Twitter Facebook LinkedIn Flipboard 0 As the number of global smartphone users continues to explode, building an online business is one of the fastest ways to economic freedom. Whether you sell souvenirs on Shopify or widgets on WooCommerce, offering your wares to international consumers can help you build a life of financial freedom. But building a revenue-positive business takes more than product and perseverance; it takes a deep understanding of your customers and knowledge of their trigger points. If this is the year you skyrocket your e-commerce conversion rates, following are the seven critical components of e-commerce marketing you absolutely need to know. Pricing If you want to increase your e-commerce conversions, appropriate pricing is essential. This doesn’t mean you have to charge the lowest price; your pricing needs to be appropriate for current market conditions and your target customer’s understanding of your value. Customers will often pay higher prices when they perceive your product to be of greater value. It is up to you as an e-commerce merchant to understand market conditions and ensure your business’ value proposition is easily understood. Scarcity While we are on the subject of market conditions, scarcity plays an important role in e-commerce conversions. When customers believe they might miss out on a product or a time-limited offer, they are more likely to complete a sale. Use this information to your advantage by limiting your available inventory or offering a special deal for a limited time. Visual Imagery Whether you use videos or photographs, the visuals you offer on your e-commerce site have a huge impact on your conversion rates. Pixabay “Food porn” is a good example of the power of imagery. Would you purchase a car without seeing it first? If you want to boost your e-commerce conversion rates, it is imperative your images are better than your competitors’ images. Call to Action Call-to-action buttons and precise copy are essential for online business success. You can’t simply add a ‘click here’ button and hope customers will feel motivated enough to complete a sale with your company. Choose copy that motivates purchases and ensure your CTA buttons are inviting and easy to find. Free = Higher Conversions Did you know that offering something for free increases conversions? Whether you call it the ‘guilt factor’ or the ‘return the favor’ principle, the result is the same – customers are more likely to complete a sale when they have received a free gift from an online business. Offer a free ebook, a free whitepaper, free shipping, or a free gift with purchase; it doesn’t matter as long as your customer feels rewarded for their patronage. Customer Testimonials Reviews from happy customers can have a significant impact on your conversion rates. Potential customers want to know others have found value with your products/services. Highlighting positive reviews on your home page will encourage shoppers to explore your site and dig deeper for deals to discover. Social Proof In our socially connected world, social proof plays an important role in e-commerce conversions. From an influencer tweeting about a purchase to a coworker sharing their latest find on Facebook, buyers look to others for social proof of your brand’s relevance. Don’t hesitate to cross-post positive social reviews on multiple social media networks. Share links to positive Facebook comments on Twitter and vice versa. Embed positive tweets in a blog post or create a Pinterest board featuring fabulous comments from happy customers. Increasing your e-commerce revenues is easy if you approach conversion rate optimization logically. You don’t need to be a marketing wizard or cast a spell on your customers; simply follow the above tips and your CRO will automatically improve. Building a profitable online business is now easier than ever if you understand your customers and approach brand building in a methodical manner. Will you be incorporating these e-commerce conversion rate tips into your growth strategy this year? Twitter Tweet Facebook Share Email This article originally appeared on Floship and has been republished with permission.Find out how to syndicate your content with B2C Author: Kane Pepi Kane Pepi is an experienced financial and cryptocurrency writer with over 2,000+ published articles, guides, and market insights in the public domain. Expert niche subjects include asset valuation and analysis, portfolio management, and the prevention of financial crime. Kane is particularly skilled in explaining complex financial topics in a user-friendlyView full profile ›More by this author:VoIP Basics: Everything Beginners Should Know!Bitcoin Investment, Trading & Mining: The Ultimate Guide for BeginnersIs This a Better Way to Set Your 2020 Goals and Resolutions?