*The following is a guest post from our partner, Jirafe, Inc.
Ecommerce conversion optimization is a frequently discussed topic – regardless of what an online store sells, merchants depend on conversion rates to determine the health of their brand and where they should make changes. However, most merchants will tell you that turning web traffic into purchases is challenging.
After examining data across 80,000 of our merchants, Jirafe found that only 53 percent of visitors looked at products after arriving at a site. Additionally, only 2.7 percent of visitors who looked at products, then added them to shopping carts – industry average rates for completed purchases are between a meager one to five percent. Even if you are generating a considerable amount of traffic to your site, the chances of converting visitors into paying customers are slim.
- High volume of visitors, low conversions
- Understanding which marketing channels bring the most customers and revenue
- Difficulty drilling down on products and categories that turn browsers into buyers
- Keeping customers coming back consistently
- Segmenting ecommerce data
Jirafe analyzed 425 million shopping experiences and the daily purchase behavior of more than 65 million shoppers, and found that the best practices to influence customers to purchase and improve conversions are:
- Examine your customer lifetime value metric by marketing channel. Does Facebook or Pinterest bring you customers with the highest spend?
- Position your best selling products above the fold on your homepage and make purchase suggestions during the checkout process.
- Present your products clearly with precise descriptions, social proof, and valuable product ratings.
- Create the “need it, want it, have it” mentality with your customers – show them what they’re missing if they don’t buy the product. Limited time offers also create a sense of urgency.
- Greet returning visitors to your site with compelling, and personalized messaging and offers to buy.
- Figure out where customers are getting stuck in the funnel in terms of products that aren’t selling, and feature these products in promotions or discount them.
- Look at your data and see what products and services are turning browsers into buyers. Test elements such as price, product descriptions, photos, and call to action buttons.
About the Author:
Amit Shah is CEO and founder of Jirafe, Inc., and has more than 15 years of experience in the ecommerce space. He founded Jirafe with the belief that merchants with an online channel needed answers about their business that tools like Adobe or Google simply don’t offer. Jirafe ties every action on your site to revenue, and helps merchants understand where they can sell more. To learn how you can grow your business visit www.jirafe.com.