Ecommerce is fast becoming the dominant channel for businesses to make sales. In this crowded world of ecommerce, online vendors are becoming increasingly competitive. Businesses need to cut through the noise to stay in a customer’s head.
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Why conversation rate optimisation is vital to online growth for businesses
1. Ecommerce is fast becoming the dominant channel for
businesses to make sales. In this crowded world of
ecommerce, online vendors are becoming increasingly
competitive. Businesses need to cut through the noise to stay
in a customer’s head. The challenge for digital marketers is
they must consistently outperform competitors. Staying
ahead of rivals has become much harder with the
proliferation of choices now available to consumers online.
So how can companies continue to grow their online
presence?
The best way to attract customers and keep them hooked is
by improving current websites and adopting a conversion
rate optimisation (CRO) strategy. The goal of CRO is to
maximise revenue by either increasing the conversion rate
(defined by orders/traffic) or increasing the average order
value (AOV).
2.
3. Digital marketers should expand their thinking around
revenue sources – there’s more to this than just website
traffic. As customers move through each stage of the
digital commerce lifecycle, there is the opportunity for
them to either abandon or convert.
How can businesses increase conversion rates?
Optimising for conversion involves removing friction
and distractions which could prevent a shopper from
completing their online order. Below are a few tips which
an online vendor should follow to help improve
conversion rates:
From the user’s perspective look at web design, user
interface and purchase funnel. How many steps/clicks
does it take to go from the home page through to the
order confirmation?
Localize language, payments, currency and cultural
preferences. For the eyes of the global buyer the
shopping cart and purchase flow need to be localised.
Time current page loads and access how long it takes
to go through the purchase process.
4. CRO is increasingly becoming valued by marketers who
are data and customer driven. Every day, businesses deal
with demanding customers who want solid online user
experience and demonstrate to customers they made the
right choice in using a specific vendor.
CRO has the highest return on investment over other
marketing programs. It can increase revenue up to 20%
and reduce the cost per acquisition (CPA) by converting
visitors that businesses have already paid for through
PPC, SEO, email and content marketing.
More and more digital marketers will be looking to
adopt CRO, so why not get ahead of the competition and
make the first move by implementing a CRO strategy
before rivals do? For it is better to be ahead of
competition rather than lagging behind.