Your conversion rate has a significant impact on your bottom line. Let’s say you’ve made an ecommerce site. You look at your analytics and see that 50,000 people are entering your site every month, and 4,500 are converting into paid customers with an average order value of of $25.00. You’ve got a solid conversion rate of nine percent and a monthly revenue stream of $112,500.
Now imagine you set in motion a plan to optimize conversion rates, and you end up increasing them a mere one percent. You’ve generated an extra $13,500 in gross revenue each year. But what if you are able to raise your conversion rates even more?
Conversion rate optimization does not just impact revenue. They also indicate an improvement in the customer experience, which we know to have an important impact on customer loyalty. Because the Internet has increased the power of customers by giving them the ability to choose from a wider range of products, your customer experience is going to play an important part in keeping your customers satisfied.
But it is not easy to get started with your conversion rate optimization tests, especially when it comes to deciding on what element of your site to test. Your options are almost limitless and may encompass pricing, the amount of pages in your checkout process, and calls to action (CTAs) – which include copy, shapes, color and placement on the page.
- International payment preferences
- Best practices for displaying field forms
- How to identify and remove barriers from your checkout process
Sign up to listen to this webinar, and start turning your data into insight that gives you the power to make good business decisions about your ecommerce.