Increase the conversion rate of your e-commerce website with these 5 strategies and convert your target audience into paying customers.
Like how there are countless fish in the sea, there are also many e-commerce websites on the internet. When the COVID-19 pandemic began, more and more businesses digitally transformed to stay afloat in Singapore. The good news is that Singapore has grants to support small medium-sized enterprises (SMEs) in setting up their e-commerce websites.
The problem, however, is that converting customers has become even more challenging. Since consumers have more options for e-commerce websites to buy from, you will need to exert more time and effort guiding your customers in their purchase journey to stand out from your competitors.
Businesses use the customer purchase journey method to know where their target audience is in the buying process so they can direct them to the next stage and eventually convert them.
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As you have learned from previously shown YouTube video, the conversion stage is the third stage of the customer purchase journey. At this point, your target audience is now starting to trust your brand, including your products and services.
That means they have already decided what they want from your e-commerce website. The only thing left is to ensure that what you are selling can satisfy and meet the needs of your target audience.
Essentially, the conversion stage is responsible for gaining the trust of your customers and ensuring they would buy from your e-commerce website.
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When it comes to shopping, customers are always looking for the best solution for anything they need before making a purchase. Doing so helps guarantee if they will benefit more from it or not.
For example, before making a purchase on an e-commerce website, most consumers will check if they have to pay for the delivery service fee. If they have to pay more than usual, they might look for another e-commerce website that offers the same item but with lower or no delivery charges added.
Most thriving e-commerce websites seize that opportunity by magnifying their unique selling propositions like discounts, promotions, or anything else of worth. If done right, they will be able to set their online shop apart from their competitors.
Even though this concept looks like you are on the losing end of the stick with their freebies, research done by Blippr found out that 29% of online shoppers make a purchase even if they did not intend to do so in the first place.
Since the majority of people value convenience and affordability, you can expect to receive more or less the same percentage of conversions. Offering free delivery, free consultation and free samples, etc., are some unique selling propositions that can help increase the chances of conversion.
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The concept of shopping continues to evolve as more people shop online and the e-commerce industry grows more. Since almost everyone is on social media like Facebook and Instagram, allowing consumers to shop on these platforms helps increase conversions.
Instead of going to an e-commerce website of a consumer’s preferred brand, they can browse and purchase straight from the brand on social media. This option saves the time and effort of consumers and even encourages them to shop whenever they are using social media.
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When it comes to increasing conversions on an e-commerce website, the impact of social proof is massive. In marketing, social proof is positive feedback from consumers that show their satisfaction with a product or service.
84% of consumers tend to trust a brand more when they have seen recommendations from people they know, according to survey research done by Nielsen.
Displaying social proof, however, does not end there. It is discovered that 70% of online shoppers read online reviews left by customers who previously bought the item or service before purchasing it themselves.
In other words, customer reviews can highly encourage anyone to make a purchase.
Read More: SalesTechStar Interview With Garient Evans, SVP, Identity Solutions At Trulioo
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Even though it is not too hard to sign up and create an account on an e-commerce website, not everyone has time for that. Everyone’s time has become more precious with a faster pace of living.
Instead of spending their time filling in their particulars on an e-commerce website, they prefer using that moment to check out and make payments for the item they need, especially in the case of an emergency.
E-commerce websites that have complicated and long sign up processes tend to experience more cart abandonment. According to Shopify, creating an account is the second reason why consumers abandon products they added to their shopping cart.
To address this issue, consider allowing guests to checkout without signing up for an account. That way, they can proceed to make a purchase and continue to sign up the next time they have more time to explore your e-commerce website.
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Another way to increase conversions and solve cart abandonment is to re-engage with them through remarketing.
Remarketing is a digital marketing strategy that allows you to target visitors of your e-commerce website by tracking them down using web cookies. The web cookies will relay to your chosen remarketing platform like Facebook or Google to display ads whenever the customer is using the platform.
For example, a customer uses Facebook after browsing through your e-commerce website. If they did not buy anything, you can use remarketing to display your ads on their news feed to remind them about the item that caught their interest.