ups which fetch an average conversion rate of 9.28 percent. As you can see, these slight modifications can catapult your conversion rate to new heights. Here are some quick tips for using pop-ups to their fullest potential:
- Add a 30 second delay timer on the pop-up so that it isn't the first things new visitors see
- Make it simple and easy to close the pop-up
- Set a cookie so that the pop-up only appears once per user, or per interval of time.
This combination alone can give you a huge boost in conversions and keeping your complaints to a minimum. Our Shopify app, Tada, is designed to keep these best practices top-of-mind. Tada allows you to create customizable pop-ups for every occasion, such as collecting emails, offering discounts, or demonstrating social proof. And, through our in-app analytics dashboard, you can see exactly how well your pop-ups are performing, and get ideas on how to improve them. It's never been easier!
Add Testimonials, Reviews, and Logos
Generally speaking, no one wants to be the first one to use a new product or service. People are risk-averse, and would rather spend their time and money on something that is sure to deliver. You can gain your shopper's trust by making it easy to find reviews and testimonials from past customers. Social proof, such as testimonials, can quickly put consumers at ease. This can result in as much as a 400% improvement in your conversion rate, according to growth marketing expert Angie Schottmuller.
The key is to display your testimonials and reviews in a way that is both intriguing and trustworthy. Reviews that have clearly been issued with ulterior motives (i.e. bribed) will never have the same impact as honest ones. If done properly, even your brand's logo can be a symbol of assurance and integrity to your customers.
Make the initial step really easy
There’s a well-known psychological principle called the sunk cost fallacy that drives human beings to finish what they start. With this in mind, when it comes to your offer or product, you should ensure that the first step in the customer journey is extremely simple to complete. Rather than asking your shopper to fill an entire form, start off by asking for an email address and first name.
Next, you try to collect the other pieces of information necessary to complete the purchase. But by asking for the name and email address first, you'll be able to put them in an abandoned cart email marketing workflow if they don't end up finishing the checkout. The easier you make the initial step, the higher the chance of your visitors taking action to finish what they started.
Add live chat to your site
Providing your customers with a clear way to contact your customer support team can do wonders for your conversion rate. This is often more about trust than anything else. Many visitors who wish to purchase your products or services will end up on the fence due to some lingering questions. Having a live chat, toll-free number, or help center will reassure them that you will support them after their purchase, and that they can trust you with their money.
Tools like Live chat are perfect for helping your shoppers take the final step. With the invention of E-commerce apps, live chat tools can be added to your site with the click of a button, giving you an immediate boost to your conversion rate.
Try another offer
When you pay too much attention to your landing page design or copy, or other related factors, you can easily overlook the importance of selecting the right offer. Your offer is one of the primary determining factors of your conversion rate and needs to deliver as much value to your customers as possible.
If your conversion rate is edging on the lower side, you can split test multiple offers until you find the one that best resonates with your audience. You might fail the first few times, but if you continue to experiment and track the results, you’ll eventually one that outperforms all the others.
When you drive people to your online store via paid ads, content marketing or affiliates, etc., every shopper who leaves your site without making a purchase is a missed opportunity. An e-commerce conversion is logged when a shopper goes ahead and takes an action which is typically a sale, rather than adding a product to the cart or adding items to the wishlist. These tips are bound to skyrocket your conversion rate, and it might take you some time to figure out what works best for you.
Best of luck!
This is a guest post written by Evelyn Hills from Tada.