4 Steps to Increase Conversion Rates in Retail

steps-to-increase-conversion-rates-in-retail

If you are looking to sell your products, particularly in an ecommerce setting, conversion rates are crucial metrics. No matter how much you succeed in marketing and attracting attention to your website, that recognition won’t matter if visitors don’t convert to customers. To help increase your conversion rates for ecommerce retail shops, follow these four steps.

Steps to Increase Conversion Rates in Retail

Step 1: Shorten Your Emails

If you are looking to sell products online, ecommerce email marketing is probably one of your core strategies. However, if you don’t do it right, this tactic might not help increase your retail conversion rates. A study by MarketingSherpa found that the average email open time is only 15-20 seconds, which leaves your audience just enough time to scan approximately 50 words in total.

If you don’t convince your audience to click on a link and take the next step in the buying your product during those 50 words, you probably won’t get the results you’re looking for. Shortening your text to make your message more concise is crucial to improve your ecommerce email marketing efforts.

Step 2: Improve Product Content

However, even after a potential customer visits product-specific pages on your retail website, chances are they’ll still need convinced that your product is right for them. Creating compelling product content can make a major impact in helping visitors hit that purchase button quickly, and ultimately reaching your end goal of increasing conversions.

Ideally, that content should include 3 major components:

  1. An image that both presents your product in a compelling way and visually communicates its value.
  2. Vivid copy that expands on the image, selling the features of the product without exaggeration.
  3. Social proof, such as customer video testimonials and written reviews, that add credibility to your claims about the products’ features.

Step 3: Prioritize Shopping Cart Abandonment

A major culprit for your lack of conversions is likely the shopping cart. While you may get a great number of visitors to add products to it, only a small portion of them actually follow through with the purchase; in fact, on average, more than 68% of visitors abandon their cart.

Taking actions to lower your abandonment rate is a crucial part of increasing conversion rates in retail, especially in ecommerce. Convoluted pricing presentation, long page load times, costly shipping prices, and long checkout processes (such as requiring user registration) can all contribute to users leaving your website without purchasing.

Fixing these issues is a great first step, as is following up to users with items in their cart via email or retargeted advertising. The more users you can encourage to complete their purchase, the higher your retail conversion rates will be.

Step 4: Continuously Analyze User Behavior

A crucial part if increasing retail conversion rates is ensuring you know, and can quantify, your users’ behavior. For example, improving your shopping cart abandonment rate is only possible if you can measure where you stand with customers and how efforts, such as following up via email, can improve your conversions.

To help you in the process, Shopify released a list of three analytics reports to improve your e-commerce conversion rates. Understanding the terms for which your audience searches, the pages from which they most commonly exit your website, and what percentage of your visitors are returning, can all help you better understand customer behavior on your website, and take action as a result.

The Key to Improving Conversion Rates in Retail

Ultimately, knowledge is key. The more you know about your audience, and why they convert or don’t convert to customers, the better action you can take to improve your numbers. Of course, working with marketing experts who can help you improve your efforts and grow your ecommerce business is just as important. Contact us today to get started.

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