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Conversion Rate and CRO: Statistics and Strategies to optimize the Conversion Rate

First of all, let’s do a quick (but fundamental) introduction to the concepts behind the term CRO – Conversion Rate Optimization:

1. The “C” is for Conversion: for an ecommerce the conversion is due to the payment at the end of the purchase. Anyway, according to the type of business and the goals, te conversion can be any action accomplished by the user and measurable, like the subscription to the newsletter, sending a message in a form, the reservation in an appointment etc.

2. The Conversion Rate is a value expressed in percentage by dividing the average of the total number of views and the total number of conversions accomplished in the same period of time. An high value indicates that an ecommerce is able to satisfy its own users. A small value, instead, can be a synonymous of different critical issues (but we will see it later).

How can you calculate the conversion rate? The formula is very easy:
Conversion rate= 
n° total views/ n° total conversions

3. The Conversion Rate Optimization is a strategy due to, indeed, improve all those factors that facilitate the user experience and so it will lead to an increase of sales in your own ecommerce.

What is a good Conversion Rate?

Since the behaviour of the users is influenced by a lot of factors, there is no absolute value for everyone: it depends on localization, devices, the available internet network, quality of the product, brand awareness/perception, marketing activities, etc. 

Anyway, you can find very useful statistics: the one following, in example, report the average Conversion Rate divided by sector: 

Arts and Crafts 3.84%
Baby & Child 0.87%
Cars and Motorcycling 1.35%
Electrical & Commercial Equipment 2.49%
Fashion Clothing & Accessories 1.01%
Food & Drink 1.00%
Health and Wellbeing 1.87%
Home Accessories and Giftware 1.55%
Kitchen & Home Appliances 1.72%
Pet Care 2.53%
Sports and Recreation 1.18%

The informations can be an useful input to quantify the result of your own ecommerce and aiming to improve it!

How can I optimize the Conversion Rate of my ecommerce?

Convince the users to not leave your website without bought anything, is not easy at all. In order to guarantee a fluid and pleasant experience to the clients, you have to act in different fronts with a multidisciplinary team able to formulate a global strategy.
If you already have an ecommerce, here there are some starting points (divided by sector) in order to identify possible critical issues:

UX/CX (User Experience and Customer Experience)

  • Is the path from the home page and checkout fluid? Are there less clear steps?
  • Can the user arrive at a product through different paths? (ex. from the category page or for the search section in the website)
  • Are given to the users trust elements? (ex. indicate the main payment methods) 
  • How many clicks have the user to do in order to complete the purchase? How much time is needed on average? 
  • Can the user track easily information regarding shipping costs and time, contact information, etc.?
  • Can the user receive clear feedbacks when accomplished an action?

Digital Advertising

  • The user that saw your announcements, is really interested in your brand?
  • If an user clicks on the ADV, is he/she in the coherent page?
  • Does your ADVs appear on effectively frequented channels by your target? 
  • Are the performance and prospecting strategies balanced?
  • Do you customize the ADV based on users interests?
  • For each campaign its own KPI: do you track the active campaigns? 

Content Strategy

  • Can the user find all the information regarding his/her interest on your product?
  • Do you communicate your Brand/ product Strengths?
  • Is the information proposed in a clear and easy-to-find way?
  • Are the picture of your product clear and thorough?
  • Is the look & feed of your site reflecting the one of your brand?
  • Is the voice tone of your text coherent with your brand?
  • Do you personalize the content based on interests / market / user experience?

Mail Marketing

  • Are the mail you send actually interesting for each client?
  • Do you exploit the information you collect in order to create more emphatic and captivating contents? (ex. starting an email with the name of the person, offering a birthday discount etc.)
  • Do you itemize the email you send based on the behaviour of your users? (ex. proposing to a client the complementary product in relation to an already done purchase)
  • Do you send a reminder email for an abandoned card?

Ecommerce platform

  • Are your website pages loading fast?
  • For how much time the website “remembers” the information of a non-logged user? (ex. product added on card)
  • Is the ecommerce allowing you to handle everyday operation rapidly?
  • Is the ecommerce platform easily scalable and adaptable to your business model?
  • Is the website up-to-date and does it respect the current regulations?

Actually, these are only some basic examples on what you can do in order to optimize you day-by-day and the outcomes. The good news is that each website and each related strategy always have an increase margin! 

Where to begin?

The first fundamental steps are to know your target ( where are they from? how old are them? what gender are they? which devices are they using’), identify your product and Brand strengths and to know the behaviour and culture of the market you are referring to (which payment methods is preferred? after how many days is the user receiving the purchase?). 

Once compared these information with sales data and business goals, you can proceed with the analysis of the ecommerce and develop a strategy!

How? Our tip is to always and however rely on an external multidisciplinary team being able to analyze your store “with fresh eyes” and without pre-concepts.

“The Future of Branding is One-to-One.”

Jocelyn Robiot, CMO, Adidas

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