Growth hacking is a necessary practice for eCommerce stores that want to take advantage of low-cost, innovative alternatives to traditional marketing methods, including social media instead of print or television. A key to achieving growth in e-commerce is to carry out rapid experimentation across the entire customer journey. So, our major focus is on three important eCommerce metrics that are acquisition, conversion, and retention.
A higher conversion rate translates into more revenue for your ecommerce business. However, getting more conversions and generating sales is challenging. According to research, the average conversion rate of ecommerce websites stands at about 3%.
So, What does all of this mean??
Therefore, most of your audience never makes it to the end of the sales funnel and bounces away before it is complete. A low conversion rate means that most of your visitors abandon their shopping carts.
Try one or more of these six ideas to seal the deal with your potential customers. These tips will help you double your conversion rates and have you fist-pumping with your sales department in no time.
# The Need for Page Load Speed
Conversion rate is dependent on how fast your website loads. A slow loading website is a major reason why shoppers abandon an eCommerce site. If the load time of your site exceeds two seconds, you may be losing out on a lot of revenue.
You can test your website speed by using Google PageSpeed. If some areas are experiencing red alerts, you should check what’s slowing down your end. Make sure to look at your hosting plan and choose one that provides turbo speed. Next, optimize your website images, thumbnails, and videos for both desktop and mobile pages so that your site loads up quickly.
# Responsiveness
A simple hack to increase ecommerce conversions is to make the site mobile friendly first. You might be losing a significant amount of website traffic because your site isn’t mobile friendly.
By turning your website into a mobile first design, you will draw more traffic to your online store and in effect, increase sales conversion. This is no longer an option, but is imperative for all ecommerce sites, as many people prefer to shop on their phones.
Additionally, make sure you do this at the start of your ecommerce business, rather than afterward.
# Take advantage of FOMO to get instant conversions
In today’s fast-moving life with shortening attention spans, people respond to urgency well. People are not ready to miss out on any opportunity and regret it later. This fear of missing out can work to your advantage as an ecommerce retailer. Create a sense of urgency to convince people to buy your products immediately.
Make people feel a sense of urgency to buy your products in the right manner. What are some ways to do so? Limit the quantity or the period of time people have to buy your products. Let’s explore both more closely.
Limited Quantity
So, if you want to leverage the power of FOMO, simply mention that there are only a few products left and that they are selling out fast. Mention your remaining stock below each product to create a real sense of urgency.
For example, a prospective customer is interested in your product and sees that only 5 units are left in stock. They would want to purchase quickly before the stock runs out. However, if you show that you have 10,000 units in stock, then this strategy will fail, won’t it? So, manage your inventory in such a way that only limited quantities are available at a time and make sure that these quantities are reduced as the products sell. Once your stock reaches zero, you can reset the entire counter.
Limited Time
Another way to create FOMO is to inform your prospective customers that they have a limited time to grab an offer or deal. You can use countdown timers for limited-time deals on your ecommerce website. This strategy is often used by big retailers, like Amazon, to create a sense of urgency. One of the best examples of this strategy is Amazon’s “Deal of the Day”.
# Product Reviews as Social Proof
Almost 88% of customers believe in online reviews as much as personal recommendations. With at least five reviews, a product has a greater likelihood of being purchased than one without any feedback.
Even the top ecommerce development company believes that adding authentic customer reviews can help significantly boost your conversions. It will also reassure shoppers that they are making the right decision.
Checkout these tips to get more product reviews
- Don’t let your customers down (i.e., your product and service must be outstanding).
- After customers receive their products, send a follow up email a few days later. Don’t send one right after they order or receive it. Allow them some time to use the product.
- Make sure your support team asks happy customers for reviews after each interaction.
- Engage with your customers (both happy and unhappy) on social media. See them if you can do anything to make their experience better. If possible, do so and then ask them for a review.
- Send direct links to review pages instead of simply asking customers to review the recent product they bought.
# Utilize high-quality product images and videos
Another factor that plays an important role in ecommerce conversion optimization is the images of the products. During the designing phase of your product page, make sure that you include numerous high-quality images and videos of your product.
What purpose does this serve?
Through images and videos, you can clearly show your prospects how your product looks or works. As a result, they’ll be better cleared to decide if they want to purchase your product or not. Moreover, remember that visuals can attract the attention of your visitors, so they play a major role in pushing them to purchase your product or service.
Note how Amazon uses multiple images to showcase their products. You can check-out each image to see the product better too.
# Payment and checkout process optimization
Did you ever leave products in your cart because the checkout and payment processes were unnecessarily complicated and lengthy?
Well, you are not the only one.
Many consumers abandon their carts for this reason. Maybe the registration form have some complications or there aren’t sufficient payment options or something else is driving your prospects away.
The easiest way to avoid this is to optimize your checkout and payment processes.
How?
By simply following these tips:
- Allow prospective customers to login through social media.
- If you do really need them to fill a form, only consider the essential information fields.
- Multiply the payment options.
- Use secure payment methods.
These are some essentials that you need to have to provide a quick and hassle-free checkout experience for your customers. This will not only boost your ecommerce conversions but also help to improve your customer experience.
Want to boost conversions on your eCommerce site?
These are some of the most effective ecommerce conversion strategies used by expert marketers. Try some or all of them to increase traffic to your website, increase sales, and improve customer service. So, what are you waiting for? Get them implemented right now and see the results for yourself. All the best!
