Before getting started with how to increase conversion rate of your business, it becomes necessary to learn what conversion rate is. In a nut shell, it can be defined as rate at which you convert your visitors to potential buyers. In other words, it is rate of selling products to customers visiting your site.
Find below the empirical formula for calculating the conversion rate below.
Conversion rate = Number of purchases/number of customer visits
Why conversion rate is significant?
Find below some useful parameters that can help you realize why conversion rate is significant.
- Improves performance of your website
- Fructifies unique needs and objectives of your business
- Enables you to make the most of your business
- Decides the success/failure of your business
How to measure this?
A few factors that can help measure conversion rate are given below.
- Fast site load
- Easy search option
- Multiple payment option
- Secure & fast checkout
How to build a high-conversion ecommerce site?
Focus on the points below to optimize your site for better conversion.
- Website Design
- Server performance
- SEO – Product description
- Checkout experience
- Focusing on product promotion may lead to decrease in conversion rate.
10 Ways to increase conversion rate in shopping cart
I’ve provided below 10 fantastic ways to improve your shopping cart conversion rate incredibly.
- Advanced “Faceted Search Option” – Search your customers can search products easily based on attribute, color, size, etc., and configure your search tool to include misspelling and synonymous phrases to increase relevant results.
- Merchandise Your Products – Provide high-quality video images of products with zoom option and detailed view.
- Use Clear and Compelling CTAs – Include and maintain clear text on the buttons. Don’t confuse your customers with difficult or less known words.
- Make your site fast by:
- enabling cache,
- cleaning up inactive CMS pages and remove out-of date promotions and products,
- archiving old orders and limit your shopping cart lifespan, and
- using CDN for static Html, CSS and JS files.
- Turn mobile responsive or create an app for your business
- Follow-up customers via emails. Offer gift coupons, codes as well.
- Set up easy checkout page with relevant-only fields
- Include multiple shipping, payment, language and currency options
- Categorize your customers based on their behaviors like time spent on page, favorite products, buying frequency and demographics like age, gender, country, city, state, region from Analytics reports
- Use price promotions wisely for acquiring repeat customers
I hope the tips provided here would play a great role in the enhancements of your shopping cart conversion rate to a great extent. If you wish to include a few more points that I’ve missed out here, then input them via comments.