You’ve seen an increase in the number of visitors to your website. Plus, you’re getting more leads in your sales pipeline. While you’re excited about the surge, you’re also a bit disappointed — these prospects aren’t buying. Something is holding them back, but you’re not sure what it could be.
It’s an all-too-common situation. You’ve got potential customers who are on the fence. Without the right incentive, they won’t convert. And this behavior isn’t limited to your leads. Current customers you’re trying to upsell may be holding back, too.
So what can you do to give hesitant consumers a little push? Improving conversion rates is as much about understanding what motivates people as it is about discovering what doesn’t. Below we’ll explain six ways you can up your sales conversion game.
Go After Abandoned Cart Revenue
Unfortunately, shoppers often abandon their online carts. These consumers are the classic on-the-fence customers. They’ve taken the time to browse your site and select desired items. Yet they got second thoughts at the checkout screen. The reasons for cart abandonment include anything from a lengthy checkout process to wondering if there’s a better deal somewhere.
Reclaiming abandoned cart revenue is one of many retention marketing strategies businesses can use. Reminding shoppers about their selections via email can be an effective tactic. Adding exclusive discounts and offering free shipping are others. But surveying customers about why they’re leaving their carts behind will help get you to the right solution faster.
Define What a Conversion Means
This step might seem obvious, but some companies don’t define what conversions mean. For a few businesses, conversion is only an online sale. Other marketing leaders have broader definitions. Conversions may mean going into a store, completing a digital form, or chatting with a sales rep.
Before measuring your conversion rate, determine what you want customers to do. What does success mean to your business along various stages of the buyer’s journey? Maybe you’ve noticed most digital and in-person prospects are moving through the sales funnel to the decision stage. After that, you lose people to competitors offering bundled savings, so you implement a similar program. To you, the desired action is a completed online or in-store sale, so you make changes accordingly.
Communicate Unique Value
Not every offering is a commodity. Nonetheless, a sea of choices makes many products and services appear this way to consumers. Price-sensitive shoppers will wonder why they should buy your product if a reasonable substitute is available. But even without cost as a customer’s motivating factor, they need convincing reasons to do business with your company.
Usually, appealing to shoppers’ basic needs isn’t enough for long-term success. They want to know what unique benefits products offer. What value can shoppers get from your company that competitors can’t duplicate? Maybe it’s your in-store experience, remarkable customer service, or product ingredients. Communicate your distinct selling points to make your company’s offerings stand out among your targeted consumer base.
Give Enough Information
If someone went through your product pages, could they figure out what you’re selling? Websites without enough detail can turn away interested buyers. Say a lead lands on a page describing a smartphone accessory. It’s a power adapter, but the official product name doesn’t clarify its use. The bullet points underneath the item don’t communicate this either.
Instead, the words spell out the manufacturer’s lifetime warranty and the product’s dimensions. While these insights might be helpful to some shoppers, others may leave the page because they’re confused. Adding blurbs with summaries of what the adapter does and why consumers should choose it can clear things up. Product demonstration videos are even better. Give shoppers the information they need to decide while spelling out a distinct value.
Make the Checkout Process Easy
The average online cart abandonment rate is approximately 70%. While shipping costs and other fees are the leading cause, complicated checkout steps come in second. About 24% of shoppers will abandon their carts if a site wants them to create an account. These are extra steps consumers don’t want to do for many reasons. It takes more time, and they may not want to exchange their personal information with yet another website.
It’s the equivalent of waiting in a long checkout line at the store. You’re giving shoppers time to second-guess their purchases while testing their patience. Offering guest checkout and account integration options lets them skip to the virtual register. Account integrations could include single-sign-on choices using social media and digital wallet credentials. When you remove the complications, customers are more likely to follow through.
If customers are unsure about something, they back away. Low confidence in your company, your website’s security, or your products will keep prospects from buying. Poor customer support will also lower consumers’ enthusiasm. Online stores with broken links, unprofessional designs, and confusing navigation menus will keep shoppers on the fence.
Build trust with consumers using customer reviews, secure web addresses, and indicators of professionalism. Including associations with thought leaders, industry certifications, and business organizations can also add to your company’s credibility. Even so, you want to offer ways for leads to connect with you. Having an online chatbot is great, but tech may not be able to do all the work. Remember, certain consumers may want a human representative to answer their questions.
Convert More, Sell More
It can be frustrating when conversion rates fall flat. Nonetheless, customers’ reluctance usually points toward fixable issues. Sometimes it takes experimentation to discover the right improvements. Implementing effective retention marketing strategies means clearly defining your goals, identifying conversion obstacles, and overcoming those shopping barriers.