Shopify Conversion Optimization – The Business Owner’s Edition on Increasing Profits
I think you’ll agree me with one thing:
Its REALLY hard to convert your visitors into customers.
And according to Econsultancy:
“Only about 22% of businesses are satisfied with their conversion rates.”
But…Million Dollar Shopify stores that thrive execute one thing very well:
What makes the conversion problem particularly pressing?
In this article, I’ll teach you how to implement the strategies(not tactics), secrets and fundamentals on how to increase Shopify conversions.
Note: If you want the basics to improve your Shopify Conversion Rate, read The Beginner’s Guide to Conversion Rate Optimization first, before reading this!
Shopify Conversion Optimization is a process of increasing your revenue and profits by converting the visitors into customers without raising your marketing spend
Here is the best part:
If you double your conversion rate you double your revenue.
Profit = Revenue − Costs
When you double your conversion rate(and revenue), your costs won’t double because not all costs are directly proportional to revenue!
When you increase your conversion rates, you naturally become more profitable. And, you can re-invest that profits back into your business.
When you increase your marketing and sales budgets using your additional profits, you can get loads of new customers.
Tactics and Tools will only give you short time mileage. What it matters in the long-term is what you learn and how quickly you will execute your Conversion Rate Optimization(CRO) strategy.
So in this article, we will delve more into the First Principles of each area of Shopify Conversion Rate Optimization(CRO) strategy.
The benefit of “First Principles” thinking is that it allows you to innovate in clear leaps, rather than building small improvements onto something that already exists.
Elon Musk is perhaps the boldest entrepreneur on the planet right now. Let’s listen it straight from his mouth.
I think generally people’s thinking process is too bound by convention or analogy to prior experiences. They’ll say, “We’ll do that because it’s always been done that way.”
[With first principles] you boil things down to the most fundamental truths…and then reason up from there.
— Elon Musk
“Best practices” without context are just “practices”.
“There are no best practices”, you must test every design change before rolling it out.
Common sense or simple fixes can be applied without the overhead of an A/B test, thereby saving your precious time and resources for things that you’re unsure. For example, adding a “Wishlist” feature to your Shopify store.
Remember: What brought millions of revenue for Shop X will never work in your store because of the above reason!
When you start thinking strategically, you improve your marketing effectiveness and ultimately profits.
When you Do the Right Things…
Before diving into the different elements of Conversion Rate Optimization(CRO), let’s view this graph from the interesting study by eConsultancy:
In this study we can see that over half of companies plan to increase their conversion optimization budgets in 2017.
With 73% of those who have already increased their CRO budget seeing improved conversion rates, there appears to be a clear correlation between investment and result.
CRO is the most important marketing activity because it makes every visitor exponentially more valuable. – Rand Fishkin
In short, Conversion rate optimization is quite often the most direct path to increased sales.
So let’s move into the areas so that we can go in depth so that you can learn to multiply your current Shopify average conversion rate:
In the olden days, if an user had any difficulties navigating or making purchases in an ecommerce store, they would have blamed themselves. Seems astonishing right, but its true. Don Norman explains this concept of blame very well in The Design of Everyday Things. In the book, he describes that users will blame themselves although its the fault of designers/developers for creating a bad UI/UX.
Look how cluttered eBay was in 2003:
But those days are gone and lots have been written on how design has made millions of profits for eCommerce stores.
And from your school days, you’ve also heard these…
“Beauty is subjective”
“Beauty is in the eye of the beholder”
“Beauty is only skin deep”
So what exactly beauty has to do with your Shopify store design. So let’s move on to something more logical and analytical and design for humans, and not for your eyes only!
In this TED video, Anjan Chatterjee uses tools from evolutionary psychology and cognitive neuroscience to study one of nature’s most captivating concepts: beauty. Learn more about the science behind why certain configurations of line, color and form excite us in this fascinating, deep look inside your brain.
So my advice is…
At MotiveSense, when we work on any eCommerce project, our goal is to make it a sustainable and a revenue generating machine. But a whole lot of success depends on the products that you sell in the eCommerce world.
When talking about how to increase Shopify conversions, I don’t want to teach you what products to sell. But, deciding what products to sell and what to stop is an important part of Conversion Rate Optimization (CRO).
Benjamin Hardy says it in a more lucid manner:
The riches are in the niches. Your niche is your audience. They are a small group of people who agree with the stand you’re trying to make. They are your evangelists.
If you try to appeal to everyone, your message, marketing, and products will be terrible. You won’t be clear on your why, and neither will anyone else. Thus, you’ll be average like everyone else and your work won’t stand out.
The first requirement for a Shopify store is to help your customer to shop without any fuss.
So let’s watch what the UX guru, Dan Norman has to say about the User Experience(UX) in simple words.
So the whole Shopify UX comprises of:
Lastly and most importantly, we shouldn’t sacrifice user experience for the sake of looking good and contemporary.
Copywriting is one of the most ignored facets in the world of eCommerce.
In a research done by Microsoft, its found out that we are having an attention span of eight seconds (less than the average Goldfish).
Conversion oriented Copywriting + UX + Design can go a long way in grabbing your user’s attention and make the sale!
You might have wondered about the difference between Conversion Copywriting and Copywriting. Its not rocket science!
In conversion optimization, every word counts!
So make sure that whatever you write is in sync with your conversion optimization goals. This applies to your Shopify store, emails or even your customer support tool.
Shopify is having an awesome SEO architecture which takes cares of the Technical SEO and on-page SEO aspects. This relieves of your pain of making your eCommerce system SEO compliant.
Shopify blog is also having an interesting SEO section which provides snackable SEO tips!
But here are some SEO tips to rank better in serach engines:
Other Shopify SEO articles:
As Farnham Street’s Shane Parrish puts it:
“Good decisions don’t ensure success but bad ones almost always ensure failure.”
When faced with the responsibility of increasing the revenue or profits for any Shopify store, make sure that you’re doing the right things.
Shiny Object Syndrome is bad for your business’s health!
Do your research, seek a Shopify expert’s help, and, above all, trust yourself.
And, promise me that you’ll leave eCommerce Conversion Rate Benchmarks and your competitors in the dust!
You can do it!
To be concluded…