Many website owners guard their conversion rates with utmost secrecy in a bid to hide their secret cards from the competitors. While many software tools can estimate the number of visitors a site receives, very few of them can determine a website’s conversion rate. According to a 2020 survey, the average conversion rate of e-commerce websites was 2.86%.
But the question is; what is a good website conversion rate? The simple answer is, it varies widely depending on your industry. What’s excellent for one industry may be below par for the other. Therefore, it’s essential to understand the average conversion rate for e-commerce sites and benchmark your performance against it. Once you’re confident you’re meeting your industry average, you can work to continually optimize your conversion rate to make it to the top 10 percentile of industry performers.
Most e-commerce websites typically have conversion rates ranging between 1% to a maximum of 5%. Here are five essential tools for e-commerce merchants to optimize their conversion rates.
Yotpo is an e-commerce marketing platform that enables businesses to harness the full power of customer reviews. The platform does some unique things under the hood to help you realize and utilize customer data effectively. For example, with automatic review requests, Yotpo utilizes post-purchase emails or text messages to collect site or product reviews from previous shoppers automatically. The reviews are then synced with orders placed through your store and triggered for dispatch following order placement.
Once the platform sends an Automatic Review Request, shoppers can seamlessly review your product or site through a customized in-email review form or a fully customizable landing page based on your settings.
Overall, social proof is a powerful marketing tool since most people will adapt their shopping behaviors to conform to others and society. Yotpo enhances social proof by helping you gather genuine reviews from real consumers. The platform also comes with impressive features such as scheduled email reminders and on-site widgets to help you reach out to your customers in critical moments or following a purchase.
For most websites, setting up Google Analytics gives you great insights into your website visitors. It tells how visitors found their way to your website, which may include keyword searches in Google, direct visits, or referral websites.
Other insights you can get from Google Analytics include:
• How long visitors stay on your site
• Where visitors come from
• Whether the visitors are new or returning
• What browsers, operating systems, or devices the visitor used (mobile device or desktop/laptop).
• How many visitors converted and the interaction that led to the conversion.
Additionally, Google Search Console gives you a peek at the keywords users type to find your website and whether or not they click on your website. Furthermore, it shows you various errors that may impact your website rankings, such as broken links or slow loading pages.
Rep is an AI-powered sales assistant which is designed to optimize e-commerce conversion rates by guiding customers through their buying journey. It’s a cross-platform, adaptive communication solution that takes the roles of an in-store sales associate, ensuring you can boost sales and enhance customer satisfaction.
Rep’s AI-powered engine predicts a customer drop-off just before it happens. When that event is triggered, Rep’s chatbot will pop up and offer assistance to the customer. Typically, shopping assistance given in the right place at the right time increases the conversion rate. Whether it’s to help find the right product or to answer a customer’s question, Rep AI Sales Assistant will dynamically enhance your conversion rate.
Its solution indexes the catalog for conversational search queries and uses the power of conversational AI as a command interface to fulfill your customers’ online shopping desires. As a result, customers can enjoy a smooth shopping experience executed entirely via conversation, right from product discovery to checkout and payment.
HotJar is an innovative e-commerce marketing tool that helps you understand how your users interact with your website. As a heat-mapping tool, you can get the functionality of cursor movements, clicks, and scroll-depth mapping. Each heatmap experiment can capture about 1,000 to 10,000 pageviews and compile a detailed analysis.
Its session recording functionality is essential for analyzing customer behavior in real-time. Besides, the page targeting define feature enables you to record individual user sessions, which you can later watch at your convenience to get a granular understanding of how users interact with your site’s user-face. You can even set up filters based on various attributes such as visit lengths, page views, device, country, and more to drill down on specific user segments.
MixPanel is an effective marketing tool for understanding the entire user journey, including the acquisition, engagement, retention, and analytics on what actions to take.
Deep user analysis typically takes the following approach:
• Engagement: What users do when they land on your e-commerce website.
• Retention: Whether or not visitors return to your store.
• Funnels: How users go on their shopping trips.
• Audience: Who your visitors really are.
Through machine-learning, the MixPanel platform shows you the critical details that you may lose sight of. Even without expert analytics, you can use the tool to get key insights from the user data on your site. Moreover, you can execute A/B tests in a simple editor to help you deliver the best user experience.
With a messaging feature, you can keep your buyers sending messages to help you determine who they are (their demographic characteristics) and what they do inside your e-commerce store. Instead of focusing on page views, you can also take a measurement approach to determine what a user does on your site, such as clicking on a button or watching video playback.
Other essential functionalities of MixPanel include:
• Real-time reports: It processes data in seconds.
• Conversion Funds: Easy to create conversion funds.
• Tracking: It tracks users individually, and it’s easy to configure
• Contact with clients: You can send individualized messages from the platform based on the actions taken by the client.
Leverage the power of Rep’s conversational AI solution to take your digital marketing efforts to a whole new level. The on-site assistant for the web guides customers throughout their buying journey and ensures they complete a purchase. Rep’s AI sales assistant also uses machine learning to detect abandonment and engages the customer with tailor-made shopping assistance.
Besides our dominance in the conversational AI market for e-commerce, we now offer Chatbot capabilities on our website to further enhance customer experience. Contact us today to learn more about Rep’s AI sales assistant and other tools that can improve your e-commerce conversion rate!