By each and every indicator available, we can sense that there is a rising trend amongst ecommerce growth and it really is starting to grow at a very high speed. Although it may seem very much impossible to imagine with the amount of speed that ecommerce websites are already amounting to five percent of overall sales, the future holds in its sight only astronomical growth to come.
However, some of the simplest elements of these ecommerce websites are kind of primitive. The year may be 2018, but there are buttons involved in ecommerce websites that have add to cart buttons that look so terrible. There are a lot of subtle issues as well! On Amazon, a product will have a certain amount of price and on other websites, the same product will have a different set of pricing schemes. Another terrible aspect involved in most of these websites is when ecommerce websites charge for shipping on one website, more so than the other. There are a lot of options when it comes to elevating ecommerce websites, but everything does not click at all times, and hence there has to be some tactics which have to be resorted to.
Inserting a sense of urgency into the process of shopping is one of the key aspects of any kind of sales. It doesn’t necessarily mean that you have to force your customers to buy the product and then emphasize that something terrible will happen. It does not have to be this way. There has to be a small collection of gentle nudges that you make to the customer that will help you easily make the conversion rate by a statistically significant amount.
Size the Opportunity
For you to have an amazing shopping experience, you have to understand how nimble your current shopping experience is. You can do one of two things.
- Try finding data for the conversion rate of your ecommerce. It shows how often you win in the market. Your overall conversion rate should be around two percent. You do not need an extra degree to measure that this aspect implies that two percent conversion rate implies that you do not win ninety-eight percent of the time.
You can do something very much simple. You can increase the conversion rate by twenty-five percent, and quantify how much your revenue has increased. An additional six million is not as hard to get accomplished for an imaginative focused team, and in fact, you tend to get that from implementing half of the recommendations in this article.
Another thing that you can do is to compute the amount of conversion rate you are tending to get. This can be done by dividing the amount of orders by the amount of users. This will definitely bring your conversion rate up to a very satisfied spot. Still, you have a big opportunity that you are missing out upon. The opportunity size should be looked at amongst all your website visitors.
- The second most important thing that you can do is to head on over to the Multi-Channel Funnels folder in Google Analytics, and look at two other reports which go by the name of Time Lag, and Path Length. They report two dimensions of speed, strictly limited to analytics: They calculate how long it takes for a human to convert, and how many visits it takes for a human to convert.
Logically, you should go with Path Length, as it is rich and very much actionable. This is the data that you will see, and the analysis that you will do will definitely tend to scare you. It will also create a sense of urgency for you to do something about it. These two recommendations will help you compute the size of opportunity for your management team.
You should be aiming to quintuple your revenue, but calculating just twenty-five percent improvement will definitely give you all the budget that you would need from your management to insert urgency into the shopping process. You have to go with a spreadsheet where you have all your data tackled down, and how much money you’ll be losing by not delivering a twenty-five percent of improvement every single week. It will definitely be heartbreaking for you to see this, but you will have to witness it and be ready for further progress!
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