The 5 Best Ways to Improve eCommerce Conversion Rates

Cart abandonment is a common problem in both B2C and B2B sales, but the consequences of abandonment can be more severe for B2B eCommerce companies. In B2B sales, losing a customer who seems ready to buy often means losing a big potential long-time spender who can generate many thousands of dollars in profit. That's why it's important to do everything possible to improve eCommerce conversion rates.

Increase Online Sales with an Integrated and Functional Sales Platform

An integrated and functional sales platform makes it easy to offer self-service options for customers that allow them to accomplish hundreds of tasks on a platform without needing human assistance. The five best ways to improve eCommerce conversion rates include the following practices:

1. Simplifying Complicated Checkout Processes

A complicated checkout process ranks as the single biggest barrier to sales conversions. If customers have to enter information to establish an account, place an order, confirm the order and make a payment, they'll quickly become frustrated. That's why integrating back-office and CRM software is so important. An integrated site collects and stores customer data and makes it easier for them to buy products with their data already loaded (name, billing and shipping addresses, credit data, etc.), which tend to improve CRO, or conversion rate optimization.

Price quotes, special pricing and incentives are applied automatically when the platform is integrated, so customers don't become upset when the prices they were promised don't show up on the invoice. This is often referred to as multi-tiered pricing, and comes out of the box with Clarity eCommerce. B2B companies can build trust by reinforcing the following trust factors:

  • Professional branding of products
  • Easy navigation
  • Recognizable brands
  • Customer testimonials and reviews
  • Clear shipping policies and extended options
  • Fast page loads
  • Easy checkout process
  • Fast processing of credit requests
  • Simplified purchase order procedure

2. Relieving Customers Concerns About Making Payments

No sensible company is ready to spend large amounts on a big order with a company that they don't fully trust. A skeptical customer might worry about payment security--especially if the website loads slowly, crashes or has broken links. Designing a functional, fast and professional website goes a long way toward convincing users that the site is legitimate. Featuring links to shipping carriers, third-party research and customer testimonials can also prove helpful.

Offering customers extended payment options is also important. These options might include COD, online checks, bank transfers, purchase orders and third-party payment providers like PayPal. When multiple payment options are fully integrated into the platform, customers are more willing to extend their trust.

3. Offering Expanded Shipping Options

B2B customers often ship big orders to customers all over the world. One-size-fits-all shipping just doesn’t work. Offering customers expanded shipping options is critical to improve CRO, especially if you ship internationally. Customers often need to arrange complex shipping such as drop shipping, partial shipments and shipments to multiple locations. Global shipping often means arranging shipments through multiple carriers to get the best prices and most efficient service. That’s why it’s important to offer customers expanded shipping options and third-party carrier integrations on the site. Integration enables this expanded and automated approach.

4. Calculating Invoices Automatically

If customers can’t easily calculate or follow the costs of products listed on a B2B company’s invoice, they will become distrustful. Transparency is important, and it’s also important to keep a running total of invoice items. That means automated software to calculate taxes and duties from any tax jurisdiction where the company operates. Integration automates these calculations, transfers them everywhere they’re needed and keeps a running total that breaks down every line item and charge on the invoice. The system can even make currency conversions based on the latest exchange rates. This makes it easy for customers to confirm that the invoice is what they expected to pay and that every charge is accounted for accurately.

5. Offering Transparent Pricing with No Hidden Costs

There might be many hidden costs that apply to big orders such as taxes and duties, shipping costs, insurance and other surcharges. About 25 percent of customers mention high shipping costs as a reason for abandoning their carts. [1] Most eCommerce stores lose an average of 75 percent of potential sales to cart abandonment.

The solution is pricing transparency. It's important to include all relevant costs right on the product page. If products require accessories, this fact should be revealed prominently. Offering several shipping options at different rates can also prevent cart abandonment. In some cases, offering free basic shipping might make sense--especially for local customers. Some companies "bundle" the cost of shipping into their product prices and offer "free" shipping, ultimately covering the shipping cost but increasing conversions by offering “free shipping.”

One Solution for Many Causes of Cart Abandonment

There are many strategies for improving online sales and reducing cart abandonment rates. The right developer can help you nurture sales and conversions using all available technology tools. Online shopping can be troublesome for many customers, and companies that make things easier for their customers get better sales results. Some useful conversion strategies include offering a “deals and promotions” page, posting customer reviews of products, displaying photos of happy customers and linking products to compelling content. About 61 percent of customers read online reviews and respond to what they read. [2] Conversion rates rank as one of the most critical metrics, and only about 22 percent of companies are currently satisfied with their sales percentages. [3]

There are hundreds of reasons for cart abandonment eluding the relatively benign reason of outside interruptions, which you can't control. However, an integrated and responsive platform, like Clarity eCommerce, can help to improve your conversion rates even when abandonment is caused by external forces. The platform remembers the order, and a targeted email message can remind customers that their orders are still pending. Integration and intuitive predictions of buyer behavior give your platform a fighting chance to recover a lost sales opportunity while helping to improve CRO and increase online sales. Give Clarity a call to discuss your eCommerce strategy.

References:

[1] Barilliance.com: Top 10 Reasons (and solutions) to Shopping Cart Abandonment

https://www.barilliance.com/10-reasons-shopping-cart-abandonment/

[2] Contentharmony.com: 11 Proven Ways to Increase E-Commerce Conversion Rates

https://www.contentharmony.com/blog/e-commerce-conversion-rates/

[3] Ironpaper.com: What is a Good Conversion Rate? A Guide for B2B Marketers

https://www.ironpaper.com/webintel/articles/what-is-a-good-conversion-rate/

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