The internet is only getting bigger, and it’s going to keep expanding until the end of time. Throwing your business out into the dark expanse of digital space can seem like an overwhelming venture, but just as the internet has expanded, so have E-Commerce practices. Online business isn’t the shot-in-the-dark that it used to be.
If you already own an e-commerce website or you’re thinking of taking a step towards digital strategies with your business, then you need to know about CRO.
Otherwise known as Conversion Rate Optimization, CRO is the practice of evaluating which conversion techniques (such as sales funnels) are yielding the best results and maximizing their capabilities.
It can be a highly lucrative practice when implemented in the correct way, and it will increase your business’s sales by a significant margin. The best part? A lot of these practices are entirely passive. You can gain highly valuable information on which sales funnels are working best for your site without having to issue questionnaires to every visitor who stumbles upon your site. This valuable information can completely transform a business.
Case Study Examples
If it all sounds a little too good to be true, take a look at some of the case studies we’ve gathered that prove the efficacy of effective CRO. This eCommerce case study demonstrates that by using CRO processes, you can increase your revenue by a phenomenal 100%.
A further case study describes how one business, Kuna, managed to boost its sales by 89% just by utilizing CRO practices to their advantage. It compared which sales funnels and techniques were working most effectively through direct comparative testing and threw its efforts behind the most successful tactics.
CRO is a simple and logical process to follow that can yield extraordinary results when conducted properly.
So, how should you begin?
Step One: Know Your CRO Tactics
You’ve got your sales funnels set up, your website is alive and running, and your conversion rates are pretty impressive. The only problem with this otherwise perfect setup is you don’t know which techniques are giving you the best results, so you can’t build on your success. Here are just some of the ways you can put your sales tactics to the test:
Multivariate Testing
This form of testing takes multiple techniques and compares each to tell which combinations yield the best results. In E-Commerce, this can be combinations of imagery, sales funnels, or text placement on several pages. All you need to do is compare the conversion rates of these combinations over time to see which combinations work best together. It’s a simple and effective way to demonstrate how quick changes can make for long-lasting benefits.
A/B Testing
Similar to multivariate testing, A/B testing hones in on two particular pages that are the same in almost every way bar one specific change. This form of testing is useful for knowing which tools will aid your conversion rates the most. It is a great way to try out new techniques before committing to a change.
This is recommended for those who already have a successful setup and are looking to innovate, as comparing each element one-on-one can be time-consuming.
Bounce Rates and Average Time Spent on Site
While these aren’t specific methods of testing themselves, they’re still important to know if you’re hoping to optimize your conversion. Bounce rates refer to how long a site visitor spends on one particular page, whereas average time spent is how it sounds: how long a visitor stays on your site as a whole.
Paying attention to the pages that retain potential customers the longest will reveal successful patterns you can utilize across your site.
Step Two: Identify Which Ones Work Best for You
You know how to monitor which conversion rates your audience is most receptive to; now, it’s time to understand why certain techniques work better than others. Some audiences are more receptive to certain sales tools than others, and understanding what encourages your specific audience to make a sale is key to long-term success.
Consider your most successful pages and assess the following qualities:
Usefulness: Certain audiences literally just want an answer to a question, and if your page provides this, that’s why it’s drawing the most sales. No bells or whistles: just straight to the point solutions.
Practicality: Similar to usefulness, some customers simply aren’t interested in extravagant design. Sure, it might look fantastic, but if it isn’t practical, then you’re just going to disillusion visitors. Your ‘simple’ pages might yield the most success, and if they do, make this the point of your entire site.
Desirability: The counterpoint to the above, some audiences respond highly to an attractive site. This usually goes for visual mediums, but it can apply to all manner of sites. If your most successful pages are the ones with the most pizazz, consider updating your entire UX interface to follow suit.
The key is to figure out what the point of your most successful pages is, and then expand on it across your entire site. Those pages are successful for a reason, and identifying that reason can lead to much higher conversion rates.
Step Three: Monitor Your Success Accurately
Analytics aren’t the most exciting part of business, but they are necessary. When you’re having your Wolf of Wall Street fantasies, it’s unlikely that you envisage yourself sat in front of a computer reading extensively on audience demographics, but it’s a pretty important step on your way up.
If you’re ever going to maximize your conversion, you need to have an accurate record of what works, and you’re only going to get this if your analytics are on point. This means gathering enough data relevant to what you’re aiming to find out from credible sources.
Google Analytics is a great starting point, but there are other analytics services available that can specifically target data you need to increase conversion.
The Takeaway
You don’t achieve CRO via a one-size-fits-all approach to E-Commerce. Just as client bases vary enormously, so do their personal tastes. The sales tools that work for one company may completely differ for another. Analyzing your own successful pages, and comparing and contrasting new techniques, is the only way to find the best fit for your business.
Worldwide E-Commerce Order Shipping
Now that your site is fully optimized, more conversions will take place and thus, more orders will need to be shipped. If you feel that the volumes start to become hard to handle for your business, why not outsource it to an e-commerce order fulfillment provider like Floship?
We help you store your products in Hong Kong, Shenzhen China or Europe, pick & pack incoming orders within 24h and ship them worldwide by using any of our 30+ different shipping methods. Our proprietary software integrates seemlessly with over 65 different e-commerce platforms, such as Magento, Shopify and WooCommerce, creates a completely automated fulfillment process from shopping cart to delivery.
Want to know more? Reach out by filling out this form and one of our specialists will be in touch.
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