The average e-commerce conversion rate is about 2 percent to 3 percent. The difference between 1% – 2% or 3% can impact the future of any business that is part of the e commerce Industry.
70% of online shopping carts are abandoned after people have placed products within them.
What are the main things to do so your conversion rate will be good enough ?
- First Moments Engagement ( FME)
Improve page load speeds. Actions retailers can take to improve page load speeds include compressing and optimizing images; reducing redirects; caching web pages; enabling browser caching; using asynchronous and defer loading for CSS and JavaScript files; use a content delivery network (CDN); and eliminate unnecessary plugins.
- Be clear and build trust
Include taxes, fees and shipping costs on category and product pages so the shopper knows the true price of an item before adding it to their cart. Minimize cart abandonments and build trust by sharing add-on costs up front and eliminating pricing surprises at checkout.
- Last Moments Engagement ( LME )
LEM – last Moments Engagement – should be seamless part of the checkout process rather than a barrier to conversion. Speeding up the checkout process via guest checkout has proven to increase conversion rates. Signing up for an account on the confirmation page with a simple click – can be a great Idea in this section .
- Friendly Payment Methods
Users prefer to have multiple payment options. The more ways a consumer can pay for their online purchase — credit card; mobile wallets such as Apple Pay, PayPal, Venmo; buy now, pay later; cryptocurrency such as Bitcoin etc.
- Post-Checkout
Invest in First Party Data – this is data that is collected by your system . that is the most important component in any Product, Operation and Marketing strategy . Create customer accounts using data already provided during the checkout process (e.g., payment, shipping address). This data can be integrated with loyalty programs for a more holistic understanding of the customer.
Follow up with cart abandoners. Users prefer one one-click checkout or even zero clicks order ( via voice services such as Alexa)
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