Feb 10, 2022
So you may be asking, okay, what is a standard conversion rate. YOu know we see people get discouraged if they don’t see a 20% conversion rate.
Truthfully, its WAY lower than that. So, your standard opt-in form, which is just a form that lives on your page that says, ”Hey, give us your email address to be added to our newsletter”.
The average signup rate for those forms is only 1%. ONE FRIGGIN PERCENT!!! That means that new store owners, who are undoubtedly and temporarily below average when they open their store, are seeing that less than one percent of the visitors to their site are actually joining their email list.
My guess is they are getting super discouraged, and you probably have too. Okay, so this brings us to our first tip when it comes to raising that conversion rate. There are two types of opt-in forms that are SUPER easy to build that can improve these numbers.
Instead of just having a form live on your site, this is why we built Popups. Specifically the discount popup. In Privy, you can build a Popup that pops up on your store after say, 5 seconds or after they scroll a chosen percentage down the page, offering them a discount if they enter their email address. The average signup or conversion rate for this popup is 5%. That’s 5x higher and it’s so easy to set up.
The next step up after that, albeit not everyone’s style so take this with aa grain of salt, is the Spin to Win campaign. If you think your audience will interact well with it, these have an average signup rate of 10%. That is massive! We even see some outliers hit 40-50% on some of these.
So the main Idea here is, if you are only offering a form embedded at the bottom of your page to collect email and you are wondering why it’s so low, try these out.
So this brings us to our next point and it’s all about remembering and catering your site to different visitors. Remember a couple of days ago I spoke about knowing your audience and focusing on those three buckets? They were new visitors, repeat visitors who haven’t purchased, and repeat visitors who HAVE purchased?
This is a perfect example of how you can treat each of these differently. In Privy, for example, let’s say we launch a popup. We can say “Hey, for new visitors, let’s wait at least 5 seconds, or wait until they have scrolled 75% down the page.”
This way, they get to experience your brand for a couple of seconds before being bombarded with what appears to be an ad right? We see that new visitors don’t like being bombarded because then your first impression is pressure, not freedom to form their own opinion and soak in your brand. But repeat visitors?
They know your brand and came back for a reason, so if you’ve got a discount or a special promotion, hit them with it right away. And Privy allows you to do all of this with a really easy targeting settings page right within the editor.
Okay, next we have a tip for raising the sales conversion rate for your store. Did you know that shipping cost is one of the biggest reasons for customer abandoning their shopping cart?
We recommend build a dynamic free shipping bar. Okay what I mean. No, I’m not telling you to offer free shipping on every single order, but check this out There is a sweet spot of the revenue you lose to free shipping and the revenue you gain from the higher rate or sale. Here’s an example:
Set up a free shipping bar at the top of your store that says: “Spend $50 to get free shipping”
But then when you add anything to your cart, a dynamic bar (like you can create with Privy) automatically updates to reflect the amount you need to spend to qualify for free shipping.
So now it’ll say: Spend $25 more dollars to get free shipping!
And people have seen big results from free shipping messages. Like When Sean McGinnis, Head of Marketing at Kuru Footwear, launched a static free shipping bar that said, “Free Shipping. Free Exchanges. Free Returns.” they saw a 23% increase in the overall store conversion. And on average, we see the dynamic bar perform better than the static bars.
I know this episode contained a lot of info you’ve probably heard throughout the last year, but it’s so important to remember truly how much of an impact these can make on your store. Maybe you keep hearing Ben talk about it but still haven’t set up that free shipping bar that’s just waiting in your account. The sales are literally just sitting there waiting for you. Well I really enjoyed my time here this week. Thank you so much for joining me and I’ll see y’all soon.