The point of any business’ website (or any digital offering, really) is to turn visitors into customers, and eventually, repeat customers.
How often the site is able to do that is called the conversion rate. Simply, if 1000 people visit a site, and 20 of them make a purchase or sign up, the conversion rate is 2%.
On average, websites will have a conversion rate of about 2.35%. The top 25% of websites, however, convert at a rate of 5.31%. And the top 10% of sites? 11.45% or more.
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Bear in mind, though, that these are guidelines. Your business should set a benchmark for a realistic conversion rate, dependent on your industry and what your revenue goals are.
But regardless of what your optimal conversion rate is, everything you do needs to work towards increasing it. This is especially true of how your users (read: customers) experience your website.
How bad can bad UX really be?
88% of users are less likely to return to a website if they’ve had a bad experience.
What makes this even more intimidating is just how much there is to consider when building your user experience. To give you an idea, here are three (of many) UX factors and why they are important to consider:
design
- 94% of first impressions come from design, and 75% of judgements on how credible a website is are based on what it looks like,
mobile optimisation
- people who use mobile sites are five times more likely to leave if the site isn’t mobile-friendly, and 83% of users say that they highly value a “seamless experience across all devices”,
and how quickly the site loads
- 53% of users will leave a mobile site if it takes longer than three seconds to load.
These three factors are merely a drop in the UX ocean. There is so much more to consider when creating a user experience.
But one of the most important factors to consider is how easy you make it for your customers to spend their money.
UX and payment go hand-in-hand
It stands to reason that by optimising your UX, you give your business a better chance of improving your conversion rate and standing out from your competitors. But once you’ve convinced a site visitor to make a purchase, and become a customer, you need to ensure their payment journey is as seamless as their experience has been until that point.
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That’s where Ozow can help. Here’s an example.
We have worked with various mobile money merchants to optimise their customers’ payment experience. This improved customer journey saw an increase in their conversions. Among these merchants, this resulted in an average increase of 37% in processing values, and a 32% uplift in transaction count. Both of these numbers are indicative of the fact that a trusted user experience can result in higher conversion rates.
It’s all about giving your customers the most frictionless journey you can, from the moment they land on your site, through to the moment they make payment. UX is one of the most important considerations you can have for your site – without it, your business could stand to fail. As Head of UX and Product at Ozow, Justin Evans says, “It’s no longer the type of product that is important, it’s how the user experiences it.”
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