So you’ve gone the extra mile to help your potential customers reach your store, and they’re here. Terrific! But why do so many of them leave without making a purchase? And that’s after all the effort and resources that you’ve put in.
With our extensive expertise in eCommerce and years of hands-on Magento development services, we’ve identified the key factors that may be hindering your conversion rates. It’s time to address these issues head-on and revitalize your store’s performance.
On this page, we’ve gathered the main reasons why your conversion rates aren’t as good as you want them to be as well. Plus, we give recommendations on how to make things right.
Why are the Conversion Rates of your Magento Store Poor?
There are many ways to explain why your Magento conversion rates aren’t skyrocketing, but we’ve brought it down to the five most common ones that we’ve encountered multiple times when working with this stores.
1. Unoptimized Store Speed
If page load time is slow, your store’s performance isn’t great. Yes, you can have the prettiest design in the world but don’t ever forget that people hate to wait. They will leave your store in about 8 out of 10 cases if they get impatient with page loading.
According to HostingTribunal, “a 1-second delay eats away 7% of the coveted conversion rate.” Therefore, getting the best of your store’s speed should be among your priorities at all times.
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Giving a couple of pointers on what to pay attention to in order to make your Magento store faster:
- review your images(whether they are optimized not only in terms of image weight);
- make use of nitty-gritty features like Lazy Image Loading;
- get rid of unneeded data and logs;
- narrow down the use of your plugins to the ones you actually need;
- get your hands on caching tools like Varnish.
For optimal store speed acceleration and consequent Magento conversion rate optimization, of course, it’s better to turn to Magento development pros who’ll help fuel up the website to reach its best speed results.
2. Your Store Isn’t User-Friendly
Navigation should be intuitive. End of story. Your clients have to have every opportunity of shopping with ease. They shouldn’t be wasting their time on attempts to find something on the store or wrestling with the question of how to do something (for example, how to zoom in on a product image, close a pop-up, or try to click on an “unreachable” option from the droplist).
As stated earlier, time counts. And this goes beyond how quickly pages load. It’s all about the full picture in general, you don’t want customers to get frustrated and hit the exit site “X”. If things are “easy-breezy”, people are more likely to buy.
Is your store really mobile friendly? Check out the current statistics on eCommerce purchases made using mobile devices that were gathered by OuterBox.
The recent increase is already an evident change in user behavior. Hence, if it isn’t as simple to buy something on your store using your smartphone or tablet as it is from your desktop, you’re in trouble.
Regardless of mobile or desktop, user experience is key. Try to analyze how users navigate your store and think of ways to make things better.
Consulting professional UX/UI designers on the matter can be a good recommendation in this scenario. They’ll not only help to move things around but to actually enhance your page layouts for perception convenience.
As a result, this can for sure boost your Magento conversion rate.
3. Inefficient Checkout Process
Another thing that greatly explains why the conversion rate of your Magento store is far from perfect is that the store’s cart and checkout aren’t optimized.
As a rule, the major reasons for cart abandonment can be narrowed down to:
- Non-transparent pricing and large additional costs that come to light only when attempting to purchase the product.
The lack of opportunity to make the purchase without registering on the website.
- The checkout procedure is just too lengthy and complex.
That said, mentioning some ways you can solve the cart abandonment problem are:
Be clear about the extra costs:
This regards all the add-ons for shipping, delivery, taxes, just to name a few). Consider lining out what the price is made up of right on the first step of the checkout so that the visible calculation omits unnecessary questions and lives up to client expectations.
Add the functionality of the Guest Checkout to your Magento store:
Moreover, you can add the feature of Social Login, allowing users to access your store via social media channels like Facebook or Google.
As such, many shoppers don’t want to register and leave their contact details because they simply don’t wish to receive email send-outs or just because they don’t trust you yet.
Without obligatory registration, more clients will finalize their purchase journey since they’ll be asked for their email address maximum.
Rework the steps of your checkout:
Recently, numerous store owners have shifted to a one-step checkout layout as, right from the start, it gives the customer the impression that they won’t be wasting their time going through multiple time-consuming steps to complete the purchase.
4. Your Store Seems Untrustworthy
Especially relevant in the case with first-time visitors to your store, you must make sure that the store is a secure environment.
When you come to think of it, for most people, leaving their personal or credit card details on an unknown store is a tricky question. Usually, there’s a lot of hesitation on the line.
Mentioning other ways to improve the conversion rate in your Magento store, you should make use of the security badges. At the least, this way you’ll have a visual confirmation that your store is secure, for example, this can be put on a checkout page.
Plus, a good way to make your customer feel more comfortable when using your website is by providing multiple ways to get in touch with you. An example of this could be adding a chat plugin to your store. For instance, Magento LiveChat is available free of charge.
Go even further by running your store’s security scans so that you’re sure that there are no vulnerabilities or hazards threatening neither your store nor the data on your clients that you must safeguard.
5. Inconvenient Payment Options
You’d be surprised to find out how many clients you might have already lost because of the seemingly ridiculous lack of payment method options. The world of eCommerce, in general, has been built on the grounds of “the convenience of shopping”.
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It’s its underlying premise. Paving the ground for your potential shoppers and assisting them in quickly finding exactly what they need is vital, but so is giving them the chance to pay the way they want to.
A scarce or unsuitable choice of payment options is yet one more core reason why your Magento store doesn’t convert the way it should.
Furthermore, when your potential customer has spent more than enough time on selecting and putting items in their cart and doesn’t find a method to pay in, this kills their shopping experience. And you know what? They most likely won’t ever return to your store again.
To avoid such an unpleasant situation, acquire the best available payment methods combo with a lot of variety that’ll suit not only your needs but those of your clients as well. If out-of-the-box Magento functionality doesn’t cater to your necessities, there are plugins and extensions on the official Magento Marketplace.
Available for free or on a paid basis, these can solve the problem and are a good starting point.
Summing up, reaching the best possible conversion rates is among the main aims of every business. Apart from what was mentioned above, there are other things you can try doing in order to brighten up the conversion picture: make shopping more personalized by granting product offerings or get your hands on retargeting and remarketing.
Just as with most spheres, eCommerce has its own best practices for growing conversions, and at times even a couple of simple tweaks can really change the game!
