Increase Conversion Rates for eCommerce

5 Proven (& Often Ignored) Tactics That Increase Conversion Rates for eCommerce

Obtaining eCommerce conversions is never easy. No matter how great your product is, there are various physical and psychological elements at play that drive a consumer’s retail decisions. Some of these roadblocks can be avoided with a few simple application tweaks, which we will outline in this article. We compiled this information from our own research and experience as a cloud-based content automation and optimisation platform, combined with data from Forrester Research. In this eBook, you will discover actionable, data-based strategies for avoiding common conversion rate killers, such as when a product is ‘out of stock’ and your mobile online application isn’t responsive. If you’re ready to boost your conversion rates and improve your shoppers’ experience, read on!

Outline – Conversion rates for eCommerce

Introduction

• • Importance of eCommerce conversions

• • Overview of the challenges

The Correlation Between Site Performance & Conversion Rates

• • Impact of site speed on conversions

• • Metrics that matter

Mobile Optimisation Matters

• • The rise of mobile eCommerce

• • Mobile conversion rate statistics

• • Key metrics for mobile optimisation

Out of Stock, Out of Mind

• • Impact of out-of-stock items on conversions

• • Strategies to mitigate out-of-stock issues

Free Shipping: A Consumer Imperative

• • The importance of free shipping

• • Consumer behaviour and shipping costs

Community Validation and Its Impact on Conversions

• • The role of customer reviews and ratings

• • Implementing community tools

The Importance of Application Responsiveness

• • User experience and application speed

• • Issues with mobile responsiveness

Implementing the Strategies

• • Step-by-step guide to optimising eCommerce conversions

• • Tools and resources

Case Studies

• • Real-world examples of successful implementation

• • Lessons learned

Expert Insights

• • Advice from industry professionals

• • Future trends in eCommerce optimisation

Conclusion

• • Summary of key points

Conversion Rate Optimisation (CRO)

Introduction

Obtaining eCommerce conversions is never easy. No matter how great your product is, there are various physical and psychological elements at play that drive a consumer’s retail decisions. Some of these roadblocks can be avoided with a few simple application tweaks, which we will outline in this article. We compiled this information from our own research and experience as a cloud-based content automation and optimisation platform, combined with data from Forrester Research. In this, you will discover actionable, data-based strategies for avoiding common conversion rate killers, such as when a product is ‘out of stock’ and your mobile online application isn’t responsive. If you’re ready to boost your conversion rates and improve your shoppers’ experience, read on!

The Correlation Between Site Performance & Conversion Rates

Impact of Site Speed on Conversion Rates

The performance of your eCommerce site significantly affects your conversion rates. Slow-loading pages frustrate users, leading to higher bounce rates and abandoned carts. Research by Akamai found that a 100-millisecond delay in load time can cause conversion rates to drop by 7%. Conversely, a site that loads quickly can enhance the user experience, encouraging visitors to stay longer and make purchases.

Metrics That Matter

Several key metrics can help you understand and improve your site performance:

• • Page Load Time: It takes a page to load fully.

• • Time to First Byte (TTFB): The time it takes for the server to respond to a user’s request.

• • First Contentful Paint (FCP): The time it takes for the first piece of content to appear on the screen.

• • Interaction Time: The time it takes for the page to become interactive.

Mobile Optimisation Matters

The Rise of Mobile eCommerce

With the proliferation of smartphones, mobile eCommerce has seen exponential growth. According to Forrester Research, mobile commerce is expected to grow by an average of 10% annually through 2025. Despite this growth, mobile conversion rates lag behind desktop rates.

Mobile Conversion Rate Statistics

The average desktop conversion rate stands at 2.7%, while the mobile conversion rate is significantly lower at around 1%. This disparity highlights the need for retailers to optimise their mobile sites to capture more conversions.

Key Metrics for Mobile Optimisation

To optimise for mobile, focus on the following metrics:

• • Mobile Page Load Time: Ensure your mobile site loads quickly.

• • Mobile-Friendly Design: Your site should be easy to navigate on a mobile device.

• • Responsive Elements: Make sure buttons and links are easily clickable on smaller screens.

Out of Stock, Out of Mind

Impact of Out-of-Stock Items on Conversion Rates

Nothing is more frustrating for a shopper than finding a product they want, only to discover it’s out of stock. This scenario often leads to cart abandonment and a loss of potential sales. According to a study by Adobe, out-of-stock items are a significant reason for cart abandonment.

