How To View The Conversion Rate Of The E-Shop?
In e-shop web analytics, many metrics are good to monitor. In this article, we will look in more detail at the conversion rate of the e-shop and ways to view it.
A very important metric that needs to be monitored for e-shops, in general, is the conversion
rate of the e-shop. It is a number in relative terms that indicates the ratio of successful orders to the website’s total traffic.
The effort should therefore be to take steps leading to an increase in the conversion rate. Then it is necessary to realize and find out where the problem occurs in a relatively low conversion rate and where there is potential for improvement that will lead to an increase in the overall conversion rate. Therefore, it is necessary to look at the given number in a much deeper context.
The entire journey of a potential customer through the e-shop can be divided into two parts. First of all, it is important that the e-shop attracts customers’ attention, instills confidence in them, and makes them want to buy the products. The customer expresses this by placing the product in the basket with the decision to buy.
Once potential customers have products in their cart, we want them to complete the purchase process as successfully as possible. However, if we look at the conversion rate as a single number, we will not find out where our e-shop has a problem or where there is potential for improvement.
How to look at the conversion rate in more detail?
We usually divide the overall conversion rate of the e-shop into two partial conversion rates. First is the conversion rate of adding to the basket. That is the ratio of placing in the basket to the number of total website visitors. And then it’s the conversion rate of the cart, i.e., the ratio of successful orders to the number of additions to the cart. When we multiply these partial conversion rates, they give us the total conversion rate of the entire e-shop.
Add-to-cart conversion rate
It expresses the ratio of placings in the basket (clicks on “Add to basket”) to the total number of unique visits to the website.
This conversion rate is mainly influenced by:
- how your e-shop can attract people,
- whether it can inspire confidence to buy the products,
- whether it can provide all the necessary information for a purchase decision,
- whether the visuals of the products can attract attention,
- whether you provide advice on product selection (sometimes important due to the nature of the product).
In the context of this metric, it is also good to monitor the average time on the page, the number of pages per visit, or how deeply the person was interested in the products. Optionally set micro-conversions such as using a filter on the web, clicking on products in detail, viewing product categories, etc.
What is the cart conversion rate?
The metric calculated from the moment of adding to the cart is the cart conversion rate. That is the ratio of people who went through the entire shopping process and successfully sent an order to people who put the product in their cart. A stumbling block often arises here. When the shopping process that starts with adding to the cart is poorly optimized, many people can end up right in the cart and abandon it.
It can be assumed that people who already had the product in the cart did not put it there by accident, missed click, etc. With a high probability, these people were interested in the website and products, actually clicked through the website and looked at the products and information about them. However, something happened that deterred them from completing the purchase after adding the product to the cart.
Why do potential customers abandon the cart? Resp. What can cause a low cart conversion rate?
The following are the most common reasons:
- High delivery charges
- Forced account creation during the order
- Insufficient options for choosing a payment method
- Untrusted payment gateway (reluctance to enter payment card)
- A long and complicated purchase process
- Technical errors in the purchase process
- Bad return conditions
- Long delivery time
When trying to analyze the conversion rate of the shopping cart, it is good to follow the entire shopping process in as much detail as possible so that we can identify as precisely as possible which step the problem arises. That is, where most people leave the order, and they could subsequently optimize it.
However, it should be kept in mind that the conversion rate is not the only thing to monitor. Like all metrics, the conversion rate must be viewed in the context of other metrics. You still need to monitor average order values, ROAS, absolute order values, etc.
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