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There are plenty of other factors that could help increase your conversion rate. You should scroll through this forum and read some of the previous threads. You might get some ideas.
Once you have that data you can determine how "targeted" your traffic is. You want to reach the visitors that would be interested in your product. Where is your traffic coming from now? Search Engines are about as targeted as it gets online. Second best is advertising on websites where people who would be interested in your product visit. Without knowing the product I can't really make any suggestions on that.
The next thing you'll want to do is take a look at the site itself. Think of yourself as the buyer - would YOU buy from you? Does the site look like you're a real business, or some basement operation? The visitor has to feel comfortable in the sense that they're going to get what they pay for. Are your prices reasonable, too low, or too high? (Having a price that's too LOW will hurt you too because people wonder what the catch is or if you even have the product). Having no payment option other than PayPal, for example, is a turn-off for many. The fact that anyone can get a PayPal account within a matter of minutes with no verification or screening is something a lot of people avoid.
Also check the wording on your site. Obviously you'll want to have good spelling and sentence structure, but HOW you say things is equally important. Ever gone to a site before where as you read you wanted to buy the product, even though you had absolutely no use for it? That's good marketing text ... there is a book called Mind Control Marketing that teaches you how to phrase things fairly well to make people want to buy.
And last but not least, if you're in the USA, there is also what I like to call the "Wal-Mart" equation. If you're selling products that people can get at Wal-Mart, the majority will buy it there instead of buying it online. The reason is because nearly everyone goes to Wal-Mart once in a while or at least has a general idea of what they sell. It's much easier to buy a product from a place that's right up the road, even if it's a dollar or two MORE, because you get it in your hands immediately. The simple fact is that local commerce continues to exceed Internet commerce because it's easier to buy it (and return it) locally.
NO, I would not buy from me, the site looks like someone with NO experience put it together and posted it (which is true, I did)
NOW, I have been talking to folks, but it seems that making this site buyer friendly will likely be expensive. Can you make any reccomendations concerning what should be done first, etc. I can send you the URL in a sticky mail if you like, but don't want to appear to be marketing my products here.
If you want an example, look at jcrew.com and imagine how much the site would suck if the photos weren't spectacular.
ps I wouldn't bother sinking big bucks into a redesign until you know enough about the site that and how it and your customers work that you can tell the designer what should be done and why. My experience is that most of them don't know jack about e-commerce and need well informed input from the client for the final product to be good.
pss I love being critical. Sticky me your url and I will take a look at your site.
It really depends on:
1. Identifying the complete and full needs that your customer has when coming to your website. Do not just assume you know them all.
2. People rarely browse as much as they just want a specific product, how do i find it, where is it located. How many steps do i have to take to get there, before i get bored and move elsewhere.
3. Good and Solid Navigation and Search Engine will combine to make it easy for customers to find what you have to offer. As long as that is what they are looking for.
4. How do you get your customers involved? to review, to care about your products or services.
5. How do you differentiate with your competitors, and price is not as good a differentiater, you must have something more, in personality, style, usability, some edge that makes you the place i must go to find what i am looking for.
6. Do you have content about your products and services and do you update that regularly? For expensive products, people like to do their research to learn more before they buy.