One commonly asked question online retailers ask our E-Commerce experts at Xcentric Services is – What is a good online Conversion Rate for E-Commerce? There is no straight answer to this, as it varies on the type of E-Commerce business and the definition of conversion in its industry. For example, an online web store selling high-priced products has a lower online conversion rate, while the other one selling low-priced products has a high online conversion rate. Therefore, we being an E-Commerce Development Agency focus on the types of conversions being measured.
Purchase orders or newsletter signups? Add to cart or complete purchase? Social media engagement or product reviews? Repeat customers or first-time customers? And the list goes on of the metrics that are measured to determine online conversion rates. Moreover, E-Commerce Conversion Optimization is much more than just an immediate online sales booster. It is also about bagging information that leads to online sales. In this blog, we will share with you the most common E-Commerce conversion types that we count on for our clients and also improve them.
1. Add-To-Cart Conversion Rate For E-Commerce
The rate of add-to-cart tells us the percentage of online web store visitors who placed products in their shopping cart, regardless if they really purchased at the end. This action simply represents that the customer intended to buy. And usually, it has a higher online conversion rate as compared to the purchase conversion rate.
As an E-Commerce agency, we believe that a high add-to-cart rate indicates stronger product pages and CTAs. In case any of our clients have a low add-to-cart rate, we increase it by:
- Creating compelling and engaging product pages.
- Putting up traffic-driving CTAs.
- Using call-out icons for products in stock, exclusive, or in a limited stock.
- Focusing on the overall design of the client’s online web store to ensure seamless functionality.
2. Purchase Conversions
Customers adding products to the cart is one step of the online shopping process. Next to it comes the purchase – when the customer actually ends up hitting CHECKOUT. The Purchase Conversion Rate does not only indicate the percentage of buyers but also the percentage of cart abandonments. On average, the online conversion rates are 2-2.5%, and our top-performing clients report online purchase conversion rates of up to 11%.
3. Email Signups
No business should lose hope if there are no sales. Getting email signups instead of it is another way to increase the online Conversion Rate for E-Commerce stores. When customers sign up for a newsletter, they directly connect with the brand. Hence, our team focuses on both – generating sales and getting customers to signup for the newsletter. Safe to say, the average conversion rates of email signups for our clients range between 2% to 5%. Other than that, we also ensure that the online web store of each client is best-converting by focusing on:
- Monitoring page visits, visitor scrolling time, and determining when the CTA to email signup pops up.
- Offering something of value to the customer – even if it is not a discount, exclusive product news also works wonders.
4. Other Actions Impacting Online Conversion Rates
Even though a business’s followers on social media platforms like Instagram and Facebook are not as helpful as email subscribers, they do have an impact on online conversion rates. For instance, a customer saw a post related to your products on their social media feed, and because it was engaging, he/she hit the share button – though didn’t make a purchase. The hit on the share button is a lucky charm for a business. How?
Even though the one sharing the post didn’t make a purchase, any other person from his/her friends might make one after seeing the post? So yes, it all boils down to the actions that impact online conversion rates, not only the original sales.
Other than social media sharing, many other actions also increase online conversion rates. For example – social sharing, PDF downloads, and live chat with customers, which are all a part of a customer’s online shopping journey.
Even if a business on board with us has a few or several online conversion types, every visitor action does lead to sales. Hence, we not only focus on sales alone but track the overall performance of every action a customer takes in the online shopping journey. Because certainly, there is always room for improvement in Conversion Rate for E-Commerce.
How WE Drive Online Conversion Rates For Businesses?
Online shopping habits of consumers have changed drastically in 2020, and E-Commerce websites are all set to experience dramatic growth. We at Xcentric Services have decided to keep up with the momentum and get our clients more conversions following these Conversion Tips:
· Welcoming Buyers Based On Referring Platforms
To begin 2021 on a high note for our clients and increase their online conversion rates big time, we have started displaying welcome messages for their customers on referring platforms. For instance, a customer is landing on our client’s online web store through a blog or a social media post. To pitch the customer, we display messages like “Hey jewellery lover! Click here to get your first discount coupon” or “Hello reader! Checkout our latest products here”.
The result? A personalized experience is provided to the visitors before they even convert into customers. Though there are a few things we make sure of when drafting the message – keeping it short and avoiding terms that feel like we are invading the customer’s privacy.
· Ramping-Up Sharing Tools
In most cases, we also put word-of-mouth to the rescue because the customers of today are all about sharing their opinions on products with others. To earn it, we first determine which social media platforms are most loved by our client’s target audience. And then, by posting engaging content consistently on these platforms, we boost online conversion rates. Though before it all, we make sure to place all the social media platform icons on the client’s online web store. Thus, making it easier for the visitors to find the brand on social media and follow it for updates.
Even though you have tried on countless Conversion Rate Optimization Tips, your rates are nowhere near the average? Stop stressing over increasing them and hire us to help you out. Our experts at Xcentric Services have years of experience in boosting online conversion rates for businesses. Get in touch with us and let our team put in expertise to action for your business too!