Conversion rate optimization funnel
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The 2022 E-commerce Guide to Conversion Rate Optimization

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Published on

July 20, 2022

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Driving traffic to your website isn’t enough to increase sales.

To do this, you need to improve your website and product page experience to convert more visitors. 

Many companies invest a lot of money in conversion rate optimization, and oftentimes, without success.

However, taking the time to understand what eCommerce conversion rate optimization is and what are the ways you can boost it, can lead to outstanding results.  

What Is Conversion Rate Optimization (CRO)?

Imagine you’re a coffee shop.

A lot of people will walk by your coffee shop, while some will enter it. A couple of people will buy something.

Conversion rate is optimization is the process of getting more people in the coffee shop to purchase something. 

Simply put, conversion rate is getting a site visitor to take the desired action on your website and get them into the conversion funnel.

Conversion rate optimization is the process of improving the chances your visitors will take the desired action. This can be done by changing your web design, your copy, or how you present the information you offer. 

What Are the Benefits of Doing CRO for Your Website?

CRO has plenty of benefits for eCommerce businesses, including:

  • Learning more about your visitors – When you implement CRO on your website, you will find out a lot about your visitors. For instance, you might find out that your visitors like to have the option to contact you immediately.

    Or maybe, they don’t want to see the contact form right away.

    You might find out that they like red CTA buttons, or that they really hate them. By doing experiments and testing, and learning more about what your visitors prefer, you’ll be able to improve the design, development, and marketing of your website.
  • Making data-driven decisions – Before CRO, when you were making changes to your website, you were probably doing it based on assumptions.

    The sentence “We should change this section on our website because I think it would be better if…” probably sounds all too familiar to you.

    With CRO, you’ll be able to make decisions based on facts and data, rather than gut feelings. CRO allows you to use A/B testing and evaluate the results to make better decisions in the future. 
  • Increasing your website profit – One of the most obvious benefits of CRO is that it increases your website profits. You can see a huge improvement in your profits with even a slight increase in your conversion rate.

    What’s the reason for this?

    Because CRO provides tangible and immediate profits that go right into your pocket, unlike other advertising efforts. 

How Is Conversion Rate Calculated?

If you’re wondering how to calculate conversion rate, we’re here to help you.

The conversion rate formula is the following: you divide the number of transactions (conversions) by the number of website visitors. You get the conversion rate percentage by multiplying this number by 100. 

Conversion rate formula

For instance, if you have 2000 visitors per month, and you converted 100 of those visits, your conversion rate would be 5%.

Why Is CRO Important for E-commerce?

When running an eCommerce business, one of the primary things you should focus on is CRO.

Aside from the benefits we already mentioned, CRO is a useful way to improve your customer experience, reduce your customer acquisition costs, and increase sales.  

2022 Conversion Rate E-commerce Benchmarks

You’re probably wondering what is a good conversion rate when it comes to eCommerce.

The answer to this question can give you insights into how far you need to improve your own conversion rate.

 According to the latest data, the conversion rate for the eCommerce market in June was 1.59%.

However, you need to keep in mind that there are variables that impact conversion rates, including:

  • Location
  • Platform
  • Device
  • Traffic source
  • Product cost
  • Product type

5 Ways to Boost Your Ecommerce Conversion Rate

5 Ways to Boost Your Ecommerce Conversion Rate

Below, we’ve listed some of the best ways to boost your conversion rate. 

  1. Highlight the sales sections – Everyone loves a good sale. Have a special section on your website to highlight your discounted products. 
  2. Use high-quality images and videos – Since shoppers are unable to see your products in real life, you need to make sure your pictures and videos are first-class. 
  3. Offer an excellent return policy – An easy return policy is something that always manages to win over a customer. Make the return process less time-consuming and simpler than your competitors. 
  4. Fix your search troubles – Visitors need to be able to find your product so they can buy it, which is why the search process on your website should be seamless. 
  5. Offer free shipping and competitive pricing – Free shipping is a must-have since so many visitors abandon carts when they see shipping costs. Moreover, having competitive pricing can attract even more customers. 

Tools That Can Help You Improve Ecommerce Conversion Rates

To achieve better conversion rates, you will need a set of different tools. Some of them include: 

  • An A/B testing tool – An A/B testing tool will help you test different versions of your content or design and see which one of them increases your conversion rate.
  • A web analytics tool – A website analytics tool is useful for monitoring your success metric performance and your website conversion rate. It also allows you to gain insights about your visitors.
  • Visitor feedback tool – Understanding the needs of your audience is essential when it comes to improving your website and conversion rates, and this is where a visitor feedback tool comes in handy. 

Final Thoughts

Even though CRO might sound like a difficult job, you can often see great results from making small changes, such as optimizing your checkout experience or adding user reviews. CRO is all about creating a better shopping experience for your visitors. 

Take your eCommerce store to the next level with the help of Pixyle’s visual AI. Our data analytics will help you make more informed decisions and improve your conversion rates by a long shot.  

Take Pixyle.ai for a spin now!

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