The ecommerce conversion rate is very important for those who want to develop their online business.
This article will explain to you what conversion rates such as the email marketing conversion rate can tell you about your ecommerce.
You will also discover some ecommerce conversion rate hacks for better profit and success.
What Is a Conversion Rate?
Your conversion rate refers to how many people who visited your website completed the action you wanted them to make. It is calculated as a percentage. For ecommerce, it typically tracks how many people completed a purchase.
To compute the conversion rate, divide the number of website visitors who made a purchase by the total number of visitors. Your ecommerce conversion rate can also track how many people signed up for your newsletter and loyalty program or any other relevant figure.
How Does the Conversion Rate Affect Sales
The connection between conversion rate and ecommerce sales is fairly straightforward. The higher your conversion rate, the more sales income you are likely to have. This is especially true in the case of conversion rates tracking how many website visitors made a purchase.
The important caveat, however, is that the conversion rate doesn’t track how much each sale is. This means that while a higher conversion rate typically correlates with higher overall sales, it is not always the case.
After all, 100 website visitors, each with a $1 purchase, will deliver lower total sales than two visitors who each bought $100 worth of products. In this case, you have fewer sales transactions but higher profits.
Even with that possibility, it is crucial to work on boosting your conversion rate. This is because situations like the example above are rare. Most of the time, an increase in conversion rate will lead to an increase in total sales.
Exploring Ecommerce Conversion Hacks
There are numerous ecommerce conversion hacks that can help you boost your conversion rate and, therefore, your sales. The following are just some of the most popular strategies to incorporate:
- Take advantage of email marketing
- Make sure your website loads quickly
- Ensure mobile compatibility with a responsive website
- Confirm your website is easy to navigate
- Streamline the checkout process
- Accept more than one payment option
- Highlight your guarantee or simple return policy
- Offer free shipping, at least at a certain price point
- Provide limited-time value with offers
- Offer down-sells, upsells, and cross-sells
- Use conversion rate optimization (CRO) together with SEO
- Create engaging website copy that converts
- Include social proof on your website and social media pages
- Create a clear CTA
A Closer Look at Email Marketing for Conversion
The above list of ecommerce conversion hacks focuses on fairly general suggestions. For example, ensuring your website loads quickly can include specific actions like shrinking image size and testing the speed regularly.
Because of the importance and potential impact of email marketing, it is worth taking a closer look at the ecommerce conversion hacks that take advantage of this strategy.
Email About Abandoned Carts
One of the biggest opportunities for email marketing among ecommerce conversion hacks is to email potential customers who have abandoned their carts.
Ideally, you will send the email within a few hours after the shopper abandons the cart. At this stage, the customer hopefully hasn’t ordered a similar product from a competitor yet.
To make the strategy even more effective, consider adding a discount code in the email.
Segment Your Email Lists
As you organize your email list, make sure to segment it. This will allow you to send customers better-targeted emails and boost your conversions.
A simple option for segmenting customers is based on whether they have made a purchase in the past. If you have a vast inventory, you can also segment them based on the types of products they are interested in.
Personalize the Emails
Segmenting your audience puts you a step closer to personalizing emails, but it is not enough. Use personalization tokens or a similar strategy to add the recipient’s name to the email.
You can also personalize emails to mention past purchases. This will improve the experience people have with your emails, likely boosting your conversion rate.
Create Useful, Interesting Emails
You want subscribers to keep opening your emails, even if they don’t convert right away. This will help keep your brand at the forefront of their mind, increasing the chances of a sale in the future.
The best way to ensure they open your emails is to create engaging content. Figure out what your audience wants from emails and provide that. As a bonus, if people find your emails interesting, they are less likely to unsubscribe.
Try A/B Testing
A/B testing is a highly effective way of creating an email that has the highest chance of conversion.
Use it to test minor changes between email formats or phrasing to find out what your customers prefer. Then go with the version that leads to more conversions.
If you want to learn more about this topic, feel free to discover a less conventional but highly effective strategy by listening to our podcast on direct email with Arian Radmand :
You can also discover these articles on the subject:
eCommerce Conversion: Definition and Advice
14 eCommerce Conversion Hacks For Better Profit
What You Need to Know About Your Cold Email Conversion Rate
Understanding Average Upsell Conversion Rates and Tips