eCommerce is a broad topic that encompasses many elements, starting from region-based commerce to international online retail.
E-merchants should have a clear view of what eCommerce is, how it works, and, more importantly, what eCommerce isn’t.
But how big is eCommerce? The global eCommerce market is expected to hit $6.388 million by 2024. Check out the chart below to see the eCommerce sales projections.
We should anticipate more accelerated growth rates in eCommerce. E-merchants should brace themselves with adequate tips and tools to have a share of the increasing number of global buyers.
Having a sound eCommerce conversion rates strategy is necessary for eCommerce. The conversion rate is the percentage of visitors who purchase from your store.
This article will explain some of the top eCommerce practices that will improve your conversion rates.
1. Install an SSL Certificate on Your Website
Online shoppers have become more sceptical about the websites they use to shop. This is following an alarming surge in the number of fake websites.
Continued financial frauds and identity thefts have created a much savvier society. Website visitors now clearly understand some of the indicators of unsafe websites.
Buying and installing an SSL certificate is now more essential than ever before. SSL certificate is not only a cybersecurity additive but also a psychological one.
Websites with an SSL certificate make web visitors feel more secure while browsing and buying from the website. The reason you are having high cart abandonment and low conversion rates might be that your customers feel insecure during their checkout process.
The remedy to this is to buy and install an SSL certificate. The HTTPS status alone is enough to convince your visitors that your site is secure.
Choosing the right kind of SSL cert is as important as buying and installing one. For ecommerce ventures installing a wildcard cert is highly recommended. With this single cert, you can afford premium security to the chosen main domain and an unlimited number of first-level subdomains under it.
Some of the best SSL certificates you can choose to work with include RapidSSL Wildcard SSL, Comodo Essential SSL Wildcard, and GlobalSign Wildcard SSL.
2. Offer Coupon Codes
Offering coupon codes is a great way to increase your eCommerce conversion rates.
The idea of having your visitors come to your website with coupons already in their hands makes them more likely to purchase, more than a regular shopper who has to pay the full price. You can leverage sites like Groupon and Woot to give your customers such coupons.
3. Speed Up Your Website
Website speeds can make or break your conversion rates and your eCommerce store, for that matter. How fast does it take for your web pages to load in the browsers? You should know that every second is crucial for the success of your eCommerce store.
Page load speeds have a direct impact on your conversion rates, as shown by the graph above. Improving your page loading speed will positively impact your conversion rates and, consequently, your sales and revenues.
4. Have Clear Calls to Action
Having clear Calls to Action is another vital strategy that will increase your conversion rates and sales.
You might have a great website, selling great products, and having fine images, to the point that your website visitors love everything about your website. Your website just made them curious, and they will want to do more than just seeing. But what mechanisms do you have to bring them on board?
Let your CTAs tell them they can have everything done just by the click of a button. Good Calls to Action will instil a sense of urgency in your visitors.
They will provide you with a great opportunity to psychologically capitalize on their impulse and push them to make purchases, thereby increasing your conversion rates.
5. Address the Possible Causes of Cart Abandonment
One of the biggest problems that eCommerce store owners face today is cart abandonment.
According to Statista, more than 88% of shopping carts were abandoned in March 2020, and Baymard Institute reveals that the average cart abandonment rate is 69.80%. It is clear that cart abandonment has become a menace, and eCommerce store owners should rise to the occasion to find a lasting solution to it.
The graph below summarizes the reasons for cart abandonment.
To increase your conversion rates, you must eliminate all possible causes of cart abandonment. In doing so, you will soon realize increased sales and revenues.
6. Have a Mobile-friendly Website
Mobile devices have changed how we do things. Today, many people shop online using their mobile devices, and Statista has shown that 61% of eCommerce visits happen via smartphones.
Mobile phones have thus presented eCommerce store owners with a golden opportunity to increase their conversion rates in sales. It is an opportunity you cannot afford to overlook.
If your website is not optimized for mobile friendliness, believe me when I tell you that you have missed out on a lot of traffic. Google offers a mobile-friendly test that you can use to check whether or not your website is mobile-friendly.
If you discover that your website is not mobile-friendly, you should take the necessary steps to optimize it for mobile-friendliness.
7. Harness the Power of Social Media
Having an excellent social media presence will go a long way toward improving your conversion rates. As you know, most people go on social media platforms to search for products and information that they find relevant. Today, most people around the world are using social media.
As an eCommerce store owner, you should leverage the power of social media to bring in more customers to your store. You should ensure that you have active social media accounts such as Facebook and Twitter.
You can use such platforms to tell the public about your products and services and direct them to your website. It is a great strategy that will increase your conversion rates and your sales.
Wrapping it Up
One thing you have to know about eCommerce is that your conversion rates will not just increase miraculously. You must invest and work for them.
This article has explained some of the top best practices that will boost your conversion rates. These tips apply to both the startups and the stores that have been in business for some time. It is always important that you use multiple steps for maximum results.