If you ask any successful ecommerce business owner what you could do to instantly boost your online store’s revenue, they’d all tell you the same thing — work on improving your conversion rate.
Think about it: If your conversion rate stands at around 1% at the moment, you’d be able to increase your revenue by 50% just by bumping your conversion rate by 0.5% (which, in most cases, shouldn’t be hard to do).
In this guide, we’re going to discuss six strategies you can use to improve your ecommerce conversion rate with ease.
1. Simplify Your Checkout Process
It’s obvious that online shoppers are having issues with the average ecommerce checkout process, and a large chunk of them don’t have the patience to do everything that’s needed to complete a transaction.
If you want to improve your online store’s conversion rate, you should work on simplifying your checkout process.
A great way to start would be to reduce the number of fields shoppers need to fill out to complete the checkout process.
This shouldn’t be hard since the average checkout form has double the amount of fields than are realistically needed to finalize a purchase.
In most cases, you can safely remove fields such as Salutation, Company Name, and Address Line 2. Depending on how your checkout form looks like, there might be other fields you could remove as well.
Here’s how Crutchfield does it:
Another way you can make it easier for customers to fill out your checkout form is to give them the option of copying their billing information to their shipping details with a single click.
Use more drop-down lists and radio buttons in general, instead of making customers type everything in themselves.
Consider using an address lookup service that can suggest potential addresses to customers when they start typing in their own as well.
Additionally, avoid forcing customers to select the type of credit card they want to use (e.g. MasterCard or Visa) and use a payment processor that can automatically detect this.
2. Enable Guest Checkout
Most ecommerce websites ask shoppers to create an account before they can check out and complete their purchase.
This makes sense since having the customer create an account helps you learn more about them, which makes it easier to sell to them in the future.
However, it’s been shown that 28% of all abandoned shopping carts are abandoned precisely because shoppers didn’t want to create an account, and yet the website asked them to do so in order to check out.
If you want to convert these shoppers, you’ll need to implement a guest checkout feature to allow them to check out without creating an account.
Don’t worry about not being able to learn more about your customers — you can ask them to create an account after they complete their purchase.
Since they already gave you a lot of information during checkout, you can make the account creation process a lot easier for them.
3. Offer More Payment Options
Today’s online shoppers are spoiled for choice, and are very picky about where they make online purchases.
Simply not supporting their favorite payment method is enough to make them decide against buying from your website.
A lack of payment options is among the top ten reasons why shoppers abandon online shopping carts.
According to the latest studies, online shoppers prefer using digital wallets over credit cards when making purchases. In fact, consumers made as much as 41.8 billion digital wallet transactions in 2018.
Implementing digital wallet payments through PayPal, Apple Pay, and Amazon Pay can have a significant impact on your conversion rate.
PayPal is the most popular digital wallet by far. It’s used by 87.5% of all online shoppers.
Considering its popularity, you should certainly include PayPal among the payment options you offer to your customers.
However, PayPal’s popularity isn’t the only reason why merchants should adopt it.
According to a comScore study, merchants that use PayPal Express Checkout experience 47% higher conversion rates compared to merchants that don’t offer this payment option.
The reason for this is obvious - Express Checkout uses information from the customer’s PayPal account to fill in billing and shipping details, creating a faster and hassle-free checkout experience.
Apple Pay was first introduced in 2014. Today, it’s used by more than 441 million people.
Since Apple Pay is obviously a popular payment method among iPhone and Mac users, you should consider adding it to your business’ payment option offering.
Similarly to PayPal Express Checkout, Apple Pay reduces the amount of information shoppers need to enter during checkout by pulling data from customers’ Apple ID account.
Amazon has its own payment gateway called Amazon Pay.
Secondly, it would speed up the checkout process by pre-filling customer’s billing and shipping details by using information from their Amazon account.
4. Optimize Your Website for Mobile Devices
Sixty-one percent of mobile users claim that they’re likely to leave a website that doesn’t perform well on their mobile device. Additionally, 45% of them say that they’d never visit such a website again.
It’s expected that more than half of all ecommerce transactions will be completed using mobile devices in 2021. This might already be the case for your website.
If you want to improve your conversion rate, you need to create a smooth shopping experience for your mobile users. Start by adapting your website to the way mobile users browse the Internet.
Implement larger buttons and input boxes, start using a bigger font size, and leave plenty of white space between different website elements.
This will help to reduce misclicks and make it easier for mobile users to navigate your website.
You should also strive to reduce the amount of information mobile users need to input to check out. Additionally, avoid using popups since they can significantly reduce the overall quality of the mobile shopping experience.
5. Improve Website Speed
With the introduction of 4G (and now 5G) internet, people have come to expect fast web browsing experiences.
As many as 70% claim that website speed has an influence on their buying decisions. Another study has also shown that a mere 100ms delay in page load time can result in lowering conversion rate by as much as 7%.
All these stats make it clear that the speed of your website has a significant impact on your conversion rate, and that you should do whatever you can to improve it.
Here are a few ways how:
Upgrade to a Better Web Hosting Plan
If you’re hosting your website yourself, the first thing you should try is updating to a better hosting plan.
While a dedicated server will be your best option here, VPS hosting can work as well if your website doesn’t generate a large amount of traffic yet.
Use a CDN
A Content Delivery Network (CDN) speeds up your website by serving content from servers that are closest to the visitors’ physical location.
Implementing a CDN can result in a significant speed boost, improving your load time by 30% or more.
Take Advantage of Browser Caching
Browser caching is a technique of content delivery that aims to speed up website load time by storing static content on the user’s device.
That way, the user doesn’t have to download the same content every time they visit one of your pages, which reduces the overall amount of data they need to download to load your website.
Hosting a lot of high-resolution images can slow down your website considerably. If you want to avoid this, optimize the images using a tool like Kraken.io to reduce their overall size without losing out on image quality.
Making the visitor’s browser download a large number of files before loading your website can significantly slow down your load time.
6. Rewrite Your Return Policy
While rewriting your return policy might not be the first thing that comes to mind when thinking about improving your conversion rate, it’s actually an excellent way to ensure your website is able to convert visitors at a greater rate.
As many as 49% of online shoppers check a retailer’s return policy before making a purchase. If your return policy is too restrictive, they’ll simply leave and find a business that offers better terms.
There are a number of ways you can improve your return policy.
Start by extending your return window to at least 30 days and offering shoppers multiple ways to return their items.
With a large percentage of consumers avoiding making purchases from businesses that charge restocking fees and don’t offer free return shipping, you should also consider waiving restocking fees and covering customers’ return shipping fees.
Improve Your Ecommerce Conversion Rate
Improving your conversion rate is by far the easiest way to boost your online store’s revenue.
Depending on how your website is set up at the moment, there are more than likely a number of changes you could implement to increase your conversion rate and generate more sales with your existing traffic. So, put in the work and get started.