How To Improve Your Conversion Rates
Calculating Your Conversion Rates
This is something that you want to do every month, not every day because it will fluctuate on a day-to-day basis.
- You can have 100 views one day and 30 people buy from you
- The next day you can have 100 views and no one buys from you
To figure out what your conversion rate is you will need to take the amount of orders divided by the amount of visits. Once you have that number, you would move the decimal point over twice to the right or times it by 100.
- Number of orders: 9
- Number of visits: 245
- Divide the number of orders by the number of visits which would be 0.03673
- Move the decimal point over to the right twice
- Which would make it: 3.67
Before calculating your conversion rates, make sure you have a good calculator that can convert to decimal points.
If you see some of your listings that have 0 views and 0 purchases, that's fine. However when you start to notice listings that have at least 100 views, and 0 purchases within the past 30 days, then you have to figure out what isn't working for this listing.
Whatever your conversion rate is, you want to get it higher. You don't want to focus on the listings that are converting at a decent percentage, focus on the ones that need help. Think about the product and what could be causing the buyer not to purchase from you.
- The photo wasn't great
- They didn't like the price
- You didn't offer it in the color that they wanted
Need help improving the things that effect your conversion rates? Click here for 5 additional tips to bring in more sales!
Figuring Out Which Listings Aren't Converting Well
In order to figure out which listings are bringing your shop down, you need to identify which ones those are and how to help them convert better.
Here are the steps to figuring out what your stats have been for the past 30 days on Etsy
- Log into your Etsy shop, and click on shop manager
- Click on stats on the left hand side
- Click on listings near the top left corner
- Make sure that you are looking at the stats from all channels and for the past 30 days
- At the top of the page you will see your most visited listings and below, your least visited listings
You want to calculate the conversion rates for the top 5 or so products. And figure out from there, which of those products aren't converting the way you want it to.
For example when you calculate your listings:
- Listing 1 has a conversion rate of 3.2
- Listing 2 has a conversion rate of 3.8
- Listing 3 has a conversion rate of 9.7
- Listing 4 has a conversion rate of 2.6
- Listing 5 has a conversion rate of 6.2
You can do more than just your top 5, if it seems like those listings are pretty consistent in converting. Once you have identified the listings that are lower than the others, its time to review them and figure out why. In this case it would be listings 1,2 and 4. Make sure that you write down the date you checked the stats of these listings. That way within 30-60 days, you can check it again and see if the changes you have made are working. Also, write down the changes that you have made to the listings. Such as : changing the photos, updating the SEO, decrease in price, etc..
Some people may be so desperate to get to the top of search that they will use keywords that don't necessarily go with what you product is. Think of your self as the customer, ask your self if you would buy this product even though it wasn't what you were looking for. Don't just say yes because its your product, be hard on yourself. If you have to change the keywords in order to get more sales, make sure that you are changing them to something that is relevant to your listing.
Things That Can Effect Your Conversion Rates
Besides relevancy, SEO, and being found on top of search, there are other things that will effect your conversion rates.
Make sure that you are making it simple for the customer to complete their purchase. If you offer any type of variations such as color choice, material choice, or size. Make sure have those listed in alphabetical order or smallest size to largest. Don't make the customer work harder then they have to in order to buy from you. It is also important that you show a photo of the variations that you offer, that way the buyer will know what it will look like. When you are doing some sort of color chart, or variation chart, make sure that it is consistent and looks professional.
Another thing that can cause your conversion rates to drop is your pricing. You have to price your items within your market on average. Make sure that when you are pricing your items within the average range, that way you are still making a profit from it. You can price higher than you competitors if you feel like you offer something that others do not. If you do decide to price higher, make sure it is evident that you are worth the price. And by that I mean, making sure your photos are perfect, your title and descriptions are well explained. Make it easy for them to complete their purchase. It is also good to have plenty of reviews that will ensure the buyer that you are trustworthy.
Click here to see 5 things you must know about product reviews and how to respond to bad reviews.
Need more help with your descriptions? Click here to view my course where I show you how to rock your descriptions!
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