CRO stands for conversion rate optimization. It’s all about doing the necessary practices to make people more inclined to make a purchase at your Lazada/Shopee store.
Due to the importance of conversion rate, we highly encourage that you monitor your CRO scoring as well. The latter basically means the constant measurement of how effective or ineffective your conversion rate optimization is on average.
What Does It Mean To Optimize For Conversion Rate?
Is it really that important? Before we begin to answer that question, let us first explore what it really means to optimize your Shopee/Lazada store for conversion rate optimization.
Take this as an example. When you want to sell something in the marketplace, you simply create a product listing, enter the minimum information needed, and then publish it on the platform.
But if you want to get better returns for your product, what you do is optimize that product listing. What that means that you will go beyond just entering the basic details of your product. There are some basic tasks that you need to do such as researching for good keywords and placing them all over your product listings. You need to make your descriptions accurate and descriptive at the same time to encourage better sales.
Another example of optimizing product listings for a better conversion rate would be to take high-quality product images. Some sellers go up to the point where they set up an actual mini studio so the photos actually look professional.
That’s just some of the example conversion rate optimization. For a more in-depth discussion on these topics, you should check out The Ultimate Guide to Shopee Conversion Rate Optimization or The Ultimate Guide to Lazada Conversion Rate Optimization.
The Consequences of A Failed CRO Process
Some people see online selling as the simpler route to entering sales but even when you start a business through Lazada/Shopee, it doesn’t give you the results that you were expecting.
If you start an online business without focusing on CRO, these are the consequences:
- No one will buy the product
- If someone buys the product, it will happen rarely
- There will be little to no growth for the online business
- Sales movement will be slow
You can probably sell something online without CRO if you only want some quick bucks or if you already have a group of people whom you know will be interested in buying. But if an actual business venture is what you had in mind, just think of CRO as one of the foundational elements of your business.
Here’s another analogy that can emphasize the importance of CRO in your online store: sales talk is to face-to-face selling whereas CRO is to online selling.
Why Should You Do CRO?
These are the benefits of optimizing your online store for conversion rate:
- Increased sales
- Higher potential for business expansion
- Sales will be distributed equally among all products (in some cases, a seller gets many sales for one product and would have little to none for the rest of his products)
- You equip your business for long haul operation
What Factors Impact Conversion Rate In Shopee & Lazada?
Even though Lazada and Shopee are different from each other in a lot of things, they share similar factors when it comes to what impacts the conversion rate. We’ll just name a few of them that you, as a seller, can control.
- Pricing competitiveness
The main reason people prefer to shop online is that they expect to save a bit of money from it. With that, it only makes sense that products with the lowest price at the highest value wins.
Online shopping has had a rep of leaving some customers dissatisfied with their purchased products due to product images not accurately matching the actual product. Reasons for dissatisfaction can also vary but you have the power to impact what impression you leave your customers. If it’s a positive one, it will surely encourage buyers to leave a good review on your PDP which will inevitably encourage more people to buy from you.
- Appealing main images.
As mentioned, you should be careful in adding images that do not accurately reflect the actuality of your product. But at the same time, you should do your best to take product images that are attractive and professional. These images hold an influence as to whether a user is converted into a buyer.
- Clear product description.
Since customers don’t have the luxury of checking the product out in its physical form, it would be a great idea to provide your PDPs with an accurate and reader-friendly product description.
Do not exaggerate the benefits. Write the description in a way that it can reflect into the day-to-day struggles of potential buyers.
- Clear product title
You can think of your product title as a sort of a shorter version of a product description. When a buyer searches for a product, he will select a PDP that most reflects the product that he needs. Therefore, be choosy with your words when thinking of a product title.
The best advice we can give you here would be to do some keyword research so that you can place exact terms in your title that customers are looking for.
Check out our post on Keyword Research – How To Find The Best Search Terms for Lazada and Shopee.
- Additional offers (vouchers, bundles, free shipping)
The way to keep your conversion rate up would be to encourage people to make a purchase. Simply keep them engaged. You can do that by making customers feel like they are getting the most value when they purchase from your store. This can come in the form of providing vouchers, bundles, free shipping promos, and stuff like that.
- Competitor Status
This is a minor factor that we’d like to add here. When you sell online, it’s not just between you and your prospects. There’s someone in the middle and that someone is your competitor.
Being right in the middle of things, if a competitor has better prices than you or better product descriptions, the customer will buy from him instead of you.
With that, while you care for all the other conversion rate factors we listed here, you also need to be mindful of where your competitors are currently at.
Competitor intelligence or competitor tracking has become a vital aspect of conversion rate optimization.
But it’s not easy to do and it will demand a lot of time on your end. If this is something you are interested in trying out, we have a proposition for you.
Why not give Split Dragon’s 7-day free trial a go? In this one week, you will be able to gain access to all of our software’s exclusive features including the competitor intelligence tool. You will be notified whenever changes are made at the end of your competitor products and competitor stores. Data will be provided as well for your reference and future actions.
Want to learn more about competitor intelligence? Check out our post on Competitor Intelligence – How to Track Lazada and Shopee Competitor Stores & Products
Where Can You Find Your CRO Score?
It takes a lot of technical work to arrive at a formula that will get you your CRO Score. Fortunately, there’s a tool that makes it a lot easier.
Split Dragon is a software that helps you automate most of your SEO and CRO processes within Shopee and Lazada.
Apart from features such as AB Testing, IP Protection, or Market Research, Split Dragon also tells you your store’s CRO scoring.
With that, you will be able to tell your positioning as far as the conversion rate goes. This can serve as a good baseline for you to improve and enhance your sales.
How is Split Dragon’s CRO Scoring Different Than Lazada’s Quality Score?
The first time you’ve published a product listing on Lazada, you may have noticed a quality score illustration that increases or decreases as you finish entering the details in your product listing.
We believe it’s important to know the difference between your CRO scoring and Lazada’s quality score.
Lazada’s scoring system basically measures how well you’ve crafted your product listing. Once you’ve reached a score of 50, you will have permission to publish the listing. On the other hand, you can also try to move the score up to 100. This means that your product listing will have a better chance of converting into sales.
Meanwhile, knowing your CRO scoring gives you a measurement that reflects your entire store. The scoring will be based on your product listings, pricing, vouchers, listed competitor store, and competitor products, among others. The CRO scoring is automated to change periodically so that you can accurately assess where you are in terms of your selling performance.
To excel in online selling, a bit of skill towards playing with data is needed. Split Dragon gives you the necessary tools to make that happen. If you have questions, we’d love to hear from you in the comment section or through our customer service team.