Strategies to Mitigate Out-of-Stock Issues

Product Notification Tools: Allow customers to sign up for notifications when a product is back in stock.

Backorder Programs: Enable customers to place orders for out-of-stock items to be fulfilled when they become available.

Ship-from-Store Programs: Fulfill online orders using inventory from physical stores.

Free Shipping: A Consumer Imperative

The Importance of Free Shipping

Shipping costs are a critical factor in online purchasing decisions. For many shoppers, the lack of free shipping is a deal-breaker. According to Forrester Research, 75% of consumers would switch retailers to take advantage of free two or three-day shipping.

Consumer Behavior and Shipping Costs

Shipping costs are the second most frequently cited reason for switching retailers, after price. Even affluent shoppers prioritise free shipping, making it a crucial element of your eCommerce strategy.

Community Validation and Its Impact on Conversion Rates

The Role of Customer Reviews and Ratings

Customer reviews and ratings play a vital role in eCommerce conversions. Potential buyers often rely on the experiences of others to make informed purchasing decisions. According to the 2014 BrightLocal Local Consumer Review Survey, 88% of consumers trust online reviews as much as personal recommendations.

Implementing Community Tools

Customer Review Sections: Encourage customers to leave reviews on your product pages.

Q&A Forums: Allow customers to ask and answer questions about your products.

Rating Systems: Implement a star rating system to give quick insights into product quality.

The Importance of Application Responsiveness

User Experience and Application Speed

Application performance, particularly speed and responsiveness, is crucial for a positive user experience. Slow load times can lead to higher bounce rates and reduced conversions. A study by Walmart found that for every one-second improvement in load time, they experienced up to a 2% increase in conversions.

Issues with Mobile Responsiveness

Mobile users are particularly sensitive to slow load times and poor responsiveness. Pages that take longer than three seconds to load experience significantly higher abandonment rates. Additionally, if users cannot easily interact with your site due to poorly optimised touch elements, they are likely to leave.

Implementing the Strategies

Step-by-Step Guide to Optimising eCommerce Conversions

Conduct a Site Audit: Identify areas for improvement in site speed and mobile optimisation.

Implement Product Notification Tools: Keep customers informed about product availability.

Offer Free Shipping: Create a shipping strategy that balances cost and customer satisfaction.

Build Community Tools: Invest in customer review and Q&A sections.

Optimise Site Performance: Focus on improving page load times and mobile responsiveness.

Tools and Resources

• • Google PageSpeed Insights: Analyse and optimise your site speed.

• • Hotjar: Gain insights into user behaviour with heatmaps and session recordings.

• • Yottaa: Use Yottaa’s cloud-based optimisation technology to enhance site performance.

Case Studies

Real-World Examples of Successful Implementation

Retailer A: Improved mobile site speed by 30%, resulting in a 15% increase in mobile conversions.

Retailer B: Implemented a product notification tool and saw a 10% reduction in cart abandonment rates.

Retailer C: Offered free shipping on orders over £50, leading to a 20% increase in average order value.

Lessons Learned

• • Importance of Continuous Optimisation: Regularly update and test your site to maintain optimal performance.

• • Customer-Centric Strategies: Focus on enhancing the customer experience to drive conversions.

Expert Insights

Advice from Industry Professionals

• • Umesh Joshi, Director at Axiom Online: “User experience is directly tied to online business performance. Ensuring your site is fast and responsive is crucial for converting visitors into customers.”

• • Olivia James, eCommerce Consultant: “Investing in customer reviews and community tools can significantly impact your conversion rates by building trust and providing valuable information.”

Future Trends in eCommerce Optimisation

• • Personalisation: Tailoring the shopping experience to individual users can increase engagement and conversions.

• • AI and Machine Learning: Leveraging AI to analyse user behaviour and optimise the site performance.

Conclusion

Summary of Key Points

Optimise for Mobile: Ensure your site is mobile-friendly and fast-loading.

Mitigate Out-of-Stock Issues: Use product notification tools and backorder programs.

Offer Free Shipping: Attract and retain customers by providing free or reduced shipping options.

Implement Community Tools: Build a robust customer review and Q&A section.

Focus on Performance: Regularly audit and improve your site’s speed and responsiveness.

Let’s Talk eCommerce Optimisation! Get In Touch 

Ready to boost your eCommerce conversion rates? Start implementing these strategies today with the help and support of Axiom Online and see the difference they can make in your online business. For more insights and personalised recommendations, contact our team of experts.