Sure-Shot ways to improve e-commerce conversion rates in 2020

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Technologies (P) Ltd. Technology Delivered, Since
2001
SURE-SHOT WAYS TO IMPROVE E-COMMERCE CONVERSION
RATES IN 2020
BUY
SHOP
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A website without conversions is like a car
without
That said, conversion rates arent going away.
And theres a simple reason.
CONVERSION RATES AND E-COMMERCE
wheels - stationary and useless. As an expert
puts it conversion rate is one of the most
important marketing metrics. Its a metric that
lead generation marketersfrom practitioners all
the way up to CMOs - are measured on. In other
words, your store stands nowhere if it cant
convert visitors into customers.
Go hand in hand, irrespective of the business
type!
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AVERAGE CONVERSION RATE
TOTAL SESSIONS
SESSIONS WITH PRODUCT PAGE VIEW
SESSIONS WITH ADD-TO-CART
SESSIONS WITH TRANSACTION
Needless to say, its not realistic in the
slightest to expect everyone who visits your
site to end up making a purchase. In fact, the
vast majority of your sites visitors are going
to leave without doing so.
According to the funnel, the average conversion
rates of eCommerce stores across industries is a
mere 2.86.
That said, theres one keyword in that statement
that should stand out to you Average.
Yes, the average eCommerce store typically sees
its conversion rate hovering around the 2-3
mark. Have you calculated yours? If not. You
de?nitely need to switch to the next slide.
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Total number of conversions / Total number of
sessions 100
Here are 3 conversion rate formulas to use
THE MATHEMATICAL FORMULA TO CALCULATE
CONVERSION RATE
Total number of conversions / Total number of
unique visitors 100 Total number of
conversions / Total number of leads 100 Note
All of these formulas are absolutely valid. The
best way to calculate conversion rate depends on
what exactly youre de?ning as your conversion
event and how you plan on measuring tra?c. The
numerator will measure your conversions (as
de?ned by your conversion rate goal) and the
denominator will be what you de?ne as your total
pool of tra?c (generally session count, unique
visitors or leads).
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HOW TO MEASURE CONVERSION RATE ON YOUR SITE?
What needs to be done?
Set up conversion tracking. Google Analytics is
one of the most renowned and substantial
options. You might also want to consider
KISSMetrics or Mixpanel depending on your
business size and scale.
Drop conversion tracking events at multiple
points in your funnel. Install a pixel or
identify a tracking page once you get started
with the chosen software tool. Almost every
software provider gives explicit instructions on
how to perform this. Get tracking. Once the
data starts ?owing, its time to start using it
for actionable consequences. Review the data
frequently to start tracking and improvising your
conversion rate.
Now that weve reviewed the formulas behind the
basic math its time to take this knowledge
and use it to implement conversion rate
tracking on your site (if you haven't already).
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Personalize, Personalize, Personalize
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Integrate Social Media
Create Brief and Crisp Content
THE SECRET RECIPE TO HIGHER CONVERSION RATES
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Invest in Automation
Humanize your Landing Pages
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Remove Buyer Uncertainties
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Create a Magnetic Call To Action
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Showcase Multiple Forms of Social Proof
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Use Scarcity, Urgency to Your Advantage
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Provide Multiple Discount Options
THE SECRET RECIPE TO HIGHER CONVERSION RATES
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Implement Upsell, Cross-sell and Downsell
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Provide a Persistent Shopping Cart
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Allow Guest Checkout
O?er Multiple Payment, Delivery Shipping
Options
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ECOMMERCE CONVERSION RATE BY CHANNEL/SOURCE
Referral tra?c is by far the best performer and
highlights the need among eCommerce retailers to
encourage.
eCommerce conversion rates by tra?c source are
incredibly useful to retailers because the
?gures can be used to set channel-speci?c goals
while also honing in on the most promising and
best-performing sources of tra?c.
Referral tra?c is driven from external sites
that link to your store. This can be an expert
post recommending one of your products or a
comment on a blogpost. If the tra?c source is
highly relevant, people often come with a strong
purchase intent. This is why the average
Referral Conversion Rate performs so well.
Florian Schulze, Compass
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Because eCommerce isnt going anywhere- its
gonna bloom!
WHY OPT FOR CONVERSION RATE OPTIMIZATION?
With the majority of the population moving
towards online shopping, its is necessary for
you to buckle your belts and adopt ways that
bring maximum conversion.
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Helps You Understand Your Customers Better
Lowers Your Customer Acquisition Costs
Allows You to Beat Your Competition
WHATS NEXT?
Improves Your Brand Perception
Google Will Love Your Webstore
Increases Your Customer Lifetime Value
Its the endless bene?ts that conversion will
bring for your business
Gives Incremental Business Returns
Makes Your Paid Advertising More E?ective and
a lot more
Boosts Sales
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ARE YOU READY FOR THE BIG STEP TOWARDS
CONVERSION?
Our certi?ed eCommerce experts have it all set,
get in touch with them and experience eCommerce
like never before!
We have helped clients worldwide in achieving
their goals and ultimately success.
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THANK YOU!
91-11-47567701/02 info_at_nethues.com
www.nethues.com
Technologies (P) Ltd. Technology Delivered, Since
2001