Tips for Increasing Ecommerce Conversion Rate with Data Analysis

– The store had a conversion rate of 7.54% in June, which is higher than the average for the year (6.13%).
– The store does not have sales or product launches, and only sent out 2 email campaigns in June to a limited audience.
– The store rolled out tiered automatic discounts for bundles, resulting in a 20% increase in bottom line, and offers a maximum discount of 20% on bundles.Focus on becoming data-driven and collecting data during signups to improve conversion rates.A store for which I handle marketing had a conversion rate of 7.54% in June (with an average of 6.13% for this year). Here are the answers to the common questions I receive:

Do you have sales?
We did not have any sales in June, and there were no product launches.

How many emails do you send out per week?
We only sent out two email campaigns the entire month, on the 25th and the 30th, to a limited audience. If we include June 1 – 24, our conversion rate was 7.73%.

How do you handle bundles?
On June 11th, we introduced tiered automatic discounts to replace existing bundles. This resulted in a 20% increase in our bottom line.

What is the highest discount you offer on your bundles?
The highest discount we offer is 20% when you purchase seven items or when you sign up for our newsletter and provide relevant shopping data.

What do you sell?
The store sells men’s underwear.

What is the net profit?
The store is profitable with a margin of around 25% and generated $182k in revenue, with the majority of traffic coming from Facebook Ads.

What is your current growth rate?
We are on track for 4x growth this year.

How many creatives have you made?
We have only created 60 ad creatives and fewer than 20 landing pages in the past 2.5 years.

How much emphasis do you place on SEO?
We do not prioritize SEO.

What sets us apart from other brands?
We base all our decisions on qualitative and quantitative data. We collect data directly from customers at every touchpoint in their journey. We also run an introductory offer on a single item to reduce customer acquisition cost through our paid channels. Additionally, we offer a 2x unique discount code during signup in exchange for data relevant to the customer journey, which encourages repeat purchases. We have also invested a significant amount of time into our product pages.

I have shared this formula before, as it is the closest one I have to a simple and repeatable approach for most brands. However, it requires you to prioritize data and collect it during signups. This has become non-negotiable for achieving success and being ruthlessly efficient. Without understanding data and getting close to your customers, it is impossible to reach that level.

My personal obsession has been getting to a 10% conversion rate.I have a few more tweaks to make to the customer journey that should be able to get us close. Some of the other changes we’ve made relate to policies, standardizing policies across customers in support and other areas to ensure consistency and profitability. Transparency is a huge thing that lacks for small businesses, we lean in on being a small business hard and it gives us credibility with our audience.The best part is all of the above is replicable with less than a handful of apps. This is just solid business fundamentals and customer journey decisions. #ecommerce #data #conversionrate

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