For example, an e-commerce marketplace can track customer journeys through Google Analytics. Are they coming from your primary traffic acquisition channels? How many touchpoints do they have before they buy?
You also need to know which metrics influence conversions. Here are some metrics to look at:
Time on Page : This is the amount of time visitors spend on a particular page of your eCommerce site, especially product pages and checkout pages.
Website Speed : This will help you know the time it takes to load your web pages.
Traffic : This refers to the number of visitors to your eCommerce site over a given period of time, whether from paid advertising, referrals, or organic traffic.
Cart Abandonment Rate : This shows the percentage of users who added items to their cart but did not complete the purchase.
Average Order Value : This is the average amount spent per order and shows the effectiveness of your pricing strategy.
Why are conversion rates important for E-commerce ?
The goal of eCommerce optimization is to increase sales, right? Web traffic, for example, is great for vanity, but it doesn't put food on the table.
Sales are made.
Knowing your conversion rate allows you to see what you’re doing right and what you can improve. From there, you can implement eCommerce optimization strategies and other tactics to improve conversion rates and close more deals. This includes using a multilingual eCommerce platform to reach a wider audience and offering free shipping to new customers.
If you have a low conversion rate and a high bounce rate, it's either because your copy is too confusing or your site isn't loading fast enough. In these situations, your conversion rate may increase if you reduce your bounce rate.
However, the only way to come to such conclusions is to track conversions.
E-Commerce Conversion Rate Equation
Divide your total e-commerce transaction amount by your total site visits, then multiply that number by 100.
For example, if you have 1,000 site visits and 100 transactions, this gives you a 10% conversion rate (100/1,000*100).
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List of 23 eCommerce Optimization Best Practices to Increase Conversion Rates
Now that we've covered some of the basics of eCommerce optimization, let's look at what this looks like in an actual marketing strategy. What can you do to optimize your conversion rates and increase sales?
1. Use a good abandoned cart tracking program
E-commerce Website optimization often comes down to tracking data and implementing automation. These two aspects come together to help you know your audience better .
Abandoned cart tracking software helps you reduce your cart abandonment rate and bring back people who have left your site for any reason.
For example, let's say a visitor fills a cart with groceries in your e-commerce store . Then they abandon the cart halfway through checkout.
Then that person gets an email: "You forgot your stuff! It's still here for you." Something like that.
Now the consumer has another opportunity to return to the cart and complete the order.
People abandon carts for a variety of reasons. Maybe they have an urgent meeting to attend or are frustrated by the number of form fields they have to fill out . Getting them back can improve your conversion rate.
