Ecommerce Conversion Targets: How to Go Above and Beyond
If you want to grow your eCommerce business, you will need to set realistic and manageable conversion targets.
This is crucial for getting a good idea of how well your e-commerce business performs when generating revenue.
However, not everyone can reach their targets each month.
Your business could miss out on high-value opportunities and lose customers who have become disinterested in your brand.
You don’t set conversion targets so that you have a baseline for doing enough. You have targets that you need to surpass each month to achieve the overall goal of growing your business.
When it comes to running your e-commerce business, you shouldn’t settle for good enough.
Make it your goal each month to go beyond your conversion targets.
Consider these essential tips to help you grow your e-commerce conversion rate before the year ends:
1 – Build a solid foundation
Your success in growing your e-commerce business will depend on the targets you need to hit.
It makes sense to come up with goals and benchmarks you can easily reach.
You wouldn’t want to set your targets so high that you wouldn’t have a solid basis for your e-commerce strategy.
Likewise, it doesn’t help set targets that won’t provide you with crucial growth opportunities.
Your best bet would be to use your business model as the basis for your conversion targets.
If you focus more on increasing your customer base locally, start with a workable baseline on account of the resources and platforms you already have.
You should also identify the actions (or micro-conversions) that potential customers should take before purchasing.
Should they share your social media content or click on a link on your newsletter?
Knowing these essential steps helps you hone in on what to improve in your marketing and sales processes.
2 – Define your target clients
Once you have a solid basis for optimising your e-commerce business, you now need to identify the people who will most likely end up buying a product from your online store.
These people are your target customers, and they have specific needs that your business can satisfy.
It’s only a matter of defining who they are so you can build a message that resonates with them at a deeper level.
Apart from location and age group, you need to understand how they navigate online and interact with certain types of content.
As you do so, you will realise that specific demographic segments respond differently to emails, blogs, and other assets.
You can use this knowledge to refine your content strategy in a way that engages your target audience.
Narrowing down your efforts this way helps you attract people who won’t take long to convert.
3 – Optimise your sales funnel
After you have defined your target audience, you will need to chart their journey from initial engagement down to conversion.
With a proper sales funnel, it will be easier for you to create and distribute the correct content based on the prospect’s level of interest.
Starting with the awareness phase, you need to create content that educates and provides value to your audience.
Look towards blogs, videos, and infographics that talk about specific pain points.
As they enter the middle of the funnel, you can engage prospects further by offering case studies and downloadable content.
These should provide ample information about your brand and how it can help them resolve specific issues.
You can also accelerate their transition to the conversion phase by setting up lead magnets such as quizzes, samples, and e-books they download for free.
At the decision stage, consider providing vouchers and coupons they will need to use before expiring.
These should give your audience an extra nudge towards making a purchase.
Optimising your sales funnel requires aligning your efforts with the habits and behaviours of your audience.
To make sure your e-commerce campaign doesn’t lose steam, it’s vital that you track your analytics and make improvements that will push the conversion rate even further.
4 – Invest in an effective email campaign
When it comes to nurturing and converting e-commerce prospects quickly, you can never go wrong with a properly executed email campaign.
You have to double down on generating the right contacts and creating content that people will want to open and click-through.
Mining the email addresses of potential customers is a challenge considering the amount of time it takes to find and verify leads.
It helps to have data miners and lead generation specialists finding the right customers for your e-commerce brand.
If you want things to move faster, you always have the option of buying email lists from a third-party provider.
Depending on your industry, you can check out email list builders such as Bookyourdata to help you find high-value leads in your industry.
Once you have an email list at hand, you need to design email content to help you meet your conversion targets.
You don’t have to be elaborate and sales-y in your emails.
Just focus on developing a great value proposition and personalise each email for each prospect you engage.
5 – Reach out to influencers and brand ambassadors
Today, consumers are becoming more meticulous when it comes to engaging brands they have just discovered online.
With that being said, it’s essential that you add social proof to your messaging and develop your credibility in your industry.
The best way to do this is by connecting with potential brand advocates.
These are simply personalities who have enough online clout to influence buyer decisions.
You will need to seek out influencers and thought leaders within your current customer base.
From there, you can offer a loyalty program that incentivises them for mentioning your brand.
This will only be possible if you can provide excellent customer experiences that will motivate potential advocates into helping your e-commerce business grow.
When it comes to improving your conversion numbers, the tips above should give you a good idea of what to do if you hit below your targets.