With eCommerce on the rise, when better a time to enhance your website to ensure global consumers make that all important purchase when browsing?
With the latest data projecting that $2.3 Trillion will be spent to purchase goods online by 2018, it is imperative that merchants seamlessly align their online shopping experience to the expectations of their customers – ensuring browsers are converted to buyers. Follow the below steps to ensure your online business is not missing out on this revenue opportunity:
1. Design an enticing landing page
Your website’s home page should be treated no differently to your store window. Just as you would in the physical environment, display your most eye-catching and sought after products on your landing page. Visual merchandising is of the utmost importance, particularly in the online environment, and can drastically increase the probability of a sale. Provide browsers with captivating and high quality product displays and allow an emotional connection to form between the browser and the item.
Similarly, the psychology of colour can improve purchasing activities. Loyalty Square revealed that 92.6% of people attribute the visual dimension as an influencing factor affecting their buying decision. In a survey on colour and gender, it was found that blue stands our far more to men than to women. Related to different colours, the study also found that the most significant gender difference is yellow being preferred to orange by women and orange to yellow by men.
With colour also contributing to 85% of a consumer’s decision to buy, it is important to consider your product, examine your website and incorporate these findings into your design to enhance purchase potential.
2. Enable Multi-Currency Pricing
If you are finding it difficult to convert browsers into buyers, Multi-Currency Pricing (MCP) may be just the solution. Research has found that almost 50% of online consumers are likely to abandon a purchase upon discovery of pricing in a foreign currency. A foreign currency can be a real deterrent and make buyers worried or confused. Clarity is key. MCP provides your consumers with choice and comfort which can increase customer loyalty and convince browsers to make their first of many payments on your website.
MCP is a popular eCommerce application which allows businesses to price goods and services in a number of foreign currencies, enabling the browser to select their preferred currency as soon as they land on your website, and subsequently eliminate any billing concerns. There is no need for your browser to leave your website to check exchange rates.
MCP helps to localise and personalise your website for international customers, allowing them to enjoy a competitive exchange rate and experience instant conversion to a familiar currency.
3. Offer deals and discounts
Another strategy of converting browsers to buyers is value proposition. Research has found that 71% of consumers shop online because they want to get the best value.
Conduct a comparative study of similar online websites and determine how you can differentiate from your competitors. If unable to compete on price, provide a superior shopping experience through alternative, appealing approaches such as providing free shipping, guaranteeing a warranty or offering coupons or bundles. These simple and effective strategies will instil confidence in your website and encourage brand loyalty.
Likewise, research by E-tailing Group found that 62% of online shoppers firstly view the sale or reductions section of a website before browsing the main page, while 47% only purchase discounted products. Allow browsers to easily access your website bargains by creating a distinct discount or sales section of the site.
4. Create a sense of urgency
Offering discounts and deals is a smart way of enticing users to browse your website; however, reminding them that these offers come with a deadline can really convince your browsers to buy. Statistica found that 37% of online shoppers are ‘just browsing’, however with the right tools, you may be able to convert your browsers into buyers. An hourglass or countdown clocks are simple ways of displaying visible time constraints which remind the browser to purchase now, or risk missing out on a fantastic deal.
Similarly, highlighting low stock levels can accelerate a browser into making a decision to buy. The fear of missing out is a powerful psychological tool so by prompting the browser that only 1 item remains, they are reminded that the product they’re interested in is popular and possibly therefore, of good quality, and that it may go out of stock at any moment.
Setting deadlines and highlighting low stock levels are just simple ways of igniting interest in an item and are hugely influential in converting passive browsers into active buyers.
5. Permit guest checkouts
A final website strategy for optimising sales is to allow consumers to purchase as a guest. This both shortens the checkout process and removes any obstacle between a new customer and a sale. Once a browser has decided to buy, bring them directly to the checkout to close the sale. It is recommended that pages are kept to a minimum and only required details requested.
Furthermore, customers should not be constrained by the number of times they can use guest checkout. This positive purchasing experience will encourage buyers to return to your website and eventually they will trust your website enough to register and save their details.
With eCommerce expected to hit $1.5 trillion in worldwide sales this year, it is paramount that eTailers stay ahead of their competitors and implement a user-friendly, enjoyable online shopping experience. Strongly consider implementing these 5 strategies and with some persistence, you will be on your way to converting your browsers into repeat buyers.
Fexco specialises in providing Multi-Currency Pricing (MCP) services to merchants globally. If your website attracts international browsers, MCP can assist you in boosting international sales while providing superior customer service.
We recognise that the world of currency conversion services, including MCP, can be daunting. We therefore remove any mystery surrounding currency conversion by enabling international cardholders to view and pay for products in their home currency.
To receive information on how you can boost sales from cross-border shopping, contact us today and simply enquire about our Multi-Currency Pricing (MCP) product.