As a business owner, you may have asked yourself, "Why is my conversion rate dropping?" No need to panic. There are a few potential reasons why this might be happening.
In this blog post, we'll explore some of the most common causes why your conversion rate may be dropping and offer solutions to help get your conversions back on track.
Why is My Conversion Rate Dropping?
There are five main reasons why your conversion rates are not where you want them to be.
1. Lack of Interest in Your Product
One possibility is that your target audience is no longer interested in what you're selling. This could be because you're selling a seasonal product and it's now out of season, or because your target market has changed and your product is no longer relevant to them.
If you're seeing a sudden drop in your conversion rates during a certain time of year, it could be due to seasonal changes. For example, people might be less likely to convert during the holidays when they're busy with family and friends.
Another possible reason behind those conversion rate drops is that your competition has increased and they're now offering a better product or service. This could be why your potential customers are choosing to go with them instead of you.
Whatever the reason, it's important to take action to try to improve your eCommerce conversion rates. This could involve changing your product offering, revamping your marketing strategy, or even just taking a closer look at your sales process to see where you can make improvements.
If you're not sure why your conversion rates are dropping, take a look at your data and try to identify any trends. This can give you a good starting point for figuring out how to turn things around.
2. Poor Quality Leads
One of the most common reasons why your conversions may be slipping is that you're simply getting poor-quality leads.
What are poor-quality leads?
These are people who come to your website or call your business, but who aren't really interested in what you have to offer. They're tire-kickers and time-wasters, and they're not going to convert into paying customers no matter how hard you try.
How Can You Tell If You're Getting More Poor Quality Leads?
There are a few telltale signs.
- You're Getting More Web Traffic but Fewer Leads: If you're seeing a lot of traffic but there's a drop in conversions, it's a sign that you're attracting people who aren't really interested in what you're selling.
- Your Leads Are Less Qualified: Qualified leads are people who have a need for your product or service and who have the budget to buy it. If you're getting more leads but they're less qualified, it's a sign that you're attracting tire-kickers.
- You're Getting More Leads But They're Not Converting: If you're getting more leads but they're not converting into paying customers, it's a sign that you're attracting people who aren't ready to buy.
If you're seeing any of these signs, it's a good indication that you're getting more poor-quality leads.
So, What Can You Do About It?
There are a few things you can do to attract poor-quality leads:
- Improve Your Marketing: If you're getting more poor-quality leads, it's likely because your marketing isn't as effective as it could be. Take a look at your marketing campaigns and see if there's anything you can change to attract more qualified leads.
- Target Your Marketing: Make sure you're targeting your ad copy to the right audience. If your eCommerce store is selling products for businesses, for example, you won't attract many leads if you're marketing to consumers.
- Improve Your Website: Your website is often the first impression people have of your business, so make sure it's doing a good job of representing you. If your website is outdated or difficult to navigate, it may be turning people off.
3. Poor Website Design
Another reason why your conversion rate is dropping is that your landing pages are confusing or complicated to navigate. Maybe you're not offering enough incentives on your eCommerce store to encourage people to buy from you. Or it could be that your prices are too high.
Whatever the reason, it's important to identify the problem so you can fix it. Otherwise, you'll continue to lose business to your competitors.
Here are a few tips to help you troubleshoot the problem and get your conversion rate back on track.
Make Sure Your Website Is User-Friendly
Your landing pages should be easy to navigate and understand. If it's not, your website visitors will quickly become frustrated and leave.
To see if your eCommerce store is user-friendly, put yourself in the shoes of a potential customer. Try to find the information you're looking for, and see how easy or difficult it is to navigate your site.
If you find yourself getting lost or confused by the checkout process, it's likely that your website is too complicated. Simplify your website design and make sure the most important information is easy to find.
People are more likely to buy from you if they feel like they're getting a good deal. If you notice a drop in conversions, it could be because you're not offering enough incentives on your eCommerce site.
