As an online business owner, you’ve likely encountered the frustration of low sales. And that’s a conundrum because you’ve reviewed your ad data and seen that customers are clicking on your product ads. You’ve consulted site analytics and seen organic traffic flowing into your site, with visitors moving through to product pages.
Yet, despite the traffic, the number of people adding products to their carts is minimal; even then, most of those carts have been abandoned and no one is completing a purchase.
In situations like this, you might want to jump straight to conversion optimization: Maybe, then, making small changes and conducting testing will reveal what’s holding customers back . . . right?
Maybe not. Before you start testing ideas you’ve read, about mastering conversion optimization, always take the “research-before-action” approach. Here are a few things to look into when your products aren’t moving.
1. Do price comparisons.
Whether it’s a new product you haven’t been able to move, or a sudden slowdown in product sales, know that a good place to start that’s easy to research is the price of your product. Don’t limit yourself to just looking at competitors, though. Get broad with your product search.
Look at marketplaces like eBay and Amazon, and check Google Shopping Ads, as well as competitor sites. Is the product available in stores? At what price? Along with the listed price of the product, are other popular sites or stores offering discounts that can lower the price? Consider the shipping cost of each provider as well, as these could change the final cost.
When comparing prices, look at the final cost for the customer, not just the retail price point. Research shows that customers typically comparison-shop, often visiting up to three websites before making a purchase decision. Ninety-four percent of customers take the time to find the lowest price for a product before they buy it.
If they can find it cheaper elsewhere, they’ll buy it there, causing your sales to fall (or to never materialize in the first place).
2. Review your audience targeting.
You have pretty tight control over the audience you send to your site through PPC ads and social promotions. So, if the clicks are coming, but no one is purchasing, you need to review your audience targeting.
You may have a general idea of your audience, but you may still need to narrow your focus further so that you’re targeting the people most likely to purchase. “Our online behavior tells platforms a lot about our buying intentions,” says Rocco Baldassarre, CEO of Zebra…