These small, simple changes can garner more click-throughs and boost revenue.
Split tests are by far one of the best ways to improve your conversion rate on your e-commerce store. A split test is essentially a small change made within your business model to see if it produces an increase in profit.
We are going to look at some of the ways you can implement these small changes in your day-to-day business routine in order to boost your revenue, get more click-throughs, and grow your business.
The first thing you should know is not all A/B tests produce insane amounts of revenue beyond your wildest dreams. When you run these types of tests on your business page, the goal is to find small changes that work.
As long as you keep an open mind and remember that not every change is going to profitable, you'll eventually start learning what split tests work well within your business model.
Now that we have that caveat out of the way, let's look at some of the most successful types of split tests and how you can start using them today.
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Change a suggestion to a CTA (call to action)
The way you use your words is the single most important defining factor when you build an e-commerce brand. Your goal is to convince the customer that you have a product worth buying and that your brand is trustworthy, high quality and dependable.
Confidence is key in all areas of our life, and running an online store is no different. You have to go into it with the mindset that the customer is there because they are 100 percent ready to make a purchase. Your language has to reflect this confidence. One company found that when they changed a suggestion to a call to action, the CTA outperformed the original by a staggering 127 percent.
Original: Get a Free Trial
Variation 1: Start Free Trial
Variation 2: Get Free Trial
Variation 3: Free 30-Day Trial
Variation No. 1 is the one that increased revenue by such a wide margin. The theory is because "Get a Free Trial" sounds like a suggestion. As in, "Would you like to get your free trial?" Variant No. 2 is similar to the original, and variant No. 3 has no real suggestion. The first variation oozes confidence and assumes the customer is there to take advantage of the trial. You can use this call to action whether you're offering a discount, a free gift (e-book, physical item, etc.), or even just if you're trying to get someone to sign up for your newsletter.
Which one looks better? "Would you like to sign up for our newsletter?" or "Start getting our newsletter and awesome deals now!" The choice is obvious. Words are everything!
Try different images
The way you display images can have a huge impact on your conversions. There are some people who like to see images of the product they are purchasing at all angles, much like you would see on an Amazon listing.
Other people like to see people using the product in a practical way. For example, if you're selling a vacuum, you might show an image of someone using your vacuum in a sparkly clean home. This image can change how people view your product. They might think, "I want my home to look that clean," and that can initiate the purchase.
When you're trying to decide what images work best for your product or brand, make sure you are testing both images over a set period of time so you can see what kind of images attract your audience.
Change pricing options
There are multiple split tests you can use when changing your pricing. The first method involves deciding whether you want to use even or odd numbers when pricing your products.
Odd number prices, such as 19.99, can encourage conversions, because people feel like they are getting a deal. They feel as if they are only paying 19 dollars instead of 20, even if there is only a 1 cent difference.
On the other hand, most companies that advertise their products as being high quality use even-number pricing, like $100.00. The even numbers lead customers to believe that they are investing in a product that is top of the line.
Another way you can use split tests with your pricing and possibly reduce abandoned e-commerce carts is by changing the price of your product and seeing how customers respond. One company had a product that had an initial cost of $19.95. They did a split test to see if raising the product to $29.95 to see if the same percentage of customers still made purchases on the website.
Their findings? At both prices, 1.1 percent of customers followed through with their purchase. In other words, this business owner increased revenue by 36.48 percent just by split testing the price. You can also add coupon codes to see if customers respond well to a "discount," even if the base price is the same after the coupon.
In the previous example, if the business included a 36 percent discount, but 5 percent of people who viewed the page converted, that's a 4x increase with the addition of a coupon code and a slightly higher price!
Split tests offer entrepreneurs nearly infinite possibilities when it comes to increasing and adjusting sales. It's important to keep in mind that every business is different, so what works for one company may not work for another.
If you want to continually grow your business, it's vital that you continue testing variables and find ways to make your e-commerce store more appealing. Learn from your failures and continue making changes.
Even if you think you've found an award-winning formula, continue split testing. There is infinite room for growth in a free market. If you're willing to continue making small changes and measure how it impacts your business, you're constantly tweaking your business for success.
There is no "end goal." As your business grows, you should continue making changes and growing alongside your online store.