Let's talk about how to double your online store sales with Alejandro Moreno.
But first things first: While Alejandro is an e-commerce consultant, he and his team at Getmore , an agency specializing in e-commerce with Shopify and Shopify Plus , have created more than 500 online stores in Mexico. Skindion, Palmar, La Castellana, and Fantasías Miguel are just a few of their success stories.
Sales are not the most important metric, but rather the consequence of the three most important metrics.
1. Conversion rate
In their words, the conversion rate is the most important metric, referring to the percentage of people who enter your store and end up making a purchase. This is divided into three sub-metrics:
Add to cart rate
You arrive at the product page and the first action you'll take is to add it to your cart. This rate should be at least 5%, although it depends on the industry, as Alejandro correctly points out. For example, in a fashion and apparel e-commerce site, the minimum percentage should be around 12%, while in a sports e-commerce site, it should be around 8%.
“If your numbers are below 5%, it means you're not sending the right message, your marketing campaigns aren't effective, and your customer experience isn't the best,” he says. Or, your website design might not be responsive .
Before investing more in marketing, optimize your store's user experience.
- How to increase the add-to-cart rate? The key is to provide fast and intuitive navigation, which can be achieved through various elements such as a mega menu, a search bar , and filters, depending on the situation. Additionally, it's essential to consider the following:
- Above the fold refers to the first screen, the user's first impression. If it doesn't grab their attention immediately, you've already lost.
- Trust symbols and testimonials. This is where logistics come in. If your product page promises next-day delivery, it's crucial to deliver on time and in full to build trust with customers and also showcase this on the product page.
- Professional design. Shopify offers countless pre-designed themes and templates, or you can create one from scratch. If you're thinking of creating your online store on this platform, Alejandro recommends the Focal template for pages with fewer than 50 SKUs, while for those with more than 50, the Empire template is the best choice.
To implement a successful, intuitive navigation strategy, contact us. We'll be your best e-commerce guides to boost your sales.
Rate that arrived at checkout
“This refers to the percentage of people who have already clicked the 'add to cart' button and reached the checkout stage, but haven't paid yet,” Alejandro explains. He also suggests the following.
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How to increase the checkout rate?
- Have a smart shopping cart. For him, the most effective strategy is to have a smart shopping cart, a point he implements with his clients at Getmore using Rebuy , an efficient tool that uses artificial intelligence and an algorithm to offer products on your e-commerce site. Depending on the items the customer adds to their cart, the site will make similar recommendations. This is also known as cross- selling .
- Pay attention to the wording. Test the wording you use for checkout in the shopping cart. If your cart completion rate is low, try changing the wording to improve the user experience and engage them. You could try using words like "checkout," "complete order," or "pay," for example.
- Payment methods and discounts. An online store can't survive without promotions and various payment options. Consider them to enhance the user experience and boost sales. You can even utilize platforms like Kueski , which offer real-time loans to users with installment plans.
Conversion rate
This refers to the number of people who made a purchase in your store. When this percentage is low, it means it's time to optimize and improve the two previous metrics. This will increase your conversion rate.
Also, in Alejandro's words, there are two reasons why the conversion rate does not reach its maximum.
- How to increase the conversion rate?
- Payment methods. Analyze which payment method your customers use most often and prioritize them for future users. This means you'll know how your market prefers to pay so you can offer them the best options to meet their needs. You can achieve this with our help at Getmore if you're a Shopify Plus user.
- Trust. It's important that your online store includes testimonials, customer reviews, and even star ratings throughout the user journey . Implement these to build trust at checkout using Checkout Extensions (only available in Shopify Plus).
2. Average ticket
The average order value indicates the average amount each user spends on a single purchase. According to Alejandro Moreno, the formula for increasing it includes implementing a free shipping strategy for purchases over a certain amount, as well as cross-selling (complementary products) as previously mentioned, and offering gifts based on purchase volume.
3. Sessions
While this third metric is not Getmore's area of expertise , Alejandro suggests attracting more users and increasing your number of sessions by implementing a strategy that includes SEO , Google Ads, email marketing and influencers, as well as referrals and affiliates.
Once your store is 100% optimized with the first metrics mentioned, it's time to "turn on the tap" for sessions. This ensures that the impact of bringing in quality traffic is much more beneficial for the store, as you'll be offering an excellent user experience based on trust and industry best practices.
Conclusion
So, how do you double sales? The formula is simple: Sales = CR x AOV x Sessions . In other words, multiply the three metrics mentioned above (conversion rate, average order value, and number of sessions). The goal is to increase them by 26%. If you increase this percentage across all three metrics, they generate a compounding effect. This automatically doubles sales, and you'll see the difference reflected in your revenue.
If you're interested in optimizing your e-commerce business based on a detailed analysis, contact us and we'll be happy to help.
