Hurray — the holidays are here! At the beginning of the year you successfully completed the transition to the new site architecture. You have fine-tuned your advertising strategy to recruit qualified traffic to the site. The engagement metrics are in line with your expectations. Now, the million dollar question, what about your site's conversion rate? Are holiday shoppers leaking out from your conversion funnel?
Rarely would shoppers spend a considerable amount of time at a departmental store, walking through the aisles, adding items in to a shopping cart and then just walk out of the store without making a purchase. However, as all marketers would agree, this is a common behavioral trait of online shoppers, resulting in abysmally low conversion rates. Before we jump to conclusions we must reconcile to the fact that making a purchase on the internet is a completely different experience for shoppers. Even 'window shopping' in the real world requires time, effort and commitment. Now compare this to the ease with which customers can browse through products over the internet or even add products to a shopping cart. While marketers are used to measuring conversions using a top-down funnel, the reality is that each step of the process requires greater degrees commitment from online shoppers, thereby increasing the risk of cart abandonment.
Think about it, retail store employees will ever force their customers to "sign in to their account". At a brick and mortar store, all shoppers have to do is to make the payment and walk out with the stuff they bought. Whereas customers who shopped online have to wait patiently trusting the website's assurance drafted into the "shipping & delivery policy". No wonder the average conversion rate of typical online retailers in the United States is around 3%!
So; what are the steps you can take to decrease leaks from the conversion funnel? It is all about winning the trust of customers, eliminating distractions and keeping the process as simple as possible. Communicating the right message is critical to win the trust of people. This is even more critical in the virtual world where shoppers are interfacing with machines rather than humans.
In this article, I have summarized 10 ways by which you can plug potential leaks in your conversion funnel. We hope you will be able to implement the recommendations that are relevant to your ecommerce store. For any additional support you can always reach out to one of the optimization experts of Nabler. Happy Holidays!