This abbreviation is a sacred cow for every marketer. They run design sprints, set up endless meetings, visiting meetups and browsing tons of online content to find the answer on a simple question: “How to improve conversion rate?”
Imagine what it would be like to stay ahead of the game. Retailers are looking for new ways of conversion rate optimization to increase margins of their e-commerce business, and we are providing you with this quick how-to guide you can use right away.
As a snowflake, methods to improve ecommerce conversion optimization are unique for every retailer. Some need to provide customer with a phone number on the main page, other’s website need a general redesign, third one will thrive with additional delivery options.
Long story short, here are the most efficient ways to boost CR:
Buttons, product photos, white space, detailed description, additional products, search—the list of website improvements can be endless. Don’t forget to A/B test every element you change to define the best option that’ll blow your customer away.
The traffic sources are endless area for creativity. Consider the medium when showing your customer a greeting message to catch their eyes and keep them on the spot.
We’ve all been there. That’s obvious and still efficient. Psychological pricing? Yep. Exit-intent popups? Indeed! People still pay attention (even subconsciously) to such activities, and guess what? They’re buying staff from those who uses psycho tricks like these.
Build trust with testimonials, video reviews, unpack photos etc. Do everything to provide your customers with social prove: this particular product was bought by dozens other people and they’re happy to use it daily. 92% of people are reported to give credit to peer recommendations.
Commonly accepted payments, such as PayPal; SSL-certificate for website; GeoTrust, Norton, McAfee and other kinds of security certification seal... People want to know they are safe and sound prior to disclosing their credit card details or making a decision about cooperation.
It’s a t type of psychological trick mentioned before, yet more powerful. “Free” sign persuades to buy. According to the 2017 Pulse of the Online Shopper survey, nearly ⅔ of shoppers admit that free shipping is an important factor affecting their final decision. Yet, shipping is not the only “free” option you can give customers.
Promotions and markdowns attract attention. The only thing to consider is to keep businesses profitable with all these activities. Don’t let promos cannibalize your profit.
If you can do it 24/7—do it. If not, don’t. Just be honest with customers and give them an option to reach you through their favorable channel, not through the one you prefer.
Every retailer is competing with a must-not-be-named rival who provides the same day delivery. Consider adding something special to your delivery options to beat the competition. It could be a free gift, or late-night/early-morning delivery options, you know your audience. Use this knowledge!
How many mouse-clicks does a customer make to find the required product? How many fields need to be fulfilled to purchase a thing? Can you reduce this numbers?
We won’t focus on this: we are living in the omni- and multichannel world now.
Adapt to the new reality or die.
On first sight it has not much to do with CR improvement but it’s crucial for business to recur customers instead of constantly invest in acquisition. One can use e-mail, messengers, sms or any other channel to build automated upsell strategy.
But wait – there’s more.
No matter how many efforts you spend on CR optimization, if you fail on this single point, your cart will be abandoned.
Whenever customers are looking for products, the most common reason for them to continue their research instead of immediate buying is price. A study shows that 8 out of 10 customers compare retail prices before making a purchase. It makes sense that conversion rate is highly affected by e-commerce pricing as one of the most important factors of conversion rate optimization for retail.
Therefore, the list of CR improvements retailer could provide will look like this:
The algorithm is simple:
Yep, it's simple.
Ecommerce conversion rate optimization aside with optimal prices can give you an advantage among your rivals and help you to build sustainable relations with your customers.
Last but not least.
Just to give you a hint on how you can automate your competitive pricing, take a look at Price Intelligence Platform we built. It’s a simple to use yet powerful solution that reduces hours of manual work and provides retailer with pricing insights to win the market. Did we mentioned that you can also reprice your products with less than three mouse-clicks? Yes, you can.
Optimize your conversion and stay competitive with us. Request a pilot to test how Competera can improve your conversion rate by setting optimal price
Input profiling and configuration
Revenue-jump and predicted performance management through: