What does Sales Conversion Imply in International Ecommerce?
Sales conversion in international Ecommerce refers to the percentage of potential customers ready to undertake a specific action as desired by the online business owners or the cross-border sellers. To be specific, it pertains to driving visitors to view and click on products with an attempt to sell them. In order to track conversion rates, online businesses should take note of:
- Percentage of store visitors on different international online marketplaces
- Percentage of these visitors filling up a form or purchasing products from the stores
- Percentage of overall sales made
Current Plight of Sales Conversion in International Ecommerce
Regardless of the key importance of sales conversion in international Ecommerce, it remains the most neglected part of digitalized marketing for online businesses. Despite the overwhelming advancements in technology, the average rate of sales conversion in cross-border Ecommerce stands stuck at around 1.5% mark (according to Forbes); this can be attributed to a lack of understanding of the psychology of the potential customers. Cross-border Ecommerce sellers mostly tend to be busy searching for newer marketplaces, updating new product categories and processing orders; optimisation for better conversion rates as such often goes unattended. Irrespective of how good the position of current conversion rates might be, it can always be made better. Increase in conversion rates helps in improvising overall sales and net profits.
Ways to Increase Conversion Rates
It is important to remember that boosting up international Ecommerce sales does not have to necessarily indulge huge amounts of investments; small improvements in increasing conversion rates can make big differences as well and fetch better overall results. Some of the ways of increasing conversion rates are listed as following:
Language is known to affect online consumer behaviour and buying habits to a great extent. A report by Harvard Business Review shows that 72.1% of all online consumers spend time on websites in their native language and nearly 72.4% of them are likely to purchase products with information in their own language. Therefore, by offering products on top international online marketplaces that are available only in one language, the chances of building a huge clientele gets automatically ruled out. Providing adequate translation services for the portion of the traffic from other countries as such becomes essential. Human translation is more preferable than automated translation as the services are more accurate and impeccable allowing better SEO rankings.
The product title of a particular product is typically the first thing that the targeted audience notices and reads on visiting a store’s webpage on an international online marketplace. It is the catch-phrase that either compels the visitors to read more and go for a purchase or exit the site then and there. Adhering to the pre-defined title formats by the marketplaces and putting up engaging and meaningful product titles is vital.
Product descriptions & images:
Before selling a product on an online international marketplace, it is important for the seller to know the reason behind why would someone willingly buy the product. The images (with a minimum resolution of 1500×1500) and product descriptions used for the products as such should be clear and convincing enough to give out the answer to this.
Adjusting prices of products in accordance to the preferred currency of the potential customers can actually work wonders in terms of conversion rates. This is so because potential customers can easily access prices of products in their own currency without having to go elsewhere to check the exchange rates. This checks the bounce rate of customers as well.
Informing potential customers about the status of a product availability helps them make a quick decision regarding buying a product. A low stock level assures a customer that a product is popular and if not purchased immediately, they might miss out on it.
Providing requisite contact information like a telephone number or live chat option boosts confidence level in potential customers that the seller is genuine and will be there in case of any discrepancies. This tends to increase the conversions manifold.
Stating a product delivery timeline gives potential customers a sense of reliability thereby increasing the conversion rates. Likewise, adhering to this committed delivery timeline increases conversions even more and helps retaining customers for future purchases.
Credibility/ Social proof:
Bearing trust seals from renowned and reliable online business bureaus or web security companies help in driving more conversions. In a similar manner, adding customer feedbacks and ratings helps in increasing the weightage of a product thereby leading to higher conversion rates.
Better Marketing Strategies:
While experimenting with higher conversion rates, applying better marketing strategies becomes imperative. Effective marketing helps in acquiring newer and better leads that can be targeted for successful conversions later on.
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