eCommerce CRO audit requires a deep understanding of various factors that you need to check and optimize in order to increase conversion rates on products, campaigns, and websites.
Your conversion rate on your eCommerce website is constantly tracked, so I would like to know if you are sure about its accuracy? No! 90% of eCommerce sites break their conversion rate metrics every six months since their eCommerce websites are constantly changing. They have to adjust their conversion rate metrics in order to keep up with these changes.
How is eCommerce Conversion Rate calculated?
The key to understanding your ecommerce success lies in a simple yet powerful formula: Conversion rate = (Number of conversions / Total visitors) * 100. This formula offers a clear perspective on your site's performance. For example, if your site attracts 1,000 visitors and achieves 50 sales, your conversion rate clocks in at 5%. It's a straightforward metric that's pivotal in assessing and enhancing your online store's effectiveness.
What is a good conversion rate in eCommerce?
What's considered a "good" conversion rate in eCommerce can vary significantly by industry. For instance, as of August 2023, arts and crafts lead the pack with a stellar 5.46% conversion rate.
Close behind are health and well-being products at 3.58%, and kitchen/home appliances at 3.23%.
On a broader scale, a conversion rate between 1% to 2% is generally deemed favorable, aligning with industry benchmarks while reflecting the unique facets of your business.
The global average website conversion rate stands at 3.68%, with eCommerce averaging around 2.03%.
What is the conversion rate for eCommerce in 2023?
As of August 2023, the average conversion rate across eCommerce platforms is reported to be about 2.03%. This marks a modest yet significant rise from the previous year, underscoring the dynamic nature of consumer behavior and the digital marketplace.
Keeping abreast of these trends is vital for adapting and thriving in the competitive world of online retail.
You should get a consultation with someone who offers conversion rate metric auditing as a way to track and improve conversion rates on your eCommerce website. A known solution is to hire someone to assist you with tracking and improving your conversion rate on the website.
This is not a cost-effective or scalable method for online conversion rate metric auditing due to the fact that these practices are not cost-effective.
If you are worried about conversion rate metric audits, don't! Heybooster is here to assist you with everything you need.
heybooster can audit the configuration of your eCommerce conversion rate and provide you with an analysis of the ways in which you can improve all of the issues that are currently bothering your conversion rate metric based on the results you get from heybooster.
How to use the results of an eCommerce CRO audit?
An in-depth analysis of a website's functionality and usability is known as an eCommerce website audit. Normally, the audit will include a complete report with suggestions for how to enhance the website.
Review the report and note areas that might require improvement before putting the findings of an eCommerce website audit to use. These can involve problems with the layout, functioning, content, or design of the website.
Establish a strategy to execute the modifications after giving the recommendations a priority. This might entail adding new functionality or features, or updating the website's code, appearance, or content.
After making the adjustments, it's crucial to periodically check the website's performance to make sure they are working as intended. Continually enhancing the website in light of the findings of an audit may aid in boosting traffic, conversions, and income for the company.
Start from Basics: How to perform an eCommerce CRO Audit?
A conversion rate audit is an in-depth analysis of your website’s current traffic that you perform to see where your site can be optimized. Before you start conducting your conversion rate audit, it’s important to understand what your conversion rate means to your business and how it’s calculated. A conversion rate is calculated by dividing the number of sales by the number of website visitors. Conversion rate can also be referred to as “conversion volume” or “conversion rate percentage.” The higher your conversion rate is, the more sales you’ll be able to make. Here are the steps to perform an eCommerce conversion rate audit.
Things to look for during your eCommerce conversion rate audit?
Website design
The first thing you want to look for during your conversion rate audit is the design of your website. Is it user-friendly? Does it include an easy-to-navigate layout? These are important factors when it comes to increasing your conversion rates. You want to make sure your site is visually appealing, but not overly flashy or distracting.
Make sure your website is easy to read so visitors don’t get confused while navigating through your site. You also want to make sure your website’s design is consistent with your brand.
Website load time
The last thing you want to look for during your conversion rate audit is your website’s load time. Is your site loaded with tons of images, videos, and content? If so, it’s likely your site is taking too long to load for customers. You want to make sure your website loads quickly so customers aren’t turned off by the wait.
Product pages
The next thing you want to look for during your conversion rate audit is the quality of your product pages. Do your product pages include relevant information about your products? Are there product images included on each page?
How are your product pages laid out? You want to make sure your product pages are detailed enough to answer any questions your customers might have. You also want to make sure product images are high-quality and relevant to what you’re selling.
Paid Campaigns
When delving into paid campaigns as part of your CRO audit, several key elements demand your attention:
Ad Relevance and Targeting
Ensure your ads are highly relevant to your target audience. This includes tailoring the message, using specific keywords, and targeting demographics that align with your customer base.
Landing Page Optimization
The landing pages for your campaigns should be optimized for conversions. This means clear call-to-actions, relevant content, and a seamless user experience that aligns with the ad's promise.
Budget Allocation and ROI
Assess how your budget is allocated across various campaigns. Focus on campaigns that offer the best return on investment and consider reallocating budgets from underperforming ads.
A/B Testing
Regularly test different elements of your campaigns, such as ad copy, images, and landing pages. A/B testing helps in understanding what resonates best with your audience.
Analytics and Performance Tracking
Utilize analytics tools to track the performance of your campaigns. Pay attention to metrics like click-through rate (CTR), conversion rate, and cost per acquisition (CPA) to gauge effectiveness.
Customer Journey Alignment
Ensure that your paid campaigns are aligned with the customer journey stages. Different messages and strategies may be required for awareness, consideration, and decision stages.
By focusing on these areas, you can refine your paid campaigns to better serve your overall eCommerce strategy, driving more effective conversions and ultimately enhancing your CRO efforts.
Tips for implementing changes after an eCommerce website audit
An eCommerce website's performance may be enhanced and sales can be raised by making modifications based on the audit's findings. Following an eCommerce website assessment, use the following advice to execute improvements successfully:
1) To identify the areas that require improvement, carefully read the audit report. Specific suggestions and instructions for updating the website should be included in the report.
2) Establish a strategy to execute the modifications after giving the recommendations a priority. This could entail adding new tools or features, updating the website's operation, look, or content.
3) Make the required changes to the website by working with your team or, if necessary, by hiring outside specialists. Be careful to extensively test the modifications to make sure they are operating as intended and having no unfavorable impacts.
4) After all the modifications have been made, keep an eye on the website's performance to observe how important metrics like traffic, conversions, and revenue are being affected. Utilize this data to fine-tune the adjustments and keep enhancing the functionality of the website.
5) Don't forget to let your consumers know about the changes. Inform them of the website updates you've made and how they will benefit them. Customers' trust and loyalty can be increased as a result.
It may be a lengthy and difficult process to apply modifications to an eCommerce website based on the findings of an audit. However, by implementing these suggestions and remaining committed to enhancing the user experience, you may support your company's efforts to increase traffic, conversions, and sales.
How often should you perform an eCommerce website audit?
To make sure that the website is operating efficiently and offering a high level of customer satisfaction, it is typically advised to undertake an eCommerce website audit on a regular basis. The size and complexity of the website, as well as how frequently it is updated and modified, will determine how frequently the audits are conducted. An yearly audit could be adequate for smaller websites with limited functionality.
An audit should be conducted more regularly, such as every six months or even every three months, for larger and more complicated websites. Performing an audit after any significant website upgrades or modifications may also be helpful. By doing so, you can make sure the website keeps running well and find any possible problems.
