90% of eCommerce that trying to scale, usually focus on doubling down the acquisition and scale based on the business economics, every $1 spent they will get return of lets say $4.
However, they didn’t realised that there is in fact much smarter way which is often neglected and it is what we called it the “low hanging fruit” strategy.
For example, every 1second improved in mobile loading speed will actually help the conversion rate to increase by at least 10%. And there is what we call it the magic of compounding, where small tiny fix on other part of the website will actually gets you another 10% and the list could go on for 8-10 areas.
Im listing down the strategy here where you can optimise as following:
Speed is crucial, it’s the most important element in improving conversion rate. Millenials these days have really short atttention span any if any website loads for more than 3 seconds they will move on to other website.
However, optimising for eCommerce speed is extremely hard and confusing if you are first timer. Most people would get burried in 101 things to optimise but in actual, by applying 80/20 rules you will be able to fix 80% of the speed by just spending 20% of the effort.
The biggest chunk of files and issue will always be images. The way to optimise this quickly and efficiently is to optimise your image and reduce the size but not quality.
Does your client able to get to the right product that they are searching on your website or are they lost buried in thousands of SKU and confused where to navigate?
When they try to learn about international shipping fees while browsing your FAQ section, do they really get what they wanted to know?
When they placed the wrong product size, did they experience good support that help them to change the order manually and ensuring them it’s going to get fixed?
These are small little details that make the client feel comfortable and ease buying from your brand. This is also the reason why they would come back and buy from you again.
Image and video quality
People don’t buy what you do, they buy why you do it. And of the way to get people buy is to show what your product can do and inspire them with beautiful pictures.
Especially if you are selling luxury item, people buy because they wanted to feel luxury and your photos have to let them being able to imagine the luxury of it.
Free shipping is extremely important and it will impact 10% of your conversion rate. Some use shipping fee as a strategy to get more sales like buy 2 gets FREE Shipping, and with proper pricing strategy you would be able to get good margin based on Average Order Value (AOV) and Lifetime value (LTV)
Most people who abandon shopping cart is not because they have no more interest, but because they are too occupied with the internet. They are basically mulit-tasking, and your cart became priority later on.
One of the way to improve cart abandon is by retargeting, with 10% discount code if they complete the product order within 1 hour.
This actually would give them a strong desire to drop everything that they are doing right now, and focus on completing your shopping cart right away.
As the eCommerce industry is growing, trust has became the #1 issue for eCommerce to solve as there are literally thousands of new brands released in the new market and people will be more cautious before they pull out the credit card to purchase that item.
It will be your part to make them trust you, some of the way is to improve your social influence like using some 3rd party review apps for your ecommerce.
Have them to also leave your reviews on Google, Facebook, and other social media because whatever search results that returned on Google, they will actually read everything about what others said about your product, especially if they are the bad reviews.