How does social proof influence your store's conversion rates?

[marvic]

Hi,

this is a general discussion and I'd like to get some feedback from other store owners on how their conversion rate developed over time.

We've launched our shop about half a year ago and we convert around 1% of visitors, which is not optimal. We do have some return customers who help boost this number as well. New visitor conversion rate is even lower than 1%.

We are in a very competitive market, we are in a mid-price segment in comparison to our competitors (for the quality we offer hands down the best price, but customer have to buy the product to experience it first hand). We collect product reviews, but only like 1-2% of customers leave a review (we already incentivise, but could definitely be improved).

What is the opinion of some seasoned shopify store owners? I love to tell myself the story that conversions will increase with social proof (having 100s or 1000s of good ratings is most certainly better than 1-10 per product, but we gotta start somewhere right? and we don't want to put up fake reviews.). I am not saying there is nothing else that could be improved, but do people see increased conversion rates with better social proof? This probably goes hand in hand with more brand awareness and return customers as it takes time to build social proof?! Asking the other way around: can a shopify shop without any social proof be set up to be highly converting (excluding a price war, offering the cheapest product probably still pulls more customers?!).

[MilesWeb]

If you are confused between choosing social proof or not, then we would suggest that this factor boosts the trust and credibility among potential customers. Now let us share some examples of the leading brands having G2 ratings, TrustScore on Trustpilot and Google reviews.

Why are they?

It is simply because visitors will look at the feedback of customers before buying your services/products.

Here's how you can create a sense of urgency through social proof:

• Highlight limited availability: Showcasing the limited availability of your product or service can create a sense of urgency and encourage people to act quickly.
• Display the number of items sold: Incorporating the number of items sold or the number of items remaining in stock can help demonstrate the popularity of your product and create a sense of scarcity.
• Showcase social media mentions: Highlighting social media mentions or posts from customers can help create a sense of urgency by demonstrating the popularity of your product in real-time.

[Jeff-StoreSpare]

Hi @marvic, 

Thanks for initiating this discussion. Developing conversion rates over time can be quite the journey, especially in competitive markets. Your dedication to collecting feedback and striving for improvement is commendable. 

it's essential to complement social proof with other strategies. Improving brand awareness, providing exceptional customer service, and optimizing the overall shopping experience are equally vital. Personalized communication and targeted marketing campaigns can also help nurture relationships with customers, leading to higher conversion rates and increased loyalty.

However, In terms of increasing conversions, social proof plays a significant role. While it may take time to accumulate a substantial number of reviews, every positive one adds to your credibility. Tools like Iconic Sales Pops  can further enhance this by showcasing recent purchases and reviews to potential customers, creating a sense of urgency and trust. 

Remember, there's no one-size-fits-all solution. Continuously experimenting, analyzing data, and refining your approach based on insights will help you achieve sustained growth. Best of luck with your Shopify Store.

[Crowly]

Social proof and word of mouth are very powerful levers. But this takes time + a great product. Until then,
A couple of thoughts.

• Ensure you are optimizing for conversions on your ad platforms. If not, your visitors' intent-to-buy will be much lower.
• Make sure your checkout is functioning correctly

If you're interested, I just launched my free Shopify app Crowly. It'll allow you to generate and optimize your products' pricing and descriptions very quickly. You should see improved conversions after about 300 product page views.

https://apps.shopify.com/crowly

If you have any other questions or need help with the app, feel free to shoot me an email. I’m at your service.

☺

All the best,

-Ethan