Conversion rates refer to the percentage of store visitors who complete a desired pre-defined action.
There are currently over 12 to 24 million eCommerce sites globally. It can thus be challenging for your dropshipping store to stand out.
Customers are spoilt for choice and can check elsewhere at the slightest dissatisfaction. They reportedly search about 3 websites before they buy.
With these insights in mind, this article will show you why your conversion rates are essential. You will also learn how to improve them using the best strategies.
Conversion rate metrics
You get conversion rates by taking the total number of conversions over the total number of visitors.
Conversion rate= Total number of conversions * 100
Total number of visitors
The average conversion rate is about 2.58% in 2020.
Why increasing your conversion rates is important.
Conversion rates are critical for your site’s overall performance. Therefore, websites that focus on optimizing conversions are bound to realize higher ROI and sales in the long run.
Improving conversion rates is a sure way to increase sales to your dropshipping store. You must focus less on driving more traffic. Instead, work on increasing the current visitors’ conversions. Increasing revenues subsequently brings higher profits.
High conversion rates provide the opportunity to use retargeting. Since customers are more familiar with your store, they are more likely to buy.
Research indicates that it is a lot easier for previous customers to buy than new ones.
To retarget, you must first make sales. It thus becomes critical to improve the conversion rates on your dropshipping store.
Increasing your conversion rates reduces the potential costs of continually attracting new customers. Marketing, SEO tactics, etc., make up most of the expenses for your dropshipping store.
However, they only bring quality traffic to the store. If you focus on improving conversions, you can make more sales and revenue with less costs.
Improve user experience
Conversion rate optimization provides the opportunity to improve your store’s user experience. When the store offers value to visitors, it increases the incentive to return. Customers can also recommend others. In the long run, this increases store traffic, revenue, and sales.
Key metrics that influence conversion rate optimization
The bounce rate indicates the number of people who leave soon after landing on one page. A higher bounce rate is a bad sign. It usually indicates that users did not immediately find what they were seeking.
The Exit Rate
This rate represents the people who leave on a particular page. Like the bounce rate, a high exit rate is a bad sign. It can also tell you the page from where users most exit the website. When optimizing your site, you should focus on these pages.
The click-through rate refers to the number of people who click to your site from another platform. Most ads on Google, social media focus on getting users to go to your site. This figure thus helps you check if your marketing tactics are effective.
Average Session Duration
This metric shows how long users are staying on your site. Low average session duration is a bad sign.
When customers leave too fast, they cannot last long enough to convert. Short durations could be an indicator of poor user experience.
Average Page Depth
The average page depth shows how many pages a user visited before leaving the site. In Google Analytics, it is Average pages per session.
Higher average page depth can be a good sign as it shows that customers stay longer. Yet, if high conversions do not go with it, it could show poor customer experience.
10 Ways to increase conversion rates
1. High-quality images and videos
Online shopping comes with a lot of skepticism. Customers cannot physically see or touch the product they want to buy. So, they must rely on what you show them.
To increase the chances they will buy, it is critical to use high-quality images and videos. Doing so assures customers of your products. Customers become more likely to choose you over a competitor.
Compare these two product images..
2. Competitive pricing
Your products must be at great prices for conversion to improve. Customers reportedly check about 3 different websites before buying. So, if your prices are high, they can easily buy from another store.
When creating a pricing strategy for your dropshipping store, research your competitors, and see what they are charging.
3. Optimize the checkout processs
21% of customers abandon the cart because of a long and complicated checkout process. So, make the process as simple as possible. It would encourage your customers to complete purchases. Best practices recommend using a single page checkout.
Also, allow buyers to purchase as guests. Understandably, most people may not be comfortable giving you all their details on the first encounter. Forcing them to do so reduces the chances of them buying.
Furthermore, provide multiple ways for customers to pay. Many visitors may abandon the purchase altogether if they can’t find a convenient way to pay.
Use many of the most common methods like Visa card, Mastercard, Paypal, etc.
4. A/B testing
You can increase conversions on your dropshipping store by regularly testing different options.
You have options to test headlines, call to action buttons, page designs, etc. By doing so, you can tell which elements resonate with your customers.
It helps you provide a good user experience that could eventually encourage purchase (conversions)
5. Offer free shipping
Reports indicate that 61% of customers abandon the cart because of shipping costs. Such happens even when the price is a bit higher than competitors.
