The secret to increasing product detail page conversion rates

The secret to increasing product detail page conversion rates

The secret to increasing product detail page conversion rates

Any retailer is well aware of the fact that product detail page conversion rates are a key measure of an online store’s effectiveness. Yet how effective are product detail pages in actually achieving desired engagement and conversion rates when serving as landing pages?

Product detail pages underperform compared to landing pages

If recent research is any indication, product detail pages underperform compared with landing page benchmarks, specifically in the following sample respects:

  • Online store visitors accessing a product detail page directly are half as likely to purchase items as those entering the site through general landing pages.
  • Product detail pages accessed directly are less effective than landing pages at generating engagement, resulting in increased shopper bounce rates and relatively few consequent page views.
  • Overall, visitors who land on product detail pages convert at nearly half the rate of those who land elsewhere.

Why do product detail pages underperform so badly
compared with other landing pages

Well, one has to realize that these pages aren’t designed to be the front line of engagement to begin with, with visitors often expected to get to them only after having been to the online store’s home page, and after having searched and zeroed in on specific items of interest. Product detail pages are the final retail decision-making point, at which visitors ask themselves that toughest of questions – whether or not they should and actually want to purchase a product. If that question is delivered to them too early in their engagement journey, before they’ve had a chance to browse around and take in all the information they feel they need, their answer may not be the one the online retailer is hoping for.

When, by contrast, visitors start out on pages higher up the online store’s navigation structure – such as the home and product category pages – they’ll typically be exposed to a greater wealth of background information and context than that offered by specific product detail pages. This effectively enables would-be customers to develop a better feel for whether or not a particular brand or product is the right match for them. This is likely to increase their conversion rates when finally arriving at that product’s individual detail page.

Boosting conversion rates through increased product page engagement

The key objective should therefore obviously be to ensure increased engagement on individual product detail pages. The secret to achieving this may lie in retail optimization solutions featuring machine learning and behavioral economics-driven incentives.

Effective retail optimization solutions can encourage customer interaction and positively impact shoppers’ buying decisions at each and every step along their purchasing journey, whether accessing an online store through standard landing pages or directly via product detail pages. Such solutions can track both historical and real-time shopper behavior and gestures, for example, and apply AI and machine learning to determine their price elasticity and likelihood to purchase. They can then leverage this intelligence to trigger smart, personalized incentives that encourage interaction at the most critical point of purchase decision-making, and ultimately help minimize cart abandonment and page bounces, and increasingly convert visitors into valuable shoppers.

To learn more about the impact of behavioral economics on marketing, and for a demonstration of how creative retail marketing organizations can leverage the fundamentals of behavioral economics, be sure to download Personali’s “Behavioral Economics as a Key Marketing Driver” eBook.

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