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Conversion rate optimization is a tactful way of increasing the percentage of your Shopify store website traffic that makes a purchase, also known as a conversion. It takes the psychology of persuasion to convince customers to take a desired action.
Shopify store conversions are a big deal. They’re that cheerful moment when a casual visitor to your store finally makes the first step of buying one of your products. And, on a narrower scale, conversions are happening all the time leading up to that moment, too.
For example, conversion on your homepage might mean having a visitor click through to a product. A conversion on a product page might be an alternative to a customer clicking Add to Cart. It absolutely depends on the purpose that a specific part of your website serves.
That being said, there exists no single growth hack that can miraculously turn your Shopify store profitable overnight.
Nevertheless, there are numerous techniques that when effectively implemented, can eventually boost your sales.
Customers need to be tactfully convinced to take their first step in purchasing from your store.
Your store needs to be designed with your customers in mind.
While it is true that boosting your traffic can generate extra sales, it’s just as essential to focus on turning your current traffic into paying customers.
At every single stage of your customers’ purchasing journeys, there exist new opportunities for you to make their paths shorter, easier, and more enjoyable. Through extensive experimentation and reviews, you can fine-tune your website to bring people closer to making a purchase.
An essential part of maintaining a feasible conversion rate optimization process is ensuring you are tracking conversion rates across your channels. To achieve that, you need to know how to calculate Conversion Rate Optimization (CRO).
Here’s what a common conversion rate formula looks like:
Conversion rate = total number of conversions/number of visitors) ×100
Let's take an instance where your store had 100 sales and 2,000 visitors last month. Your conversion rate will be 100 divided by 2,000 (0.05), multiplied by 100, which gives 5%.
How do we define a good conversion rate for your store? The latest surveys and studies reveal that the average conversion rate for e-commerce sites is 2.86%. As a new store owner, an ideal goal to focus on is between 1% and 2%.
There exist some different ways to optimize conversion rates. This quick guide will focus on one that we have proven is work efficiency. It’s a type of experimentation called A/B testing, or alternatively also called split testing.
A/B testing is a way of comparing two versions of the same webpage to find out which one produces more convenient results. While conducting this experiment, two varied versions of a page are shown to two identical sets of visitors at the same time. Subsequently, the version that performs more effectively and produces a greater amount of conversions is rendered the winner.
As a reminder, before conducting an A/B test, you’ll need to investigate if your website receives enough traffic to generate statistically crucial results. In case your sample size is too small, we are sorry you won’t be able to learn anything from your results because they won’t accurately reflect how a larger population is using your site.
Therefore, in case you need to calculate the amount of a sample size you’ll need to conduct an A/B test, you will have to simply drop your current conversion rate for the web page you’d like to test into this calculator.
If the traffic that the webpage receives is relatively less than the sample size required for the test, aim at driving more traffic to your website first rather than optimizing for conversions.
Conversion rate optimization, or in other words conversion rate tracking strictly, assists you in getting a clear picture of your revenue. Continuous tracking helps you to effectively diagnose your marketing channels’ efficiency. With this information, you can come up with better strategies for your eCommerce business, like making a choice on which products are best-sellers in order to push their promotion, which should otherwise be left out from your store, or which marketing activities you should keep pushing.
There are many factors that affect the conversion rate of a store for example, self-performance, personalization, Customer service, and customer type, just to mention a few of the wide range we are going to discuss below.
Due to the existence of both internal and external factors, the conversion rate fluctuates immensely. This makes Shopify conversion rate optimization very challenging. Below is a comprehensive list of a few painstakingly analyzed common factors affecting Shopify conversion rate.
One of the most important conversion rate factors is the display of products because it directly affects the shopping experience of customers.
As opposed to a physical store, your Shopify store visitors are not able to touch, feel, or physically examine the products. As such the most crucial thing you can do to provide a similar physical feel is by using high-quality visuals.
Product images and product videos assist shoppers in visualizing the item they’re buying like the palms of their hands (as if they were physically there). This plays a crucial role in increasing conversion rates while at the same time reducing return requests. Make sure to add a variety of images to let your visitors check the item from varied angles.
In addition, to make your website stand out among the crowd in terms of product display you can try a new methods – 3D and AR. To be precise, Augmented Reality (AR) is the proper display of objects superimposed on the real-world view of the environment. It requires different varieties of 3D models. 3D Configurator–allows the customer to interact with the product in a live 3D model and visualize their customizations in real-time. It, therefore, has got your hand with this. With this new application, you can:
Hiring a Shopify professional to help you in shooting and producing your product page, will be an effective way of winning many customers to your website.
Our well-established, legit, and reliable Paas3D Shopify app can give your website a mind-blowing look at a very affordable rate.
A visitor needs to be presented with what they need most. Algorithms have been developed to make this need effective, and a failure to enhance them can lead to the desired product being buried completely on the 20th page of your collection.
