What are your thoughts when it comes to increasing your website revenue?
Most people instantly think of increasing traffic. And even this seems to be a good idea, the problem is that traffic itself can’t guarantee any revenue. What you should do is make sure to focus on conversion rate.
A conversion rate is the ratio of your website visitors that fulfill your desired action, like purchase or subscription. The average conversion rate in e-commerce is around 2%, so increasing this up to 4% means having 100% uplift in revenue.The average conversion rate in #ecommerce is 2%, so increase it to 4% and you will have 100% uplift. Click To Tweet
There is no step by step guide on how to increase conversion rate, yet there are tips and tricks used by best e-commerce experts that will help you to significantly increase your website revenue.
The very essence of raising conversion rate is the ability to verify your decisions. Every adjustment you make to your website have either positive or negative feedback and, in both cases, you would like to know the answer.
This is where A/B testing comes into place as it allows you to quickly receive measurable results by applying your changes only to a portion of users and see their reaction.
For non-professional web marketers, the hardest part of A/B testing is not about setting the mechanism to work. It’s about a determination of the scope and creation of test scenarios that do not overlap. There is no sense in verifying tiny changes and it is a wrong path to test huge changes.
With A/B testing in place you are able to test any changes you make to your website, so before jumping to the next website conversion rate tips it is a good idea to introduce it on your website.
Time is money’ and most of us are afraid to miss an opportunity because of delay. This is a simple mechanism that can help you significantly increase the conversion rate by rushing your customers to make a purchase.
The approach with limited time offers is widely popular across e-commerce when it comes to booking or huge e-commerce stores. If we’ll check an average hotel booking platform we will find plenty of tricks pointing us towards a lack of time. ‘Only 2 rooms left’ or ‘Today’s Special’ are strong triggers that push us to make a decision instantly (sometimes without even checking on competitors.)
Limited amount offer is another widely popular method as it is obvious to grab a piece of cake for a better price. Often spotted in the startup world, limited amount offers are followed by a strong call to action not to miss a deal. And again, we don’t want to miss a deal …
Beware of pushing your customer to purchase, sometimes it takes the wrong turn to instantly point them to your ‘Buy Now’ button. Instead, you should create a smart sales funnel to go through all stages from awareness and interest up to the actual sale.
The more advanced your product is, the more time your customer will require to make a decision. You won’t make an expensive purchase within a few minutes.
With a sales funnel in place, you can start by attracting potential customers through other resources. A blog is a good example on how to keep your customers aware of related topics and build strong relationships.
In between the articles from your blog you can start raising interest about your products or services and at some certain points – offer to try a demo, followed by actual conversion.
There are plenty of sales funnel scenarios out there, based on different preferences, yet still one of the most efficient is e-mail campaign. By using an automated e-mail campaign, you are able to move your customer from the awareness stage to conversion with the help of around 7 e-mails.
There are certain reasons why potential customers turn away from your website before making a purchase. While there are reasons you are not able to impact, there is a question of lack of trust.
It could be so that your potential customers simply don’t trust your website. And this is the place where you can improve to change things around.
How do you build trust in your website? There are specific things you can start with to see instant improvements.
First of all, you should make sure that customers have an easy way to get in touch with you. Never hide behind a wall of infinite e-mail loops and show that there are real people behind your organization.
Make sure that all the information on your website is trustful and easy to verify. Add reviews of your products and point out independent sources of information, if possible.
Be sure that your website is error free and all information is fully secured. And if you are offering any kind of online payment options, it is a good idea to verify them via third party certification and quality controls.
Easy to buy
If your visitor is ready to make a purchase, you have to make sure that this is a hassle free process. Multiple options and steps will surely raise frustration and you can end up with nothing because of some extra steps you thought was so important.
Always look at the things from your own perspective as a customer. Would you like to spend 10 minutes of your time to fill up some forms just to grab a piece of software online? Just as I thought, your answer is ‘No’. Well, guess what, your customer may have the same feelings about your product as well.
One of the first things to do is clearly define path your customers need to follow to make a purchase. A clear ‘Buy Now’ button can do the job and lead your customer to an actual sales page.
The sales form should have as less information as possible, there is no need to ask for any personal data unless you need it for verification or some sales analysis. And even then, consider cutting edges and do more with less.
From my own experience, I love how easy it is to purchase Sketch App as it takes less than a minute to get my license and I wish that all my purchases were so easy.
It’s about added value
How do you choose things? A simple list of features is enough to get you to spend your money? We tend to choose things that give us added value or at least pretend to do so.
It is not enough to simply list technical details and hope that it will work. This is why our pockets are stuffed with iPhones instead of poor copycats. Great products offer great added value and status for their owners. We don’t need an office chair for just sitting, it should offer comfort and probably look good enough to fit into our interior.
A product description and representative images is a great way to communicate added value to your customers. Show them how they might feel about having your product and the story of success associated with it.
Remove any distraction
There are certain scenarios you wish your visitors to follow to complete your website goals. These scenarios will essentially lead them towards making a purchase or subscription. The worst thing that could happen is that they are getting distracted by your own website.
Make sure to define borders between your own content and any ads that could lead your customer away. Of course, there are cases and business models where ads is a must, but even then you have to make sure that your information is easily accessible.
Never overwhelm your pages with tons of outbound links as it will make you harder to guide visitor across your website. If you are on a sales page, under the best scenario, ‘Buy Now’ button should be the only clickable option available.
Always ask yourself if this is the feature or option that will help you raise conversion rate.
Know your competitors
Competitors can determine your progress in terms of delivering top notch features and methodologies you use when communicating with your customers. The stronger competition, the better products your customers will receive as none would like to fall out of the overall picture.
Knowing what are the core features and marketing strategy of your competitors is a must. Your potential customers will compare your products with alternatives. Make sure to stress out your advantages and look for ways to offer extra.
In a battle of competition, even a small tweak can improve your conversion rate. There are plenty of things that will cost you almost nothing to be added or improved, but these things can make a significant impact.Even a small tweak can improve your #website conversion rate and it will cost you almost nothing. Click To Tweet
Remember, your competitors will also work towards better conversion rate and investigate your website as well. What you can do is adapt to the ever-changing environment and follow the guidelines of conversion rate improvements.
Start improving your conversion rate
The tips you’ve learned from this article is a great way to start your improvements right away. In addition, I encourage you to share your own experience and tricks you use to improve conversion.