What is a conversion?
The conversion is a point when a client responses to the call-to-action by closing on a purchase. However, it may also be an application, registration, call, subscription to the newsletter, and more. All in all, a conversion takes place when the customer performs an action you’re calling him to.
Why you need to increase your transaction conversion rate
Transaction conversion rate alongside many other factors impacts your sales volume. For instance, if only half of your transactions truly convert (or successfully pass through the system), you’re likely to lose customers. People wouldn’t want to come twice to your website to perform the same action. On the contrary, they’ll buy from a merchant with better conversion flow. So, pay attention to your conversion reporting and keep on improving the rates. Payment reports can show you the downside of your payment system.
How to increase your conversion rate
Besides conversion reports, there are other methods for increasing conversion:
- create a unique sales offer with a detailed description of all the benefits that a client can receive as a result of performing certain actions;
- invest in continuous site improvement;
- keep the content on your site up-to-date and add in-depth information;
- offer one-click payments to keep transactions fast and smooth;
- avoid redirections to the third-party payment provider;
- implement a cross-sales feature on all pages;
- keep the checkout page neat and clean with no unnecessary data or elements;
- offer a variety of local payment methods;
- work on the usability of the resource in order to minimize the barriers towards the desired level of conversion;
- strive for simple navigation and usability.
This term is the most important word in the business world. After all, this is what brings in money. Therefore, keep an eye on the reports and work on their improvements!