The most important metric for an ecommerce brand is your conversion rate. Conversion rate is the number of people out of 100 who make a purchase on your site.
Its importance is obvious, however it’s inner workings are not.
The rate at which people buy on your website is a result of countless little micro-interactions, some conscious, some unconscious. Just like you’d buy a car, there are many questions you want answered, as well as subtle cues take note of before you actually write the check.
To increase your ecommerce store’s sales you must increase your conversion rate. Jonathan Maxim, who runs an eCommerce performance marketing agency called K&J Growth Hackers explains the most effective methods for 2021 that can double your sales in just 30 days.
Pricing, Promotion and Offer
There are several hacks you can apply to get quick results. This is the fun stuff. However, it can’t be a crutch. Your product needs to sell itself to their friends, once users try it out.
First, as you maybe learned in marketing class, pricing and promotion are incredibly important. If your competitor is selling a comparable product for $50, and yours is $60, you need to be able to clearly explain to people why you’re $10 more. Think of how you can quantify that value, by either buying customers their time back, or making their life easier.
However, Jonathan explains there are small tweaks can make establishing this value for customers easier. These often relate to urgency and scarcity.
– Slash prices (have a red strikethrough MSRP of $100, and put your price as $60)
– Offer users $5 off in the shopping cart if they buy within 15 minutes
– Add a limited supply number next to the “in stock” like “7 units left, order now!”
– Add mentions of security, trust and validation IN the shopping cart, like “PCI Certified, 100% secure payments” “Made in USA” “Ships Fast – 7 days or less” and so on
– Offer discounts for bundling or adding on items in the cart
These tweaks affect the conversion rate once the user is already committed to buying. Therefore you’re adding wind into the sails of your customers, and leveraging already trigger-happy traffic.
Site Design and User Experience
This one is constantly evolving, so it’s important you follow trends as they shape how we design websites for the purpose of selling products.
The flow, or steps that users follow to make a purchase is what needs intention behind it. Generally, fewer clicks is ideal. However, key sales milestones still need to be hit.
So when you’re designing your ecommerce website or landing page, take into consideration:
– What stage of the funnel your traffic is in (awareness, interest, engagement, conversion)
– If the traffic is coming in hot (engagement or conversion level) the messaging should be more action oriented
– For colder traffic, focus on teaching users about the problem you solve
– In the process of selling, the users need to believe the brand is legit, and trust the product will solve their exact problem
– Generally users need 5-7 marketing touch points before making a purchase
Jonathan recalls a CBD client whose site they redesigned “Our client increased their monthly revenue 2.35X after we redesigned it. Before, it was simply their two products on a single landing page. This works well for bottom of funnel (conversion traffic), but is not effective for higher funnel traffic, like first time visitors. So we added product benefits, press mentions, testimonials, and redesigned the aesthetic”
The result is that new users now trust the company more because they can see it’s a legitimate company, with real happy customers and proof to back it all up.
Applying these tweaks to your eCommerce brand
If you’re like most eCommerce companies, your store is on Shopify. Thankfully, this platform has a huge store of plugins and makes it possible to do nearly anything you can imagine.
However, if you haven’t done this type of thing before, it may be worth evaluating experts for their help.