Top 5 Effective Ways to Increase Conversion Rate of Online Business

As per the latest study and reports done by marketing experts in 2020, around 64% of consumers use various channels to begin and complete an online purchase. Are you an online retail businessman or an entrepreneur searching for the best and practical tips on how to grow your business online? Then, go through the detailed write-up to know how to improve conversion rate of generated leads to achieve the aimed reach and turnover via five efficient tips.

1. Include Customer Reviews and Testimonials – Customer testimonials and reviews are an effective source of developing customer's faith and trust in your brand and business. It proves that the brand and the company have credibility in delivering the best and satisfactory products and related services to the customers. Suppose you include the customer testimonial and reviews section in your online business website or on social media platforms. In that case, it will drive more engagement and generate valuable leads towards business. It will attract more customers interested in availing of the service or purchasing a product from your business line. So, if you want to include the customer reviews and testimonials, then you can consider the following pointers:

Seek a testimonial or a quick review from your trusted customers who had recently made a purchase from your website or availed of the service recently.
Connect with the top or renowned product reviewers or critics to collect honest and unbiased testimonials for your product and services.
Initiate the reward points program for promoting the existing customers to provide a comprehensive review or testimonial after purchasing and using your products and services. You can reward the customers after procuring and submitting a thorough review with images of the purchased products and services in this program.

2. Adopting the Digital Transformation Techniques – There is an abundance of digital transformation techniques available in the market that offer valuable aid. To accelerate the brand presence of ventures, improve the workflow of different departments, and leverage the ventures' online market strategies and tactics to increase the online business's conversion rates. Are you looking for some proven digital transformation techniques? In that case, you may consider the following trend and valuable IT solutions to increase the conversion rate:

Chatbots - Chatbots are the best instance of artificial intelligence and digital transformation in customer service. They are adept at multitasking activities by responding to multiple customers and high query flows in real-time.
Automated Emails - Email automation API providers can automate various emails ranging from promotional, marketing, product launch, customer service-related emails via email marketing automation API. It will help in automating emails and saving lots of time and resources in shooting emails.
Automated Customer Support - Automating customer support saves time and money from gathering resources and recruiting agents. To automate customer support, you can avail yourself of the services offered by top-notch automation service providers.

3. Launching Customer Loyalty Program – Customer loyalty program is a process in which the existing customers are offered an assured bonus, gifts, or points. They are allotted the guaranteed fixed benefits or points once they purchase the product, promote your product, or refer your online business to their connections and convert a sale out of it. They are an effective way to drive more engagement to your online business, expand the business to different regions and audiences, and promote sales activities by promoting consumers to purchase more products by offering them assured bonuses. You can plan a structured approach to launch the customer loyalty program for your online business by keeping the few tips handy:

Before launching the customer loyalty program, carefully analyse the purchase trends of your consumers.
Prepare a list of consumers with high purchase activities and potential customers who wish-listed the shopping carts’ products.
Launch email campaigns via e-newsletters, SMS campaigns by including rich media, and social media campaigns through the engaging post to inform the existing consumers and potential buyers about the loyalty program.

4. Improving Customer Service – Did you know that around 93% of consumers prefer to make a repurchase with an online business or any business if they offer impeccable customer service and support to them? Indeed, customer service is one of the essential aspects to increase the conversion rate of your online business, but it is one of the often overlooked factors. So, to improve the customer service of your venture, consider the enlisted tips:

Adopt the automated customer service program and API to smoothen out the tedious customer service cycle. It will reduce the long wait time and high open customer ticket rates.
Create an efficient customer response template to reduce the risk of erroneous replies and ambiguous responses to the customers.
Adopt carrier distribution switch to ease managing and functioning communication through divisions and transmitting administration-related concerns. To handle and target the routing of various carriers without a glitch.

5. Conducting Marketing Campaigns – Marketing campaigns are an effective way to generate effective leads for increasing the conversion rate for the online business. There are different types of marketing campaigns that are in trends in the online industry; some of these are:

Initiating Webinars - Webinars are seminars conducted over the internet. They are used to driving engagement, generating leads, and promoting the brand online. They are operated via webinar-bearing online platforms. You can control the audience limit, duration of the webinar, activity of the participants, and lead an interactive Q&A session via webinars. Promote the webinars on various social media platforms to drive high engagement and gather an influential targeted audiences' list for your webinar.
Launching Sales - Sale is used to promote the venture's sales activities or push the demand of the products whose demand is low or has a low sales rate. So, launch sales after analysing the sales activities and trends and seasonal needs of consumers, such as festivals and occasions.
Approaching Social Media Influencers - These days, social media influencers are in trend to launch effective social media marketing campaigns or online branding campaigns. So, you can plan around launching the social media influencers marketing programs. To carry it out effectively, you can create a list of social media influencers of various platforms and approach them to promote your branding campaign by introducing the products in their network proactively. You can offer them a barter system or pay them for the promotional activity. Ensure that they are not promoting your product subtly rather than following a direct marketing approach.

Bottom Line

With the help of the top 5 effective ways, it would have answered all the queries on how to increase conversions and how to expand business online. So, plan out your online marketing strategies to increase conversion rates by effectively generating leads from the targeted audience and engagement campaigns.

Also Read:

1) 10 Best Business Sustainability Strategies & Solutions For Business Growth
2) Tips on How to Recruit the Best Employees for Development of your Small Business
3) 10 Reasons Why It's Easy to Start a Business in India
4) 10 Budgeting Tips For Small Business Owners

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FAQs

Q. How to increase the conversion rate of the generated leads of an online business within a couple of months?

Ans. You can increase the conversion rate of an online business within a couple of months only if you have promising leads and fair online engagement campaigns. Otherwise, you can follow some effective marketing strategies to increase the conversion rate, such as conducting webinars, conducting the sale, and sending marketing and promotional newsletters.

Q. How to grow my business online?

Ans. To grow the business online, you will have to plan and launch online marketing campaigns strategically, build an effective emailing list to reach a better and targeted audience, and establish a customer loyalty program.

Q. How much duration will it take to expand the business online?

Ans. There is no specific deadline or sure-shot duration post which an online business can grow and expand. But if you follow a detailed approach towards planning, implementing, and analysing effective online marketing strategies and tactics.