Therefore, you must offer free shipping and advertise it across your website. It would help you increase conversions.
You must use retargeting tactics to increase the conversions in your store. Old customers are more likely to buy and even spend more money.
So, it’s a good idea to reach out to these customers. Present them with new offers, discounts and complimentary products. Doing this increases the likelihood of them buying, which in turn increases conversions.
7. Cart abandonment software
Cart abandonment occurs when a buyer visits your site, adds an item to the cart, and leaves before completing the purchase. By using cart abandonment software, you can increase conversions from such customers.
If users leave their contact information, then the software can help to re-contact them. It allows you to create and send emails, reminding the customer about their incomplete purchase. The emails can offer additional help or incentives.
Many eCommerce platforms offer cart abandonment software as part of their features.
Ecommerce statistics indicate that over 41% of abandonment emails get opened. So, this is a significant way to increase conversions.
8. Website user experience
To increase conversions to your store, you should ensure that the site layout is well optimized for the user.
You must structure your pages in a way that makes it easier to find what they are looking for. Otherwise, they may leave and not purchase anything.
Use as few levels as possible so that the user can easily find what they are looking for. A site search area could also help consumers find products faster.
Show shopping carts. Include a link that customers can go to complete the purchase. Remember that if they can’t find the cart, they cant complete the purchase.
Furthermore, include detailed product descriptions to show customers exactly what they get. Doing this helps them make an informed decision. Consequently, there will be fewer returns.
9. Include reviews and testimonials
Customers rely on reviews and recommendations from peers or other buyers. Therefore, to increase the likelihood that they will buy from you, you must have them in your store.
Testimonials add credibility to your offering and give customers more confidence to buy.
10. Return policy
Online buying comes with a lot of uncertainty. So, it helps to reassure your customers that they won’t make a total loss if they are not satisfied with the purchase.
40% of customers buy more from stores that have a clear return policy. This reassurance encourages them to purchase, thus increasing the conversion rates.
Ecommerce conversion rate Tools
To analyze your store and identify areas for improvement, you need the right conversion rate tools.
Some of the best tools include:
To effectively optimize your dropshipping store to increase conversions, you need as much data as you can get. Google Analytics is the best place to get that data.
When you set up your store with Google Analytics, you gain access to data and insights like:
- Number of visitors
- How visitors found your site
- Where visitors came from
- Number of unique and returning visitors
- How long visitors stay on your site.
- How many visitors converted
One of the biggest pros of Google analytics is integration with other marketing platforms.
This software provides you with the information you need to start optimizing your site to improve conversions.
Hotjar is a heat mapping tool. It helps you analyze the behavior and interactions of visitors on the site.
Hotjar analyses cursor movement, clicks, scroll-depth, real-time behavior, even with session recording.
The platform is highly accessible. Pricing is affordable, from personal users to multinational enterprises. It also integrates with major eCommerce platforms and can capture up to 10,000 page views depending on your plan.
Hot Jar’s heat map insights enable you to make informed adjustments to your site to increase conversions.
Quantcast Measure is a tool that provides you with free insights into your audience. The deep insights include data about your audience demographics, site usage, etc.
The information is useful for targeting and drafting business solutions that appeal to your ideal audiences.
The platform offers a free version that you can start with. Afterward, it costs $19 to $499 a month.
Crazy Egg is a comprehensive conversion tool with over 300,000 users. With this tool, you get heat mapping, A/B testing, user recording, click maps, among others.
The data reports help you know where your visitors are coming from, what picks their interest on the site, where they fall out, etc. That way, you can make informed changes to your site elements.
Crazy Egg is also quite affordable, offering a 30-day free trial, after which it costs $29 to $249 a month.
Yotpo is a product review/social proof program that you can integrate with your dropshipping site. It allows your buyers to leave reviews about their purchases.
As discussed before, reviews greatly influence customer purchase decisions. They add credibility to your store as well.
The Yotpo software also offers an attractive display of the reviews. You can choose to incorporate the reviews into pop-ups. You also get to share them across your different sites if you have more than one.
A free trial is available, after which pricing starts at $29, depending on the features.
Converting your current traffic is better and more cost-effective than attracting new traffic to your dropshipping store. With the strategies above, you will be able to maximize conversions with your current visitors.
Give your visitors what they want. Enhance your website’s usability, and continuously test your methods’ performance.
There are several tools available for analyzing your traffic and get feedback from them.