eCommerce conversion rate optimization has become a necessity for eCommerce & online brands in the present age.
The online shopping market is growing exponentially with its easy-to-use, universally-accessible, diverse, and interactive aesthetics.
Even experiential elements are also being integrated into eCommerce like offline brick and mortar shops.
Although the eCommerce market is expanding rapidly as an eCommerce or online store, you need to be vigilant about your strategies & actions – even if you are an experienced player in the market – as one wrong action can lead to enormous losses.
We have formulated this complete expert guide for eCommerce brands & online stores to optimize and improve eCommerce conversion rate, including expert tactics & best eCommerce tools.
Let’s get the basics right initially!
- What Is eCommerce Conversion Rate?
- Best Tools To Analyze & Improve eCommerce Conversion Rate
- 24 Strategies For Ecommerce Conversion Rate Optimization
- 1. Understanding Consumer Behavior Is Most Important
- 2. Easy Product Discovery & Store Navigation
- 3. Embrace The Power of “Shoppable UGC”
- 4. Offer Competitive Pricing With Free Shipping
- 5. Provide Strategic Discounts, Offers, Coupons & Contests
- 6. Checkout Process Analysis & Simplification
- 7. Build Social Proof With Product Authenticity
- 8. Payment Security Optimization is A Must
- 9. Bring Exclusivity & Influencers
- 10. Constant SEO Optimization of Your Ecommerce
- 11. Brand Store & Shopping On Your eCommerce
- 12. Let Them “WishList” Without Registration
- 13. Mobile Device Optimization Is Utmost Priority
- 14. Live Chatbot On The Product & Cart Pages
- 15. Keep The Content Interactive & Humane
- 16. Use Google Recommended Media Formats
- 17. Highlight Contact Information & Support Center
- 18. Get Emails From Users
- 19. Engage Users At First Sight
- 20. Last Interaction Point
- 21. Average Session Rate
- 22. Use CTA’s Strategically
- 23. Membership & Rewards Program
- 24. Speedy Responsiveness
- Industry Experts’ Advice
What Is eCommerce Conversion Rate?
The eCommerce conversion rate is defined by the total number of sales (conversions) divided by the total number of visitors in a defined period on an eCommerce platform or online store.
To understand more specifically, an eCommerce conversion can be any of the following:
- A sale of a product/services
- Signup by a user on the eCommerce platform
- Add products to cart or Wishlist
- Any specific action taken by a user on the eCommerce platform (predefined as a KPI)
The theory of having maximum traffic increases the possibilities to increase the eCommerce conversion rate. But that is not always true. Countless factors affect the journey of a visit to conversion.
We have brought together the complete guide about eCommerce conversion rate optimization, issues, reasons, benchmarks, and most importantly, eCommerce conversion optimization strategies.
eCommerce conversion rate optimization is the process of implementing strategies & taking actions on eCommerce store to maximize conversions & improve the user shopping experience
Best Tools To Analyze & Improve eCommerce Conversion Rate
Here are some of the best tools for eCommerce conversion optimization that will help you better understand, analyze, and improve eCommerce conversion rate.
1. Google Analytics
Google Analytics is a tool by Google that gathers user data from your eCommerce platform for tracking their on-site behavior, clicks, demographics, and many more insights.
Most of the leading brands globally use Google analytics to explore the key user information like how users find your platform, which pages receive most visitors, a conversion journey, location, devices, etc.
The insights like monthly traffic, clicks, conversions, the bounce rate for different pages, returning visitors, new users, and conversion path tracking help find out the KPIs for your platforms and gaps & improvements that you need to make to enhance your eCommerce performance.
2. Taggbox Commerce
Taggbox Commerce is a complete eCommerce platform that lets you increase eCommerce conversion rate and improve your website’s shopping experience.
This tool helps you turn your social content into shoppable galleries like Shoppable Instagram feed, Shoppable UGC gallery, visual gallery, etc., and publish them on your eCommerce homepage, category pages, or product pages.
These shoppable galleries help build trust, boost user engagement, showcasing authenticity & real-life value of products, and inspire users to turn their inspiration into action by buying the products directly from these shoppable posts.
