Your eCommerce store is forever working on how to drive more traffic to its web pages. But how many times have you actually looked back to see the number of people turning into customers? Like, actually visiting some of your product pages and making a purchase or some sort of interaction before leaving?
In this post, we’re going to take a look at the signs of conversion leaks that is causing your eCommerce store hundreds of lost sales.
1. An unusually low conversion rate
Baymard Institute recorded an average of 69% cart abandonment rate across eCommerce stores around the world. That’s practically stores losing out on more than half of their possible sales due to ineffective optimization of their store. And it is pretty much an obvious sign of prospects leaking from your conversion funnel.
It is important that once noticed, you dig deeper into the reason behind this cart abandonment. Is it the product costing, the checkout process, the shipping charges, the payment modes offered or something else? Understand why shoppers are abandoning their cart items and leaving without making a purchase.
Once you have a reason at hand, create campaigns that address them directly. Be it an advertisement on social media or a follow up email that reminds the shopper of what they have left behind, don’t forget to tap into the opportunity to encourage an interaction.
2. Less returning customers to the store
Most eCommerce marketers focus on driving traffic to their stores. In their zeal to do so, they miss out on engaging with the existing customers and lose them to a close competition in the market. While the number of new visitors to your store keep increasing, those returning to it remain at an all time low.
If your analytics is screaming out the same, it is time to rehash your marketing strategy. Look into ways to keep your existing customers equally engaged and drive them towards making repeat purchases from your store.
The more loyal a customer is, the more guaranteed sales you get and the more number of advocates you get to promote your store. So focus on also creating referral programs and loyalty campaigns that would encourage a customer to keep coming back to your store for more.
3. Increasing number of visitors bouncing off
Are people landing on your website and leaving in less than a minute? Are your product or sale pages going unnoticed? Has the number of visitors to your primary sale pages decreased? Another major sign that your conversion funnel is leaking is an ever increasing bounce off rate.
Understand where your customers are coming from, what they expect and why they are bouncing off from your store without even exploring what it has to offer. While we don’t suggest you bombard them with on-site retargeting campaigns that direct them to a desired page, plug their exit and optimize it to get more sales.
For instance, if you have noticed a lot of people leaving from your home page itself, there is a high chance they couldn’t find the products on sale. Retarget them with an exit intent campaign that promotes this sale at the right time – before they leave! If your offer is appealing, be sure to see your visitors click through the campaign and notice your bounce rates decreasing.
Viari used an Exit Bee campaign to reduce their bounce rates and drive their visitors towards making a purchase right before they leave. Read the full case study here.
4. Single channel conversions
The world isn’t just going digital, it is going mobile too. And that’s why it is important to ensure your store offers an omnichannel experience to its target market. Because you never know whether your customer is browsing through your store using his mobile devices or via the conventional desktop.
If your analytics indicate towards a single channel bringing in conversions, time to take a look at why the other channels aren’t working for you. Irrespective of the device your target market chooses, aim at delivering a seamless shopping experience to them and see lesser customers slipping away!
5. Ever increasing queries
If your customer support is going crazy over the number of queries they have been receiving, it is sure as hell time to look into the little dynamics of your online store. Analyse how the visitors are interacting with your product pages, checkout process and on other web pages. This will give you an idea about where your prospects are getting stuck and how you can move them along the conversion funnel instead of losing them.
While you’re at it, don’t also forget to look into how your customer support team is performing. You want to ensure that your team is offering the help a shopper expects effectively.
A typical online shopper has at least ten eCommerce stores to choose from when looking for a product. This makes it important for businesses to make the most out of the attention they get in the first go.
Aim at a first visit conversion or an interaction like following you on social media, subscribing to your newsletter, etc. In the end, engagement is the true measure of digital success and eventual sales.
How many of these signs has your eCommerce store been showing?