Are you driving a lot of traffic to your online store but seeing little to no sales? Or you’re doing well, but you’d like to try and squeeze out a few more sales out of your existing traffic?
What you need to do is focus on optimizing your online store for conversions and improve your conversion rate. We’ll show you five ways you can increase your ecommerce conversion rate and generate more sales for your ecommerce brand this year.
According to research, 50% of online shoppers will abandon their shopping cart if the website they’re shopping on doesn’t allow them to check out using their preferred payment method. This makes it essential for ecommerce businesses to try to offer more payment options and make the shopping experience more convenient for their customers.
It’s estimated that 55% of all ecommerce transactions will be completed using digital wallets as of 2019. Along with PayPal, digital wallets such as Apple Pay and Amazon Pay have also been gaining popularity over the last few years.
Let’s look at how these digital wallets can help you improve your conversion rate and get more sales.
A comScore study from 2018 found out that PayPal has an 82% higher conversion rate than other payment methods (including both credit card payments and digital wallets).
Furthermore, if you use PayPal Express Checkout, you will minimize the amount of details a customer needs to type in when buying from your website, allowing for a quicker and easier checkout.
PayPal uses shipping and billing information from the customer’s PayPal account to fill in the details on your website. This saves customers from having to manually type in all of their information every time they want to buy something!
It’s been shown that websites that use PayPal Express Checkout have a 47% higher conversion rate compared to websites that don’t use it.
Apple Pay is another digital wallet that can help to improve your conversion rate by speeding up your checkout process. It allows customers that use iPhone or Mac devices to check out using the Touch ID fingerprint scanner.
Ecommerce businesses have experienced up to 60% decrease in checkout time when using Apple Pay. Using Apple Pay has also shown to increase desktop and mobile conversion rates by 15% and 20%, respectively.
Amazon Pay allows you to simplify the checkout process for the 310 million active Amazon customers. It uses data from customers’ Amazon accounts to pre-fill their billing and shipping details. Associating your business with Amazon by using Amazon Pay might also make shoppers feel more confident about spending money on your website.
The checkout process is where you can make the most significant impact on your conversion rate. We’re going to show you three ways that you can improve your checkout process and convert more visitors into sales.
37% of online shoppers abandon checkout if they can’t complete their purchase without creating an account. To convert more of these shoppers, enable guest checkout on your website.
28% of online shoppers state that a complicated or lengthy checkout process is their primary reason for not completing a purchase. To simplify your checkout process, reduce the number of fields that your customers need to fill before completing their purchase.
One unnecessary field that we frequently see during checkout on various websites is the salutation field. You can safely remove this, as well as any other field that isn’t essential to processing customers’ orders.
An easy way to reduce the number of shoppers leaving your checkout page is to make it hard for them to do so! Amazon does this quite well by removing navigational links from their checkout - almost forcing customers to stay and continue the check out with no distractions.
69.89% of all online shopping carts are abandoned during checkout. Shoppers cite many different reasons for abandoning shopping carts, including unexpected costs, trust issues, website errors, and slow delivery.
Abandoned cart emails are a great way to get some of these shoppers back to your website. Studies show that 10.7% of abandoned cart emails result in a sale. The most effective abandoned cart email campaigns are those that use a sequence of three or more emails, driving 69% more orders than single-email campaigns.
Shoppers cite lack of trust as one of the main reasons they don’t complete a purchase on an unknown website. Lack of trust causes ecommerce businesses to lose $1.9 billion in sales every year.
You can use trust signals to help your customers feel more confident about purchasing from your website. Let’s look at some of the most common types of trust signals that you can add to your ecommerce website.
A money-back guarantee is a great way to increase shoppers’ trust in your business. Other types of guarantees that might influence shoppers include your refund or return policies, payment processor logos (e.g., Visa or MasterCard), and the popular PayPal logo.
Testimonials, product reviews, and social media likes and shares are all examples of social proof. These types of trust signals can be highly effective in making shoppers decide to buy from your business.
Out of all the different types of social proof signals, the most important are product reviews. As much as 88% of shoppers state that they read online reviews before buying a product.
Another way to gain your customers’ trust is to associate your business with another reputable company. Think about the businesses you’ve cooperated with in the past. Has a TV network, website, or a newspaper featured you in their stories? Do you sell products from reputable, high-quality brands?
Let your customers know about this by displaying logos of your partners on your website.
Is your business a member of a reputable organization such as the Better Business Bureau? Show off your membership proudly by placing their logo on your website and make your customers feel safer in the process.
In 2017, 34.5% of all online shopping was done using mobile devices. It’s essential that you optimize your website for mobile devices to convert as many mobile users as possible.
Test your website using different smartphones and tablets and make sure that it works properly. Visit different pages of your website and perform a test checkout. If you encounter any issues, you might want to consider hiring a professional to optimize your store for mobile devices.
Conversion rate optimization is an important aspect of every ecommerce business. If you want your revenue to grow, you’ll need to spend a decent amount of your time optimizing your online store for conversions.
Look into offering additional payment methods such as Amazon Pay or Apple Pay to allow your customers to use their preferred payment option. Take the time to speed up and simplify your checkout process. Enable guest checkout on your website to allow impatient shoppers to complete their purchases quicker.
If you’re not already sending out abandoned cart emails to your customers, start doing so. Test different email variations to find the one which converts the best. Pick out a few relevant trust signals and add them to your website to help customers feel more secure about purchasing from your business.
Finally, make sure that your website is optimized for mobile devices to accommodate shoppers accessing your website from their smartphone or tablet.
Are you looking for more ways to increase ecommerce sales and revenue? Get in touch with our digital marketing experts and we'll help make 2019 the best year for your online business!