How to Increase Conversion Rate of Ecommerce Platforms?

How to increase conversion rate of eCommerce business? This is the most common question asked by individuals running an online business. The answer to it is optimization. An optimized website is integral to generating more sales.

Every visitor who leaves your website without purchasing something is a missed opportunity, regardless of how you drive people to your online store.

Your shopping cart conversion rate is what you do to increase the number of items purchased from your site. Conversion rates for e-commerce are based on how many visitors perform the desired action on your site. The event, usually a sale, can also involve adding an item to a Wishlist, to a shopping cart, or to a newsletter list.

We’re going to show you 10 ways to increase the conversion rate of e-commerce. Before we discuss these strategies and tips, we must understand their reasons. You might want to consider why a visitor can leave your eCommerce site empty-handed, especially if there is a discount in place.

You can improve your eCommerce conversion rate in 2022 by following these steps.

7 Ways on How to Increase Conversion Rate of Ecommerce Platform

We have discussed these tips in in-depth to answer your how to increase eCommerce conversion rate:

1. Provide unbiased and accurate information

Simplicity is inherently appealing to humans. Website visitors get unbiased information from high-converting eCommerce websites, which helps retain their trust. Customers trust websites that convert well. According to a recent study, 81% of consumers avoid buying from untrustworthy brands. Almost all eCommerce websites use this principle to increase their conversion rates.

What makes it work?

• Customer-friendly, clutter-free, and distraction-free websites are highly favored.
• Transparent and honest businesses earn the trust of their customers.
• When shoppers know they can find answers to their questions, they shop with confidence.
• Approximately 84% of consumers expect brands to publish helpful articles.

Here is a brief guide on how to apply it

• Be sure to provide your potential buyers with accurate and unbiased information.
• If someone should not use your product, the best policy is, to be honest about it.
• Ensure your content creates the impression that you’re helping your audience solve their problems.
• Websites should convey a message that is simple, straightforward, and clear.

2. Put first things first

A brand gets more positive responses from customers who feel indebted to it. Receiving always creates a feeling of indebtedness, making it easier to give after receiving. Smart brands utilize this principle to give their prospects a sense of owedness, making them more likely to begin a sales discussion.

In order to attract potential buyers, most eCommerce websites offer a valuable offer before selling to them. These offers can be in the form of a discount or free ebook. When a heavy discount is offered, 29% of online shoppers will make an additional purchase they did not intend to make. Increasing conversions is achieved through reciprocity.

What makes it work?

• In order to create meaningful relationships between brands and their customers, gifts can help them connect emotionally.
• Coupon codes are used by 88% of Americans. According to Statista, there will be 145.3 million users in 2021.
• Heavy discounts may influence shoppers to make purchases they did not intend to make.
• The average order value of retailers with coupons on their eCommerce stores has increased by 26%.
• Online shopping is more likely to be undertaken by 79% of US consumers who receive free shipping.

Here is a brief guide on how to apply it

• Offer coupons and discounts to buyers.
• Provide free shipping.
• Free offers will help you collect contact information.
• Provide free consultations.
• Provide free samples or trials of your product.
• Send a free catalog of your products
• Provide free ebooks, PDFs, guides, or other useful information

3. Do not be afraid to ask for help in return (Benjamin Franklin effect)

Retailers are most likely to boost their goodwill by doing something for their customers. Requesting favors can also boost their goodwill. This is the Benjamin Franklin effect. Based on the idea of Benjamin Franklin, this theory holds that if someone offers you help and you accept, then they’ll be more likely to do more favors for you.

Retailers refer to these as micro conversions in the world of eCommerce. By doing this, you can build your relationship with customers by requesting small favors and then requesting bigger ones in the future. There are many companies that use this strategy successfully. Lay’s Do Us a Flavor campaign, a famous campaign that used this strategy, generated a 12% sales increase.

What makes it works?