Consider offering discounts, free shipping, or other deals to encourage people to buy from you. Just make sure you don't offer too many incentives that you're not making a profit.
Review Your Prices
If your prices are too high, people will simply go to your competitors. Make sure your prices are competitive by doing some research on your industry.
You should also make sure that your prices are clearly listed on your website. Don't make potential customers search for your prices; give them the information they need upfront.
Analyze Your Traffic Sources
It's important to know where your website traffic is coming from. If most of your traffic is coming from organic search, then you know that your SEO efforts are paying off.
On the other hand, if you're getting a lot of traffic from paid ads, then you know that your ad campaigns are working.
Knowing where your traffic sources will help you identify which marketing channels are most effective. You can then focus your efforts on the channels that are bringing you the most traffic such as email marketing for example.
Usermaven is a great tool for tracking your website's traffic as it shows you your top conversion sources.
Pay Attention to Your Bounce Rate
Your bounce rate is the percentage of people who leave your website after viewing only one page. A high bounce rate is a sign that people are leaving your site without taking any action.
There are a number of potential reasons why people might leave your site without converting. Maybe your website is slow to load or maybe the content isn't relevant to what they're looking for.
Whatever the reason, you need to identify the problem and fix it. Otherwise, you'll continue to lose potential customers.
4. Negative Reviews
If you're getting a lot of negative reviews -- whether from social media or word-of-mouth -- that can definitely impact your conversion rate. People are more likely to trust their friends and family's opinions than they are to trust advertising, so if you're getting bad buzz, it can hurt your business.
5. Changing Customer Preferences
If you're noticing a sudden drop in conversion rate, it could be due to changing customer needs or preferences. It's important to stay on top of these changes so that you can make the necessary adjustments to keep your conversion rate high.
One reason why customer needs or preferences might be changing is because of the current economic climate. With so much uncertainty, people are more careful with their money and may be more reluctant to make a purchase. They may also be looking for more value for their money, so it's important to make sure that your pricing is competitive and that your products or services are offering good value.
Demographic shifts could be another reason why there is a drop in conversion rate. If you're noticing that your target market is changing, it's important to adjust your marketing strategy to reach them. For example, if you're targeting a younger audience, you'll need to use different channels and messaging than if you were targeting an older audience.
Finally, keep in mind that customer needs and preferences can also change over time. What was popular a few years ago might not be as popular now. It's important to stay up-to-date with trends so that you can adjust your offering accordingly.
If you're noticing a drop in your conversion rate, it's important to take a closer look at your customer base to see if there have been any changes in their needs or preferences. By understanding why your conversion rate is dropping, you can make the necessary changes to keep it high.
Frequently Asked Questions
What causes a drop in conversion rate?
There are many potential reasons for a decrease in conversion rates, including:
- A change in the target audience or customer base.
- A decline in traffic to the website or landing page.
- An increase in competition.
- A change in the pricing structure.
- A change in the product or service offering.
- A change in the copy or messaging on the website or landing page.
- A change in the design of the website or landing page.
What do you do when your website conversion rates drop?
There are a few potential reasons why your website's conversion rate might drop. Maybe you've changed your pricing, or the products you're selling are no longer in demand. It's also possible that your website is no longer as user-friendly as it used to be, or that you're not getting as much traffic as you used to. Always make sure to check that your website is working properly and make changes to your website accordingly.
If you're not sure why your conversion rate is dropping, the best thing to do is to experiment with different changes on your website and see what works. Sometimes even a small change can make a big difference.
How do you fix a conversion rate?
There is no one answer to this question as it can vary depending on the situation. However, some possible reasons for a drop in conversion rate could include changes in the market, competition, or your target audience. To fix a conversion rate, you would need to identify the reason for the drop and then make changes accordingly.
There are a number of potential reasons why is my conversion rate dropping. However, by troubleshooting the issue and implementing some best practices, you can get your conversions back on track. If you're still seeing a drop in your conversion rate after trying these solutions, reach out to an expert for help.