Before I get into the nitty-gritty of improving conversion rates, let’s start by explaining what conversion rates are and why a high conversion rate will help you spend more time relaxing.
In e-commerce, a conversion rate is a percentage of the visitors who purchased an item from your store.
Is that the only important conversion rate? No, there are more conversion out there you should be monitoring.
- Number of purchases
- Number of visitors adding a product to their wishlist
- Number of visitors adding a product to the basket or cart
- Number of visitors signing up to a newsletter
- Number of visitors sharing your content via email and social media
How do I know if my conversion rate is reasonable?
Well, that’s hard to tell as average conversion rates differ per niche.
But in general, I’d say: the more niche you are, the higher the conversion rates.
Let’s say you have e-commerce store selling shoes and specialized in selling high heel stilettos.
As you may expect, the number of women (in most cases) explicitly looking to buy stilettos is much less than women search for new sneakers.
The number of visitors to your site is therefore much lower than let’s say a shoe shop selling all types of sneakers.
However, the visitors that do visit your store have been searching the net for e-shops selling stilettos and found your store.
Because your store specializes in stilettos, the chances of this individual purchasing is much higher.
Thus you should expect a higher conversion rate compared to a general sneaker e-commerce store, which is about 2%.
How to calculate a conversion rate?
Let’s say you have 1000 visitors and 10 sales your conversion rate is 1%.
All you need to do is divide the number of sales by the number of visitors.
How do I monitor my conversion rates?
I’m sure you’ve heard of Google. You may have even heard of their free analytics suite named very originally: Google Analytics.
Sign up for a free account and enter your details and follow the guides. If you get stuck along the way, check out this Google video out first.
Monitoring your conversions
So now you are monitoring your conversion rates it’s good practice to sit tight and wait for a month and let the data accumulate.
After that first month of you probably logging into Google analytics multiple times a day, it’s time for you to analyse the data.
First off start by analysing your sites’ average conversion rate. The average will be your benchmark, and usually, this will be the lowest conversion rate.
Why? Well, remember the stiletto example? The more specific a user is in his product search, the higher the conversion should be.
Sidestep: Understand the user first
Let’s say I’m looking for a new fancy pair of Nike Air sneakers.
What I generally do is search in Google, and as you may expect, the term “Nike Air sneakers” generates millions of results.
Because the results are not specific enough the search engine will dish up results such as Nike Air sneakers for women, kids and so on.
Because of this natural result, I start improving my search query by adding more keywords, in fact I’m filtering. In this case, I’ll add “men” to my search query.
Now, I’m getting slightly more specific but not specific enough because there are too many Nike Air models available.
This result gets me nowhere closer to the type of sneaker I’m looking for “Nike Air men Red colored sneakers”.
Because people are naturally lazy we always try to shorten our search query thinking the search engine will understand what we mean.
The results are disappointing so I’m going to search again specifically for Nike Air sneakers men Red.
As you can see, the number of search results has declined big time. We started with 215.000.000 results.
I then added “men” to the query, and it narrowed the results down to 115.000.000.
But funnily enough, adding “red” to the query gave us more results, 127.000.000.
Searching for something even more specific such as “yellow soles” will only have 45.800.000 results.
Now let’s assume your store is one of the top ranking results for this unreal query “Nike Air Sneakers Men Yellow Soles” chances are pretty high the people visiting your store are super enthusiastic and highly convertible.
The people who do click to your site are extremely happy you have the product they’re looking for. Because the product is extremely niche they know the price will be more expensive than a regular Nike Air shoe and that’s ok for most of them.
I hope this makes sense to you?
How to rank higher in search engines is a complete different hassle, and I won’t get into that in this post. But the example above actually describes how being more specific with the product descriptions can generate a bunch of new clients without spending an extra nickel on marketing.
You will improve also your conversions big time as soon as your descriptions beat your search engine competitors.