It provides a seamless shopping experience, inspired purchases, more valuable customers, trustworthiness, better product discoverability, website vibrancy through visuals, and maximum ROI. Taggbox Commerce also offers social commerce & visual commerce platform.
VWO is a platform for eCommerce conversion optimization that provides solutions for visitors’ to research, design optimization roadmap, run A/B testing & experimentation with their eCommerce platform.
It has features for planning, organizing, analyzing, and implementation of optimized customer experience.
One of this tool’s key solutions is “Cart abandonment campaigns,” which is quite crucial for eCommerce brands as the cart abandonment rate hurts the conversion rate for eCommerce and overall performance.
Besides, it also helps the brands to understand the user behavior at different stages of the eCommerce sales funnel and capture the window shoppers. So, you can easily increase eCommerce conversion rate.
Shoppimon is a secret shopper tool for eCommerce conversion optimization that monitors, tests, and analyzes issues relating to your eCommerce website that can hinder the user experience and negatively impact your conversions.
These issues can include but are not limited to responsiveness, visuals not loading, broken links, server issues, site crash, payment gateway issues, and much more.
24 Strategies For Ecommerce Conversion Rate Optimization
We have listed 24 key eCommerce conversion rate optimization strategies for online brands. These strategies have been identified and brought together after comprehensive research and analysis for eCommerce conversion optimization.
1. Understanding Consumer Behavior Is Most Important
Before forming any strategy or action plan for your eCommerce business, you need to know your target audience, interests, demographic data, geographics, persisting consumer trends & their online behavior.
Having an ideal buyer persona will help you determine what the audience expects from you as an eCommerce, and then you can optimize your strategy and eCommerce platform accordingly.
2. Easy Product Discovery & Store Navigation
Product discovery is one of the major influencers of low engagement and high bounce rates for an eCommerce store. What can be more irritating than if a user comes to your eCommerce store and could not find the product he wants and you have it on your eCommerce.
As the user could discover the product or navigate through your online store, it will be a loss of your earned users who had the intention to explore and most probably buy the product.
So, it is essential that you make the product discoverability seamless, quick, and easy, where users can navigate to all the categories and products. You can take inspiration from successful eCommerce platforms for product discovery and store navigation strategy.
3. Embrace The Power of “Shoppable UGC”
Shoppable UGC or Shoppable User-generated content can be termed as the most influential strategy for eCommerce for 2021.
User-generated content is the most trustworthy, reliable, and authentic form of content that inspires the users to get inspiration and build the intent to buy the showcased products in the UGC.
UGC is extremely helpful in shaping a consumer’s online shopping decision, and 90% of consumers agree with it.
You can collect such UGC from social media platforms and tag products to make them shoppable and publish Shoppable UGC galleries on websites. Taggbox Commerce is the perfect tool that can help you leverage Shoppable UGC for your eCommerce conversion rate optimization. Similarly, you can also publish Shoppable Instagram galleries.
4. Offer Competitive Pricing With Free Shipping
This is an excellent combination of two great aspects of online shopping that shape a consumer’s choice of eCommerce platform for their shopping activities.
Having competitive pricing is a crucial element in the eCommerce industry that can attract more consumers as pricing wars are continuously ongoing among eCommerce platforms for grabbing consumer attention.
Free shipping is a mandatory feature in present-day eCommerce that can reduce cart abandonment immensely as many visitors leave a transaction when they come across shipping costs.
So, Competitive pricing with free shipping can increase eCommerce conversion rate.
5. Provide Strategic Discounts, Offers, Coupons & Contests
These are tried and tested tactics that always bring in results for the businesses. These can also be used for your eCommerce platform.
Consumers love it when they get offers and coupon codes when they are not expecting it. Coupons and offers psychologically influence consumers’ intention to buy.
Besides, you can provide seasonal discounts or discounts for occasions like birthdays, anniversaries, etc. This can also grab the attention of the consumers and increase eCommerce conversion rate.
You can also organize contests or lucrative offers that require user participation in buying a minimum amount of products to stand a chance to win some products or reward points.
6. Checkout Process Analysis & Simplification
You want your consumers to have the best experience with your eCommerce platform, and that does not just mean good products, competitive prices, offers, and free shipping.
