When you launch an online business, the first thing anybody expects is a good eCommerce conversion rate. After all, it indicates if the customers who are turning up at your online store are buying something or not.
If your conversion rate is low, you need to sit back and introspect about what is putting your prospective buyers off and what are the different ways of conversion rate optimization.
We work with a multitude of eCommerce businesses and have shaped a lot of successful online businesses across industries. Over the years, our experts have learned a few proven conversion rate optimization techniques that have shown measurable results.
In this blog, we give you a sneak peek into their expertise to help you improve the eCommerce conversion rate of your online store.
Let’s have a quick look at the basics first –
So, what exactly is the eCommerce conversion rate?
Imagine you have a physical store and it has great footfall. But, most of these people take a stroll around the store, check out a few items, and leave without purchasing anything.
This means that your store is attractive enough to attract leads but not “convert” them into happy customers. That is what conversion rate is all about.
To put it in the context of online business, the eCommerce conversion rate is the percentage of eCommerce website visitors who completed a transaction or made a final purchase during a defined period.
If an eCommerce store had 100,000 visitors in August and out of them, 2,000 visitors purchased an item, then the eCommerce conversion rate would be – 2,000/100,000 = 2%.