• Justification and cognitive dissonance are two important considerations for humans
• Most of the time, people whom we do favors for have a positive opinion of us

Here is a brief guide on how to apply it

• In the beginning, it would be best to request simple favors. Using automation tools, this process can be streamlined by requesting favors at a variety of touchpoints. As an example, a pop-up window encouraging email registration could be used or a confirmation email for product delivery could be automated.
• Whenever your customers have completed an act of kindness for you, thank them. By doing so, you reinforce the positive aspect of their evaluation. Upon registering with your website or completing an order, you can send a customer a thank you email.
• Create a rapport with them and use their earlier favors to have them do more and larger favors in the future. You should continue to add incentives at the appropriate time to avoid one-sidedness.

4. Create a method for consuming information that is intuitive and easy (Cognitive Ease)

Fluency of cognitive ability facilitates the understanding of information. Successful communication requires this ability. If one must exert a lot of effort in order to understand information, act on it, or both, it decreases the likelihood that they will act.

Successful eCommerce brands recognize the importance of this. Such brands present information in a way that makes it accessible and actionable. Their website is mobile-friendly, they have short signup forms, and their checkout is easy. Mobile-friendliness has a huge impact on increasing conversion rates in eCommerce. The number of visitors and sales to an eCommerce site is over 60% from mobile devices.

What makes it works?

Conversion is influenced by cognitive ease.

• In the absence of an obvious message, consumers will rarely act.
• Engaging websites with visually appealing images and attractive layouts receive high levels of traffic.
• eCommerce sales and traffic are driven by mobile devices.
• Forms with fewer fields convert more effectively. It has been found that removing a field from the form can boost conversions by 26%.
• The conversion rate of shopping carts increases with an easy checkout process. According to research, 11% of customers will abandon their shopping cart when it is difficult to complete.

Here is a brief guide on how to apply it

• Be straightforward and clear in your website messages.
• You should use clear images and videos on your product pages.
• Optimize your website for mobile devices.
• Make form submissions, button clicks, and page navigation easy.

5. Provide compelling offers without being pushy

Ecommerce websites with high conversion rates adhere to this rule. Making the CTA buttons more prominent makes it easier for people to access them. Essentially, visual salience is the strength of perception that makes something stand out but is not so strong that it becomes obnoxious or offensive. Visuals are very vital to increase conversion rate of ecommerce stores. A successful brand makes its offers accessible, unobtrusive, and visually appealing.

What makes it work?

On their websites, successful brands use this technique to increase conversion rate on ecommerce. This is how it works:

• 23% of buyers abandon their carts if they have to create an account to check out. Guest checkout helps reduce this.
• It is easy to notice CTA buttons and offers visual salience.
• Buyers have options with product recommendations.

Here is a brief guide on how to apply it

• Guests are welcome to checkout.
• Give the buyer the option of comparing cheaper or more expensive products.
• Product bundles are a good idea
• Your website needs to stand out visually using visual salience.

6. Create a welcoming environment for visitors

We have heard good user experience is your key to increase conversion rate on ecommerce. But you should know creating a positive shopping experience makes online buyers feel at home. If the experience is bad, they might not return. According to 74% of senior business executives, the quality of the customer experience impacts customer loyalty and advocacy.

A successful eCommerce brand creates a pleasant experience and makes buyers feel welcome. The company offers strong customer service, sends real-time notifications, and provides a personalized experience. Experiences customers have during the buying journey are referred to as customer experience.

What makes it work?

The basis of this principle is as follows.

• Positive experiences influence return visits.
• When brands offer responsive customer service, buyers are more relaxed.
• Shoppers can use mobile apps to make their online shopping more convenient.
• Updates and coupons can be sent in real-time to customers using push notifications.
• Compared to email and social media, live chat is preferred by 42% of customers.

Here is a brief guide on how to apply it

You can improve customer experience with this guide.

