Magento Conversion Optimisation

We have worked extensively with Magento ecommerce sites implementing conversion optimisation to improve business revenue.

We regularly achieve lifts of revenue of 120%.


magento developmeny

What is Magento and what’s so great about it?

Magento is a leading ecommerce platform and content management system that offers online businesses control over their online store’s design, content and functionality. It is hailed as the ecommerce platform of choice by 1 in every 4 online retailers for some of the following reasons:

  • It’s a feature rich platform, with built in search engine optimisation support
  • It allows you to easily customise your sites appearance and content
  • Support for mobile e-commerce
  • Used by both large and small sized companies
  • Multilingual support
  • Easy to use
  • Open source technology meaning it is more flexible for developers
  • Ability to run multiple stores from a single backend system
  • Regularly offers new features and bug fixes

Magento is used by over 200,000 online businesses, including top brands such as Samsung, Nike, Nestle Nespresso, Adidas and Ford. It is evident that it provides features that surpass that of other e-commerce platforms. It is crucial you optimise your e-commerce site to ensure you are maximising sales and achieving the highest conversion rate and revenue possible.


conversion optimisation

What is Conversion Rate Optimisation?

 

Conversion Rate Optimisation (CRO) is the practice of increasing the number of your site visitors that turn into paying customers (convert from passive ‘browsers’ to active ‘buyers’) on your website.

CRO is a careful balance of both science and art, involving psychology, logical analysis (such as user research) and creativity (such as re-laying out and wireframing page designs). CRO has been proven time and time again to have a significant impact on website revenue, and in 2015, only 35% of marketers considered conversion optimisation a priority! To put this into perspective, this means the remaining 65% may have an excellent amount of traffic to their site but are losing out on thousands of pounds worth of sales because their site hasn’t been optimised from a conversion or psychological perspective.

It is essentially throwing money away. Make your SEO, PPC and other marketing efforts far more profitable (and affordable) through investing in conversion optimisation.


percentage

What are the benefits of CRO and why use it?

 

Here are a few ways in which Conversion Rate Optimisation can benefit your e-commerce site:

  • Increase the number of visitors who convert to customers
  • Boost your site’s revenue significantly
  • Improve your site’s user experience
  • Reduce psychological friction and anxieties (e.g. security, quality) for your site visitors
  • Reduce the amount of customers bouncing from your site
  • Boost positive customer feedback
  • Increase the speed in which visitors move through the sales funnel to a conversion

You may not think that your website is in need of optimisation if your revenue and sales look healthy. Even if this is the case, picture how sales figures would look once your site has a conversion optimisation strategy in place, significantly boosting the number of customers who progress from ‘visitor’ to ‘customer’. Our CRO strategy has resulted in conversion lifts of 120% in revenue.

Optimising your website will boost your conversion rate. See the table below on how increases in conversion rate directly result in increases in revenue:


  Traffic (visits)  

  Conversion Rate  

  Average Basket Value  

  Revenue  

10,000 1.0% £35.00 £3,500.00
10,000 1.75% £35.00 £6,125.00
10,000 2.55% £35.00 £8,925.00

Not only can you increase your conversion rate but also your average basket rate, by implementing upsells and cross-sells increasing your average basket value and revenue.


  Traffic (visits)  

  Conversion Rate  

  Average Basket Value  

  Revenue  

10,000 1.0% £60.00 £6,000
10,000 1.75% £60.00 £10,500
10,000 2.55% £60.00 £15,300

Websites should be built with a view for continuous improvement and monitoring in mind. Take an agile approach to your site: build, iterate, improve, build, iterate, and improve again to ensure you are reaping the most conversions and revenue possible. Having a solid conversion optimisation strategy in place will ensure you are squeezing every last possible conversion out of your site.


How is CRO applied?

To effectively optimise your website (and stop wasting traffic) you need a thorough conversion optimisation strategy, involving the application of psychology, stages of user research, testing and refining to gain as many conversions as possible. Here at Neuro Web Marketing, we apply a thorough, psychology based conversion strategy to ensure your site measures up to (and exceeds) our benchmarks.


psychology neuro web marketing

The importance of psychology in CRO

When implementing Conversion Rate Optimisation to a website, it’s key that either yourself or the agency you are using have an understanding of psychology. The techniques applied to optimise sites are based on how people work and how they process information, drawing on principles from social, behavioural and cognitive psychology.

Here’s one example of how psychology is involved in site optimisation: You may be faced with a high exit rate on your basket page with users not proceeding to checkout to complete the sale. Think deeper than this being purely a usability issue. Have you considered the anxieties that unconsciously arise for customers before checking out? Anxieties are unconscious (and conscious) concerns which decrease the likelihood your customer will complete the purchase. These anxieties can be around the following:

 

  •    Product/service suitability (‘Will this product/service meet my needs?’)
  •    Quality (‘Is this product going to look like it does in the photo when I receive it?’)
  •    Returns (‘Am I able to get a refund if I am not satisfied?’)
  •    Delivery (‘Will my product arrive on time?’)
  •    Security (‘Will my payment details be processed securely?’)

All these anxieties can be effectively relieved through addressing them at the point the anxiety arises, for example you could relieve the anxiety around security by putting security seals on your basket page.

This is only part of how psychology shapes conversion optimisation. We differ from other agencies in that we truly understand the importance of psychology and are thoroughly trained in its application to Magento site optimisation.


partners-claping-hands

Why use Neuro Web Marketing to optimise your site?


Not only are we well versed in the psychology of CRO, we also know Magento sites like the back of our hand (and work on them daily).

To reiterate, we differ from other agencies in the depth of our understanding on the application of psychology to Conversion Optimisation. There are many agencies that claim to be ‘experts’ in the field, however, in order for this to be true you must posses a comprehensive knowledge on how people think, how they buy, make decisions and move through the sales funnel.

 

We know how people behave, which is why we regularly achieve large gains for our clients. We’ve had years of experience in applying CRO to Magento sites and consider this our main area of expertise.  

 

We apply a broad conversion optimisation strategy to websites. It begins with a quick wins phase where we scan your site for any low hanging fruit that we can improve quickly to give you instant lifts in sales. Next comes our research phase which is in place to understand your competition, gain insight into your past and present customers and assess the usability of your site.

We then wrap this all up with our refinement phase, squeezing every last conversion we can out of your site. All the time this is going on, every team member is encouraged to give feedback on your site and comment on where it could be improved so we ensure your website is optimised as best it can be throughout the process.

 


Ready to optimise your site?

Get in touch