Your e-commerce site may already be up and running. Maybe you have just launched a store, your products and descriptions are all listed, and you're ready to go. However, the conversion rate will never be enough. Next, you will learn what it is and how to increase the conversion rate.
Why Does Conversion Rate Important?
In the fast-paced, ever-evolving world known as the Internet, e-commerce stores constantly have to fight to secure and maintain their spot. There has never been as much competition as there is today. This is why it is crucial to keep ahead of your rivals by regularly updating your website to boost your conversions and goals, whatever they may be.
So, what can you do to improve your conversion rate? Before we can begin looking into the different ways you can boost your conversion rates, it is best to define exactly what a conversion rate is for you to understand better what it is and why it is so important.
What is a Conversion Rate?
A conversion rate is calculated as a percentage based on the number of visitors that land on your website / or a page and then go on to complete a desired action.
The conversion rate formula
Conversion rate = (conversions / total visitors) x 100%
As an example, if you had 70 sales and 300 visitors, that would result in your conversion rate is 23%. You would then look into ways in which you could improve upon this.
Conversion rates are a great way to identify your site's current strengths and weaknesses and overall performance. This is why it is essential to clearly define them to ensure they work alongside your e-commerce goals and your business.
How to Improve the Conversion Rate?
Once your goals are clear, conversion rates can be applied to a variety of areas, including but not limited to your:
Marketing Campaigns
Do you run any online advertising campaigns? Which channels work best for you? Have you tried A/B testing different Ads to see which ones perform the best?
Landing Pages
Do you find certain pages perform better than others, and have you looked at the reasons why this might be?
Keywords
Do you run any online advertising campaigns? Which channels work best for you? Have you tried A/B testing different Ads to see which ones perform the best?
*Usually with your desired timeframe in mind – a day, a week, a month, a year etc.).
The Big Audit
To begin optimising your site, a good place to start would be to look at your current data. This audit will enable you to see how visitors currently engage with your site and where you can go on to make improvements.
If you have linked your site to platforms such as Google Analytics, you will have access to top-level data and can even set up your KPIs and conversions to track.
Next, you may need the help of a specialist to analyze the collected data and draw up an appropriate action plan. Contact the experts, and you will receive advice on how to increase the conversion rate and a detailed promotion plan
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