That said, personalization is very vital in increasing sales funnel conversions. 51% of consumers anticipate eCommerce websites to prioritize their needs and make relevant suggestions. Marketers see a mean increase of 20% in sales when offering personalized experiences.
One of the most effective ways to leverage personalization is by using data science skills. Data science makes it possible for you to divide your customers into micro-segments based on a variety of variables, like gender, age, browsing behavior, purchase history, and spending habits.
With this factor, you help predict what a customer is most likely to buy next, so you can show the exact products, thus increasing conversions.
Another way to effectively use personalization is by using a product-personalized recommendation app that is fitted to automatically recommend products to each customer.
Upselling and cross-selling are exceptional ways to increase your average order value. Nevertheless, you should limit the number of options you provide.
Going beyond expectations with related products or complementary pieces can feel overly aggressive and might prevent the shopper from finishing their purchase.
Shopify development provides various third-party apps that you can incorporate into your online store to upsell and cross-sell easily. You are free to choose an app that resonates well with your business.
If your checkout process isn’t easy to peruse through, you might lose a lot of customers right when they are ready to buy. A survey by Baymard Institute found that 21% of US shoppers would abandon the cart if they feel that the checkout experience is confusing (or too long and complex).
One way to ensure an effective solution to this problem is by using a checkout progress bar that indicates where they’re in the process and how much is left.
Moreover, another way to optimize the checkout process is by providing one-step checkout. A similar survey by the Baymard Institute discovered that 6% of US shoppers would abandon a cart if there weren’t enough payment options.
For instance, Minaal, a company that sells travel gear, has a clear knowledge of how to optimize the checkout process. They avail two options to shoppers: add the product to the cart and continue browsing, or purchase the product directly.
We can therefore conclude that offering multiple payment options is an impressive way to optimize the checkout process.
Providing a guest checkout option takes the checkout optimization process to a top-notch level.
According to a conducted survey, 34% of the shoppers have abandoned carts because the store wanted them to come up with an account to complete the checkout.
In case you are unsure of whether you will retain a connection with your customers, then don’t worry, you’ll have their contact details anyway when they purchase.
You can give room to the guest checkout option by shifting your customer account preferences in settings.
Simply go to checkout under your settings from your Shopify Admin. In the customer accounts section, select accounts are optional.
6. Provide Limited Time Offers
Though this may look like a temporary sales boost strategy, providing limited-time offers is another enticing way to increase your Shopify store.
It strongly appeals to the shoppers' FOMO (fear of missing out) and enhances their spirited effort to purchase instantly.
You don’t have to offer a fortune, or discount to influence users into purchasing. You can simply offer limited-time “free shipping deals” or “express delivery”.
Further, you have added a timer to clearly explain to users that they’re missing out on great deals with each passing second.
7. Highlight Your Return/Refund Policy
Approximately 67% of consumers check the return policy before settling on a purchase.
Customers' great worry is that if the product is below their expectations or if they received a faulty product, will they get their money back?
That being said, having an excellent return/refund policy reduces fears and last-minute hesitations. It also makes them readily commit to a purchase.
Therefore, make sure that your return and refund policy is visible on the product description page. Besides, don't fail to mention when shoppers can return the product.
This enhances the confidence of the customer and guarantees that they’ll get a new product or their money back if they aren’t satisfied, thus increasing the conversion rate.
8. Leverage Email Marketing to effectively Follow Up on Abandoned Carts
Research has shown that only 2% of visitors turn into customers on their first visit to online shops. However, this doesn’t mean that the remaining 98% won’t convert ever.
That's where Email marketing comes in handy. It assists in retargeting them and increasing your conversion optimization rate. As a matter of fact, 28.3% of all eCommerce revenue comes from successful abandoned cart emails.
When sending retargeting emails, including the products the visitor has left in their shopping cart.
Moreover, make use of special offers like free shipping or an X% discount to raise the chances of conversion. You can also add a CTA to drive users directly to the checkout or shopping cart page.
As we are almost coming to the end of this well-sourced article, we would like to introduce our amazing Paas3D Shopify app as it can help you to effectively increase your Shopify store conversion rates. We allow customers to clearly see the real-time transformations of the 3D model as a select product trend of their preference, and to conveniently view and experience the product in real life through augmented reality (AR). Here is how we work:
Congratulations on having read this article until the end. But wait a minute, have you found anything worthwhile?
Of course, because conversion is the final goal of any Shopify merchant ever, tips and tricks surrounding it will always change. This very article might surely end up being updated in the future to something completely different. However, for now, these are the most comprehensive bite-sized tips you can find regarding Shopify Conversion Rate Optimization.
Finally as a recommendation, now that you have mastered the basics, why not move on to more advanced and applicable steps to optimize your eCommerce conversion rate?
Create stunning 3D products
Boost Conversions and Engage Customers
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