7 Ways to Increase Your Online Business Conversion Rate in 2023

Running a business online is always a challenging feat. It requires you to do many tasks, including managing a website and creating social media content to attract, engage, and convert potential buyers.

One of the most vital metrics for online business is conversion rates. If you generate a low conversion rate, it means you are losing potential customers and revenue. And there must be something wrong with your marketing strategy.

There are several ways to increase your online business conversion rates. The methods you use will depend on your business and your customers. However, some general tips can help you escalate the metric.

This article will share some of the best ways to increase conversion rates. Before jumping into the main discussion, let’s explore the basics first, shall we?

What is a Conversion Rate?

Conversions refer to any action you want visitors to take on your website. They can vary depending on your business goals. Some commonly desired conversions by the online business include:

• Visiting a website
• Signing up for newsletters/webinars/events
• Purchasing your product
• Subscribing to your service
• Watching social media video
• Creating an account and more

Meanwhile, a conversion rate is the percentage of people who take the desired action compared to the total number of your website visitors. The higher the conversion rates, the more spot on your strategy to pull in customers.

To calculate your online business conversion rates, you can divide the total page visitors by those who take the desired action. For example, if you get 1,000 visitors and 20 of them purchase your products, you get a 2% conversion rate.

Defining the average percentage for an ideal conversion rate depends on your industry. The average number for business services is 10%, eCommerce 1.84%, and B2B 2.23%. But overall, the median conversion rates are somewhere around 2.35%.

7 Ways to Increase Your Online Business Conversion Rate

Improving your online business conversion rates requires you to be strategic. You have to understand your target customers to be able to satisfy them. Performing market research can be an excellent start to growing your business.

If you’re struggling with low conversion rates and are willing to escalate them, we’ve got your back. Read on to learn seven steps to increase conversion rates for your online business.

#1. Make Personalized or Localized Content

One of the keys to converting visitors is to make personalized content. People love seeing product recommendations tailored to their needs. Personalized content can leave better impressions on your target customers.

91% of customers say they are likelier to purchase brands that give relevant offers or recommendations. You can provide videos, blog posts, deals, or other content that resonates with customers’ preferences.

Many AI marketing tools can help you offer personalized content to people. As they can read your customers’ preferences automatically, you can give relevant content based on their location, behavior, or interactions on your site.

Not to mention, consider optimizing your local SEO, especially if you run a small business. You can reach a wider audience within your area, improve brand awareness, and get a higher chance to make them convert.

#2. Include Social Proof on Your Site

More than 90% of online buyers look for reviews before purchasing products. That’s why including social proof such as customer reviews, video testimonials, or blog post reviews is effective in influencing prospects.

You can also implement social proof pop-up notifications on your sales page. Pop-up notifications allow you to grab visitors’ attention and make them see what people say about your product. They also have the option to explore more social proof or close the pop-up.

Another way to gain credibility is by showing case studies. For example, you want to know customers’ responses about your product or service, so you run a case study. You can put the case study’s significant and impactful results on your sales page.

#3. Create Compelling Copies

Compelling copies for your sales pages are necessary for online businesses. Using the right writing strategies, you can write compelling copies that go a long way to boost organic traffic, engage audiences, and guide them into your sales funnel.

A quality copy doesn’t need to be long, so it’s always better to keep it concise. Focus on pinpointing target customers’ problems, highlighting your product features, and telling how your product can be the solution for their life.

Create short and eye-catching headlines, make bullet points, include strong verbs, and use preferred language style to engage audiences. Besides, make a clear CTA to drive audiences to take the desired action.

#4. Create Fear of Missing Out (FOMO)

Fear of missing out (FOMO) can be a great strategy to make prospects convert faster. There are many ways to implement FOMO on your online site; one is by offering limited offers or deals.

You also have other options to create FOMO, including on-page customer counters, customer testimonials, and case studies. Here is a brief explanation of the three:

On-page customer counter: It requires you to show how many customers are currently using your product or service. You can implement it on your landing, sales, or product pages.

Case studies: Allow you to show how your product or service impacts customers. You can provide percentages or other numerical data to capture the audience’s attention.

Customer Testimonials: Both written testimonials and video ones work effectively on your landing page. Ensure that your product receives at least five good testimonials to influence prospects to convert.

#5. Build seamless navigations and enhance page load time

When visitors land on your site, they come with a purpose. They want to look for and study the product they want to buy. So your job is to make the process of searching, loading, and navigating easy and quick.

Use clean and intuitive navigation on your site. Besides, employ simple steps to buy and pay for their orders. It will be better if you don’t make it necessary for visitors to create an account.

A study reveals that 37% of users abandon their carts when required to create an account. Moreover, you can also implement internal site searches to help visitors quickly look for their desired products.

Another important thing is to optimize your site’s load speed. To make your site responsive and load quickly enough, avoid adding large files. A recommendation is to keep your visual content up to 500KB.

#6. Enhance service with a Live Chat or Chat Box

Many businesses are utilizing live chat features on their websites to increase conversion rates. Live chat allows potential customers to ask questions and receive immediate responses.

Incorporating a live chat feature can be invaluable in the decision-making process. In addition, live chat can help build rapport and trust with potential customers, leading to increased conversions.

You need to consider two things when using live chat. First, ensuring that the live chat feature is prominent on the website and easy to find is important.

Second, ensure that the live chat agents are knowledgeable and can answer potential customers’ questions. Besides, you can invest in a customer self service portal so that customers can find answers to basic questions on their own, while live chat agents can focus on more complex queries, which can lead to increased customer support efficiency and improved customer experiences. Lastly, following up with potential customers after the session is also essential.

If you’re a small business owner, you can use a chatbot to answer frequently asked questions by prospects. You can find many tools to help you incorporate chatbots on your page.

#7. Audit your conversion funnel

There are a few key steps to auditing a conversion funnel. The first is to identify the primary goal of the funnel and then to identify what steps users need to take to complete that goal.

Once you understand the funnel well, you can start to identify where users are dropping off and what might be causing that. After identifying some areas for improvement, you can test different solutions to see what works best.

Below are some questions to note when auditing your conversion funnel:

• What is the overall goal of the funnel?
• What are the specific steps in the funnel?
• What are the conversion rates at each step in the funnel?
• Are there any bottlenecks in the funnel?
• Are there any drop-off points in the funnel?
• Is the funnel optimized for conversion?

Takeaway

You can perform several ways to increase your online business conversion rates. By offering a great product or service, providing a positive user experience, and offering a competitive price, you can encourage more customers to buy from you.

The above points can also help you optimize your online business page and get higher conversion rates. Remember that the journey of optimizing and improving your website will be a lifetime job, so running regular audits and improvements is necessary to grow your business.