:: By Leon Pagan, Broadband Search ::
Achieving success for your e-commerce business revolves around three vital factors: convenience, relevance and trust. Apart from the technology used, one has to give due emphasis on usability and user influence. Building an effective solution with an optimal combination of all these factors translates to high performance, which is what lays the foundation for success.
While brand recognition is an integral aspect that dictates the conversion rate, for smaller online retailers with apparently no brand value, the target lies elsewhere. Studies conducted by some of the leading market research organizations have revealed that consumer security concerns act as the main hindrance for smaller businesses to improve their conversion rates. The skepticism on the part of the consumers to indulge in business with the less reputed e-commerce retailers arises due to the impression that the retailers are not doing enough to protect their customers online.
The need of the hour is to build a sense of security among the consumers about the authenticity and intent of your business. To shatter the credibility barriers, the businesses must make substantial trust building efforts to convince the consumers that their websites are safe to make financial transactions and the information provided by the consumers are being handled in a secure manner.
As the instances of online forgery touch an alarming high number of people, it has become crucial for modern-day consumers to feel secure before making any financial transaction. SSL certificates can go a long way in convincing the prospective consumers that the transaction process is safe and secure. So it doesn't come as a surprise to know that e-commerce experts unanimously consider showcasing the 'trust' of SSL certificates as one of the most effective ways of improving the conversion rate.
Let's now drill down to the minute details and find out how exactly SSL certificates impact the behavior of buyers and boost the conversion rate for your e-commerce business.
1. Secured Consumer Data
SSL is used to secure all forms of consumer data which they share with the vendors. For tech-savy customers, the padlock icon with HTTPS in the address bar is an essential prerequisite for entering login credentials, credit card details, personal details and other sensitive financial information. If the consumers believe that a vendor is doing everything possible to secure their transactions, then they are more likely to do business with them.
2. Visual Trust Indicators
Cautious shoppers are always worried about online shopping security. The appearance of security trust marks on a website is essential for them to make a purchase. Visual security assurance not only improves the consumer trust, but also reduces the frequency of shopping cart abandonments.
Most of the SSL certificates purchased from prominent vendors show 'Trust Badges' on your website. Logos like GeoTrust, Truste or VeriSign essentially create a sense of security in the minds of consumers. Today's Web-savvy crowd is used to seeing certain trust badges on the most popular e-commerce websites and when your website carries a similar seal, it enhances their confidence to do business with you. Researchers have found conclusive evidences that SSL security logos add a perceived level of credibility, which does have a direct and noticeable impact on your conversion rate.
3. No Third-Party Involvement for Transactions
In the absence of SSL certificates, vendors often need to integrate third-party transaction functions to their check-out pages. It causes great inconvenience for the buyers as they are made to move back and forth from your website to the third-party website to complete any financial transactions (like PayPal). It may force the consumers to rethink about their own security and subsequently abandon the purchase plan. To avoid such occurrences, e-commerce ventures should ideally implement their own SSL certificates and complete the financial transactions securely within their own websites.
4. Enhanced Search Engine Presence
While building backlinks and creating SEO-friendly content may take quite some time, getting an SSL Certificate can immediately enhance your presence on popular search engines. With Google's latest algorithm designed to encourage a safer World Wide Web, the sites using SSL are being given preferences in the search results. With better search engine ranking, your website would rank higher in the search results. It will help you in attracting a higher number of organic visitors and improve your conversion rate. So it won't be a bad idea to invest on an SSL certificate and provide your e-commerce venture with an essential dose of SEO boost.
The Bottom Line:
As the competition among e-commerce retailers becomes increasingly fierce, individual businesses are facing greater hurdles in convincing the consumers of their credibility. You, as a business owner, need to show the consumers that your business is just as interested in safeguarding their sensitive data as they themselves are. And one of the best ways to do that is through the SSL certificates. A small investment can have a meaningful impact on your conversion rates and help you generate more revenue from your potential customers. So what are you waiting for? Go grab your SSL certificate at the earliest and enjoy a definite edge over your competitors.
About the Author
Leon Pagan is a blogger, geek and lover of all things related to business, technology and innovation. Leon is currently working as consultant writer for Broadband Search, a site that is super simple to use and great for finding the best Internet and TV plans in your area.