Boost Shopify Sales: Optimize Conversion Funnel for 5x Growth

My Shopify store used to convert at 1 and 1/2% which is pretty average until we made one change and it now

converts between 5 and 6% without running any discounts. That's like a 5x increase in sales with one single

change. And the funny thing is that change wasn't like a a new theme being applied or redesign of the store or even

installing any apps. What we did is we looked at our conversion funnel. We identified the one part of the funnel

where customers were falling off and we fixed [music] that one thing. So this video, I'm going to show you how to

analyze your conversion funnel and give you a list of things that you can do to fix each stages [music] of that funnel

so that you can double your conversion rate with hopefully just one change. Let's go. But before we get into the

tutorial, I want to share a little insight [music] with you. Did you know only 22% of people that watch my videos

are actually subscribed to the channel which means when [music] I release brand new topics like this, most people aren't

getting notified. So if you want to be ahead of the game, learn about AI and Shopify before anybody else, make sure

you subscribe to [music] the channel straight away and you won't miss any tutorials. Let's get started on this

one. Most store owners when they think about conversion rate just think about that conversion rate number. When in

fact that conversion rate number is made up of a number of different metrics and it's those metrics that we need to

influence to improve our conversion rate. Let me break it down for you. When someone comes to our store,

they visit our store and we want them to do a few things and ultimately when they do those things, the goal of this is to

get them to buy from us, okay? So we want to take them from visiting our store through to buying. But in order to

do that, they need to go through a few stages. The first thing we want them to do is view our products. That's the

first stage of the journey. Once they viewed our products, we want them to take action and this is the

first metric that we measure and this is the add to cart percentage, okay? So that's the first metric. We want to get

them to viewing the product to adding to cart. It shows intent. When they add to cart, the next stage we want them to go

to is we want them to go to the reached checkout stage and that's called our reached checkout percentage. So we want

to drive them down this conversion journey. When they reach the checkout, the next thing we want them to do is we

actually want them to convert, okay? So this is the conversion rate funnel. So in order for us to actually increase our

conversion rates, we actually need to increase these metrics first so that customer converts at a higher rate. Now

that we know which way a conversion rate works, what we now need to work out is which one of these numbers do we need to

focus our attention on? And in order to do that, I'm going to give you some benchmarks so that we can assign those

benchmarks to your actual numbers going to tell you exactly where to focus your attention. So from an add to cart

percentage, we want that to be between 8 and , okay? That's it. That's the benchmark for add to cart percentage. So

that means that all the visitors that come to your store, at least 8 to 10% of those visitors should be clicking the

add to cart button. Then the way we break down the funnel from there is we drop this number by 50% as we go through

to see whether we've got a really nice tight funnel. So 8 to 10% for add to cart, 4 to 5% for reached checkout. And

if that all works, then we're going to hit an average conversion rate of 2 to 2.5%, okay? So that gives us a 2.5%

conversion rate. So these are the benchmarks that we do for an average of a 2 and 1/2% conversion rate and when we

look at the majority of Shopify stores, they're jumping anywhere between 2 and 3% on average, even some of the biggest

brands in the world. So what we now want to do is we're going to go into Shopify and I'm going to show you where to find

these numbers so you can see how your numbers compare to these benchmarks. To find these within your Shopify store,

we're going to click analytics over here on the left and it's going to bring up the default dashboard. In the default

dashboard, there should be a widget here which is called conversion rate breakdown. This is where we get all the

data from, okay? So as you can see, this matches what we talked about just a second ago. We've got 100% of the people

that visit our store is the sessions, right? Then we have our add to cart percentage which is 9.76 for this day.

That is between the 8 and 10% that we talked about. Now this is where we talk about the 50% drop off to see where the

real gap is. So 50% of 9.76 is just just under 5%. So anything above 5% here is where we're within benchmark and we can

see our reached checkout percentage is 6.9%. Then 50% of that would be what's

you know, 6.9% so that's 3 and 1/2 would be would be 50% of that and we can see we're 4.8. So we're well above what our

benchmarks are and that's why we're sitting at this 4.8%. And now what I want you to do is look at these on your

store and determine which one of these numbers is not within benchmark or has a huge drop off, right? So if you don't

hit the 8 to 10% or the you know, the 4 to 6% here or the the 2 to 3% here, then that means that it's not hitting

benchmarks. Or if we're seeing the drop off here is really great, then we want to look at that. So I want you to think

about what's the one that if we change it would have the biggest impact on this conversion rate number and that's your

one metric. And now what we're going to do is I'm going to give you some things that you can do to make that metric go

up, okay? And to make it easy, what I've got is a checklist here that I go through when I have these problems and

it's the same one that we share inside our academy. Uh you can get a link to this down below so you can just uh use

it yourself. Once you've determined what your metric is, we've now got the sections here that tell you what you

need to work on for each one of those metrics, right? So if you're going to work on your add to cart rate, then we

just look at this section. We know what our averages are but we know what our target's going to be and then in here,

I've got a list of things that you can actually do on your store to make it better, okay? We can do product page

layouts, we can look at our conversion signals, we can look at our offer and pricing clarity, mobile experience. But

what you can see is actually checklist of items here that if you implement these, your add to cart rate has no

chance but to increase, right? These are all tried and tested things that we've done on all of our stores. Okay, and

then metric two, where it's getting people to get to the checkout. What are the things that are holding people back?

So if we go through some of the topics, it would be cart page friction, you know, remove navigation links from the

cart page, reduce the number of steps. Could be a shipping cost that's stopping them from going to reach checkout. It

could be they don't trust you when they get there. Like do you have any trust signals? You could even just do some

abandoned cart recovery to get them to come back later, okay? And I've even put some tips and stuff in here.

Now if you've got people to reach checkout and they still haven't converted, then we've got some more

things that we can do here, you know, improving the checkout page, you know, is there different payment options? What

are your confidence signals on your checkout? What's your post checkout recovery, okay? So there's lots of

things here that you can do to help increase your conversion rate. But the first thing you need to do is identify

which one of these do you need to work on and just work on that one thing. So that checklist is down below. Make sure

you grab it, print it out, do whatever you need to do but go through every single item to improve one single metric

and you'll see your conversion rate increase. And then the next thing you can do to increase your conversion rate

is watch this video. It's really going to help you.