In 2020, the D2C market was valued at $33.1 billion. By 2025, the market is forecasted to grow almost threefold and reach $100 billion. Despite this success, an average D2C platform typically has a conversion rate of less than 5%. One of the main advantages of building a D2C eCommerce brand is how simple it is to launch a store. Anybody can do it. But building a successful D2C eCommerce business is no walk in the park. The competition is tough, and even after you’ve managed to get your buyers’ attention, you might still struggle with increasing your GMV. So, if you want to compete, you need to stand out.
A conversion rate is the percentage of visitors coming to a website and then turning into customers. Your visitor has found your eCommerce site, browsed and selected a product and placed it in their cart. But until they enter their payment details and click the ‘buy’ button, no sale is final. To assure they carry through with the purchase, you need to take the following steps.
1. Be Responsive
Customers generally prefer shopping from platforms that facilitate interactions with their service team and get their queries answered swiftly and promptly. Introducing live chat support or call centres that are proactive in answering questions or troubleshooting other issues can enhance your brand image and trust.
According to an Invesp survey, buyers who chat tend to spend 60% more per purchase, and they’re 2.8 times more likely to purchase a product. In fact, 38% of customers reported making a purchase right after having a good session with a live chat agent.
2. Compelling, Clear Value Proposition
Studies show that insufficient product details disappoint online shoppers. Therefore, the homepage is an essential touchpoint for any e-commerce website. It should contain interesting and informative content about the product that will make your customers excited enough to make the purchase. Adding product videos or demonstrations will have more impact and increase conversion rates. You would also need to go for SEO of your website as high traffic will also boost your conversion rate.
3. Give (Discounts) Before You Take
Customers become more receptive when you give them something more. Most e-commerce websites have a strategy to give something of value, such as discounts to prospective buyers before getting them to buy from them.
The reciprocity principle helps boost conversions. 29% of online shoppers will complete a purchase they didn’t originally intend to if it has a heavy discount.
4. Re-Engage Card Abandoners
E-Commerce brands lose a staggering $18 Billion in sales revenue each year because of cart abandonment. Studies have shown that the average cart abandonment rate is just under 70%. That means roughly seven out of every ten shoppers won’t complete their transaction.
Every person browsing at your site may not be a guaranteed buyer. Factors such as better price somewhere else, high shipping charges and a complicated checkout process may give your buyer cold feet before he makes the plunge.
But it is possible to get your abandoners back to the store. Sending abandoned cart emails within 2 hours of cart abandonment will get a 40% open rate and 20% click-through rate. Studies show that at least 10.7% of customers who receive the email return to make a purchase. Using retargeted ads is also an effective way to bring your shoppers back to your store. Three out of four consumers will notice retargeted ads—a good percentage considering that many people block out irrelevant ads. Of those consumers, 26% will click on the retargeted ad and return to your site.
5. Junk the Jargons
The most obvious reason for having a FAQ page is to provide your customers with answers to their top questions. However, that’s only a part. When your customers come to that page, they can scroll through to learn more about various topics and features. That information can push them to convert.
Sieve through feedback emails and queries you’ve received from customers or look at conversations on your social media page. FAQ pages are precious real estate for SEO purposes. By default, those questions are full of relevant keywords and phrases that your target audience is probably searching for.
6. The Need For Speed
Customers love instant gratification and they hate to wait. Once they know your site is sluggish, most will avoid it like the plague. Successful eCommerce brands understand this simple principle. They don’t keep their customers waiting. Instead, they offer fast loading platforms and real-time order tracking to enhance a customer’s shopping experience
7. Offer Proof
A good website aims to enhance credibility for customers by incorporating trust signals, such as testimonials and reviews, seller info and product ratings. Every buyer needs to know whether shopping from your store was the right choice. .
Adding testimonials and customer reviews will help you clinch the deal. According to a report by Spiegel Research Center, nearly 95% of shoppers read online reviews before making a purchase. Additionally, products with more than five reviews or substantial ratings have a significantly higher conversion rate than those with no reviews.
8.Simplify Checkout Process
Getting someone to your checkout isn’t easy. For example, 55% of shoppers generally get cold feet at the payment page if they have to re-enter their credit card or shipping information. When faced with a complicated checkout process, customers will often abandon their purchase, which can affect your customer’s decision to buy from your store in the future.
The simplest way to avoid that problem is to deploy a tool like Blaze that automatically fills in the shipping information fields with the shopper’s billing information.
Experts estimate that conversions can be increased by 35.62 % by implementing the right checkout optimisation strategies. Read how Native Tongue increased conversions and reduced checkout time.
9. Have An Excellent Return Policy
Nothing builds trust and brand loyalty than a good return policy. Customers need to know you’ll be just as glad to help them return an item as you were to charge their card. But unless done right, your business’ approach to returns can erode conversion rates and deplete margins post-sale and potentially threaten the very viability of your business. A good data enrichment tool for digital footprint analysis such as Blaze can spot the riskiest buyers before they damage your business with excessive returns. Blaze helps merchants automate the process of sifting through COD orders and preempts RTO losses without compromising GMV. For more information, read in details.
10. Payment Options
Whenever people spend money, they require trust assurance and trust elements. The case of e-commerce transactions is no different. Good eCommerce websites should provide if not all, most of the preferred and prominent payment methods for their customers. An eCommerce site that doesn’t have a wide range of payment methods fails to maximise the customers’ degree of affinity and trust. It’s also a good idea to include a word or two about privacy that clarifies that you’re only collecting their information for internal purposes and not planning to share or sell their data to third parties.