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The biggest opportunities for cannabis businesses to improve digital experiences in 2023 that lead to increased revenue focus on fixing what’s broken on their websites. This applies to both B2C and B2B businesses, and data from Contentsquare’s 2023 Digital Experience Benchmark Report provides a blueprint for how cannabis and ancillary businesses can get started.
3 Critical Website Performance Factors That Lead to More Conversions and Higher Revenue
Contentsquare’s research zeroes in on the most important digital key performance indicators (KPIs) that drive growth and how those KPIs affect the digital experience for consumers and consumer happiness. The researchers analyzed 161 billion page views across 35 billion sessions. In total, 2,942 websites in 26 countries were included in the study.
The researchers found several key correlations between visitor behavior on business websites and conversions/revenue. Let’s take a look at three that are highly relevant to cannabis businesses as well as fairly easy to improve.
1. Length of Time Visitors Spend on Your Website
When someone lands on a page on your website, how long do they ultimately spend visiting one or more pages on your site? The longer the visit, the higher your conversion rates and revenue will be based on the data.
Specifically, the researchers found that sites with higher activity (i.e., people spend more time on the site during a visit) see conversion rates that are 19% higher than sites with lower activity.
What does that mean for cannabis businesses? If your website is slim on content, focus on adding more! Just make sure the content you add is useful, meaningful, and relevant to your target audience. The goal is to keep them on your site longer, not annoy them with content that makes them want to click away.
2. Page Load Speed
How long does it take for your website pages to load in a visitor’s browser? It makes a big difference in how long people stay on your website (if they don’t abandon it immediately). The shorter the page load speed, the higher your conversion rates and revenue will be according to the research.
The researchers compared results for pages that load in less than one second vs. pages that take more than two seconds to load. The results showed that pages with a faster load speed saw an 11% decrease in bounce rate (i.e., instant abandonment). Faster loading pages also led to an average of 1.2 additional page views per session, which increased conversions by 25%.
Bottom-line, it’s critical that the pages on your website load in less than one second if your goal is to maximize conversions and revenue. There are many tools available to test page load speed, including Google’s PageSpeed Insights, which provides speed data for both mobile and desktop.
3. Obstacles
Are there obstacles built into your website that are disrupting the user experience? The answer is most likely yes, and you probably don’t even realize it.
The researchers discovered 36% of web visits cause frustration. That’s more than one out of every three visits! The top five causes of frustration are:
- Slow Page Load: Visitor waited more than three seconds for the page to load.
- Rage Clicks: Visitor clicked a page element at least three times in three seconds.
- Multiple Button Interactions: Visitor clicked a button on a page at least three times.
- Multiple Field Interactions: Visitor clicked a field at least three times.
- Multiple Use Target: Visitor clicked an element on the page at least three times.
Each of the frustrations listed above relates to a delay and/or a feature not working the way it should. The good news is you can fix these problems on your website and eliminate the frustrations that come with them!
Opportunities
In addition to fixing the performance factors listed above, the report offers some recommendations to seize opportunities by making adjustments to business websites. Below are the best opportunities for cannabis and ancillary businesses to invest their marketing budgets.
Update and Test the Most Important Pages
The data shows buyers typically consume more than 20 pages on each device before converting, and the most important pages in the customer journey are the product detail pages and the category pages.
Therefore, when trying to decide where to start analyzing and changing your website, these pages should be at the top of your list.
Analyze Content Performance and Move Overperformers Higher up on Pages
According to the Contentsquare report, most web visits include five pages per session, and during those sessions, visitors typically only scroll down half of a page (50% scroll rate on desktop and 48% scroll rate on mobile). With that data in mind, it’s crucial that the most compelling content is high on each page and the call-to-action is above the fold.
The researchers recommend using zone-based heatmaps to identify over- and under-performing content, so you can make adjustments and build pages more effectively.
Key Takeaways
Many businesses invest in getting people to their websites but very few invest in keeping people on their websites once they arrive. However, the data clearly shows longer visits lead to more conversions and revenue. In other words, investing in a better digital experience on your website will drive business growth.
With that in mind, your next steps should be to create more valuable content, make sure there are no obstacles built into the digital experience, and test your pages to ensure people see the most important information without having to scroll a lot.
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