New clients will find you and as their buying intention is higher than average you’ll reach the type of client you actually want to have visiting your store.
Now you know what conversion rates are and how you can monitor them it’s time to get what you came for: Conversion Rate Optimization (CRO) tips.
Here’s what you can do without spending an extra nickel:
- Quality product descriptions
As mentioned above, make sure your product descriptions are specific enough for someone looking for “shoes with yellow soles.”
- High-quality images
Especially when you’re selling products such as apparel. Your visitors want to view the enlarged product image.If they’re interested to see the stitching, the image needs to be crystal clear.
Quality images also boost trust because bad low-res pictures make your complete store look shabby and untidy. You wouldn’t want a perfect consumer to leave your store because of an image.
- Optimize your checkout process
While many e-commerce beginners choose to use a free e-commerce store such as Wix you’re limited to improve the checkout process.It is what it is. But if you use a decent e-commerce CMS such as Magento, Woocommerce and BigCommerce, you can design the checkout templates. Because I’m a WordPress expert I know WooCommerce can be optimized the way you want to design your checkout pages.If you’re building an e-commerce store, I would like to suggest one of the best and most popular page builders for WordPress – Elementor. This site, although not a page builder got built with Elementor. Oh, in case you wonder – I’m in no way affiliated with Elementor. I’ve built several WooCommerce stores with Elementor Pro, and it’s just great. Simplifying the checkout pages will improve conversions because fewer people will leave without checking out.If you use WooCommerce for your store, there are a new service name CartFlows which specializes in conversion optimizations. Check them out here.
- Customer service
Many clients need help but because they think sending an email will take days for you to reply they don’t send an email. How many times have you been wanting to wait for someone to pick up the phone? Most stores have a phone number you can call but if you have to wait more than 3 minutes people tend to hang up. In the end this results in your high potential clients leaving your store. My advice is to add live chat as a service. Nothing extremely innovative about live chat but it offers the client a sense of trust. If clients trust you, they will purchase even if your price is slightly higher than the competitors.But do make sure you have a representative online and ready to answer any questions your clients may have.
- Discount days
We all like a good discount when we see one. To prove how much we’re in love with discounts are the famous cyber Mondays, black Fridays and so on. Shops have claimed days equivalent to the memorable days mentioned above. Alibaba introduced ‘Alibaba singles day.’ Amazon and their ‘Amazon Prime Day‘ is a big hit as well.
So what’s stopping you from building customer loyalty and boosting your conversions by introducing some random day of the year as your special discount day?
Let’s say you close your eyes select a date from the calendar hanging on your wall and go for it. There’s absolutely nothing stopping you from creating your unique discount day.If you stay in touch with your clients and your clients stay engaged with your business, there are plenty of ways to promote this special occasion.
You can add banners on your site, send newsletters, promote the day with your social followers and last but not least instruct your customer service people to actively remind people about this special day.The best part is that it won’t cost you an extra nickel to promote your discount day.
Because you’re organising a discount day, you can also contact your suppliers and let them know your intentions.
Ask them if they want to join in by offering you discounted prices or maybe even a higher percentage of sales.
They may even ask you to push some of their older models for a reasonable price.
Can you imagine yourself creating such a day and the opportunities this will offer?
Can you also imagine if the deals are super, your sales conversion will skyrocket? And do you believe this special day will attract new clients with their credit cards ready?
I’m sure – so why not take a random day and claim it.
Be smart and ask people to already sign up for next years grand discount day.
Boost the newsletter signups by offering something such as an exclusive entry 24-hours before the non-subscribers can grab the discounts.
For most e-tailers, all I’ve mentioned above will not cost you one extra nickel on ad spend. You’ll be investing in your current visitors, and for sure you’ll attract new potential clients because good news travels fast.
I hope these five tips on how you can improve your conversion rate overnight will help you improve revenues and have a healthier work-life balance.
If you have any questions please remark below or you can hit me up by contacting me directly