Conversion rate optimization (CRO) in e-commerce is the process of improving your site or landing page experience based on website visitor behavior. It improves the probability of the visitor to make a purchase on the website or from the mobile app. The biggest reason why customers drop off before purchasing is because the website or user journey isn’t aligned with their expectations.
Customer Journey drop-outs leading source of revenue leakage
A typical user journey for an e-commerce portal begins from a home page, a category page or a third party website/blog/ad. The first page on which users land on the website is called landing page. Since this page is the first thing that the user sees, it is equivalent to a storefront in the offline retail sense. This is the front where the retailer can show the showcased products or categories to move customers down the conversion funnel.
The subsequent steps from the customer funnel are
- Add-to-cart / checkout initiation
- Login initiation
- Payment initiation
- Transaction as the final step
Conversion rate optimization is the process of reducing drop-offs (people moving in the conversion funnel) at each step
Personalization is redundant for most e-commerce retailers
Since top of the funnel is where the maximum leakage happens due to product-audience relevance fitment, it is imperative to show customers products that resonate with them. Unlike offline storefront , online storefront has the important craft of personalization. eCommerce Personalization is the process of delivering personal experiences on eCommerce sites by dynamically showing content, product recommendations and specific offers based on previous actions, browsing behavior, purchase history, and other interactions with the brand. However, personalization needs a previous interaction with the brand to be effective. As per DeepFlux client base, more than 70% of users that come to a retailer’s website are first time users. This makes personalization not as effective and does not add a great value to first time users.
Efficient Product Listing order taking advantage of knowledge of masses
The need of the hour in such cases is to develop product listing order on category pages relevant to a majority of the users. There are various options to enable the same on listing pages like bestseller rank, latest , price low to high and others. A good way to identify which sorting works for you is on the basis of conversion rates and bounce rate on these pages. Updating sorting orders is particularly easy if you manage your store on shopify. On shopify any sort order could be selected or updated under product->collections. You could either select from the default sorting options or update sort order manually.
Once the sorting order has been updated, the updated category page can be updated as a landing page in live campaigns. By testing various options, performance of different landing pages can be seen under the behavior landing page report in GA. E-commerce conversion rates of different options can be compared to arrive at a winner to improve storefront sales.
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DeepFlux is a Fashion AI SaaS startup that is helping e-commerce managers improve the productivity of their day-to-day tasks and decision-making.
By Abhimanyu Vyas