E-commerce is a growing multibillion-dollar industry. It is estimated that there are 12-24 million e-commerce sites in 2021 across the entire globe! Many more are joining the industry, meaning it is a very competitive space. As an e-commerce entrepreneur, you have to find ways to stay above the competition, if you are to boost your conversion rate to generate more revenue. So, how can your e-commerce site stand out? Well, here are some branding hacks to boost your e-commerce conversions rate:
1. Analyze your key customer characteristics (gender, age, interest) and optimize store experience accordingly
You cannot serve your customers perfectly if you do not know them. Well, not everyone who purchases your products or service will fit into the same demographic box. However, it is necessary to have a customer base in mind. It helps you to streamline your products to meet the needs of your target audience better.
Demographic profiles like age, gender, professions, and income level are excellent clues for understanding your consumer purchasing behavior. Customers of different ages have different needs, and their purchasing power changes over time.
For instance, teenagers tend to buy more and have great potential to influence their friends and family to use a product. While everyone is different in their own right, most people within a given demographic will display a similar purchasing behavior.
Analyzing your demographic profile is, therefore, an integral aspect of effective marketing. So, how will you know your target market?
First, you need to analyze your products or services. Understand what challenges your products solve. That is the first step in identifying the people most likely to be appealed to by them. If you are selling houses, you do not expect most of your market to be broke college students. Your target market will be high-income adults.
Another crucial step is understanding the marketplace. Use analytics to get a fuller view of the market landscape and to find ways to improve. You could analyze data from your POS or CRM to get more insight into customer behavior.
Conduct surveys and in-person discussions with your customers to know what they need, why they are (or aren’t) purchasing from you, and ways you can improve your offerings. Analyzing your customer profiles requires more than just making guesses. You need to actively figure out what they need and what motivates them to keep shopping.
2. Identify the best performing price ranges, and adjust your marketing communications accordingly
Price is one of the essential aspects of marketing. Customers may discredit low processes deeming the product substandard. They could also pass off a higher price point finding it too expensive. Your pricing strategy should not be based solely on the time and effort it takes to make your products or service.
Customers care little about the hours you put in creating the product or service. They are mainly concerned with the potential of the product to solve their problems. You, therefore, need to ensure that your pricing strategy communicates the benefits of the product to the buyers’ lives.
Determine the best-performing price range for the product by analyzing your competition and their pricing strategy. That will allow you to price your products and services well enough to have a competitive edge. Effective communication of the price is also as important as setting the price. If you promote your product or service as high-value, the price should be consistent with the positioning.
3. Focus on building credibility in the mind of your customers
No customer would dare spend their money on a site they do not trust. Building customer trust can be challenging, especially for small e-commerce sites that do not have a big name. That makes it even more essential for them to build their brand credibility.
When you have an e-commerce site, it is a constant effort to make sure that customers trust your site. The first step in building your credibility is to have an impressive first impression. Your website should be aesthetically pleasing, and your product images should be of high quality.
Most customers will purchase a product because of the engaging and detailed pictures. The thing with e-commerce is that customers do not have the chance to experience the goods in their hands. Good-looking images that are crisp, well-lit, and clear are a close substitute for that.
A fast website has more credibility and is likely to drive more conversions. Use social proof to build your brand credibility. Have online reviews and testimonials, showcase the number of happy customers, and create content that establishes you as an authority in your industry.
You could also hire a brand auditor to help you understand what customers say about your business and the level of trust they have in your business. Having superior customer service is also a great way to build trust with customers. They know that you will hear them when they have a problem. Building credibility is a surefire way to boost conversion rates for any business.
4. Master your product presentation and descriptions
Product presentation has a significant bearing on the number of products you sell. It is not enough to have top-of-the-range goods and services. How you display them is an essential factor in determining whether the traffic to your site will convert to buyers.
Use quality images that tell a story, and provide the target customers with a visual sense of the products. Cheaping out on the image quality could break a potential sale. The customer shouldn’t have to guess the dimensions of the products.
Ensure that you show the scale of your products. Take close-ups to give customers the chance to assess the quality and finish of the products. You could also use videos to show more angles of the products or even the product in use.
Your product descriptions need to show the product benefit. How will the product impact the buyers’ life? Try to use natural language and tone in your product descriptions. If your descriptions sound robotic, you need to inject some life into them.
Ensure that the product descriptions are easy to scan because people tend to have short attention spans and couldn’t be bothered to read huge chunks of essays. Use bullet points and short paragraphs.
Also, ensure that you optimize your descriptions for search engines. You can do some keyword research to know which terms buyers are more likely to use when shopping online. Search Engine Optimization (SEO) is an excellent way to bring organic traffic to your site that eventually converts to buyers.
5. Create a unique, relatable brand personality for your e-commerce business
Brand personality has everything to do with the public perception of the brand. It is what drives the reputation and demeanor of the business. The brand personality should influence how the brand acts, what it says, and its stands and behaviors.
Having a unique identity is a critical element in branding. It helps your audience know what behavior they can expect from you. Create a set of unique values that you want your e-commerce site to be known by, and ensure that everything you do is in line with those values. Consistency and commitment to those unique values and practices will help to build a memorable brand personality.
Conversion rate is the most significant factor for revenue generation in e-commerce businesses. Tailored branding is one the key strategies that will help grow your conversion rates and generate more revenue for your e-commerce business!