The Complete Guide to Increase Shopify Conversion Rates
There are 2 key factors that online business owners should take into consideration, which are increasing website traffic and boosting conversion rates. While website visitors are prioritized by most business owners, Shopify store’s conversion rates are a game-changer that can convert into more sales.
A higher conversion rate means turning more visitors into paying customers, ultimately leading to increased revenue. In this comprehensive guide, Fordeer Team will walk you through proven strategies to optimize your Shopify store and drive conversion rates through the roof.
Understanding Shopify conversion rates
What is Shopify conversion rate?
Shopify conversion rates refer to the percentage of website visitors who take a desired action, typically making a purchase, on a Shopify store. The conversion rate is a key metric that indicates how effective a store is at turning potential customers into actual buyers. It is calculated by dividing the number of completed conversions (e.g., purchases) by the total number of visitors and multiplying by 100 to get a percentage.
For example, if a Shopify store had 1000 visitors in a month and 20 of them made a purchase, the conversion rate would be 2% (20 purchases / 1000 visitors * 100).
A higher conversion rate is generally considered favorable, as it indicates that a larger proportion of visitors are converting into customers. However, what constitutes a "good" conversion rate can vary based on the industry, type of product, and other factors.
A benchmark for a favorable conversion rate often hovers around the 2-3% range. However, businesses should adopt a mindset of perpetual enhancement by consistently testing and refining elements such as website design, checkout processes, and marketing strategies. While a high conversion rate is desirable, it's crucial to recognize that success extends beyond this metric.
What are the factors that influence the Shopify conversion rate?
As we've dived deeper into the topic, various factors wield influence your Shopify conversion rate. To gain deeper insights into these elements, let's turn our attention to Chris Goward's LIFT framework, which elegantly outlines six pivotal factors shaping conversion rates:
Value proposition
Your store's unique value proposition serves as a beacon, articulating to visitors what distinguishes you from competitors. Take, for instance, a store specializing in sustainable fashion, it showcases its commitment to ethical and environmentally-friendly practices to resonate with conscientious shoppers.
Relevance
The harmony between your store's messaging and your visitors' needs is critical. For those targeting busy parents, accentuating the convenience and time-saving advantages of your products can heighten the relevance of your store to their specific requirements.
Clarity
The simplicity with which visitors comprehend your store's offerings, features, and benefits is paramount. Achieve clarity through lucid and concise language, detailed product descriptions, and the integration of high-quality images and videos.
Distraction
This factor identifies and mitigates any elements on your website that may divert visitors from completing a purchase. Elements such as cluttered layouts, slow loading times, or intrusive pop-ups can detract from the user experience, diminishing conversion rates.
Anxiety
Address the fears or concerns that could be hindering visitors from making a purchase. Tackling common apprehensions about product quality, shipping times, and return policies contributes to alleviating anxiety and fostering confidence in your store.
Urgency
This factor infuses a sense of urgency or scarcity that propels visitors to take prompt action. Highlighting limited-time promotions, low stock levels, or offering temporary free shipping creates a compelling call to action.
Complete guide to increasing Shopify conversion rates
Define your website’s goal
It's essential to set realistic goals that align with your business objectives. Reflect on your performance over the past month, three months, and six months to gauge historical trends, but also dare to stretch your aspirations. Once your goals are in place, consistently evaluate your progress against them by utilizing robust site analytics tools.
In this dynamic landscape, staying attuned to the metrics and adjusting your strategies accordingly ensures a friendly yet formal approach to fostering continual improvement in your Shopify conversion rates. Regular assessments not only provide insights into past performance but also serve as a compass for navigating future growth opportunities.
Add visual progress indicators to checkout
Implementing visual progress indicators has proven to be a valuable strategy for enhancing conversion rates by offering customers a transparent view of their progression through the checkout process. This user-friendly approach involves breaking down the checkout process into distinct steps and visually signaling the customer's current stage, effectively mitigating potential anxiety and frustration during their transaction.
These indicators not only guide users through the process but also serve as a means to combat cart abandonment, a common challenge in e-commerce. Incorporating elements like color-coding or highlighting ensures that customers are distinctly aware of their current stage, fostering clarity and reducing the likelihood of confusion.
