The trend of e-commerce business is increasing as consumers have started to prefer online stores over brick and mortar stores. To get good sales e-commerce needs to focus on conversion rate optimization. Attracting visitors is important but if the business is unable to convince any of them to explore further and invest in what you have to offer then you will have no sales and hence no profit.
Every time the e-commerce website gets a visitor there is an opportunity to improve the conversion rate by convincing the visitor to buy what you are selling. It is important for e-commerce to keep a close eye on customer behavior so that you can create a marketing campaign or strategy that will help in converting visitors into buyers.
An e-commerce company needs to constantly improve and upgrade their marketing strategies so that it can improve conversion rates. Here are some crucial dos and don’ts of optimizing the conversion rate.
Do’s:
1. Using the latest technology:
Technology has made it easier for businesses to optimize their conversion rate. The technologies available in digital marketing are effective in boosting the conversion rate. To beat the competition you should make sure that you use the latest tools as they are up-to-date and designed to cope with marketing challenges.
2. Have a scientific approach:
Improving the conversion rate requires proper and careful planning. It does not happen overnight. The best approach to the optimization conversion rate is to treat it as a scientific problem. You need to become the lead scientist for your e-commerce site. You need to brainstorm and shortlist different methods and test them to see which approach works better before making it a part of the marketing strategy. Try creating an experiment so that you can test different versions of popups and pages.
3. Measuring results:
If you want to know whether your strategies to optimize conversion rates are working or not you will have to measure results. Thanks to the evolving technology there are a lot of great and affordable tools available that can help you in measuring results. Google Analytics has a number of tools that can track the performance of the website and its conversion rate. You should also consider using Unbounce or Optimizely. These tools capture data and review it so that you are aware of how the website is doing. Measuring performance is also helpful in improving strategy and yielding better results.
4. Use exit-intent technology:
Using exit-intent technology is smart because it offers a second chance to convert visitors. It convinces visitors to invest just before they leave the website. The technology offers an incentive in the form of a well-timed and carefully crafted message. It is effective in boosting the conversion rate significantly.
5. Collect data:
Data is important for making an informed decision regarding marketing strategies you are using. It is not possible to make the best decisions with incomplete data. Make sure that you have adequate data so that you know whether the strategies you are applying are working or not. There are testing tools that can help with collecting data. You should set up the code across the website so that you are able to collect as much data as you can.
Don’ts:
1. Not using paid traffic in the beginning:
Attracting traffic is not an easy task as there is too much competition. There are thousands of e-commerce sites vying for customer's attention so it is not a good idea to just sit and wait for the potential customers to notice the website and explore because it will not bring any success. Do not be afraid to use paid traffic in the beginning because it will give the website the boost it needs to get started.
2. Going for drastic changes:
Everyone wishes to quickly increase the conversion rate but it is not something that happens overnight. Patience is the key to success. Conversion optimization is a science and it needs to be approached scientifically. Taking shortcuts by making drastic changes is not going to yield better results. If your approach is too aggressive then it may end up decreasing the conversion rate instead of giving it a boost. Incremental improvements are always more effective and long-lasting.
3. Making rash decisions:
Connecting with the customers and earning their trust is paramount for the success of any business. E-commerce businesses need to focus on connecting as they do not have the luxury of having salespeople guide customers around the store. Making quick and rash decisions are not good for business as it leads to missing sales opportunities as you will fail to connect with the consumer. Consider changing one variable at a time instead of changing everything. You also need to have enough data so that you have all the facts you need to make a good decision.
4. Ignoring instincts:
Ecommerce trends are changing all the as websites are always looking for ways to get ahead of the competition and make a mark on the industry. Some trends work and stick around and the ones that are not effective disappear after a while. Whether a certain trend works for your business or not depends on a variety of aspects like type of the company and products it is selling. Instinct is important as it lets you know if you are investing your time and money in the right thing. You understand the core and basic metrics of your business better than anyone else which means your instincts are based on facts collected from the data and it is not wise to ignore them.
5. Not tracking business metrics:
When you are looking to optimize the conversion rate of the business you should never forget your business metrics. Sales and profits are building blocks of any business and you should keep them in mind. Tracking the metrics is helpful in boosting the conversion rate.
Conclusion:
Optimizing conversion rate requires an open mind as you will need to think out of the box and test different things before you can find something that works. Make sure you keep up with the latest tools and collect as much data as you can.