Your business is bleeding! The flow of potential customers is the blood of your business. But you are losing a lot of blood every day. Instead of injecting more blood into your business, first You should stop the bleeding.
Ecommerce Conversion Rate Optimization is the patch that stops the bleeding of your business.
Everyone who is active in the Ecommerce industry knows that getting new customers is not easy or cheap. Increasing sales may require a significant increase in website traffic. Unfortunately, more than 90 percent of this traffic is wasted and does not convert into customers.
But what if there was a way that magically without increasing traffic, can lead to more sales? This is what Ecommerce Conversion Rate Optimization will do for your business.
In this comprehensive guide, we’ll explore what conversion rates are, the key formulas behind them, and five tried-and-true best practices for boosting your online store’s performance.
What is a Conversion Rate?
Before understanding Ecommerce Conversion Rate Optimization First, we need to start with the general concept of Conversion Rate:
it is a fundamental metric in the ecommerce industry. The conversion rate meaning can be varied for each business. It means the ratio of people who are on step 2 compared to all people who were on step 1. For example for a clothes shop, the number of people who try on a dress compared to the all people who enter the shop is a conversion rate.
Ecommerce conversion rate usually means the percentage of the website’s visitors who take a desired action. For example, the percentage of visitors who buy your product. Or the percentage of visitors who subscribed to your newsletter or downloaded a white paper.
And the process of improving the website and marketing campaigns to increase the number of visitors who take a desired action, such as making a purchase is called Ecommerce conversion rate optimization or CRO.
You can calculate the conversion rate between 2 stages of…
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