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In an eCommerce business, the right conversion rate plays a major role to maximise your revenue. With the right conversion rate, you can boost your sales and add to your profits. So what exactly is the concept of conversion rate?
In simple terms, it denotes the percentage at which your product can be converted to an actual saleable item. In most cases, a good online business will have a conversion rate of around 1% – 2%. With this healthy conversion rate, you can win perspective customers and can enjoy great reach and reception.
Have more information about conversion rates in order to know that right rate that is ideal for your business needs. Accordingly, work on the business strategies to win customers and boost your sales.
Use some advanced conversion analysis tools, such as Inspectlet, Mixpanel, and CrazyEgg and so on. These tools analyze your business information and come up with the most appropriate conversion rate that you need to go for.
You can make use of Google Analytics and webmaster tools to know more about the extent of time customers stay at your site, the location of the visitors, the browsing medium used and lots more. All these information can be handy inputs to come up with the conversion rate.
You can use high-quality images of products. This makes the products more attractive and adds to their conversion rates.
In order to lure more customers and improve your conversion rates, you can provide customers with services like free shipping, cash on delivery and so on.
Make use of coupon codes that customers can use to get discounts on the price. This increases sales and conversion rates.
Adjust the price of the product according to the demand. While some products may have seasonal demands, some may have constant demands. Accordingly, adjust the pricing to boost sales.
Try to simplify the checkout process as that will lure more customers to your site. A site with a complicated checkout process doesn’t attract customers.
A good way to boost sales is to use cart abandonment software. In this case, the software will send reminder emails to customers who have added products to the cart and then left.
Have a good customer support process. In case a customer gets stuck, the customer support should help. This creates goodwill and in turn increases sales and conversion rates.
Make your eCommerce site safe and secure the financial transactions by having an advanced encryption channel.
Provide the customer with a range of payment options, like card payments, net banking, mobile wallet, or COD.
Improve the navigation of your eCommerce site so that customers can easily find what they are looking for.
Try to be transparent as far as possible and do not include hidden costs. If there are additional charges, clearly mention in the shopping cart.
Make it optional to register at your site. Not all customers like that. Allow them to buy your products by logging in as guests.
Provide information about the products to the best extent possible. This will help the customer to have that trust factor on your site.
Provide candid and genuine reviews of the products. If there are user reviews, publish them as they are.
A good way to increase sales and lure customers is to have product testimonials. This helps bring out the USP of the product.
Have a good delivery and shipping process so that the products reach the customers within the promised time.
Try to have a mobile-friendly site. If possible, have an app that can be installed on the mobile phone.
Have a good packaging that brings out your brand value and brand image as much as possible.
Keep track of the conversion rates and analyze them on a periodic basis to have an idea of the trend.
Try to lure new customers by providing attractive offers like welcome discounts and coupons. This way you can build a good customer base.
Make a good search engine optimization process in place so that your site is visible on the premier search engines.
Try to add to your product base on a periodic basis. This will increase interest among buyers.
Offer an EMI scheme to customers in case of high priced products.
Try to promote your site through press releases and advertising channels.
Try to make use of affiliate marketing programs to improve your conversion rates. Adsense is a good option.
Adjust your sales and marketing strategies according to the changing market situations.
Last but not the least; stay away from fraudulent activities and be compliant with all legal requirements.
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