When it comes down to it, the bottom line, the end all be all …it’s the dollar. There is no way around it. All the landing page creation, optimization and testing comes down to one simple rule, “More Conversions = More Possible Revenue.” Driving those valued dollars of course, are the consumers. E-commerce retailers love the consumers, consumers make the world go round. You yourself are a consumer. The beautiful thing about consumers is what can be learned from them. Either directly or indirectly, the actions they take or do not take, must be capitalized on.
Let’s take a closer look at four mind blowing facts about the current state of the e-commerce industry. Before diving into the facts, know that having consumers land on a product-focused landing page can make a drastic difference. With this on your mind, take a look at the percentage of companies that are testing the pages their consumers land on…
1. 63.86% of people start the checkout process but don’t complete it, while only 14.6% of online retailers are doing anything to improve it.
2. Only 37% of online retailers are using A/B split testing tools.
3. More than 80% of the online population has bought something over the Internet.
4. Forrester’s Mobile Commerce Forecast shows a 39% growth rate between now and 2016 for mobile commerce.
After reviewing these facts there are a few key take-aways we need to focus on:
1. Bounce rate of the checkout process. Why are they leaving? Ugly landing pages, too many form fields? The combination of possibilities makes the head spin. What is the simple solution…? Test!
2. The percentage of online retailers that are currently A/B or MVT testing landing pages is somewhat disturbing. Imagine a world where all pages would be tested? Oh the possibilities, the ROI!
3. People are spending, and they are spending online. E-commerce is a huge outlet, especially for the population that has the spending power. Think about it - people working all day, on a computer…what’s the easiest way to purchase? Without moving, online shopping. It is necessary for e-retailers to understand this, and ensure that the pages these consumers are landing on are visually appealing, easy to navigate and have a clear CTA. Following this formula has high potential for increasing conversions, and in turn, increasing revenue.
4. Mobile, a very popular subject. Having the right mobile landing pages for consumers is a huge factor, especially with the projected growth for the mobile commerce industry. Testing mobile landing experiences is just as easy as traditional testing, and just as effective.
In the end, it comes down to the dollar. It is the driver of all industries, and frankly, always on the mind. E-commerce retailers need to realize the value of A/B and MVT landing pages and checkout experiences for their consumers. Shown in the statistic above (#3), with 80% of the online population making purchases, the ROI and revenue possibilities are virtually limitless.
For even more mind blowing e-commerce facts, check out: