Let’s quickly define Shopify conversion rates so that we are on the same page.
From you product page views you have → Add to carts → Initiate Checkouts → Purchases
As seen for example in this coffee store:
This is a relatively healthy conversion funnel, however it all depends on the AOV (Average Order Value) of the store. If the store is selling low-ticket items for $20 a piece, a 3% conversion rate is not that great. If however the store is selling high-ticket items for $500 a piece then a 3% conversion is incredible. Makes sense, since for every conversion you make, getting $20 or $500 makes a massive difference.
For this store the AOV was around $80, so it was quite decent, however even here it was possible to increase the conversion rate by 30-40% using the following methods.
Note I’m listing them in order of importance, since many stores spend the time on the wrong things (in my humble opinion).
A/B test your price: there are numerous apps that allow you to split test the price of your main product. Say you are selling your main product for $70, well who says this is the most profitable price point? Split test it at $75, see what converts better. Take the winner and split test at $80 and so on. You’d be surprised at the results, since most stores do not know the full price elasticity line for their products. Here’s an example of a split test between the original $69.95 price and a new $79.95 price. Here the original price still performed better but then it was determined that the price of $74.95 was actually more effective ($5 extra margin for each sale!).
A/B test the product page layout: only after you have tested the price for your main product(s), start testing the other key components of your product page. Again there are many different apps that allow you to split test your traffic into product pages, where you test one factor at a time. I would start with product photos, then heading and main description. Start testing different versions!
Cross & up-sell: this might seem counterintuitive to add more things to the checkout process for the customer, but if done right you will be converting more products per website visitor in the sum total (what you want). The most basic way to start is to add a post-purchase upsell. After a customer completes a purchase (you are de-risked, whew), you can offer a upsell on the thank you page. Obviously entice your new customer, offer them a great discount and make sure the product matches what they just bought. Once you nailed that go down the funnel and start adding cross & up-sells on your checkout, add to cart and even product pages!
Shipping cost & time: how often does a potential customer go to your checkout page, to just be scared off by the shipping cost all of a sudden added to their bill. Shipping costs matter and the options you provide matter even more. This is what I would suggest: have a free option available, but make it clear that if they pay $X more they will receive very specific benefits (faster shipping, extra insurance, lower CO2 emissions etc.).
Localising currency & language (and vibe): even if 10% of your traffic is in a different country, where customers prefer their local language & currency, give them that. There are numerous apps that allow you to automatically update the page based on the IP address of a website visitor. Say a potential customer from Germany visits your page, the apps will straight away show them a page in EUR and in German. This will increase your conversion rate.
Improve your CRM: having better real time customer service is another obvious way to increase your conversion rate. Have real time chat functions or be fast to respond on any channel when a potential customer has last minute questions before their purchase. Generally, good customer service will increase returning customers and increase conversion rates that way too.
Set-up flows for browse abandonment: most website visitors who go to your product page will drop-off and not purchase. However you have their data which you can leverage. Set up automated browse & add-to-cart abandonment flows that send email reminders to anyone who left their contact information before dropping off. Do the same for SMS and push notifications (or any other mode you can reach the customer, will most likely be to the email, phone number or cookie settings that they left behind).
Retargeting campaigns on your main paid ad platforms: when you are running Facebook & IG ads to your product page, again most website visitors drop-off before purchase. Sure you’re now doing all the points above which is great, but remember your funnel starts before the product page when your audience sees your ad for the first time. Here’s the thing: your target audience on Meta that sees your ad, will then also go to TikTok, Google Shopping, LinkedIn etc. You can target them there as well and convert warmer leads!
Ok if you want more, then let me know but this should give you a big bump in conversion rates if executed well.
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Why I excluded add to cart count time timers and checkout page optimization: yes you can add a bunch of tight countdown timers to your add to cart pages and give your customers mini heart attacks if they don’t finalise the purchase in exactly the next 73 seconds. But here’s the thing, that’s not how you build goodwill with your customers. Some of them might be more likely to purchase now but at the expense of future purchases. Others might be repulsed by this tactic straight away. I’m not dogmatic about it but no big brand that you know does this and there’s a reason for it.
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