In order to be successful, the eCommerce business has to develop an effective conversion strategy. And, while many assume these tactics are highly expensive, the truth is that they don’t have to break the budget if you apply a few crucial changes to your marketing campaign.
Have clear calls to actionOnline experience can sometimes be very dissatisfying, especially if customers feel like they are stuck in an endless cycle of filling out numerous forms. With so many requirements such as creating an account, entering shipping information, entering credit card information, and so on, Internet consumers can quickly get exhausted and give up on the purchase.
To avoid this eCommerce disaster, be sure you have a clear call to action. Insound managed to correct the mistake by swapping “continue” for “review order” which immediately increased their conversion by 8%. So, keep the checkout procedure simple and assure customers have their eyes on the prize the whole time.
Create a sense of urgencyOn average, eCommerce conversion rates are 1%-2%. Although it’s good to convert even 1% of website guests, it’s better to focus on more sales and higher rates. The best way to do so is to organize an impulse sale that will turn potential leads into consumers.
An impulse purchase is an unplanned decision triggered by emotions when seeing a promotional product. It’s all about creating the sense of urgency such as the one people get during Black Friday. Having said that, the products on the site don’t really give the “buy now” impression as the customer can return at any time to buy the product at the same price.
The goal is to make visitors fear that they are missing the good offer. Fear is a powerful purchase motivator and a great conversion tool. So, here are some ideas to help you introduce product pages as “must have” items:
- Limited Time Offers – Limited time discount deals that highlight the amount of money visitors will save for a purchase is a great option for engaging consumers to order.
- Low Stock Indicator – Nothing inspires the fear of losing the product as much as knowing that it will soon run out of stock. This will give consumers a sense that they are making the right purchasing decision.
Display trust elementsCustomers want a personalized experience and deals for the products they are interested in. Otherwise, they will go to a competitor to find a better offer. For this purpose, many eCommerce websites include a box for entering promotional codes.
However, sometimes these codes don’t work which increases the chances of the customer leaving the site entirely due to the lack of trust. To make matters worse, eCommerce businesses often don’t count on people changing their opinion. But how to prevent gaining a negative reputation when customers want a refund?
And since we talk about legal stuff, refund policy is just as important as everything else mentioned so far. Not having a refund policy, or having an overly restrictive refund policy will result in users having doubts about their purchase, and as the end results you will lose money. Don't be affraid to offer refunds as it will make you more money in the long run.
Offer free shippingThe number one reason for abandonment during eCommerce checkouts are high shipping fees. Many times, visitors get excited about the product but, when they see the shipping price, they immediately get discouraged. Hence, the solution is to offer free shipping or reduced shipping costs for some products and watch how the conversion rates grow.
In 2011, Sheplers conducted a case study to determine whether free shipping influences conversion. As they reduced or eradicated the costs of shipping, the test results showed an overall 20% increase in conversions as well as a 48% rise in the number of new customers.
Governed by this example, you can take a look at abandoned shopping carts to analyze if lowering the shipping fees is what holds your business down.
Give bonus items or loyalty discountsLoyalty programs are powerful marketing strategies designed to motivate customers to continue their shopping relationship with a business. Offering free goods, discounts, and special deals show the customers that they are valued and appreciated.
The “buy one get one free” initiative is a verified method of encouraging short-term repeat sales. But it’s not recommended to abuse this strategy because people can start to question the product’s quality.
On the other hand, loyalty card schemes never seem to fail. Recognizing and rewarding the best and most loyal customers nourishes business reputation and builds customer-brand relationships. As the clients continue to recommend the eCommerce site due to their satisfaction, the conversion rates will experience steady progress. At the end, there is no better marketing than a worldwide customer endorsement.
SummaryThe path to higher conversions doesn’t have to be expensive or complicated. It all comes down to the customer’s needs and desires and all they want is a quality and affordable, yet proficient service. The way you present your offerings matters, especially in these modern times, with a high percentage of cyber crimes.