What is a good conversion rate? Anywhere from 2% to 6%. The product you sell is a critical factor. The CR for books or software is usually higher than for clothes or food. Benchmarks are influenced by the industry, price point, customer demographics, ad budget, free shipping/returns, organic/paid traffic ratio, etc.
There isn’t one eCommerce CR number that everyone can use as an ultimate goal. Assess different business aspects and decide what constitutes their individual success. Take into account the monthly number of visitors: if it’s less than 50k, then a 1% CR is ok for a while.
What is a good conversion rate for eCommerce? Ultimately, it should suffice your profitability.
A Conversion Rate formula: the number of people who finalized a purchase divided by the general number of visitors, multiplied by 100%. If 20 visitors out of 200 purchase something, your CR is 10%.
Conversion Rate Optimization is a process that helps to transform more visitors into paying customers, skyrocket CR, and make more money.
This process doesn’t include product optimization but focuses on improving the overall website experience. Poor website optimization fetches down CR, regardless of your product quality.
The average conversion rate for eCommerce: for consumer goods — 3%; for B2B services, — around 5%; for websites selling both consumer and B2B products — 4%. Numbers change depending on external (competitors’ density, tech changes in the market, etc.) and internal (ads, price point, etc.) factors.
The best tools to measure CR automatically include
Conversion Rate is an important metric to measure because it directly indicates your website’s quality. If your CR is low, it means that people are not interested in what you offer or your website needs to be better optimized and easier to navigate.
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