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An e-commerce site’s conversion rate refers to the percentage of visitors who successfully complete your intended action. E-commerce conversion goals can be anything from getting more social media shares to getting more email signups to having visitors adding products to their carts and visitors making actual online sales.
While the average e-commerce conversion rate is between two and four percent, we are sure that your goal isn’t just to be average, right? That’s why you should learn about these 10 ways that B2B e-commerce businesses can use to boost the conversion rate.
Increase E-Commerce Site Security
Today, cybersecurity has become one of the most critical aspects of e-commerce. Without adequate proper protocols in place, business owners may put themselves and their customers at risk of hacking incidents and payment fraud (enabling CVV for debit and credit cards).
It’s important to set up an e-commerce site with an SSL certificate (https://www.yoursite.com); it is that little ‘lock’ icon that you see on the browser. B2B e-commerce retailers should also showcase logos of their payment providers, as well as other trust seals and badges.
Implement Chatbot and Live Chat Features
Buyers want personalized customer experiences that fit their needs (as if their procurements were happening at a physical location). That’s why your e-commerce site will get better responses with the aid of live chat features. Why? One can remove buyer-seller friction by facilitating conversations with potential customers who have just entered the site.
Be upfront with customers when communicating via chatbots. Never attempt to trick them into thinking that a bot is a real person. Next, business owners must remember to clarify with their visitors that they are actually communicating with a live person.
State Your Unique Value Proposition (UVP)
Competitor A sells a product at $250. Competitor B sells the same product for $200. You, however, know that the product’s true value is $350. If you are going to sell the product at a higher price point, it is important to justify it. Craft a unique value proposition that explains factors that distinguish you from the competition and how the product solves the customer’s needs. After all, the amount a customer is willing to pay ties back to their perception of your brand.
When it comes to determining acceptable product prices, create different buyer personas and keep them up to date. These profiles should include information, such as individual customers’ income, buying concerns, and factors that motivate them to buy a product. This way, you will feel more secure in what you are charging for your products and services.
Offer Coupons on Your Site
Coupons, when used properly, can help B2B e-commerce business owners build interest and encourage potential customers to try out their products and services. There are several ways to use coupons, including:
- Surprising first-time customers with automatic discounts
- Showing appreciation for loyal customers by emailing exclusive coupon codes (thank them for their continued support)
- Offer coupons to clear stale inventory (e.g. a Buy One Get One Free promotion)
Now, don’t go too crazy on coupons because they can end up hurting your business!
Offer Free Shipping Benefits
Research has shown that customers are more willing to pay more to unlock free shipping benefits as opposed to paying additional fees. For example, they would rather see a fixed payable sum of $15 than to pay for two separate items on their invoices, e.g. a $10 product + a $4.99 shipping fee.
If you let potential customers know that they have to pay for extra convenience, they may think twice about whether they are getting a good deal or not. “Wouldn’t it be better if I just head down to the store to get XYZ product in person?” When the math doesn’t add up, these individuals may abandon their carts due to the unexpected costs.
Ensure Checkout and Add-to-Cart Buttons are Accessible
Do not overthink when it comes to placing add-to-cart and checkout buttons. In most countries, most customers tend to read from left to right. It is a good idea to make them accessible by placing them at the top and bottom of your product pages, especially on the right-hand side. This practice makes it significantly easier for customers to add items to their carts after reading through the products’ descriptions and shipping details.
Showcase Product Reviews and Testimonials
It’s important to build trust and confidence among all visitors. Combining written/video testimonials with review star ratings, B2B e-commerce business owners are recommended to showcase them on their homepages, landing pages, and individual product pages.
Run Email Marketing Campaigns
Business executives are constantly checking their emails and B2B e-commerce companies can target these individuals through email marketing campaigns. The goal is to acquire their target customers’ emails for future marketing initiatives. One can attract email signups by offering coupon codes, access to 24/7 customer service (make it sound exclusive), and even free shipping and returns benefits. Your email campaign writeups should focus on informing and educating the customers.
Feature Best-Selling Products in Rotating Banners
Select your best-selling and latest products and feature them in a rotating banner. Offering one’s champion products upfront to anyone who lands on the homepage can help them make faster and more decisive decisions. By keeping your customers constantly in the know, business owners can get their prospects fired up and wanting to know more.
Upload How-to-Use Product Videos
Written product descriptions go hand in hand with product videos and demonstrations. It is important to note that e-commerce sites are not the same as running a brick and mortar store where customers can walk in, talk to a sales representative, and physically interact with the product. Ideally, you should aim to create a digital experience that’s as close to the real thing as possible. By showing how practical and easy it is to use the products, it will be hard for your B2B customers to say no!