Ever since the dawn of eCommerce, shoppers have been creating gaps in how we understand buying decisions. Some insights required data to validate while others simply needed time.
But while most of us have evolved with time to fight sticky ideas with stickier ideas, other marketers have fallen behind it and continued to use eCommerce marketing tactics that are not working anymore—if they ever did.
In this article, we’ll discuss conventional eCommerce conversion rate practices that don’t work but some ill-advised online store owners might still be using.
But first, let’s talk about conversion rates: what is it and what is a good conversion rate for eCommerce businesses. Let’s dive in.
Understanding eCommerce Conversion Rates
A conversion rate refers to the percentage of your visitors at a given time that made a desirable action. These desirable actions are called conversions. Some conversions in eCommerce include:
- Add to cart
- Add to wishlist
- Email list sign-up
- Social media shares
- and other Key Performance Indicators (KPI) your business identified
So if we want to find out our sales conversion rates, for example, we divide our total number of sales by the total number of visits.
So your conversion rate statement would be like 2 sales in every 300 visits. The conversion rate for this figure is 0.6%, which is low. So what is a good conversion rate?
What is a Good Conversion Rate for an eCommerce Store?
The average conversion rate for eCommerce globally is 2.86% or 1 sales conversion (or add to cart, add to wishlist, etc) for every 35 visits to the site.
So if you’re getting 1 conversion for every 35 visits to your website, you have an average conversion rate which means you’re basically doing okay.
But average conversion rates differ per niche. If you’re selling expensive items, for example, 2.86% might be a stretch. After all, no one will likely buy a luxury boat twice a month.
Aside from the cost, the popularity of your niches must also be taken into account. If you’re in a popular niche like fashion, beauty, and others, a 2.86% rate is below the average which is 3.25% for fashion and 4.07% for beauty.
So what’s the number you should aim for to grow your eCommerce store? According to Wordstream, the top 10% of websites convert at 11.45% and higher. That’s the number to beat.
Aim to get a higher conversion rate always, but whatever you do, do not buy into the following tips:
1. Changing the CTA button colors can immensely increase your conversion rate
There was a time when marketers couldn’t quite agree if a green or blue button was better than red and vice versa. Various theories about web colors came out and widespread A/B testing for the CTA button color was the norm.
Frankly, if you’re still listening to experts telling you the colors of your buttons affect your customer’s decisions to click it, then you really should stop expecting any positive incline in sales.
A small change like button colors cannot bring you to the top 10%. It would take more than that.
The truth is, as long as your buttons are noticeable (i.e. there’s a high color contrast between the button and the background) it doesn’t matter what color they are. What matters is that you’re not making it hard for your customers to find them which of course, all boils down to customer experience.
2. Font colors and sizes influence purchase decision
While there’s enough scientific evidence to prove that people have indeed color preferences, we take that to mean that people like buying items in a color that are attractive to them.
For example, some people may skip buying products they want or even need if they’re not in the color they like.
Instead of focusing on page elements like these, your time is better spent creating a great value proposition that your customers will find hard to resist.
3. A/B test everything—everything!
Testing is good. But A/B testing everything is not. Test only for issues you identified as a point where your customers get stuck. Don’t waste your time testing for the wrong things.
Also, if you’re going to test the performance of a page, for example, and A/B test for every single element on it like the title, image or videos, button colors, etc, if that page has at least a hundred different elements, and your average A/B test takes four weeks to run, it’ll take you a little over seven years to test them all.
This is also related to the next item on this list.
4. Test only one change at a time
Instead of A/B testing every single element at a time, to accurately measure what change works and what doesn’t test one concept or issue at a time instead.
For example, if the promo page isn’t performing as well as it should, you can test for clarity as a concept or issue behind it. That will entail several changes at once but you want that change to be addressing the issue of clarity.
You can’t A/B test everything and lose valuable resources and time.
5. Just do what your competitors are doing and you’d be fine
You can’t build your entire eCommerce marketing strategy based on what your competitors are doing. You should create your own not because it’s wrong to steal ideas, but because your competitors are not you.
Though you may share the same industry, your competitors will have different branding, customer sources, and others. You will benefit from a personalized marketing strategy that’s right for your business.
Grow Your eCommerce Store with Us!
The key to a high eCommerce conversion rate is customer experience. But if you don’t know how to start, our team of experts here at Genius eCommerceⓇ have the skills, knowledge, and expertise in eCommerce SEO to take your business to the next level.
Strategy is our specialty – we’re a full-service digital marketing company that can help you reach your conversion goals and succeed in the eCommerce industry. Get in touch with us today.