5 ways you can increase conversion rates
One of the most important metrics for any online store is the conversion rate. It measures how many visitors to your site make a purchase. The higher this number, the better. There are plenty of tools that can measure this for you, such as Google Analytics.
By focusing on every website visitor to your site, you can create experiences that can drive your rate higher. If you want more people converting on your site, you need to think about the entire customer journey, optimising every touch point and page so you can drive more sales.
Here’s how you can increase your conversion rate
1. Use clear CTAs
Think of your call-to-action (CTA) buttons as ushers, helping customers quickly and easily find their way through your product pages to the checkout. They need to be clear and accessible and tell customers what to do next. Don’t hide them in copy or have them sitting at the bottom of your page where they can be missed. The sooner they appear on page, the better.
Use words that are action oriented, like: Add to Cart, Shop Now, Earn More, or Get the Look. And make sure you position them where you want customers to take the action.
If your CTA is linked to an offer, don’t forget to add a sense of urgency by adding reminders like ‘only 3 items left’, ‘limited time’ or include a count-down clock showing when the offer expires.
2. Promote fortnightly payments
Buy Now, Pay Later (BNPL) providers like Clearpay are hugely popular because they allow customers to get what they need now and then pay for it in four interest-free instalments. Not only do customers see them as a convenient and cost-effective way to make purchases, but they also help them budget better.
Letting customers know you offer BNPL can be a real drawcard. A recent study revealed that Clearpay merchants reported that basket sizes are up to 50% higher in value than before Clearpay.1
If you offer a BNPL option, you should display the fortnightly pricing/finance options on your product description. For customers who may not be able to pay in full right now, it lets them know they can get the item now but spread their payments over time. This can help reduce cart abandonment and increase conversions.
3. Show customer reviews
Reading customer reviews has become commonplace for anyone making online purchases. Shoppers want to read about experiences from other people like them. This social proof helps them feel reassured before committing to their purchase and carries a much higher value than a company’s own description or advertising.
Most consumers read reviews and the majority2 consider them an essential step on their path to purchase. A study by Trustpilot revealed that 86% of consumers3 are more likely to buy from brands that have a positive star rating or review on their home page.
Apart from sharing information about experiences, they also act as an important tool for building trust between your brand and your customers. 79%4 of consumers say they trusted online reviews as much as the recommendations they get from family and friends.
While showing reviews is vitally important for your conversion rates, just as important is asking your customers to review their experience. So, make sure you create a review process that’s simple to do and try and capture their thoughts as close to their moment of purchase while it’s fresh in their mind.
4. Create time-sensitive offers
Time-sensitive offers can be effective at getting customers to complete their purchase, because they let them take advantage of a special offer, which could help them save money.
The great thing about these types of offers is that they can work for new and existing customers. First-time buyers are drawn in by the offer, which could appear as a pop-up when they land on their site. For example, you might display a discount coupon code that they can apply at the checkout.
For existing customers, you can use your email to send them special offers that they can redeem online or in-store. And if you’re looking to clear old stock or build interest in a new product, these offers can work a treat.
5. Offer a first purchase discount/offer
One way to encourage new visitors to checkout with you is by offering them a special offer when they land on your site. This delivers two main benefits.
Firstly, it helps you improve your conversion rate because new visitors are more likely to purchase from you rather than just look around then move on. Secondly, it helps convert prospects into customers, which can lead to repeat purchases. Research shows that increasing customer retention rates by 5% increases profits by 25% to 95%.5
Customers often return to stores they know and have purchased from before. By offering an initial discount, you give them a reason to checkout with you rather than a competitor they may have shopped at before.
Increasing your conversion rate can be one of the most powerful ways to grow your business. Keeping the customer front and centre of everything you do will help ensure you’re optimising their experience, which ultimately leads to more sales.
- Economic Impact of Clearpay in the UK, Accenture, December 2021.
- 26 Mind-Boggling Online Review Statistics & Facts for 2022, Website Builder, 18 December 2021.
- The Psychology Behind Trust Signals: Why and How Social Proof Influences Consumers in 2020, Trust Pilot.
- Local Consumer Review Survey 2022, BrightLocal, 26 January 2022.
- The Economics of E-Loyalty, Harvard Business School, 7 October 2000.
All references to any registered trademarks are the property of their respective owners. Clearpay does not endorse or recommend any one particular supplier and the information provided is for educational purposes only.
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