15th Feb 2022

WooCommerce: Conversion rate

Wordpress

Written By, Pooja Paghdar

Overview

As per today’s situation, about 5+ million e-commerce websites are using the WooCommerce platform. To survive and thrive, you need to know where you stand in this competitive and crowded community. You should have to find a way to attract users as effectively as possible. In addition, you should try to make it easy for users to find what they are looking for as soon as possible.

One thing is clear from these numbers and this vicious market that you need to be specific and fast to attract users so that they can see you as an alternative and monitor your marketing activities to increase the chances of converting them into customers. And optimizing… but, how can you achieve that? Do you have any tools to help you do this?

Some believe that your website personalization strategy has the greatest impact on improving your WooCommerce conversion rate – before website design. In this blog, I’ll show you how to tap and track conversions in your WooCommerce store for user interests, attributes, and behaviors.

What is Conversion Rate in WooCommerce?

Your conversion rate is the percentage of visitors to your website who take the action you want. Depending on the goals you set at different stages of your website, once visitors reach those goals, you can count them as new users or converted users.
woocommwrce_conversion_rate_shopping
Dividing the number of users converted for a particular event by the total number of users involved in that event gives you a conversion rate.

The formula of Conversion Rate:

For example, if the conversion (sale or desired action) is equal to M and the total number of visitors is equal to N, then the conversion rate is (M / N) * 100.

Why is boosting your WooCommerce product page conversion rate is necessary?

Conversion rate is the most important factor for any industry. With the conversion rate, you can know the profit/loss status of your industry. Because it shows if your business is on the right track or not. In the current situation, you should always try to increase your conversion rate and keep it high. The success of your business depends largely on it. That’s why you need to optimize your WooCommerce product pages in a way that will help you increase your conversion rate.

Here are some reasons to measure and track your WooCommerce conversion rate.

  • It will increase the ROI of your industry.
  • It will help you better understand your users and new traffic every day.
  • You can increase the popularity of your brand through it.
  • It will help you to execute any marketing strategy more successfully.
  • Divide your audience With this, your business will expand day by day.
  • It will help you create a high converting product page.
  • Set up an instant chat option.
  • Send notifications to newsletter subscribers with special offers.
  • Encourage users to make purchases based on their page visits.
  • Show abandoned items on the homepage.
  • Display amazing Exit-Intent popups.
  • Using FOMO to reconnect inactive customers, you can send emails to these users and include products with discounts for a limited time.

Google Analytics is a free web analytics tool that tracks visitors and page views to your site. It’s a reliable measurement tool to add to your site: WooCommerce Google Analytics will get you integrated, set up, and get started for free.

Steps to follow to boost your WooCommerce product conversion rate

  • Make it easy to find the right product. For this, you can Improve onsite search, site navigation, and product comparison.
  • Optimize landing pages.
  • Simplify checkout.
  • Add more call-to-action buttons from Discover to Choose.
  • Customize your product page layout.
  • Collect reviews from customers.
  • Add rich and sufficient information about your products.
  • Run promotions and offers including scheduling discounts, running flash sales, and using coupons to increase urgency.
  • Make products easy to buy with Enable Guest Checkout and login with a social media account.
  • Display prices in local currency and offer multiple flexible payment plans to purchase.
  • It should provide a Partial payment option in case of a costly product.
    Discounts and free shipping also affect this.
  • Another gentle way you can encourage people back is by making it possible for them to set up a wishlist. If they are window shopping, or maybe they just need a little more time, WooCommerce Wishlists could be a helpful tool.
  • Use quality images and videos.
  • Device responsiveness.
  • Quick Checkout feature.
  • Create Urgency with limited stock or limited time period discounts.
  • Add customer reviews and ratings.

Reasons for low conversion rate

Before implementing the above tips, you need to make sure that there are no reasons to leave high carts on your website. Now you may be thinking about the reasons behind leaving high carts. Take a look at the reasons for dropping high carts that need to be addressed urgently.

Here are five reasons to skip for the top cart of your website. Read the following five reasons and how you can solve these problems.

  1. High Shipping Cost
    Many customers add products to the cart but due to high shipping costs, they leave the cart without placing an order. As a result, just for the shipping cost, you will have fewer conversions which are not acceptable at all. So, you need to get rid of this problem because 63% of customers leave the cart because of this problem.

    Solution:

    • Reduce unnecessary costs by reducing the size of the package. As such, do not use large boxes for small items.
    • When you don’t need a box for your product, go for a polybag.
    • Find shipping companies that deliver products at low prices.
    • Take advantage of offers for bulk shipments.
  2. Re-enter shipping info
    25% of carts are discarded due to re-entry of shipping information. Your customer’s user experience will be low and this will force them to leave the cart immediately. Also, they will never come to your site to buy more and if they do, only a few customers will come to shop. That’s why you need to resolve this re-entering shipping information as soon as possible.

    Solution:

    • Check your checkout option after providing shipping information to see if an order has been placed. If not, then find out all related issues and solve those issues for a smooth payment method.
  3. Re-enter credit card info
    If you make your checkout process difficult, it may be that customers do not understand the process and need to enter credit card information again and again. This is the reason behind the 30% abandonment of your cart. This percentage is not small. When a customer re-enters credit card information, their satisfaction is also reduced. That’s why they leave the cart and go to the shop page of another website. You need to resolve this issue as soon as possible to optimize your product page conversion rate.

    Solution:

    • Check that your payment method is working properly or not. Fix the problem as soon as you find it.
  4. Discount code doesn’t work
    Sometimes your customers will be unable to use the discount codes you offer. This will have a negative effect on your brand. Because your customer will think you have given a fake discount code. It is very harmful to our brand. In a survey, Statista.com found that 46% of cart abandonment is caused by this problem.

    Solution:

    • If you have added terms and conditions to your promo code, make it clear to your customers. For example, minimum purchase obligation, login to avail benefits, one-time use, etc. Don’t hide it.
  5. High Product Shipping time
    Customers always prefer fast product delivery. When they see that it will take a long shipping time, they will leave the cart. Research has shown that customers drop 36% of their cart due to longer shipping times. Also, your customers will be happy if you can deliver the products early. Take a look at the solution for higher shipping times.

    Solution:

    • Deliver the products to the shipping company as soon as possible.
    • Choose a shipping company that takes less time to deliver products.

What conversion rate is considered a good conversion rate?

If your conversion rate is less than one or one percent, it is not considered a good conversion rate. Because a good conversion rate is between 2.35% and 5.31%.

Therefore, your target conversion rate should be between 2.31% to 5.31%. Follow and apply all the tips to increase conversion rate to make your conversion rate higher. And also find problems and solutions that will prevent you from having a high conversion rate.

Conclusion

I hope that you will find this blog helpful for what is conversion rate in wooCommerce is and the reasons for the low conversion rate for the product page.  In the future, We will learn how to increase the conversion rate through pre-sales activities.

Written By,

Wordpress Developer at Yudiz Solutions Ltd