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02 December 2014

Don’t Waste Time! 5 Conversion Rate Optimization Myths Debunked

Don’t Waste Time! 5 Conversion Rate Optimization Myths Debunked
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By Joy

Top-5-Conversion-Optimization-Myths-Debunked

I changed the landing page of my Ecommerce site and guess what? Suddenly I noticed a drastic boost in the conversion rate of my site. Do you think that a mere change in the landing page of your website could yield sufficient revenue for your website? Well, it might seem factual to some of us because most of the times, we go through posts over the internet with heading or subheading as “change your landing page and increase your sales automatically”.

It’s true that internet is the store of unlimited information from where you can learn strategies for keeping your ecommerce sales high all through the year, however, yet there are some common myths about the conversion rate optimization for ecommerce sites that should be deflated for accomplishing assured success.

If these myths are not debunked on time, it might affect the overall revenue of your website. Conversion rate optimization is not all about following some standard tactics for driving leads to your website, but it is also about digging some real facts that should not be ignored by all ecommerce entrepreneurs. However, before doing so, it is important to know the causes behind the low conversion rate of websites.

Why Low Conversion Rate- Important Stats to Know

We might think that if we change the look of our website or the product organization, it will enhance the conversion rate. However, when you will check some vital stats related to conversion rates of all online stores, you will be surprised to know that the conversion rate of most of the ecommerce websites is around or less that 5%. It means that out of 20 visitors on your site, only 1 or no one can make a buy from your site.

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Here are some important stats, which will help you in understanding that it is harder even for established businesses to achieve higher conversion:

  • Majority of ecommerce websites have sufficient traffic on their sites but still the conversion rate range typically from 1% to 3%.
  • Only 22% companies are contented with their conversion rates and most of companies are showing a decline in their contentment with their conversion rates.
  • In fourth quarter of 2013, the average conversion rate of US ecommerce websites across different devices was only 3.06%.
  • Smartphones reported for even lower conversion rate of mere 1.01%.
  • Lack of budget (35%) and resources (54%) are major hurdles in increasing significant conversion rates for the ecommerce websites.

These stats show the frequency of successful conversion rates in the past few years, but the scenario is not much different in 2014 as well.

According the VWO survey conducted on online shoppers of US in the year 2014 to check what motivates them to “buy”, the increasing maturity of online buyers have made it difficult for the ecommerce retailers to maintain balance between the marketing efforts and leads to conversions.

Myths related to Conversion Optimizations

Now, when you have come across the stats that represents the truth of the actual conversion rates of ecommerce websites, it is equally vital to know some common myths about the conversion rate optimization that should be avoided to ensure successful sales.

Myth 1.All Visitors Have Same Perception for Your Website

Do you have sufficient amount of visitors on your online store? Do the people visit your website with similar purpose of making a purchase or they just visit your website for checking some information about a product or so? It is not simple for us to interpret the real intentions of our forthcoming visitors unless they have left our site after their visit. However, before implementing any conversion rate optimization strategy, it is important to bring sufficient traffic on your website.

Once you are successful in driving traffic to your website, you cannot simply presume that all visitors visit or use your website in the same way. This is one of the biggest myths held by most of the ecommerce entrepreneurs. Intuition cannot help you in achieving success in this highly competitive ecommerce industry, but you must follow certain criteria to categorize your visitors, which are listed as follows:

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Once you have applied these criteria for segmenting your visitors, you can personalize your services as per the segmentation to improve chances of sales on your website.

Myth 2.Adhere with the Standard Conversion Rate Optimization Tactics

My competitor follows standard optimization rate tactics and it has seen 200% boost in its sales. Most of the times we read or heard it from ecommerce retailers, but it’s mistakenly interpreted contemplation about the conversion rate optimization, which we often read on internet. There is no such perfect rule that can guarantee 100% enhancement in your sales with its implementation. Don’t try to stick with the standard tactics.\

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It is true that are some standard tactics that helps in improving your ecommerce sales drastically, but you should be aware, which of these tactics will definitely give positive results according to your expectations. Therefore, synchronize your business strategic approach with these standard tactics as your conversion rate success depends on the achievement of your business goals.

Myth 3.A/B Testing Gives the Best Outcomes

Is A/B testing the real factor in deciding the improvement of conversion rate of your ecommerce site?

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It is important but it cannot be defined as the sole factor for affecting the overall conversion rate of your online store positively.

Most of the times, I have come across many online store owners, who like to put the color of the “buy now” button on their site to A/B testing without knowing the fact that increasing the visibility of this button might affect the visibility of sizing options thus leading affecting the conversion rate of website negatively. Therefore, implementing A/B testing to improve the conversion rate is one of the most common myths among the ecommerce store owners, but they should know that the success of conversion rate optimization can only be ensured by understanding the actions that help in improving the purchasing behavior of their visitors

Myth 4.Replicating a Website of Successful Competitor Ensures Success

You might think that having a clean and modern looking website similar to your successful competitor’s website will definitely bring higher conversion rates. This myth is same as the first one where the ecommerce owners hold the general perception about their visitor’s intentions

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You might gain significantly higher conversions if you will copy a successful website or you might face a significant drop as well. There is no assurance that you will get the positive results only because merely changing the outlook of your website by copying your rival’s website might not addresses all problems that are actually hurdling your conversion rate.

Hence, instead of putting your efforts in copying the look of some other website, it is better to check the statistics of your website performance to implement the effective conversion rate optimization tactics.

Myth 5.Conversion Rate Services Are Heavy on You Pockets

Most of us hold the opinion that the conversion rate optimizations services might pay heavy on our pockets, but this is again a falsehood that majority of store owners had. In fact, the conversion rate optimization services are more efficient than the paid advertising services and it also lessens the cost of customer acquisition. Therefore, it is wise if you choose to invest in conversion rate optimization because it helps in bringing new visitors via your existing customers thus strengthening your customer relationship appreciably.

You will be astonished to know that a little increase in conversion rate can improve your company’s profit significantly. Hence, you can promote your brand among your target audience through discounts and offers, which are best way of changing your visitors into raging fans of yours.

It is wise if you select your conversion optimization tactics carefully by keeping in mind these general misconceptions that often cause a negative impact on the overall revenue of your online store. I have listed here those myths, which are certainly regarded as vital contributors of putting any ecommerce website’s performance down, however, if you have more ideas, please let us know through your comments

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