Conversion

E-commerce has emerged as a highly adapted concept in the fast changing world that
is now run by technological advancements. This has proven to be a groundbreaking
development and after several trials since the dot com boom, only around 2012-2014
have online businesses bloomed in the market pacing economic growth nationwide.
Many businesses have converted themselves online and plenty others have originated
online. The drastic development surely makes it look extremely easy. That is not,
however, the end, but the beginning of the challenges associated with the online
business growth.

After setting up a website, an app, or a social media page to initiate business online with
a pleasant interface, that is when the business is ready to enter the market to negotiate
with its forces. For Trendex, after setting up a business strategy, outlining a web store,
displaying product pages, and aiming for marketing efforts, we were confronted with the
biggest challenge. Like any visitor entering a physical store doesn't ensure purchasing
behavior, neither does click visits in online websites. In an age of easily available
internet, clicks and website visits are not a measure of business performance at all, it
only measures the online reach. However, to convert such visits and leads into sales is
the main goal.

Conversion rate defines the number and rate of visitors dropping by the website or page
that are being successfully convinced into the company goal of action. For example, if
we would like to increase awareness and reach, we would only need the conversion
rate to be of people who share and react to our posts of products. If our goal is to
generate sales out of the conversion strategies we invested in, like designing an easy
website interface, then the ideal outcome would be for customers to make purchases
online. Conversion is a concept that can suggest a range of motives as per a company’s
business and industry aims or targets, basically, based on any indication that suggests
that a user is advancing towards taking a valuable action.
To enlist the most common categories of conversions and micro-conversions that
Trendex has aimed for are as follows:

● Purchasing
● Contact through inbox, phone call or email
● Following our social media pages on Facebook and Instagram.
● Signing up for an account in our website
● Saving or taking a screenshot of a product post (traceable in websites only)
● Repeating a purchase
● Engaging in some other way, for example, collaboration advances by influencers
or mentions/tags by real customers in instagram stories

Examples representing conversions are as follows:

● Subscribing to emails or updates about what's new in the page. This way, the
customer consents to the persuasive and informative marketing that the
company uses to engage.
● Searching for the page or website in search engines. This improves the reach
and indicates customer interest.

● Adding to the cart is a click of high importance. In analytics, this stands as

a measure of consumer’s willingness to purchase the product. The cart is
a place where customers keep track of what they have liked so far and
what they want to buy. Sometimes they make choices from the options
and sometimes they purchase it all.
 ● Completing the checkout is the end game. This indicates the conversion of
one lead into sales, fulfilling the purpose of the system development that
enables customers and sellers to establish a successful and convenient
market place online, saving the costs of both sides, including
transportation, time, physical store management, etc.

Especially in an all retail-outlet store, it is integral to the business for the goals to be
met. Conversion doesn’t easily take place, it is an outcome of skilled optimisation.
Conceptually, conversion rate is a key metric that helps develop measurable and
important insight into the improvement of the business or their campaigns.

Conclusion

Although the idea of TrendEx is relatively new in Bangladesh, competition still exists
directly and indirectly owing to the boom of online businesses. Hence, it is important to
make sure that the right marketing mix accompanying the system design enables the
company to reach its targets. Alternatively, there is still a huge proportion of the
population who still shop from the physical stores of brands that we have collaborated
with. This group is still skeptical about online shopping for issues associated with trust
and reliability. As a completely consumer-oriented business approach running online for
the optimum convenience of the target market, the primary objective of TrendEx lies in
people finding the comfort of clothing and accessories shopping through near-to-life
shopping experiences. The added benefit of this business model is that, unlike other
new e-commerces or existing businesses converting into e commerce, TrendEx is a
collaboration of a retailer and multiple other brands that are already operating in high
scale and commendable sales. Now, it is an opportunity for the existing and the new
customers to reach such brands along with more other options to choose from in online
platforms. Therefore, the sole purpose of development for TrendEx is only about the
website and business pages in other platforms- about promoting the product line and
making it more accessible and convenient. The rest of the functions of manufacturing,
supply chain, management, everything else lies within the territory of individual brands.