The conversion rate is the number of passive shoppers getting converted into absolute customers. It demonstrates how the store has been successful to meet the customers’ needs. The conversion rate can also be defined as a rate of quality of visitors experienced on the store site.
There are a number of factors that can impact the rate of conversion on the Magento e-commerce site. It is important to identify the absolute reasons through in-depth analysis as to why there are low conversions or no conversions at all. Effective remedies need to be evaluated depending on the outcome of the analysis to improve the conversion rates of the store site.
The conversion rate as per the industry standard varies between the different sectors namely, food & beverages, electronics, health & beauty, sporting goods, apparel & accessories, home & garden etc. The current industry average for conversion rate ranges between approximately 3% and 12% for the average sites and the top 10% of the e-commerce sites. Attainment of an average conversion rate may not be sufficient for an ecommerce store to sustain itself. Each one needs to concentrate on modes of operations of the top 10% ecommerce stores and develop new strategies to maximize the conversion rates.
Out of the several platforms used, Magento has been one of the most efficient and preferred e-commerce platforms.
Improving the conversion rates for Magento e-commerce sites can be carried out in several effective ways:
With the increasing awareness and accessibility of technology, the users are socially active and associated with several social media sites. By opting for social logins, e-commerce sites can increase the visitor traffic associated with the social media and on the other hand, the customers are benefitted with a simple and time-saving registration process.
The Magento e-commerce sites are equipped with a clear user interface to allow great user experience. The navigation options should be clear and should have different symbols and colours to differentiate between critical buttons.
Customers are the key focal point for any business. A better-treated customer always chooses to make a deal with the merchant, rather than spend time trying out a new merchant. Therefore, a loyal customer is the biggest asset for any supplier. It is advisable to implement different reward programs for such customers periodically. One satisfied customer can be equal to a number of opportunities to increase your customer base.
For the popular products, it is advisable to allow back order in the case of the products that go out of stock. This helps retain loyal customers with you for a long time as well as the potential customers visiting your site. Using the Magento development, it is easier to present the information using the Backorder extension using special symbols and information for such products with the availability timelines.
Customers prefer the sites which display the entire transaction costs including shipping in a transparent manner. It is also observed that the e-commerce sites that offer free shipping over a completion of a certain amount of shopping usually attract more customers. Magento development includes the shipping calculations within the e-commerce platform which offer various shipping options along with the associated rates.
Speed for navigating through the site is an essential factor for retaining a visitor on your site. Effectively optimize the site by compressing the images, selection of efficient hosting providers, JS and CSS compression etc. Periodic up-gradation of Magento can help build an e-commerce platform with better performance optimization.
The calls to actions (CTAs) should be distinctively placed and easily accessible to the customers. The Magento customization tools can be used to assign different colours and font sizes for the easy understanding of the customers.
The percentage of customers using the smartphones is about to outwit the number of customers using the desktops or laptops for shopping. The e-commerce platform should be user-friendly and should be able to run on all the devices with the same quality of experience. Using the Magento customization, a responsive web design can be developed which adopts itself to the screen size of the device used.
An important aspect of an e-commerce store is the search option where the customers can key in their desired products and obtain options quickly. Improvising on the search option using the Sphinx Search Ultimate tool of Magento customization is helpful in increasing the conversion.
Designing the menu options for your site is one of the critical factors for the success of the site. The menu options should be created based on the responsive design to cater to the customers using different sized devices.
Effort should be put to optimize the product category pages (different view options) in along with the individual product pages to create a huge impact on the rate of conversion.
Displaying authentic product reviews shared by your customers can attract new potential customers and increase the authenticity of the business. Using third party review systems provide excellent results in influencing buyer decision.
Live Chat offers a great opportunity to a customer to communicate with the supplier about the possible queries related to billing, returns, shipping etc. prior to initiating a purchase. It is recommended to use such a tool for improving conversions and customer satisfaction.
Using the right visuals and images on your site can be effective in letting the customers know the quality and specifics of the product he intends to buy. Magento development can be utilized to create effective product visuals for the e-commerce platform.
The conversion funnel is the process which converts a visitor into a customer. The process begins with viewing the site and ends with completing the checkout for the intended buys. In order to maximize the conversions, it is imperative to have a process which is simple and easy to follow.
A customer always looks for what benefit he is likely to receive against the cost incurred. In order to enhance the conversion rate, steps should be taken to accentuate the important aspects of value proposition the supplier has to offer.
SearchNative with an extensive Magento Web Development services can help improve the conversion rate for your business. SearchNative offers strong e-commerce platform through unmatched Magento development services. Magento customization services offered help to build a sturdy e-commerce store that attracts more customers.
SearchNative is your one stop shop for Magento development, Magento customization, Magento e-commerce platforms for improving your conversion rate and increasing the sales volume for your business.