7 strategies for Conversion Rate Optimization

7 strategies for Conversion Rate Optimization

In this guide we analyze 7 strategies that can be used to optimize conversion rate, increase sales and boost revenue of your eCommerce
7 strategies for Conversion Rate Optimization
Riccardo Russo | CEO
Riccardo Russo | CEO
November 20, 2023

Those who manage an eCommerce know how important it is to turn website visitors into buyers, just as those who run marketing campaigns know that the conversion rate is one of the main parameters to evaluate. Although, it’s not easy to know how to optimize the conversion rate of an ecommerce website since there are tons of strategies to implement.

In this guide, we analyze 7 strategies that can be used to optimize conversion rate, increase sales and boost revenue of your eCommerce and that we believe will have the higher impact with little effort. Some of these strategies are very easy to implement and can have a significant impact on your conversion rate. 

What is the Conversion Rate?

The conversion rate is defined as the percentage of actions taken from the total number of users. The actions considered can vary, for example in the case of eCommerce it can be the ratio between the total number of visitors and the number of buyers. Current research shows that the average conversion rate on ecommerce websites is 2-3%. The aim of this article is to help brands like yours bring this figure up. 

For eCommerce, an increase in the conversion rate can mean an increase in sales and consequently in revenue. However, the actions considered can also be of a different type. For instance, one can analyze newsletter sign-ups, resource downloads, or requests for a quote.

Strategies for Conversion Rate Optimization

There are many measures that can be taken to try to increase the conversion rate of your eCommerce store. In this guide, we focus on 7 strategies to improve the conversion rate and promote the growth of your business.

By reading the described strategies, it will be clear how simple actions can bring significant benefits, both in terms of increased purchases and improving user experience. In the current era where artificial intelligence is spreading rapidly, increasing the conversion rate has become even easier. Staying current and preventing competitors from outpacing you is essential.

A/B Testing

A first strategy that can be used to optimize the conversion rate of your eCommerce is the so-called A/B testing. This strategy involves testing for a specific amount of time different communication variants with users to identify the most effective one.

 For example, in the context of a website talking about conversational commerce, different communication angles can be tried to understand which one is more appealing for clients. What value proposition generates more clicks? Talking about automatizing customer care with AI or sales in chat with AI? A/B testing these two will reveal the answer. A/B testing is a widespread and successful strategy because it does not require excessive financial investments to yield significant results. Nevertheless, it takes patience and time. 

Using conversational commerce

Artificial intelligence and the rise mobile shopping have created new opportunities for companies to attract users attention. Conversational commerce is one of those and it allows customers to shop easily via chat, in apps where they are used to spend most of their time online - like WhatsApp. Introducing AI WhatsApp CTAs in your eCommerce can help improve the conversion rate because it offers genuine and automated points of contact that easily turn into sales. TextYess is an AI shopping assistant on WhatsApp that helps companies increase sales through an AI Shopping Assistant on WhatsApp and converts 1 conversation out of 5.

Analyzing data

Even if this suggestion may seem trivial, many companies still do not pay enough attention to data analysis. Proper data collection and detailed analysis can reveal patterns and provide insights into actions to positively influence the conversion rate.

Nowadays, there are many tools that assist entrepreneurs and companies in easily managing data, from the collection phase to usage recommendations. Many of these tools also integrate artificial intelligence to ease the analysis process. 

Automation of the workflow

Automating the workflow allows the team to focus on important tasks and allocate time to those activities that can boost the conversion rate. Often, team members are overwhelmed with work and waste time on tasks that could actually be automated. Artificial intelligence tools can be useful in these circumstances too.

For instance, automatically updating the dashboards related to your website performance (visitors, clicks, duration x session….) is paramount to have more time to dedicate to value added tasks like A/B testing, selecting better tools and of course analyzing those data to improve the performance of your website. 

Focusing on segmentation and personalization 

Engagement of potential buyers is a fundamental prerequisite for growing the conversion rate. Segmentation of your user base and customization of communications help increase engagement and, consequently, can contribute to optimizing the conversion rate.

With segmentation the population is divided into multiple categories based on specific criteria established on a case-by-case basis. You can choose characteristics such as age, gender, place of residence, but also information obtained from user browsing sessions, such as items added to the cart, searches made on the eCommerce platform and so on.

With personalization specific communication styles are created for the categories of potential buyers defined through this process. New tools with artificial intelligence can help generate personalized interactions effortlessly. TextYess AI-powered virtual assistant helps customers on WhatsApp 1-to-1 adapting its tone of voice to that of the customer and satisfying each personalized request to its best.

Writing SEO-oriented content

There are various methods to increase visits to your eCommerce store. Advertising campaigns are crucial for commercial activities, but one should not underestimate the importance of organic visits.

Potential customers who reach the store through search engine navigation are generally more interested in the products and services offered. Having a blog alongside your eCommerce can be a valid strategy to increase organic visits from interested potential buyers and to boost the conversion rate.

To ensure that the content ranks on search engines, it's necessary to write SEO-optimized articles. Periodic analysis of the published content is also useful to understand which articles have achieved better positioning and if there's a possibility to optimize certain articles to push them higher in search engine rankings.

Collecting customers’ reviews

Before making an online purchase, customers often read reviews written by other buyers. Products and services that receive a high average rating inspire greater confidence in new customers, making it more likely for them to complete the purchase.

One method to optimize the conversion rate is therefore to collect customers’ reviews and prominently display them. Not all customers leave reviews, which is why it can be useful to provide a personalized message inviting them to describe their experience.

Some eCommerce platforms even offer exclusive benefits on next purchases to customers who submit a review, regardless of the assigned rating. Each company can determine how to manage reviews and how to encourage the sharing of purchase experiences.

Start with Conversion Rate Opitmization

These are only 7 of the multiple strategies that an ecommerce company can implement to improve its conversion rate, yet these are the ones that we believe can bring the highest impact with the least amount of work. Choose your favorite ones and start improving your CRO today!