Every good business owner or marketer knows that the eCommerce conversion rate is not just a number – it’s important for the success of your entire strategy. Here are the seven tips to increase eCommerce conversion rate using analytics.
First and foremost, analytics can help you with personalization which will, in turn, help you increase your eCommerce conversion rate. By collecting and analyzing data about your audience and your customers, you will be able to personalize your content, your social media, your email marketing, and your website to provide a better user experience.
The thing about personalization is that it has now become the standard rather than being a unique trait of only a few select brands.
This is why most customers expect businesses to use personalization even if the company has only begun its existence and isn’t trying to reach a more significant – or even global – audience.
The main points you need to focus on include who your audience is, who your customers are, what their preferences are, and so on. Once you have figured that out, you will be able to customize different elements on your website to fit and live up to the expectations of your site visitors, aka potential customers.
But it’s not just your website that you should be personalized – it’s also every other aspect of your digital marketing campaign.
How your social media profiles look and what you post there, how your emails look and what content you fill them with, and all the other channels you use for marketing – everything needs to be personalized.
#2 Reviews and Feedback
Though reviews and feedback may not seem like an obvious way to increase the eCommerce conversion rate by using analytics, they can actually help a lot.
Basically, when customers write reviews about your business or your products and when they give you some kind of feedback, you get valuable data about your company.
All this data can help you get a better picture of what you might be lacking.
It will also tell you what issues your customers are struggling with when interacting with your business and what aspects of your business need to be improved. This is precisely why it is so essential that you encourage your customers to provide feedback.
There are multiple ways for you to get the reviews you need so desperately.
Firstly, there are review sites where your customers will probably post their feedback.
Secondly, there are social media platforms where you can directly encourage reviews.
Thirdly, there are customer surveys you can conduct through emails, live chats, and on-site forms.
By utilizing all of these channels, you will get feedback from different segments of your customers. However, even using one of these will allow you to get enough information for analysis, so don’t underestimate your efforts when it comes to collecting feedback.
#3 Valuable Content
Using analytics is crucial to create valuable content and increase your eCommerce conversion rate. At the most basic level, content that provides your customers with some kind of value is a must.
That being said, there are so many business owners and marketers who seem to forget about this simple rule.
For instance, you could be using a writing service to find the best writer and hire them to create your articles, emails, blog posts, and social media posts. However, if you haven’t previously analyzed your data and created a profile of your audience, you will not be able to create compelling content that will increase your eCommerce conversion rate.
Along with compiling your customer profile, as described earlier, you also need to take into account the purchase history of your audience and customer behaviour.
This way, you will know what kinds of products are the most interesting and appealing to your customers which will give you more topics to write about.
#4 Product Selection
The right product selection is essential for your eCommerce conversion rate, and analytics can help you with it tremendously.
To put it simply, this is an extension of the point covered in the previous tip. If you analyze your data correctly and look at your audience’s purchase history and customer behaviour, you will be able to select the products that they love the most.
For example, you could be selling five different types of hand cream. However, you discover that three of them sell better than the other two. Or you find out that three of them get more reviews (including positive reviews) than the other two.
Your next step then is to calculate whether or not it is profitable to continue selling five products or it’s better only to sell three.
Of course, if you take the two products out of your product selection, there is a fair chance that your customers will suddenly start sending you emails asking whether or not you still sell those other products.
This is why you might want to consider doing a survey before you decide to remove the products from your product selection. Once again, it’s all up to you in the end, but you should keep in mind that it’s all being done for your customers.
#5 Price Optimization
Much like product selection, price optimization largely depends on how well you use analytics to increase your eCommerce conversion rate. Your price optimization is also directly related to your product selection. Both depend on what your audience wants and how well you collect and analyze the data to determine what they want.
Likewise, price optimization can also help you increase your eCommerce conversion rate. That being said, when deciding what you want to do with your prices, you should take into account:
- what your competitors are doing,
- how much demand exists for your particular products
- how much value your products have, and so on
The best time to use price optimization is after you have gone through the process of product selection. This is when you know how many items you are selling and can price them appropriately. However, you should still do the necessary research to get insight into the factors mentioned above (your competition, demand, etc.)
#6 Quizzes in Email Marketing
Though asking for feedback by sending surveys through email marketing is more popular, quizzes can actually help you a lot with your eCommerce conversion rate too. You can consult the sender email deliverability guide to know more about email marketing because it is just so integral to your digital campaign, but let’s focus on quizzes for now.
Quizzes are meant to test your audience’s knowledge about your niche, your business, or your products.
On the other hand, they can also help you understand which topics your email subscribers are less familiar with. These are the topics that you will be covering in your content (as described earlier in the “Valuable Content” section).
One of the reasons why your eCommerce conversion rate is so bad might be that your customers simply don’t know what the products you are selling are meant for. This is why they are afraid of buying the items you have to offer, fearing that they might not be able to use them correctly.
Also, they could be too lazy to try to learn how to use them.
This is exactly why quizzes are so important: they help you understand how educated your audience is about your niche.
Then, the content you create will be suitable for their level of knowledge and will provide them with the information they need to understand to be able to use your products – and, of course, start buying them more enthusiastically.
#7 Live Chats
Last but not least, live chats can also increase your eCommerce conversion rate through analytics. Both live chats and chatbots are considered a great way to communicate with your potential customers when they are visiting your website – or even when they are browsing social media or using a messaging app.
Consequently, they can also be used to collect data.
Surveys and polls can be spread through live chats and chatbots. But once you have this information, you can further improve your live chats and chatbots, making this somewhat of a mutually beneficial process.
Once you start using the right dialogue sequences in your chatbot strategy, there will be more people satisfied with your customer support.
For example, you could launch the demo version of your chatbots to test them and to collect data from the first interactions. Then, you can analyze this data and decide how your chatbots need to be changed before replacing the demo version with an official one.
Likewise, the surveys and polls you conduct via live chats and chatbots will help you improve the other aspects of your business (e.g. improve website design, offer the best shipping and delivery).
To sum up, all of these tactics will help you significantly improve your eCommerce conversion rate once you integrate them into your strategy. Be as persistent as you can, and you will eventually see results.