The average eCommerce conversion rate is 2.58% globally. While eCommerce conversion rates depend on the product type, price, and popularity, the overall global rate is low.
But, why is this? What is causing conversion rates to drop all over the world?
Well, consumers have shifted their wants and needs over time. While they’ve been transforming what they want to see from companies, companies haven’t changed much. They’re still using the same, old tactics.
So, if you want to better your eCommerce funnel and improve your conversion rate, you need to keep up with today’s consumers. Keep reading to learn how.
1. Trace the Customer Journey
In order to reach the customers that you’re going to sell to, you need to understand your customers’ journeys. Sometimes, this means that you need to map out the customer journey roadmap that matches your target audience.
The modern customer journey has five stages:
These steps translate to the following steps:
- The customer must hear about your business from somewhere (i.e., social media, a friend, an advertisement, etc.)
- The customer must be able to search for you and/or your products/services
- The customer should be able to conduct research through reading blog posts and reading reviews
- The customer then purchases a product/service online or in-store
- The customer can then share their experience with the product with others through social media, word of mouth, blog posts, and more
All of this tells us that you must be able to find the customers if they’re going to make a purchase. This means that you have to target your advertisement campaigns to your target audience. And, you should have advertisements that entice your target customers to click and read more.
By using this method, you’re on your way to doubling your conversions.
2. Give Offer Selection Pages With Choices
Companies that offer choices are more likely to convert their leads into customers. If you have one price, visitors may not feel like they’re getting a deal. But, if you present multiple options, you’re showing consumers that they are saving money by splurging on higher tiers.
Plus, your potential customers will feel like they have more control over the things that they’re spending their money on. Therefore, customers can choose smaller packages, get what they need, and still be supporting your business.
With this said, it’s also important to show your potential customers what each tier gets them. There is no room for being vague. If you aren’t clear with the expectations for each tier, it may seem like you’re not being transparent with your customers.
So, you should lay out the features and specialties of each tier in detail.
And, you may want to offer a trial period for the most popular tier so that potential customers can get an idea of what they’re signing up for. The better prepared you help your customers become, the better they’ll be able to determine which tier is best for them.
Plus, your company will seem more trustworthy because you’re being upfront about what you offer for each payment tier. It’s a win-win.
3. Optimize Your Website in Every Corner
You need to optimize every page of your website. With this, you should focus on the main page, website forms, and checkout pages.
The better optimized these web pages are, the easier potential customers can find your products/services. This means that you’ll have the opportunity to make more sales.
Unfortunately, eCommerce SEO is not easy. It becomes even more complicated when you start trying to optimize every single product page that you have on your website. The more product pages you have, the more complicated the SEO.
And, yes, it is important to optimize these pages as well. Each product page matters.
If you can get your product page to appear on a search engine results page, you’re going to increase the demand for that item. That means more sales and more income.
It may seem like a hassle now, but the work that you put into each and every page on your website will show in the long run. Trust us: each and every keyword will make a difference.
4. Boost Your Mobile Experience
The mobile experience is more important than ever. In fact, 62% of people surf the Internet on their mobile phones. Even more, people use their phones to access social media, where they can see your posts and advertisements
This behavior tells us two things about today’s consumers:
- They want the web pages that they’re visiting to be accessible online
- They want these pages to load quickly
So, this means that you need to optimize your website’s mobile experience and improve page loading times across your website. Without these two crucial elements, you’re going to be losing customers left and right.
No one wants to wait ten minutes for one page to load. They’re more likely to click off before the content even pops up.
And, if the website isn’t working on their phone. They’re not likely to take the time to search for your company on their computer.
It’s all about making the searching and shopping experience more accessible for customers. You want to do all that you can to make your customer’s experience with your company easy. This includes bringing content to them in the ways that they prefer.
Besides, making your website mobile-friendly is a small price to pay for reaching the majority of customers these days. No matter what your target audience is, you aren’t going to lose anything by taking these extra steps.
5. Use Successful Landing Page Templates
If your website wasn’t created by an eCommerce expert, your landing page isn’t likely to convert customers correctly. This could be taking business away from your company by putting potential customers off of your products/services.
If you’re looking to convert more leads, you need a landing page that is successful. The best way to do that is by following one of our proven landing page templates. We have a variety of options for you to choose from in a variety of eCommerce subjects.
By using our templates, you’re bound to have more eyes looking and more mouses clicking right through to your checkout page.
The landing page is the key web page that transfers your leads from potential customers into actual customers. So, you need to put all of your heart and soul into it.
Simple changes in your landing page can make a big difference in whether or not consumers turn into loyal customers. And, the elements on your landing page are the most important.
You won’t regret taking the time to improve and elevate your landing page. And, you’re likely to see the return on your time investment soon after you make the necessary improvements.
6. Don’t Forget About KPIs
Here we are at our last step. After all of the steps above, you’re ready to launch a new eCommerce website that is bound to earn more than you ever thought possible.
But, the work doesn’t stop there. If you want to keep growing your company, you need to make sure that you’re continually giving your customers what they want. And, those wants can change sometimes.
So, you need to keep testing out new strategies. See which product pictures your customers like better. Try different ad placements.
The more testing you do, the more you’ll come to understand your customers and their habits.
The KPIs to Keep Your Eyes On
And, with this, you should make sure that you’re keeping an eye on your KPIs (Key Performance Indicators). There are plenty that you should keep your eye on, but we’ve listed our top 20 KPIs that you should focus on.
We know that 20 is a big number when it comes to tracking data, but the value from these 20 indicators will keep you focused on your eCommerce business’ growth and success.
Here they are:
- Conversion Rate
- Customer Lifetime Value
- Customer Retention Rate
- Annual Repurchase Rate
- Average Order Value
- Net Profit
- Cart Abandonment Rate
- Add to Cart Rate
- Orders Per Active Customers
- Return on Investment
- Influencer Return on Investment
- Return on Ad Spend
- Cost per Acquisition
- Customer Acquisition Cost
- Average Profit per Customer
- Revenue per Site Visitor
- Time on Site
- Bounce Rate
- Organic Search Rankings
- Customer Satisfaction
Understanding where your eCommerce business lies with all of these KPIs can help you make better business decisions when it comes to your customers and their wants and needs.
Wow! That was a lot, but we got through it. You are now an expert on how to create a more effective and more efficient eCommerce funnel.
Gregory Silvano is the founder and CEO of the Mojo eCommerce platform boasting the highest conversion rates in the industry. When not dreaming up new ways to improve conversion rates, Greg is probably reading yet another marketing book.