In earlier days we never thought of getting on with business deals by sitting back at home with a cup of coffee but e-commerce has compartmentalized it.
The major segments that are operated by electronic commerce are business to business, business to consumer, consumer to business and consumer to consumer. Any variant of service is provided from e-commerce whether its books or music or financial services plane tickets etc. Now, why to use e-commerce.
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Obviously, it has got its own advantages and benefits. The most important significance is that it is available for 24 hours of time which mean you can do anything at any time and secondly is that the selection option.
Many online stores offer their customers a wide number of products thinking about their requirements but there are set-backs also for example in case you want to buy electronic goods online there are no suggestions as to which brand would be the best for such kind of a device, therefore, the customer service is poor.
Secondly, you cannot get the desired product instantly. It takes days to reach to you. Many stores are trying their best to solve this very big problem related to delivery to their customers.
The major factor that needs to be supervised every now and then for a successful e-commerce website is conversion rate that is it is the percentage of users who take a specific action. Now, these “specific action” can be of numerous types.
- Percentage of users who purchase from that site
- It can be the number of users who have registered onto that particular site
- The site may store the credit card information of their customers which may help them for their future check out of other products
- The users may sign-up to the site (free or paid)
- The users are having social media shares
- The user or visitor may add a product to their cart
These are the very few examples of conversion rate. There are many branches to it.
Why the conversion rates become low?
- The bad impression of the site
- No complete information of the buyers to whom you are selling
- Your site is not well planned
- The site is not available or able to be used from mobile devices
- The page of your website is not filled enough with information in order to engage your visitors.
- The image qualities provided are of poor quality
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These two points can be taken into consideration before improvising further:
1. Know the online store conversion rates
You need to know the accurate conversion rates because that’s aligned with your business goals. An e-commerce conversion rate determines the percentage of users who have bought something from the online store. Since sales are the main objective of the stores so the conversion rates should be at optimized rates.
Online guides are available to for effective management of how to increase the rate.
2. The standard rates of conversion
If everything is right on your websites then the average e-commerce conversion rates are 1-2%. If you have a greater number of sales then it goes maximum up-to 2%.
10 Ways to increase your e-commerce conversion rate without spending:
1. Use product images of high quality
When people buy something online they cannot touch the product physically. Therefore a good image a high definition image to that itself will define all the properties of that particular product for example if someone is buying a dress online she needs to know the color its fabric its size available. An image of that dress and along with its description is helpful.
When we add high-quality product images, look at the user engagement in the following screenshot:
2. Free shipping services.
These add a bonus to increase your conversion rates. Offer as much free shipping services as you can. If you want to balance the amount then add the charges to the product price.
3. Offer coupon codes
Everyone loves a discount or an offer to buy expensive products of their choice. Supply your customers with coupon codes that they can use on the items they check out.
If you look at the example, below Amazon offered a 20% coupon for a product which I have no intention to buy, but after availing the coupon I ended up buying the product.
4. Run a Survey to get user feedback and review your products
If you find that the product available on your website as well as other website is of lower cost then you too need to re-adjust your prices in order to sale more. Not only adjusting the price will help you, but user feedback and generated reviews from them will help you to convert the visitors by offering what they are looking for.
5. Supervise your e-commerce checkout and test in a well ordered
If your e-commerce checkout is a long and complicated process then you may lose a mass of customers so proper supervision should be made through tests
Because the checkout process is the heart of any kind of e-commerce website related to consumer sales. Some brands also give to the customers the complete description of the checkout process.
6. Manage the non-purchased items in the cart by using the cart abandoned software
This software helps you in the rapid increase of conversion rates.
It tracks the customers who have registered or sign-up to your website added items to the cart but didn’t purchase them.
When someone tries to leave the checkout page, we capture them using Webinar offer Exit Popup to convert them as an email subscriber.
This software provides help in free of cost. They allow you to create a follow-up email that is the email will consist of the emails of customers who all didn’t buy items that they did add to their cart and send offers to them or discounts or incentives.
These would definitely increase the conversion rates as they will lure more customers.
7. Make use of live chat software
If you are readily available during the peak hours of your business to respond to your customers then use this software. Customer interaction is very important in order to scale up your sales.
Never allow your software to go to off mode or currently unavailable leave a message. It creates an impact of negativity on your website. A real connection or a network of communication can bring trust and loyalty and can develop a beautiful relationship in the future.
8. Provide a safe and secure environment for the visitors
This is a very sensitive area of concern. You need to make an optimum level of trust in your customers so they can readily feel safe in entering their credit card information to your website.
It’s very hard to build trust where the need to compete in hundreds of e-commerce sites where there are many who are fraud. You can find online help in order to enhance the relationship with your customers. Few points mentioned below can help you with such a problem.
- In the checkout process install SSL
- Display small images of an option provided for a transaction such as credit cards PayTm PayPal etc.
- Display some badges of security software such as Mcfee Geotrust etc. to make the customers secure as well as to show that your website is in the active state.
Look at the example, below, after we added Paypal option conversation improved by 30%.
9. Set- up models or structures so that the users can find their desired products easily
Categorise your products in a well-planned manner and also make sure that you use a fewer number of levels or sub-branches otherwise it would make the search more complicated. You can also use various types of colors or names such as the top sellers or the top branding products in order to increase the attention.
If you look at the search page above, it provides the good number of variable to sort out to find the products that user wants.
10. The checkout form that you use in your website should be of easy access
The details to be filled that you put in your checkout form should be easy to read and understood such as CVV and other input formats.
For example, when the purchaser has to give any date don’t allow her to write the date in month day or year format rather give a drop-down of it then it would be easy for them to give the desired input. Offer the option of digital payments. It makes the transaction smoother.
Everything is properly planned the site you made is running properly with all the resources and information it needs. Somewhere you still find that there is a gap well the gap is the traffic or the density of users and visitors.
Everything you do is around this one big thing that is the sale and the technical or the business term to it conversion rate.
Nobody wants to have a loss in a business strategy therefore to maintain a well-planned business we need to make sure that the conversion rates are always at an optimum level and to make sure of it several factors have to be taken care off.
Every business analyst marketers from across the world come out with different ideas theories strategies or points of betterment to ensure high conversion rate. These are few among them well the list is endless because different people have a different concept and different ways to solve the problem.