Do you have good website traffic and are still facing a lower conversion rate? Chances are your website does not have a credible UX that drives customers to purchase products and services.
At chilliapple, an Adobe partner Magento agency, we implement proven Conversion Rate Optimisation (CRO) techniques and strategies to help you drive sales and revenue.
Before we deep dive into the best tips for enhancing conversion; let’s understand what it is and how it determines the success of your eCommerce business.
What is the conversion rate?
The eCommerce conversion rate is simply the percentage of site visitors who perform a desired action on your website. This action mainly includes purchasing items, adding products to the shopping cart, subscribing to your newsletter, and filling out the contact form.
How to calculate the conversion rate of your Magento store?
Estimating conversion rate of any Magento store is rather simple. You need information on two key factors which are the number of unique visits and the total number of the orders placed.
For example, if your online store witnesses 1000 unique visits and 30 orders placed, the ecommerce conversion rate would be 3% (1000 visits / 30 orders = 0.03 or 3%).
What is a good eCommerce conversion rate in the UK?
Generally, a 10% conversion rate is considered on the good side, but the precise value depends upon several factors like product, industry, and other factors. For example, a good eCommerce conversion rate in the UK is generally considered to be between 3% to 4%.
Factors like sale’s technique, brand trust, quick checkout, and retargeting strategy play a pivotal role to increase the average conversion rates of eCommerce sites.
The infographic below provides insights into the online shopping average conversion rate in different verticals worldwide. The data is for the 2nd quarter of 2024.
Why Magento conversion rate optimization is important?
Magento conversion optimization is a study of user engagement; whether website visitors find your site valuable, how they interact with your site, and what hinders their shopping decisions. Based on these factors, different Magento stores require unique strategies for the best results.
Here are key reasons why Magento CRO is crucial
Maximises your revenue: Magento CRO is directly related to return on investments (ROI). Getting more sales from the website traffic is a key strategy in boosting returns.
Enhance UX: Poor CRO indicates the urgent need to upgrade and launch a better UX for the business site. This helps to release a better shopping experience.
Gain deep insights: You can analyse user behavior to determine what they like and dislike about your Magento store.
Provides competitive edge: An optimised Magento store that offers an interactive UX provides you with an edge in the business industry.
Better customer retention: Ecommerce sites with good conversion rates also tend to perform well with customer retention.
Here are 4 Handy Tips to Optimise the Magento Store Conversion Rate
1. Enhance the shopping experience for online customers
Great customer experiences is the key strategy to boost eCommerce conversion rate. The foremost thing is to offer an appealing website. Remember, your website is the virtual representation of your brand.
You need to choose the best theme, colour scheme, fonts, and images that matches your business industry and helps to build a friendly shopping experience.
Additionally, the ecommerce site should be screen responsive and offer a friendly mobile UX. The shopping experience for the website visitors should be enjoyable. Other factors like quick checkout and store speed and quick checkout also play a role in enhancing UX.
2. Streamline the checkout process
An impeccable quick checkout process paves the way for the success of your online business. It is one of the most important factors when optimising the Magento store conversion rate. Implement the following to ensure a smooth checkout:
- Remove unnecessary steps from the process
- Disclose the shipping rates at the earliest stage of the process
- Refrain from lengthy forms that demand excessive information
- Integrate trusted payment gateways
The focus is to offer simplicity and transparency in the entire checkout process.
3. Improve Magento store speed
Online stores with good loading speed helps to offer the much needed support towards the Magento CRO. As per research, even differences of mere seconds can drive away customers from your website.
Make sure your online store loads within three seconds. A Magento support agency can help you achieve this with the following activities:
- Minify CSS and JavaScript files that help to eliminate unnecessary code
- Optimise images and videos to ensure quality visuals with reduced file sizes
- Launch a Content Delivery Network (CDN) to distribute your site’s content over various servers
- Ensure regular maintenance and remove outdated extensions from the Magento store
4. Track key metrics with analytics tools
Data and analytics are your potent tools when trying to optimise your CRO. You must use the right tools like Google Analytics that helps to systematically collect and analyse user interactions.
Further, with this conversion data, you can analyse how your customers interact with your website. Some of the key factors to monitor are:
- How do the customers navigate across the website?
- Where do the customers tend to drop off?
This will assist you in fine-tuning the Magento platform UX and boost conversions.
chilliapple can help you optimise Magento CRO
Traversing the journey of conversion rate optimisation involves both implementing and administering suitable strategies. We can help you identify and leverage the necessary modifications to drive sales and return on investments. You can hire Magento developers to help you increase conversions and unleash the maximum potential of your online stores.
OTS News on Social Media