But even their shopping journey should be easy and simple when they are purchasing with your eCommerce platform.
A long, lengthy, and unconventional checkout process will lead to a high bounce rate and cart abandonment. Therefore, your focus should be to give the consumer an easy, quick option for checkout with minimum clicks & information-filling to increase eCommerce conversion rate.
You should continuously check and test your checkout process for any issues or shortcomings.
7. Build Social Proof With Product Authenticity
The one thing that Consumers have a big concern about is whether the products showcased on the platform will be the same on delivery as well, i.e., there won’t be any discrepancy, deficiency, or shortcoming.
As an eCommerce, it becomes your responsibility to ensure that authentic products are being delivered to the customers. Authenticity will build your eCommerce reliability & trustworthiness that is a big aspect that consumers consider while shopping online.
This will immensely help uplift your brand image in the eCommerce industry with social proof, which can drive conversions for your eCommerce by building customer loyalty.
8. Payment Security Optimization is A Must
Monetary safety & security has been a constant concern for consumers since the inception of the Internet.
When product authenticity could affect the consumers’ trust & reliability, think about how much trust it will take for them to enter their banking details on your portal.
Legitimacy & credibility are two elements that can help to build monetary trust for consumers and increase eCommerce conversion rate.
Showcase Information privacy policies, install SSL, provide Cash on delivery option as much as possible, trustworthy payment options, have virus & hacking protection software, etc.
9. Bring Exclusivity & Influencers
People are attracted to products that are exclusive and are highly curious about such products. You can collaborate with famous brands to bring in exclusive products to your eCommerce.
Having exclusive products will give your eCommerce a distinct identity ,and you can also benefit from the collaborated brands’ goodwill and exposure through them.
Similarly, you can also collaborate with influencers to channelize traffic to your platform, and also, influencer recommendations will help in building trust among the users.
10. Constant SEO Optimization of Your Ecommerce
What can be more horrifying than having the best products & pricing, but users aren’t even able to find you when they search for products or online shopping.
That’s why Search engine optimization is highly crucial as it helps you optimize your webpages & their content. So when people search for relevant keywords, you appear as the best option on the search engine results page (SERP).
Having maximum relevant keywords and backlinks will help in getting more exposure in SERP’s. It will drive maximum traffic to your eCommerce platform.
Where On-page optimization can help you retain the users, gain engagement, and move further towards conversions.
11. Brand Store & Shopping On Your eCommerce
Your eCommerce might have products listed from hundreds or thousands of different brands, offering a vast range of products. But you might be missing out on brand stores. What are they?
A brand store on your eCommerce means that you create a page where users can find the different products from a particular brand in one place. This is quite crucial in the digital age, where people are loyal brand followers.
Having a brand store will make it easier for users to buy multiple products of different categories from a particular brand without having to navigate to different sections and categories.
12. Let Them “WishList” Without Registration
Wishlist is a feature that has been introduced in recent years allowing users to “pick and hold” the products that they like. It allows users to keep exploring products without hampering their shopping experience.
The challenge is that most eCommerce stores ask users to register to access the “Wishlist” feature. Users are always hesitant to register. Thus, it leads to minimal engagement and dropout.
So, if you can offer the users’ wishlist products without having to register, it can help you uplift engagement, return visits, personalization, retargeting ads, and much more to generate conversion.
13. Mobile Device Optimization Is Utmost Priority
According to statista, there are an estimated 3.8 billion smartphone users globally in 2020. This makes it half of the world population. 80% of mobile users have made an online purchase in the last six months using a smartphone.
Mobile eCommerce is growing day-by-day. Studies show that a bad mobile experience reduces the chance by 62% of a user to turn into a customer.
Even Google is constantly bringing updates to empower platforms that are mobile-friendly, i.e., a mobile-first approach. Therefore, optimize your eCommerce platform to work seamlessly with mobile devices to stay ahead of the competition.
14. Live Chatbot On The Product & Cart Pages
In brick and mortar stores, we have assistants who help us find products, the right size, provide information, and answer our queries while shopping. Having assistance is also important in the online shopping environment.
