Traffic is the foundation of a store’s survival. However, if there is only traffic but no conversion or the conversion rate is too low, it will not effectively increase the store’s sales and may even affect the overall ranking of the product and the store. Therefore, after successfully attracting traffic, the store needs to use various operational means to improve the conversion rate. To improve the conversion rate, it is necessary to first control and manage other related data (such as click-through rate, collection rate, etc.).
There are many important data that reflect the store’s operation. Here we focus on the four data of click-through rate, collection rate, add-to-cart rate, and conversion rate.
(1) Click-through rate
The click-through rate is a data that measures the product’s ability to attract traffic. The calculation formula is: Click-through rate = (click volume – display volume) x100%
From the formula, it can be seen that in order to increase the click-through rate, it is necessary to increase the click volume. The product title, unit price, sales volume, main picture, etc. can all affect the click volume. Take the title as an example. When the product title does not contain effective keywords, that is, it does not contain keywords that consumers will search for, consumers cannot search for the product through keywords, the product has no display opportunity, and naturally there will be no click volume. Therefore, whether the title is set reasonably directly affects the number of clicks on the product. After consumers search for a product, they will see the main picture of the product. At this time, if the main picture has a good visual effect, prominent selling points, and the product is attractive, it will have a greater chance of attracting consumers to click. While consumers are viewing the main picture, the product price and the number of people who pay may also affect their judgment and choice. If the product has considerable sales and a reasonable price, it will also help increase the number of clicks on the product.
In general, to increase the click rate, you need to find a way to increase the number of clicks, and to increase the number of clicks, you need to optimize the product title and main picture.
(2) Collection rate and add-to-cart rate
The collection rate refers to the ratio of the number of collections to the number of visitors, and the add-to-cart rate refers to the ratio of the number of add-to-carts to the number of visitors. The higher the collection rate and add-to-cart rate of a product, the more consumers intend to buy the product, and the greater the probability that these consumers will make a deal. Generally speaking, consumers collect a product or add a product to their shopping cart because they have developed an interest in buying the product, but have not yet made up their minds to buy it for some reasons. Compared with the traffic from directly clicking to view the product, the traffic from adding to favorites and adding to cart is more likely to result in conversion. Merchants should give full play to the conversion advantages of products with high collection and add-to-cart rates, and appropriately stimulate consumers to collect and add to cart by adjusting prices, giving gifts, discounts, etc., so as to increase consumers’ willingness to buy and encourage them to place orders to achieve traffic conversion.
(3) Conversion rate
Increasing the conversion rate is an effective way to increase sales. The conversion rate calculation formula is: Conversion rate = number of paying customers – number of visitors x 100%. The process from consumer visit to payment is also called payment conversion. The payment conversion rate directly determines the amount of store sales.