Wintermag.ro is a business I opened 5 years ago with my friend and co-founder, George Turtureanu. Because it is the first day of spring, I took a moment to look over our past 6 months efforts. I got involved more than full-time in the last 6 months and had some clear goals that kept us focused:
- grow the conversion rate of the shop
- grow the average basket value
- grow the traffic
Of course, apart from these metrics we look closely on other tinier numbers that guide us on our day to day operations. I would like to quickly share with you the results on these 3 metrics and then focus a little bit on what we did to get the conversion rate higher.
- Conversion rate: +25% compared to last year
- Average Basket value: +20% compared to last year
- Daily site visitors: +38% compared to last year
Our conversion rate has grown by 25%, which, from my point of view is very good. Growing it seems easy on the paper, but in reality you have to make a lot of small changes.
Why grow the conversion rate?
The importance of this number for an online shop is huge. Imagine this situation: you own a shop that attracts 10.000 site visits every day, with an average basket value of 100 dollars and your conversion rate is at 1.2%. Your profit margin is 20%. That means that you will have:
Daily turnover: 10.000 x 1.2% x 100=12.000$
Daily profits: 2.400$
Now if we imagine that we have a conversion rate a little higher, of only 1.3%, we would get:
Daily turnover: 10.000 x 1.3% x 100=13.000$
Daily profits: 2.600$
We just added up another 200$ to our profits! Then you multiply it by 30 days in a month and you get 6.000$ extra profits per month with the same traffic. You would probably add some other costs here, like operations, but still it’s a lot of extra money to your bottom line.
How did we grow our conversion rate by 25%?
Of course you can find a lot of ways you can increase the conversion rate all over the internet. I will only tell you what worked for us.
1. Focus on your users’ experience on your website
We focused our attention on our customer journey on Wintermag.ro. We made it easy for them to look for products, find more information about the product: photos, videos, description.
We redesigned two very important pages: the product page, the checkout page: we made them easier to use and faster to browse for relevant information.
2. Tackle your customers’ fear
There are a couple of fears every online customer has:
- it this product really in stock?
- is this shop trustful?
- are the products certified?
- what size do I need? Will it really fit me?
- what if I change my mind?
- do I need to pay extra for shipping? How much?
3. Increase the trust your customer have in you
First thing you need to have to make your customers trust you is a great customer service: sales staff has to be friendly and helpful, it helps to offer all kinds of support: live chat, phone support, email support. The game is changing, customers want to get the information they need fast. Gone are the days when a business answered their customers after a couple of days.
Also it is a very good idea to disclose who is behind the operations. People love knowing more about who is serving them.
For us, this is just the beginning of the Conversion Rate Saga, our personal target is to make it 20% We still have a long way until there.
I would love to hear your opinion and advice on how to grow the conversion rate of a website, feel free to leave a comment below.