Convenience is everything when it comes to online purchases. And it's not about the math constant ℼ but about a constant in ecommerce that helps retailers get a bigger slice of the pie: conversions. Ecommerce businesses know all too well how small barriers to purchase can make a big difference in conversion rates. For many consumers, a couple of extra clicks or mere seconds of work is all it takes to go from wanting a product to giving up on it.
So how can you optimize for higher conversions?
For starters, even people who love shopping find some aspects of it tedious. No one ever gets excited about filling out a form with their credit card information. Here are five ways to help your customers get excited about their shopping journey and boost your conversions.
1. Offer rewards
The average global Ecommerce conversion rate is 3.29%. However, when customers activate cashback rewards, they are up to 10 times more likely to make a purchase. Incentives also build brand loyalty. The reward, if offered earlier in the shopping journey, can be a huge draw for consumers to complete their purchase. Rewards programs are known to increase customer retention by gamifying the experience with greater rewards as shoppers make more purchases.
2. Add trusted symbols and social proof
People generally trust brick-and-mortar stores more than Ecommerce businesses. So, if you're not a household name, it helps to display trusted symbols from big companies that shoppers already trust. 76% of customers are more likely to make purchases on an Ecommerce site with a safe checkout badge like Mastercard or Visa, or if they see their checkout is powered by a network they trust, such as Bolt.
You can also use social proof by posting testimonials on your site from satisfied customers. And encouraging existing buyers to share on social media with promotions helps elevate your brand with a trusted voice that people know. This provides proof to newcomers that your brand is trustworthy.
3. Make purchases easy for customers
The internet is full of distractions. So expecting consumers to go out of their way to come to you can be a losing proposition. To reach people, you need to go where they're already spending their time so they can buy at the point of inspiration, like when they see your product in a TikTok post or video.
People will never feel the same connection with a brand that they do with another human being. That's why buying a product directly at the point of inspiration with no redirects or additional paperwork is a fast and intuitive digital experience.
Commerce Everywhere by Bolt gives shoppers the freedom to make a purchase as they're reading an article or watching a video on a social media platform–all with just one click. Don't miss an opportunity to reach your target customer when they are already engaged. Best of all, Bolt orders flow into your existing workstreams, so orders come in as if they took place natively on your website.
4. Unlock sales with CRO
As your business grows, so will traffic to your website. Leveraging data-driven practices like conversion rate optimization (CRO) to analyze your business and making improvements to maximize revenue is critical to success. Identify which products are performing well and which need attention. Launching A/B tests will allow you to determine which elements of your site perform better.
For Ecommerce brands, all of this adds up to more sales. The more you optimize your Ecommerce store for conversion, the more sustainable you'll be. And when you prioritize driving sales in your store by making shopping as easy as possible, the profits from those sales will roll in.
5. Ensure a fast checkout process
One effective way to speed up your checkout is by turning on Bolt One-Click Checkout with your existing shopping cart. It only takes a couple of minutes to flip it on, and leads to a 52% faster checkout than on average. Customers can purchase what they want in just one click with no interruption to their shopping experience. They get the fun of shopping–picking out a product they like and getting the package in the mail in a few days–minus the tedious parts.
Bolt's One-Click Checkout checkout ensures the checkout process itself is fast. In addition, they can use the payment option of their choice (PayPal, Apple Pay, Klarna, etc.). Best of all, once shoppers have bought using Bolt One-Click Checkout, they can get one-click checkout on any other retailer using Bolt, even if they've never been to that online store before.