Hit by low-conversion rates?

Today selling is about opening a website, displaying products, and getting paid for it. That’s all you ever need to do to selll your products. The magic happens as technology powers these sites for an amazing shopping experience.

At the same time, getting your ecommerce business on the roll is a challenging task. Customers prefer shopping sites that offer an easy and smart shopping experience. The problem arises when customers visit your website and turn away without making a purchase. There are ample reasons why a customer doesn’t purchase from a store. It could be a security issue or anything that may concern a customer. In such scenarios, customers hesitate to continue shopping and move away from the site.

Common Problems in Ecommerce Business

Like we mentioned earlier, ecommerce faces few issues that lead to low conversions. It’s time we investigate some of the reasons why ecommerce businesses aren’t making enough conversions.

Long and Complicated checkouts

Checkouts play a crucial role during shopping. Checkout is a place where customers expect a seamless experience. There is no point in wasting the customer’s time with complicated checkouts in a fast-paced internet world. As the checkout remains long and complex, customers tend to move away.

Cart abandonment

Customers abandon the cart for many reasons. Well, in some cases the customer could be skeptical about providing credit card information. They might have a feeling that the website is not trustworthy and keep away from proving personal information. In these scenarios, customers generally abandon the cart in the middle of shopping. Statista provides a statistic chart on the number of abandoned shopping carts in various industries during previous year.

Security issues

You will certainly agree that security is a major aspect in ecommerce shopping. Customers are generally wary of providing personal information. So they scan the website, especially if they are new to it. And if they don’t find trust signals, they generally shy away from making an order. Therefore, ecommerce websites that don’t offer security measures have less chance of converting customers.

We had a brief analysis of what could go wrong in an ecommerce website.

Let’s hop onto know about conversion rate. It will set the stage to talk about ways to boost the conversion statistics of an ecommerce business.

What is conversion rate?

Conversion rate is the percentage of visitors to your website that complete a desire goal out of the total number of visitors. For example, say if your website has 1000 visitors, out of which 10 of them complete a sale, then your conversion rate will be 1%. According to the invespcro website, the average conversion rate of ecommerce business stands at 2.58%.

Remedy for Low-Conversion rates

Let’s inspect the ways that are available to boost ecommerce business for higher conversion rates.

Mandatory Sign-ups affect growth

Sign up forms make or break a business. Customers are generally wary when it comes to revealing their personal information. Sign-up forms ask to declare personal information like name, age and email address upfront. For this reason, many customers keep away from registering on a website. If ecommerce stores insist on having a sign-up page as a mandatory requirement, it could lead to low conversions.

If you want your customers to buy products, don’t force sign-ups. Sign-up forms make people bound to a website, which they don’t prefer. Instead, create a guest login and allow customers the freedom to purchase. As a result, customers will end up buying from your website, leading to more profits and conversions.

However, if you would like customers to sign up for your website, some tactics can be applied. In one case – after a customer has completed a purchase, you can email their account information along with a temporary password to finish their sign-up. Even otherwise, on the thank you page at the end of order processing, you may offer an easy sign-up procedure that customers would prefer to register.

Single Page Checkout

Single page checkout is a brilliant feature that leverages high conversions.

How does a single checkout page work?

In a single checkout page, the entire checkout process is completed using a single form.
You will find the entire set of fields for making a payment in a single form. The idea is to get the customer through a quick and simple process. Single page checkout proves effective for dealing with cart abandonment and automatically yields more conversions.

Benefits of Single page checkout:

The form is short and makes it easier to fill
The money transaction is simpler and free from any hassles
It’s no way complicated and a sure way to improve customer experience
Fewer clicks mean higher conversions.

Different Payment methods offer convenience

There are numerous payment methods in the industry. However, customers prefer a certain payment method as their choice of payment. Credit card is the most used payment method in many cases. The success of an ecommerce store depends on the wide array of payment methods being offered for customer purchase. When customers feel comfortable making payments through their preferred payment mode, the issue of cart abandonment automatically goes low. The more number of payment options, higher is the conversion; plus it is an added convenience.

Ecommerce owners can still focus on additional aspects to increase conversions. For instance, optimizing the customer shopping experience has a favourable impact on customers. Or you may provide a local payment facility (local currency) for a positive customer experience. At the same time, maintaining the trust factor of your ecommerce store is essential for attracting customers to buy with confidence.

Applying the stated principles will help to transform your ecommerce business to score high conversions and yield profits.