A higher conversion rate may not as adversely affect a service provider as it may destroy a product supplier. Professionals, who have to render a selected number of services, have different sources to get clients and projects, and often meet the operating costs of their offices from the retainer ship fees; on the other hand, the online stores with major investment in inventory are eagerly looking for higher conversions to stock up as soon as possible. For them, a decline in sales means missing out the handsome amount of revenue.
Conversion optimization requires a well-structured approach that is implemented strategically to achieve higher website performance. The web designers and developer have to take into consideration the industry trends and common consumer behavior. Doing anything beyond this will do harm rather than good to the conversion rate.
For example, rely on a minimalist design of the checkout page, where users don’t have to request product personalization or submit instructions for an order. Most of the online stores take help from tools and extensions like the WooCommerce checkout fields to simplify order processing with relevant and to the point options. Adding anything unnecessary may give them a reason to leave your store with an unfinished order.
Conversion optimization is not a one-off job, it requires a developer, designer or project manager to keep a close eye over the user behavior and how they would like a web page or options to be. The following could be the reason behind the decline in your sales despite optimizing web shop for higher conversions.
Serving Irrelevant traffic – It’s Useless
An increase in traffic could be devastating for calculating conversion rate if this is not relevant. A majority of internet users searches for terms for the sake of information only and may not be interested in your products. A website that is well optimized for the target users may also attract the readers’ community if the web pages match their search queries. Make sure the search engine optimization efforts are governed by experts and the product pages are not over-optimized. You can learn about such a scenario by reviewing the keywords from which you are ranked higher that are not suitable for your business.
The Increased Pricing
The online shopping is an affordable alternative to a great number of buyers. They would like to purchase things that are offered with a discount or deal else they can get the same from their nearest shops. If you have recently increased the pricing of your products or services, it could be a reason that you are not getting sales.
There are various strategies in setting a product price. You can either decide a price after adding a profit margin to the cost, or offer a competitive price and compromise a standard profit percentage. It depends on your company policies, but it should be in the range of the community you need to reach. One of the most effective solutions is allowing users to bid for the product and know the price they would happily pay. It will remove the obstacle in getting sales and achieving a target.
Strong Market Penetration
It is always easier to continue business successful until you have a strong opponent. A fall in sales could be because of the competitors that have entered your market and reaching the target with more amazing offers. A common practice of securing a market share is low-balling, that is, offering extremely subsidized prices to have regular customers and then raise the prices to a standard figure.
A decline in sales is not necessarily due to a new entry in the competition, but it could be a design revamp of your existing competitor that is restricting users to navigate through your store. Nowadays, most of the business managers are continuously improving the micro user experience to achieve a competitive edge. The changes they made to their landing pages could seem negligible at times, but if they do it right, you lose the game.
Consider The Seasonal Effects
Before taking drastic cutbacks to your marketing campaigns, you need to know the peak season of your concerned business. For example, a business that deals in products that are suitable for summer starts making huge sales in March/April, when the sales of the heating system go down.
In the same manner, most of the business performs well on the black Friday and continues serving customers through the Christmas and New Year, but have to bear operational costs in the preceding months. Contrary to this, a number of service providers stay idle in holiday seasons. They are unable to get a client when everyone wants to enjoy the holidays and stay away from mobiles and the internet.
Selection Of a Relevant Social Network
Every social network is attracting users to interact with new and familiar people, and have some quality time. But, the online buyers are selective in using a platform for a specific purpose. Facebook is surely an effective medium to reach the desired audience, but if you are not getting results, add another network to your campaigns.
Most of the Companies exhibit their services on LinkedIn and other similar websites, where they can easily showcase their services, skills, and expertise. In the same manner, Pinterest and Instagram is a hub of creative professionals, who like to share their art and craft to the world at large. So, every social media platform has its own value, purpose, and fan following that has to be selected according to the nature of your business.
The ultimate goal of conversion optimization is to increase the sales and revenues. It is quite disappointing to have no sales despite spending consecutive hours on improving website speed and user friendliness. It is just there is not a standard set of rules. You may overcome a feature, and in the meantime, you will require another one to adjust the design. In the above reason, we have discussed the possibilities that are not helping users to convert into your loyal customers.