Conversion Rate is King in eCommerce

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A quick guide on the importance of Conversion Rate for eCommerce. It includes a cheat sheet of 22 important factors.

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Conversion Rate is King in eCommerce

  1. 1. Conversion Rateis King for eCommerce
  2. 2. eBusiness Consultant beebusiness.gr@pgezerlis
  3. 3. What is Conversion Rate?
  4. 4. In my understanding convert or noconvert is like get a date or “hilopita”
  5. 5. Thank God that girls say „Yes‟ to datingpropositions more regularly than visitors convert to an action on-line (Otherwise 95%+ of the times you ask girls out, they would turn u down!)
  6. 6. Question: is it so important to have a 2% conversion rate, vs. 1%? Just do the math:(The suggestion here is to hire a Web Analytics manager. If you are an eTailer with 2.500 visits / day, you will most probably make 6 times his/her salary in annual profits!)
  7. 7. (…but don‟t forget to respect the Web Analytics function) From: dilbert.com by Scott Adams
  8. 8. „Cheat sheet‟ of the top-22 factors that influence your conversion rate (if you take care of them daily, you will see a 100% increase in conversion in 2-4 months)1. scope of visit (maybe visitor came for 11. personalization of call-4-action message shipping info only) 12. usability of site2. psychology of user before visiting (in some 13. product reviews & ratings are great! ways you can influence this  Branding! 14. landing page design3. sector (eg. Clothes 2% - Cars 0.2%) 15. speed of site4. pricing of products (level + how u communicate pricing) 16. trust symbols everywhere in your pages5. competition (helps if there‟s an oligopoly) 17. not showing policies up front (eg no- returns accepted for open packages)6. source of visitor (e-mail 3% - cpc 0.7%) 18. not showing extra charges up front (for7. quality of your content (texts & photos) example shipping cost)8. 1-step check-out page (otherwise ↑ cart 19. unclear shipping charges (make them abandonment rate) 100% clear for all users & all products)9. guest check-out (+10% in conv. rate) 20. show urgency (eg only 1 item left in stock)10. buy-button size-color-placement-design 21. offer all payment methods (PayPal too)11. live-chat can convert a ready-to-buy client 22. offer all delivery methods & pickup times
  9. 9. OK, I am convinced, tell me where to start to improve my conversion rate…1. Learn how to use Web Analytics (not just read, but use Google Analytics). Register for eLearning seminars or attend courses.2. Study the pages of famous international eTailers in your sector (eg, asos.com in fashion eTailing). Many secrets are hidden in their design.3. Hire a Web Analytics manager (if you target >€1Μ annual revenues)4. Perform A/B testing, do quick & dirty focus groups, place questionnaires in your site to get valuable customer feedback.5. Read great books like this and great blogs like this.
  10. 10. eBusiness Consultant beebusiness.gr@pgezerlis
  11. 11. Conversion Rateis King for eCommerce

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