eCommerce conversion optimization is the activity every online store owner is obsessed with. CR (conversion rate) is one of the key metrics for evaluating an online store’s success.
What is the eCommerce conversion rate?
According to Google, the conversion rate is calculated by dividing the number of conversions by the number of visitors (in the case of advertising, by the number of ad interactions).
For example, if you had 50 conversions from 1,000 visitors/interactions, your conversion rate would be 5%.
How does conversion rate optimization work?
Conversion rate optimization (CRO) is the process of increasing the percentage of conversions (number of people buying the product) from your website or app. There are several steps to conversion rate optimization. At Leangenix, we incorporate heuristic evaluation with design thinking for best results.
Step 1: Heuristic evaluation. During this stage, we review your site against the rules of thumb to measure the usability of your online store and report issues. The established heuristics (e.g., Nielsen-Molich’s) allow us to uncover insights to quickly fix key usability issues and enhance the online shopping experience. Hierustic evaluation is one of the aspects we cover in our Lean CRO audit. And after implementing the uncovered issue, you can quickly see positive results in conversion increase and user satisfaction. For example, by fixing the navigation issue we uncovered during the audit stage, the novelty beauty site had its conversion increased by nearly 300%.
Step 2: Empathize. At this stage, we research your users’ needs and habits. An empathetic understanding of your customers’ problems and needs helps everyone set aside their assumptions and gain insight into your customers’ true needs.
Step 3: Define. At this stage, we define your customers’ needs and problems you customers might have with your online store and product. The information accumulated during stage 2 is analyzed and synthesized into multiple problem statements.
Step 4: Ideation. With the solid background from the previous stages, we start generating ideas to address any uncovered issues that cause a low conversion rate or low AOV.
Step 5: Prototyping. At this stage, we get ready for A/B testing. We often A/B test the headlines, descriptions, design elements, and features – each addressing a concern uncovered and defined in previous stages.
Step 6: Testing. At this stage, we conduct the tests and analyze the results identifying the winning elements and implementing them in your store. Although this is the final step, conversion optimization is iterative and continues process. Technology is changing rapidly, continuous conversion optimization helps you stay relevant to constantly changing users’ shopping behaviours and stay ahead of your competition. If you are wondering how to improve conversion rate optimization for your store and need professional input, I encourage you to book a free trial Lean CRO audit call.
How to increase the eCommerce conversion rate?
Every online store is unique, and so are the optimization strategies. However, you can look at the most common online store issues, such as confusing navigation, lack of social proof, poor quality creatives and ineffective product description. If you wonder how to optimize conversion for your online store, book our free trial Lean CRO Audit call and uncover five issues causing a low conversion rate to your eCommerce store.
What are the conversion rate optimization benefits?
CRO can help you increase sales, reduce your cost per acquisition and make sure every marketing dollar you spend works in your favour.
By continuously optimizing your online store, you will understand your customers better. As a result, an overall shopping experience will improve significantly and allow you to acquire more customers from the same amount of traffic you already receive.
The main benefit of CRO is that even a slight improvement in conversion rate can result in immediate and tangible profits, just like these results our clients achieved after working with us.
So, do you want to know how to improve the eCommerce conversion rate for your online store? Book a call with us now!