The secret to boosting your ecommerce revenue
Amazing ecommerce is twofold. It’s about:
a) Reducing friction along the conversion funnel so that more customers spend, and;
b) Enticing them with great offers so they spend more.
Ultimately, it’s all about your conversion rate. Boost your conversion rate and you’ll see your ecommerce revenue grow.
How do you calculate your conversion rate? Put simply, your conversion rate is your number of orders, divided by your website’s number of unique visitors. Most online retailers have a conversion rate of around two to three percent.
Many ecommerce retailers aspire to boost visitor numbers to increase revenue. While that strategy can work wonders, it’s often a smarter, more cost-effective strategy to grow the revenue from your current customer base by upselling to current customers and restructuring your product offering to boost conversions.
Even a slight lift in your conversion rate can have a massive impact on your ecommerce business’ profits. It also lowers your customer acquisition costs, takes advantage of your current website traffic, improves your brand perception and search visibility, and increases your customer lifetime value.
Here are some of our top web design tips to help you lift your conversion rate.
Iron out the tech
First thing’s first – improve the technical aspects of your website.
Moz recently released the 2015 search engine ranking factors survey results. This is the most up-to-date guide on which technical aspects of your website impact your rankings, and how you can improve them. Highlights include:
Using https instead of http to improve the security of your website; and,
Maximising the time until your domain registration expires.
Offer free shipping for higher priced orders
In order to boost your revenue, think strategically about pricing, shipping and how you can tailor your product offering to deliver an excellent deal for your customer. For example, customers whose order totals more than a certain price could enjoy free shipping. This is a sure-fire way to entice your customers with an upsell!
Entice with a variety of payment options
The goal here is to make checking out as easy and seamless as possible. By offering payment options such as PayPal, you can even capture business from buyers who prefer not to share their credit card details online.
Take advantage of heat maps
Ever heard of CrazyEgg? It’s an ecommerce retailer’s best friend. Use CrazyEgg’s heat map click tracking and scroll tracking to audit your website and gain a deeper understanding into how users are interacting with your ecommerce website. This is particularly useful for product pages.
Use product reviews and ratings
Looking for a way to add credibility to your mobile responsive web store? When added to your ecommerce product pages, product reviews and ratings can be a very effective way to turn trust into sales. You can even take it one step further and use Yotpo for your reviews and ratings to drive more users to leave a review. You can also seamlessly distribute reviews over social media to highlight your customers’ enthusiasm for your products and acquire more traffic.
To discover more ecommerce tips, or find out how we can help you optimise your website for conversions, contact our expert web designers today.