The result is a smoother, more intuitive checkout experience that contributes to an enhanced overall conversion rate and customer satisfaction. By embracing these user-friendly features, you not only streamline the purchasing journey but also fortify your online store against potential setbacks, ultimately fostering a positive and lasting impression on your customers.
Add one-click upsells & thank-you page offers
Implementing one-click upsells and incorporating thank-you page offers not only elevates your revenue stream effortlessly but also ensures a positive and engaging experience for your customers. By strategically presenting related products or exclusive discounts immediately after checkout on the thank-you page, you tap into the buyer's heightened state of satisfaction and interest.
Picture a customer who has just purchased a protein powder from your store. Seizing this opportune moment, you can seamlessly offer them a one-click upsell for a complementary shaker bottle or entice them with an enticing discount for their subsequent purchase.
This strategic approach not only contributes to an increase in the average order value but also significantly boosts the likelihood of the customer returning to your store for future transactions. It's a friendly and efficient method to enhance both your revenue and customer loyalty, demonstrating a commitment to providing value beyond the initial purchase.
Collect important information only
In the realm of online shopping, customers appreciate a hassle-free experience, and one key aspect of this is minimizing the time spent on form filling. Streamlining the checkout process is crucial, and a proven strategy is to collect only the essential information needed to fulfill an order.
This not only reduces friction but also contributes to a smoother and more user-friendly transaction process. The concept is straightforward: inquire only about the information necessary for order fulfillment.
Taking the example of an online clothing store, you should consider the option of omitting or making the customer's phone number an optional field. By doing so, you not only expedite the checkout process but also mitigate the risk of cart abandonment.
The principle here is to strike a balance between obtaining details and respecting the customer's time and convenience. This thoughtful approach enhances the overall shopping experience, fostering customer satisfaction and loyalty.
Take advantage of scarcity and urgency
You can wield remarkable influence to encourage customers to take decisive action by harnessing the concepts of scarcity and urgency. Employing these strategies with finesse enables you to instill a sense of urgency without appearing overly assertive.
Imagine you have a coveted selection of products, and their availability is limited. Instead of resorting to a forceful approach, a subtle yet effective method involves displaying a message such as “Only 3 left in stock”.
This not only communicates the scarcity of the item but also serves as a gentle nudge, prompting customers to make swift decisions. By integrating these tactics thoughtfully into your marketing strategy, you create an environment where customers feel motivated to act promptly, fostering a positive and engaging shopping experience.
Implement an exit-intent pop-up
Imagine that you're navigating a website, contemplating an exit, and just as you hover over that exit button, a friendly pop-up appears – that’s the exit-intent pop-up. This clever feature engages users who are on the verge of leaving the website, strategically prompting them to reconsider their decision before bidding farewell.
These exit-intent pop-ups can be likened to a digital silver lining, offering a valuable opportunity to sweeten the deal for visitors who might be wavering on the brink of making a purchase. Consider an online clothing store, for instance. as you're about to click away, a friendly pop-up materializes, extending an irresistible 10% discount on your first purchase if you sign up for the store's email list.
You see? It's not just about the discount; it's about forging a connection. By capturing the visitor's contact information, the store lays the groundwork for future engagement and potential purchases. In essence, exit-intent pop-ups blend seamlessly into the online shopping experience, serving as a courteous reminder and a chance to turn hesitancy into excitement.
If you’d like to get started with this strategy and keep those good vibes flowing, Shopify Apps store offers you with numerous pop-up apps that can help you with this. With our Fordeer Sales Pop Up - Popups, we help you inspire visitors to FOMO to boost your conversion rates and generate more sales growth trust by showing purchases are being made in real-time and at the visitor counter. You can check it out!
In conclusion,
Increasing conversion rates in your Shopify store is an ongoing process that requires attention to detail and a commitment to providing an exceptional user experience. You’ll be well on your way to maximizing your store’s potential and driving sustainable growth if you follow these tactics above.
Keep testing, iterating, and adapting to the ever-evolving landscape of eCommerce to stay ahead of the competition. Fordeer hope all’s well on your journey!