• Provide live chat support and telephone support.
• You can serve personalized web content according to a visitor’s location if you serve multiple locations.
• Develop a push notification system and email system. Utilize them to notify your customers of price reductions and the availability of products.
• Your store should develop mobile applications.

7. Smartly price your products

Prices go up, so demand goes down. It’s that simple. Unfortunately, this is not always true for savvy brands. Decoys are used to manipulate consumers into choosing a more expensive package or encourage them to make a purchase. In other words, the decoy effect.

Subscription-based businesses are more likely to experience this effect as their pricing packages differ. These companies use intelligent pricing (decoys) to entice the consumer into choosing a predetermined package, these companies use intelligent pricing (decoys). Successful companies have used this approach to boost sales. By utilizing product bundles, point systems, and different pricing options, along with a variety of other methods, they are able to increase the efficiency of their Ecommerce optimization.  

What makes it work?

If a certain price package offers greater value to them than the others, online shoppers will take the bait. Here are some reasons it works:

• Loyalty programs and rewards are effective. They keep customers loyal to the brand.
• By nurturing new customers into loyal ones, you can increase their purchases by 67%.
• Bundling can lead to purchases of more goods than buyers intended.

Here is a brief guide on how to apply it

You can use the decoy effect in a few easy steps.

• Make it easy for shoppers to choose between different packages and pricing options.
• Reward existing customers with points to encourage them to make more purchases.
• Price some of your products intelligently by organizing some of them into bundles.
• To encourage referrals and word-of-mouth, offer rewards programs to buyers.

What is the outcome?

How about following in the footsteps of these eCommerce websites that convert well? Make your eCommerce store a conversion machine by implementing these seven amazing tips. If applied in reality, these tips can help you understand how to increase conversion rate in sales at your Ecommerce store.

How to calculate conversion rate eCommerce?

Since you are familiar with multiple methods of how to increase add-to-cart rates or conversion rates at your Ecommerce store, therefore, you should now consider how you can evaluate whether your methods are working. By calculating your conversion rate, you can determine this quite easily. The following is a step-by-step guide.

• Find out how many people visit your website. Free and paid tools that can be used to collect this number are SimilarWeb, Alexa, Google Analytics.
• Calculate the number of conversions. You can essentially count conversions in a variety of ways, depending on your brand and the purpose of your company. Among other things, it could be the number of orders, forms sent in, contacts, or downloads.
• To calculate the conversion rate, use the following formula:

Conversion rate = The number of conversions/ The number of visitors * 100%

Use the answer to determine and increase conversion rate eCommerce.

What makes eCommerce shoppers fail to convert?

Consumers refrain from making purchases for a variety of reasons at a particular moment in time. Examples include:

• The first impression of your site is poor
• The buyer cannot be identified
• You are not optimizing your site
• Mobile users are not being taken into consideration by you
• Your product is not loved (or understood) by anyone
• There is no quality image of the product
• The Copy You’re Writing Is Not Persuasive
• There is a distraction on the page
• There Is No Clear Call to Action
• You and your customers don’t trust one another
• Shipping is an expensive endeavor for people
• There is a problem with checkout
• Exit Intent isn’t being used
• No remarketing or retargeting strategy exists

Understanding why you made a mistake and how to fix it will help you to increase conversion rate of eCommerce business. It also helps you anticipate mistakes to avoid making them in the future. Furthermore, this proves that you don’t necessarily have to fail just because you’ve made these mistakes.

Conclusion

Not to mention, every eCommerce company and every customer are unique. However, there are many reasons why your conversion rate might not be as high as you would like, or possibly to be, for any number of reasons.

Hopefully, the suggestions we have discussed throughout this article will help you begin to act in the right direction. You should always be striving to improve your website and your backend. You want to ensure constant contact with your team and your customers, both happy and dissatisfied with your services. The tips above apply to all e-commerce platforms whether you want to learn how to increase conversion rate on Shopify, Amazon, Walmart, eBay, or any other platform you have in mind.