Efficiently converting online traffic into tangible sales is a significant goal for businesses. This guide focuses on the practical application of the SPU (Single Product Unit) conversion funnel, a powerful tool in identifying and optimizing products within your digital store. We aim to provide insights into recognizing items that draw substantial traffic yet fall short in conversion rates and offer actionable strategies to enhance their performance.
Understanding high traffic but low conversion scenarios
Products with high page views but low conversion rates indicate a gap in turning site visits into sales, leading to wasted traffic. By viewing the SPU conversion funnel, you can identify these products and refine your strategies. This helps enhance your store's conversion efficiency and make the most of the traffic.
Let's explore the underlying causes and potential solutions:
Causes of high page views:
- Elevated customer interest
- Strategic product placement
- Intensified advertising efforts
Causes of low conversion rates:
- Incomplete or unclear product descriptions
- Misaligned pricing strategy
- Attraction through ads without genuine product need
Strategies to enhance conversion rates:
- Refine product details to improve clarity and appeal
- Deploy effective marketing tactics
- Utilize product recommendation tools to redirect traffic towards high-conversion items
- Adjust product ranking and advertising strategies, giving priority to products with higher conversion rates
Analyzing the conversion funnel report by SPU
1. From your Shoplazza admin > Analytics > Reports, click View sales by SPU under the Sales section select View sales by SPU.
2. Select your desired time range.
3. Use the Edit header option for additional data columns.
4. By default, products are initially ranked by user traffic; identify those with lower conversion rates.
5. Access detailed product pages by clicking on the product title, checking for factors affecting conversions.
6. Use View chart to analyze the product's conversion funnel, identifying and addressing key drop-off points.
Spotting low traffic but high conversion opportunities
Conversely, some products might exhibit high conversion rates but suffer from low visibility. This pattern suggests that these products have significant appeal but are not adequately marketed. By analyzing the SPU conversion funnel, you can identify these under-the-radar items, potentially unleashing untapped sales and profit opportunities.
Causes of low page views:
- Unattractive product titles or imagery
- Low search or display ranking
- Insufficient advertising
Causes of high conversion rates:
- Definite customer demand
- Competitive pricing
Strategies to capitalize on high-converting products:
- Enhance titles and images for greater engagement
- Improve product visibility through ranking adjustments
- Employ targeted advertising to boost traffic
Identifying underperforming yet high-converting products
1. From your Shoplazza admin > Analytics > Reports, click View sales by SPU under the Sales section.
2. Choose the appropriate time range.
3. Opt to Edit header for additional data insights.
4. Arrange the display to sort by user conversion rate, high to low.
5. Identify products with limited browsing volumes.
Leveraging the SPU conversion funnel is a strategic approach to understanding and enhancing your product's performance. This tool not only aids in detailed data analysis but also guides informed decisions, ultimately steering your business towards success.