Goodbye conversion rate: Product pages are heavily neglected
Our analysis shows that 88% of companies are failing when it comes to creating a convincing value proposition on their product pages. Almost 75% don’t show customer reviews and a fifth aren’t effectively upselling. These failings – and others – are keeping average order values and conversion rates unnecessarily low.
Too many companies underestimate the value of the product page.
Whether it’s the first page of the customer’s journey or the last page before checkout, an informative and inspiring product page with a clear value proposition is a must.
It supports the customer’s need for information, provides incentives to buy, encourages them to journey further on the site, adds credibility, and increases conversion.
In this era of advertisement on social media and Google, the product page has become the new landing page. If you don’t provide customers with sufficient information, you can forget about the sale,
The basic product page
A depressing 88% of Scandinavian companies fail when it comes to creating a convincing value proposition on their product pages, many don’t tell whether they offer click-and-collect, and others don’t show related products or provide customer reviews.
Still, when looking at the Scandinavian product pages, they lack many of the basic elements.
Do not use the product page to up- or cross-sell
Do not have strong product data on the product page
Of retailers and brands with click-and-collect do not show the service on the product page
Do not have customer reviews on the product page
These things are basic requirements for today’s product page. They’re not nice-to-haves, they’re must-haves
The frontrunner: Sweden
Looking more closely at each country there are obvious national differences.
Sweden is by far the best. 21% of the Swedish retailers and brands have a product page with the basic elements. For Denmark, the same number is 10% and 6% in Norway.
While most Danish companies show click-and-collect on the product page, most Swedish business has implemented the other elements.
72% of the Swedish businesses use product data at a professional level while only 59% of the Norwegian and 63% of the Danish retailers and brands do it.
For all countries, it is time to give the product page a critical review. It will only become more important and the gigantic pure-players are at a total other level when it comes to take advantage of the product page.
An obvious upselling tool
From an omnichannel perspective, features such as ‘related products’ are an obvious way to upsell and cross-sell in order to increase the average order value and basket size.
Clearly marking click-and-collect service, delivery time, and the opportunity to check if the product is available in the local store etc. motivates the customers to visit the physical store.
And when it comes to good product data and information, too many retailers don’t know (or prioritize) the elements of a strong value proposition. The value proposition is the reason people should buy from you. It creates incentives, remove barriers, show customers how the product makes their life better and easier.
It’s all about increasing your conversion rate optimization and understanding your customers. Many companies apparently don’t prioritize that…
Of companies are failing when it comes to creating a convincing value proposition on their product pages
the cheapest and most valuable investment
Using compelling text, pictures and video to show what the product is, what is does, how it is used, what it looks like, how it compares/differs from similar products, and how it is rated etc. helps customers make informed decisions.
It increases conversion, lowers return rate, and decreases the number of questions for your customer service. When sales are low, most companies create new campaigns, increase their adspend or lower their prices. That’s all money out of the window.
Optimizing your product page and product information is one of the cheapest and most valuable thing you can do for your business. Yet 88% of companies apparently still don’t get it…
12 ways to increase conversion from the product page
- Use high-quality product images and videos
- Add trust badges and statements
- Leverage psychology
- Include customer reviews of products
- Remove the clutter
- Improve site speed
- Use FAQs to educate and overcome objections
- Zero in on your value proposition
- Make mobile conversions a priority
- Write compelling product descriptions
- Add social proof
- Use the scarcity principle