eCommerce June, 2024

How to increase eCommerce conversion rates with product configurators

In the bustling world of ecommerce, conversion rates are crucial indicators of success.

Table of contents

Conversion rates reflect a website’s effectiveness in turning visitors into customers, indicating a successful customer journey and potential for increased sales and revenue.

Boosting conversion rates is vital for eCommerce businesses seeking to thrive in the competitive online marketplace, as higher rates mean improved ROI from marketing efforts. Product configurators play a key role in enhancing more conversions by empowering customers to personalise their purchases, creating engaging and personalised shopping experiences that lead to higher conversions.

With the help of Mimeeq Products Configurator increase personalization, simplify decision-making, and improve product understanding, learn how to improve conversion rate eCommerce and ultimately drive business success.

What are eCommerce conversion rates

Ever wondered how many visitors to your online store become paying customers? That’s where conversion rate comes in. It’s the percentage of website visitors who take desired actions, usually making a purchase.

Calculating it is simple: divide the total number of transactions by the total number of website visitors within a specific timeframe (like a month), then multiply by 100. For instance, if your store had 1,000 visitors and 20 sales in a month, your conversion rate would be 2%.

Calculation for conversion rate

What is a good e-commerce conversion rate? There’s no magic number considered to be “good” – eXommerce conversion rates can vary depending on your industry, product type, and target audience. However, industry benchmarks suggest an average conversion rate of around 2.5-3%. This means for every 100 visitors, you can expect 2-3 customers. But remember, this is just a baseline.

Here are a few key factors that can influence your conversion rate:

  • Website usability: a user-friendly website with clear navigation, high-quality product images, and detailed descriptions is essential for a smooth shopping experience.
  • Mobile optimization: with the rise of mobile shopping, ensuring your website is optimised for mobile devices is crucial.
  • Checkout process: a streamlined checkout process with multiple payment options reduces friction and encourages purchases.
  • Trust and security: customers need to feel confident that their information and transactions are secure on your website.
  • Marketing and advertising: effective marketing campaigns can attract high-quality traffic more likely to convert.

Understanding and optimising your conversion rate is vital for any good eCommerce business. By analysing your website, checkout process, and marketing efforts, you can identify areas for improvement and ultimately turn more visitors into paying customers.

Importance of product configurators in eCommerce

Imagine a software tool on your eCommerce platform that allows customers to virtually customise your products. Product configurators do just that! They provide an interactive interface where customers can select features, colours, materials, and even add engravings to create personalised versions of your offerings.

Check Jacket Demo

Some configurators even utilise 3D visualisation or augmented reality, letting customers see their creation come to life before they buy. There are compelling reasons to embrace product configurators:

  • Enhanced customer experience: customization empowers customers, fostering a sense of ownership and satisfaction.
  • Increased average order value: customers often add features and upgrades during configuration, leading to higher order values.
  • Reduced returns: by visualising the final product, customers are less likely to be surprised by what they receive, minimising returns.
  • Improved online sales efficiency: configurators can upsell and recommend complementary products based on customer selections.

There are several companies that have seen remarkable success with product configurators. Studies have shown that their customization options have led to a significant increase in customer satisfaction and rise in sales of customised products:

  • Nike allows customers to design their own sneakers with endless colour and material combinations.
  • Spoonflower empowers users to create custom fabric designs for clothing, homeware, and more.
  • Dell uses configurators to guide customers through building their ideal PCs with personalised configurations.

Product configurators are not just a fad – they’re the future of eCommerce personalization. Consider integrating a product configurator into your platform and watch your conversion rates soar.

Strategies to improve eCommerce conversion rates with product configurators

To maximise the impact of product configurators on conversion rates, you need a strategic approach. Here are some key strategies to consider:

  • Optimising user experience (UX): smooth configuration processes with clear instructions and intuitive drag-and-drop options. Ensure seamless responsiveness across devices and display instant price and availability changes. This prevents surprises at checkout.
  • Personalization and customization strategies: offer pre-designed configurations and suggest complementary options based on user selections. Enable users to save their creations for future use and utilise purchase history and browsing behaviour for relevant customization suggestions.
  • Enhancing visual appeal and interactive features: present products with detailed 360° views and interactive features for users to visualise their creations. Incorporate options for virtual placement in homes or on models and consider live chat support and social media sharing.
  • Utilising social proof and reviews effectively: showcase positive reviews and success stories to build trust and encourage purchases. Integrate social media sharing buttons and feature user-created configurations on product pages for authenticity and inspiration.
  • Implementing performance tracking and analytics for data-driven decisions: analyse user interactions with the configurator to identify areas for improvement. Test different configurations and functionalities to optimise conversions and tailor future offerings based on user preferences.

Implementing configurators can definitely increase the conversion. Provide a seamless, personalised, and visually engaging experience to empower customers and watch your conversion rates grow!