Conversion is a key indicator

Maximize job database potential with expert discussions and advice.
Post Reply
rakib432
Posts: 5
Joined: Sat Dec 21, 2024 3:16 am

Conversion is a key indicator

Post by rakib432 »

So, let's move on. And then we have the most important indicator of the effectiveness of an online store - conversions. Please note that I am not talking about the effectiveness of the business as such, but specifically about the effectiveness of the online store as a sales channel. Conversion is very easy to calculate. It is the ratio of the number of completed orders to the number of visitors to your online store.

This indicator is even more important the sooner we begin to understand the simple fact that we will not have free visitors. Even if you bring specific people to your site by the hand, you pay for them with your time. If you are developing a group on a social network, from where potential visitors come, you spend time, and therefore money, on this development. And sooner or later you will use paid promotion channels. Any visitor to the site costs you money. And the lower the store conversion, the more expensive each completed order is for you.

In the administrative section of 1C-Bitrix website active telegram number data management, we provide a simple and useful tool "Business model of an online store", which will allow you to predict sales efficiency by a number of parameters. The cost of attracting visitors, conversion to sales and the size of the average check. You will be able to very quickly calculate the upper limit of the cost of advertising, which will allow you to stay in the black. And vice versa, you will be able to understand how much you need to optimize the conversion to stay afloat with the existing cost of promotion on the Internet.

Such analysis should be done constantly, so that one day you don’t end up with nothing. Therefore, don’t forget to go to a tool like “Conversion Pulse”. To see how your conversion is growing or falling over time. See what the conversion is from different types of devices and different traffic acquisition channels.

Image

Having received the conversion value, you will certainly want to improve this indicator. And for this, the 1C-Bitrix website management platform offers a number of built-in marketing and technical tools.

First of all, these are tools for e-mail newsletters. Mailings can be used both to warm up a client and lead them to make their first purchase in an online store, and to influence repeat sales. Don't forget to process abandoned carts and canceled orders. Some of these clients who changed their minds can be tried to return using trigger mailings, which will automatically send letters in the event of events. In particular, if an abandoned cart is detected or an order is canceled. Using a convenient editor with templates, you can quickly prepare a message for each such event, and the letters will be sent automatically. As a result, you will receive analytics on the results of the mailing with the number of views and clicks made on the messages.

In addition to trigger mailings, you can also use traditional discount tools. In 1C-Bitrix website management there is a whole discount designer, with which you can flexibly set up special offers, virtually to suit any fantasy. The configured discounts will be automatically shown to visitors of your online store, prompting them to make purchases. At the first stage, until you master the discount designer in its entirety, you will be able to use templates for typical scenarios, and later formulate specific conditions aimed specifically at your target audience.

Personalization tools can also influence sales growth. 1C-Bitrix, website management offers its own built-in service of individual recommendations based on Big Data technologies. You will only need a couple of clicks to set up the display of goods in the right places of the online store, which will select the recommendation service for each specific visitor to the online store, and everything will work on its own.

The fight for the effectiveness of an online store is an ongoing war. Competitors change, the market changes, you will always need to make a decision about certain changes. But the problem in such cases is that you cannot predict the result of certain changes in advance. There is always a high probability of making a mistake. We all remember the joke about how blondes estimate the probability of meeting a live dinosaur on the street. Unfortunately, with marketing hypotheses, the same thing often happens. However, the Internet has an excellent means of avoiding unnecessary mistakes. This is A/B testing. If you have a hypothesis, for example, you want to change the appearance of the store counting on the fact that your target audience will like it more, then the most correct decision is to test it. You can simultaneously use both designs, the old and the new, as part of an A/B test. The entire audience of your site will be randomly divided in half. And we will show one half the old design, and the other the new one. And for each part of the audience, we will separately measure the indicator we need, for example, the same conversion. If it turns out that the conversion of the second half is higher, then we can safely apply the design to all visitors. And if it turns out that the new design had a negative impact on conversion during the tested period of time, then we could have avoided a big mistake and will simply return to showing the old version to everyone. Any hypothesis should be tested with A/B testing. This is the only way you can clearly understand whether your specific decision affected the growth or decline in sales or whether the market situation changed.

In the product, we even provide ready-made scenarios for the most common situations: checking changes to the website design, checking changes to the appearance of the product card, etc. Do not rely on intuition where you can really measure the result. And this allows you to develop your business systematically.
Post Reply