Over the past decade, e-commerce has risen to prominence in all industries. The marketplace has taken a swift turn to digital platforms, and it looks certain to continue that way. Worldwide e-commerce sales are set to hit the $4.1 trillion mark by the end of 2020.
Although there are opportunities within the world of online selling, it is an extremely competitive market. It’s vital for companies to carefully adjust their strategies to cater to the digital marketplace.
E-commerce conversion rates are increasing on average. However, a big reason for this is that larger companies are making a concerted effort to push online sales. Many SME’s (small and medium-sized enterprises) are not experiencing a conversion rate spike.
In a rapidly expanding market, here are six essential tips for increasing conversions for your e-commerce business.
Use analytics and be data-driven
In the digital age, it’s vital for businesses to become data-driven. When it comes to e-commerce, this is even more important. Any e-commerce business generates a huge amount of data relating to sales, marketing, and customers. This should be carefully analyzed and used to make decisions and to create future campaigns.
Have a well-designed website
A slick website with a clean look and high functionality is an absolute must for any e-commerce business. The site should be easy to use, customer-focused, and it should have adequate call-to-action.
The buying process needs to be optimized to make the customer journey easy and stress-free.
Consider hiring a website design and development professional to ensure that your site is at the level it needs to be.
All website, social media, marketing, communication, and advertising content should be of high quality. This can be achieved through research, SEO, and excellent copywriting.
High quality and authoritative content rank highly on Google search algorithms, maximizing its effectiveness.
Use targeted social media ads
Social media advertising is a cost-effective way of reaching your target market, particularly when you are directing them to your online store. Facebook and Instagram allow you to target specific demographics with your content, giving you the best chance of conversions.
Social media campaigns can be analyzed thoroughly, providing you with valuable data.
Offer excellent customer service
Creating a loyal customer base is arguably the best way to sustain consistent sales figures. Good customer service gives your e-commerce business a familiarity that people can relate to. Customers want to feel valued, so customer service can be a powerful tool to increase conversions.
Some simple ways of establishing excellent customer services are:
- Install a chatbot on your webpage.
- Communicate with customers via social media.
- Allow customer feedback.
- Have straightforward returns policies and procedures.
Offer free shipping
Free shipping is one of the most important factors for consumers when determining whether or not to purchase online. It could be the difference in making a sale or not. In fact, 90% of shoppers claim that free shipping is the main incentive that would encourage them to purchase more online.
Free shipping costs can be covered, meaning your company doesn’t have to take a big financial hit.