How to improve the conversion rate in e-commerce?
The conversion rate of a website refers to the number of people who have carried out a specific action on your site (purchase, subscription, click, rate of filling in a form, etc.).
For e-merchant sites, this is a very important metric: it measures a company's ability to turn prospects into customers and build customer loyalty.
So what is a good conversion rate for an e-merchant site and how can it be optimised? We explain.
What is a good e-merchant conversion rate?
1. Definition of the e-merchant conversion rate
The results of a study show that e-commerce conversion rates were at an average of 2.1% in November 2022, an increase of 0.8% from the preceding month but a decrease of 0.28% when compared to the same time period the year prior.
While this data is an average, it is important to note that the conversion rate depends on many factors. For example, consumers in the UK using mobile phones and tablets to shop online generate a 4% conversion rate, while those on desktops are at 5%.
It is always possible (and advisable) to make and iterate improvements to better the conversion rate and increase your turnover. Indeed, by increasing your conversion rate, you boost your sales.
In this way, the company strengthens its market position and improves its profitability.
2. Calculation of the e-merchant conversion rate
To calculate an e-merchant conversion rate, you need to divide the number of conversions by the number of visits to your website. This number is expressed as a percentage.
Conversion rate = (Number of conversions / Number of visits) x 100
It is important to track this conversion rate over time to get an idea of how your website and marketing campaigns are performing.
Historical and market average conversion rates will help you to set targets and guide your optimisations.
5 tips to increase conversions on your e-merchant site
1. Optimise the customer experience by simplifying the user journey
In 2022, the number of unique mobile Internet users reached five billion, indicating that more than 60% of the global Internet population uses a mobile device to connect to the Internet. Mobile traffic must therefore be considered by e-merchant sites with the utmost attention.
To ensure that users have a seamless omnichannel experience, sites must constantly optimise their user journeys to keep them simple and mobile-friendly. In order to understand the friction points in user journeys, companies can implement quantitative and qualitative analysis tools (such as surveys or Google Analytics).
By using customer journey metrics, engagement metrics and A/B testing, you can determine what your users like and don't like.
The customer must be at the heart of your e-merchant strategy: to do this, make sure you adapt not only your offer and your products to your customers' needs, but also your website and user paths.
To do this, you can:
- Simplify the connection options while maintaining secure usage. For example, offer login via Face ID so that your customers can log in to their account on your app in seconds. You can also link your visitors' accounts, such as Google, or social networks, such as Facebook, to facilitate their account creation or login.
- Offer a personalised online shopping experience similar to that of your physical shops. For example, by offering an online chatroom where the customers can ask questions so that your staff can direct them to the right product in real time.
- Attract your visitors by pushing promotions to them via email or social networks. Give your visitors the possibility to create a wishlist or to save their preferred products as favourites. They can then easily find their favourite products in their personal space later.
- Create an e-mail sequence to encourage your customers who have filled their shopping cart but left the site without finalising the purchase. To do this, you can also offer a promotion with the reminder.
- Offer a discount when they arrive on the site via a pop-up if they subscribe to your newsletter. This will encourage your visitors to buy from your site rather than another and you will be able to recover their e-mail for future marketing campaigns!
2. Offer flexible delivery options
Speaking of unexpected prices, 48% of e-shoppers abandon their carts because of additional costs like taxes and shipping fees. Delivery options are an essential part of the online shopping experience. You need to constantly reassure your customers about this by offering a wide range of delivery options and ensuring that your delivery promises are kept.
3. Highlighting the benefits of your products
Think about how to best promote the benefits of your products to encourage customers to make a purchase from your site. It is crucial that you showcase the unique benefits of your products and services over those of the competition.
To do this, use detailed descriptions, good quality images or videos to showcase the benefits of your products. Customer testimonials are also social proofs that reinforce the perceived value of your products while also increasing the confidence of your potential customers.
Putting all these options in place will help you convince your customers to return to your site for future purchases.
4. Add secure payment options
Did you know that 42% of US consumers will not complete a purchase if their favourite payment method is unavailable?
A proportion of your potential customers are therefore likely to abandon their purchase if they cannot pay with their preferred payment method. This is an important factor that can influence your conversion rate.
To remedy this, be vigilant and try to define the main payment methods likely to be used by your targets in order to offer the most relevant ones to satisfy your customers and avoid cart abandonment.
By not letting any of your visitors (i.e. your potential customers!) abandon their purchases, you will improve your conversion rate!
For future purchases, consider offering your customers the option to easily register their favourite payment methods, which will make future payment transactions much easier.
5. Prioritise improvements
With so many opportunities to improve your website's user experience and increase your conversion rate, your to-do list can quickly become very long!
Determine which optimisations should be prioritised based on the impact each will have on your conversions.
To go further
To meet your customers' needs and requirements regarding delivery methods you can connect to a unified Delivery Management System such as Woop. This will allow you to enhance your delivery promises by offering your customers the solutions they expect and thus avoid shopping cart abandonment.
By connecting to the Woop platform, you can offer all the delivery paths that consumers want:
Ship from Store
Click and collect
Delivery to lockers...
To achieve this, Woop will connect you to a network of more than 600 transport partners with the appropriate specificities for your business (bulky, green, cyclo logistics, collaborative platforms, international carriers).
Would you like to know more about Woop's support in implementing the right delivery solutions to improve your e-merchant conversion rate?
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