Adding a live chatbot, especially on the product and checkout pages, can help the customers to get useful information instantly. It will reduce the possibility of cart abandonment and a high exit rate.
15. Keep The Content Interactive & Humane
We know it is important to showcase the necessary information about the products. But it is important that you make the content and language interactive so that it feels realistic and not promotional.
You can even integrate humor, fun, creativity, etc., into your content to make it exciting and engage. Don’t just display information. Rather, give users the reasons why they should buy the product from you. It will have a positive impact on increasing eCommerce conversion rate.
16. Use Google Recommended Media Formats
We listed earlier that mobile device optimization is important for Google; similarly, it is also important to optimize the media content on your website as per the recommendations made by Google.
As part of the web core vitals, Google states that using optimized media formats like WebP, WebM, JPeG200, etc., instead of JPEG, PNG, or MP4. It can help in improving the website speed and performance.
17. Highlight Contact Information & Support Center
Listing the contact information on the homepage or making it easily accessible for users will act as a trust signal. It will show that users can reach out to simply through various mediums if they have any questions, queries, or concerns.
You can even set up a support center to provide key information that is important for all users. Having such information helps the users get the required information and build trust for your eCommerce.
18. Get Emails From Users
Email marketing is still an effective way to attract customers, drive traffic, and generate conversions. Especially in the case of eCommerce, emails can be immensely helpful to build customers and drive revenue.
So, set up an easy and quick way to capture the emails from users without disrupting their browsing or shopping experience. Also, emails are a great way to get return visits and retarget your users.
19. Engage Users At First Sight
The first few seconds are considered as most important for any website (even eCommerce). These few seconds define the further engagement of the users with the platform.
Ensure that first sight of your eCommerce store delivers the necessary information to keep the users hooked and magnify engagement. You need to list your best offers, most popular products, seasonal trends, etc. to engage users.
Bonus Guide: Key Minor Elements To Optimize
20. Last Interaction Point
Analyze and research through analytics why the users are leaving your eCommerce platform and their last point of interaction with the platform. If there is a page where users are dropping out in huge numbers, then you can review and fix the issues.
21. Average Session Rate
Check the average dwell time of the users, and if it is low, then check your website for issues, and if it is high, but the conversion rate is low, then you should check for product pages, payment options, & checkout process.
22. Use CTA’s Strategically
Call to action buttons are necessary to make the job easier for the customers as they can provide direction to the users. Place the CTA bold and in noticeable locations on pages.
23. Membership & Rewards Program
Amazon Prime is the best example to understand how membership can benefit your eCommerce store. You can introduce premium membership with rewards, add-ons, priority shipping, pre-access to offers, and much more that can attract users..
24. Speedy Responsiveness
Speed and responsiveness are crucial elements as consumers are looking for minimum time investment with maximum output. Your product visual & pages should load quickly & there is no lag.
Industry Experts’ Advice
The experts from the eCommerce industry recommend that you should analyze initially. Then formulate the eCommerce conversion rate optimization strategies that best suits your needs, goals, and objectives.
Besides, once the traffic comes in with your eCommerce conversion rate optimization strategy, you can’t stop there. Instead, you should retarget the visitors with a more personalized strategy constantly but do not spam their inbox.
Also, identify the key strategies like visual marketing, behavioral analysis, Shoppable images, etc that are working for your eCommerce conversion rate increment and filter your future strategy accordingly. This will help in enhanced returns on investments.
These detailed strategies will help you get insights into how to increase eCommerce conversion rate. Also, what are the prevailing issues in the eCommerce industry that are harming your eCommerce conversion rate & strategies to counter that, and tools that will help you do it.
It is not essential that you implement all of these strategies for your eCommerce. You can research & find the areas of improvement for your eCommerce platforms. Finally, you should use the best strategies to increase eCommerce conversion rate.
There are a lot of opportunities, audiences, and areas that you haven’t explored yet. So, the website conversion rate is a crucial step that you need to constantly optimize to attract, engage, and convert the users.
This guide can help you to understand the e-commerce conversion rate benchmarks & execute them successfully.
Increase Your eCommerce Conversions Now
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