What’s driving your e-commerce conversions?
Our readers and clients work with a variety of e-commerce platforms. While the most popular platform isn’t necessarily the best for your business, so it’s important for you to know about the forces that drive revenue, such as basket size and conversion rates.
I’ve been having a conversation with some site owners on LinkedIn, talking about how just because Shopify is the most popular e-commerce platform, that doesn’t mean it’s the best. I totally agree. But that really doesn’t matter. After all, VHS wasn’t the best form of video recording tape, Beta was.
But when you get into working with these types of clients, we love it because they’re so focused on building revenue. The one we looked at had a 3% conversion rate on a basket of $100. You might think that’s a good rate, but it’s really not when you break it down and look at the details. Their conversion rate on desktop was over 5% and under 3% on mobile. But 70% of their traffic was mobile. You can tell the opportunity right away! I call that low-hanging fruit.
We’ve had a lot of discussions on conversion rates, but you should always keep in mind who your customers are. Your conversion rates are going to depend on the traffic coming to your site. Are they familiar with your products or someone new? Someone coming from an email link or other direct traffic source is always going to have a higher conversion rate because they already know you. The key is to get more people to know who you are. Take a look at your conversion rates, find out where your visitors are coming from, and adjust your website from there.