Ecommerce Conversion Rates: 5 Quick Hacks to Boost Them Fast
Many factors go into the success of an ecommerce business. There’s the marketing department, the product range, the quality level, the customer service, and countless more things that must flourish to result in a thriving online store. But all of those things can amount to nothing if you can’t secure strong conversion rates.
While the journey to conversion optimization is long and complicated, the deciding factors often show up late in the game to turn leads into customers or lose them completely. Because of this, one of the best ways for an online seller to get business moving in the right direction is to find ways to do more with the leads they already have — to raise conversion rates.
And unless you’ve put a massive amount of optimization work into your sales process, it’s fairly likely that there are at least some small changes you could easily make that would lead to significant improvements. Here are 5 quick hacks you can use to perk up your conversion rates:
Increase Your Page Loading Speeds
We live in a world of instant gratification. Technology has made everyone accustomed to having whatever they want within seconds — literally. You can swipe right and get a date. You can order a taxi from an app. All within seconds.
People expect the same speed when they are shopping online. If your ecommerce site takes longer than two or three seconds to load, about 53% of potential customers will lose interest and go somewhere else.
The longer your website takes to load, the more money you are losing. A recent report stated that every second that an ecommerce site takes to load results in a 7% reduction in its conversions.
Here are a few tips you can use to fix this issue:
- Use a free tool like Google PageSpeed to test your site’s speed. It will identify shortcomings you can then directly address.
- Optimize your site’s images. High-quality images tend to slow down your website. Use a free tool like TinyPNG to compress your images without losing the quality.
Also, check your current hosting plan. Make sure you are on a plan that offers the kind of speed you need. The little extra you pay in hosting will pay for itself in increased conversion rates.
Build Trust With Your Website Visitors
Trust is a major component when it comes to selling online. This is especially true for ecommerce products where customers cannot actually touch the items they want to buy.
To overcome this barrier, you need to be able to build trust with your potential customers. There are several ways you can do this. Some of the most popular ways to build trust and increase conversion rates are:
Use social proof
Making good use of social proof is one of the fastest ways to establish credibility with potential customers on your ecommerce site.
People want to know that whatever they are buying is authentic and can be vouched for by others. That is why about 92% of people read online reviews and testimonials before purchasing a product.
Offer free shipping
Another way to quickly build trust with your website visitors and thus increase your ecommerce conversions is to offer free shipping.
For most ecommerce businesses, this is a norm already. So why swim against the current when you can ride the waves to increased conversions? If for some reason you can’t offer free shipping (perhaps because of your profit margins), look at the price point you will need to reach to make it a possibility.
Make your return policy and guarantee obvious
What return policy do you offer? What do you guarantee about your sales? Make sure make this information very clear so that potential customers can see it and take action.
Trust is the number one factor affecting online sales. As mentioned earlier, people don’t have access to touch your products before buying, so they’re likely to hesitate.
By making your return policy clear and explaining exactly what people can expect from your store service, you can lead people to be less hesitant. They will feel that they’re more likely to have a good experience, and know that they can easily return their purchase if dissatisfied.
Highlight trust badges
Trust badges are logos that let shoppers know that your website is safe and secure for them to enter their credit card information.
Given the dangers of data breaches resulting from poor ecommerce security, it is essential to let your website visitors know their details are safe.
These trust badges can help you to establish credibility and build trust, leaving those who see them more likely to convert.
Optimize Your Website For Mobile Devices
A mobile-responsive website will adapt to whatever type of screen the user is accessing it with. It doesn’t matter whether it’s a desktop screen, a laptop screen, or even a smartphone screen — the site will automatically resize as needed.
A mobile responsive ecommerce website will enhance your visitor’s user experience by looking better and reducing their need to resize, scroll, or pan when accessing your mobile site.
This isn’t something you can afford to ignore, because mobile ecommerce is on the rise. A recent report indicates that mobile shopping will account for 50% of the market share by 2020.
In addition to mobile ecommerce quickly becoming dominant, search engines have already shown that they prefer responsive sites. Google is now moving to mobile-first indexing, which means that mobile-optimized websites will achieve even better rankings.
Add Scarcity To Your Product Descriptions
A trick marketers have been using for decades to drive up sales is exploiting the fear of missing out (aka FOMO).
FOMO is a primal physiological trigger that causes us great distress and discomfort when we feel that we might be left out of experiences that others are enjoying. It used to keep tribes together, but today it’s more useful for increasing conversion rates.
Two great examples of how this can be implemented are:
1. Using limited time offers (AKA Flash sales):
2. Using limited stock offers:
In addition to using FOMO tactics, you should also ensure your product descriptions are short, catchy and benefit-driven. You can hire a copywriter on Upwork to help you craft compelling copy that will increase your ecommerce conversions.
Make Your Checkout Experience Seamless
Your ecommerce website’s checkout page can make or break your conversions. If the checkout page is too complicated, users will abandon their carts and go shopping elsewhere.
According to research back in 2016, an overly-complicated checkout process is one of the top reasons for cart abandonment.
So, how do you simply your checkout process to increase your store’s conversion rates?
- Offer a guest checkout option. Make it optional for your customers to create accounts before they can buy from your store. Doing this will dramatically increase your conversion rates.
- Accept multiple payment options. Not everyone will be comfortable giving out their credit card information — especially if your store is relatively new. To counter this, offer other payment options such as PayPal or Stripe.
- Reduce your form fields. Remember what we said about instant gratification? Nobody wants to fill endless forms just to buy a pair of sneakers. Only ask for the necessary information and nothing else.
Use these three simple yet practical tips to simplify your store’s checkout process, and you will be amazed at the results. But don’t stop there. Enhance your checkout with an optimization tool to start automating improvement.
In more cases than not, increasing an ecommerce store’s conversion rates isn’t as hard as it sounds. There are numerous tips and tricks you can use to achieve fast results, and we’ve looked at 5 you should start looking into right away.
Start with something simple such as optimizing your website for speed or building credibility with your visitors. You can usually do these things without making any major technical changes, particularly if the slow speed is the result of large images and poor hosting.
(One more site speed suggestion: if your current hosting is really unfit for purpose and can’t be improved, Exchange will help you find businesses for sale running on the Shopify platform — pick one up and rework it. It’s a strong CMS for speed, and it’ll save you time.)
After that, you can move on to more technical tactics such as making your website more mobile responsive, reducing your form fields, or adding multiple payment options. If you need assistance, ask for it — there’s no benefit in working solo.
Whatever order you work in, don’t go overboard trying to implement everything at once. Take it one step at a time, and you will slowly (but surely) begin to see your conversion rates increase.
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