Be it an eCommerce website, auction website or a simple web store, the conversion rate is an important factor for all website owners. It is one such parameter that help website administrators to take necessary actions and plan their duties ahead of time. As the eCommerce trends and practices are reaching a new high, it is necessary to do conversion tracking and increase conversion rate. So without further ado, let’s find out how important this parameter is for web-stores.
What is conversion rate?
To lay it down in simple words, the conversion rate is the ratio of the number of people who take final action at your website to the total number of visitors. So while calculating the rate, we divide the number of visitors who actually completed their transactions to the total number of visitors.
Every eCommerce owner should strive to push their conversion rate as much as possible. But due to some inevitable reasons, you can’t push the conversion rate to 100%; shopping cart abandonment being one of the primary reasons behind this.
How to increase conversion rate?
Even if you create an elegant glitch free, high-performance website, you can’t ensure a high conversion rate. You need to make sure that you pay equal emphasis on attracting new customers as well as strive to keep alluring your past customers and those visitors who visited your website without completing a transaction or taking an appropriate action. There are a number of ways by which you can increase conversion rate, especially by attending to the customers of all tiers, namely new, existing and returning.
User Reviews – Authenticity, that’s all every customer desires. By providing the option for users to add user reviews, you can get honest feedback from your existing customers, which in turn would provide traction for new and upcoming visitors as well.
Customer service – You can provide a number of FAQs addressing the general question related to various important actions of your website so that your customers can relieve themselves of the ambiguity. It also instills trust amongst your customers and provides confidence in completing a transaction.
Active live help – To eradicate any room for error you can provide live chat support as well as a toll-free number to resolve any or all of their queries. You can even occasionally send them emails stating various offers at your website to ensure their visit.
Should conversion rate concern you?
From a business perspective, the conversion rate is just a numeric indicator that showcases how often your visitors indulge into buying your web store’s products. As your popularity increase, your conversion rate is bound to go down and there is nothing much you can do about it. For example, if you compare Amazon with Yepme, the conversion rate of Yepme would be much higher than Amazon, as the number of visitors is much higher for Amazon. But when it comes to revenue, Amazon is way ahead of the later. So, you should take conversion tracking just as a parameter to measure your growth and how fruitful your approaches are while connecting to your audience. As conversion rate also takes into account returning customers and traffic from other links, the conversion rate is bound to contain a lot of noise and can’t be taken as an actual indicator of your website’s progress.
