What Is A Conversion Rate?
If you have an E-Commerce website, conversion rates are likely to be one of your main concerns. Conversion rates give you insight into how successful your store is. They allow you to understand how traffic is communicating with your site and how fit your visitors are attracted to your products.
In E-Commerce, a conversion rate is typically the number of people that have made a purchase associated with how many people have visited the website. The conversion rate is a metric that allows you to evaluate how well your online store is enhanced for sales. Because of this, it’s one of the most significant ways you can have.
How Do You Calculate Your Conversion Rate?
You can go through your conversion rate from Google Analytics. This requires you to set up an account and add precise goals you wish to start measuring (e.g. adding products to cart). If you need assistance with this, feel free to get in contact with us! We will be able to help you set up your Google Analytics to track conversion rates correctly.
What Is A Good Conversion Rate Benchmark?
Even if you know your conversion rate, how do you distinguish if it’s good or not? How does a store measure their success?
The first thing you need to choose what conversion you’re trying to scale. A conversion isn’t always a sale – at least not for all business.
Conversions Can Include:
- Contact Form Leads
- Newsletter Submission
- Phone Calls
- Email Queries
Before you make any analysis into your conversion rate, it’s important to differentiate what exactly you want to measure.
Context Is Essential
No individual conversion rate dictates whether an online store is fruitful. Every business is not the same. Some products are difficult to sell, and they require more investigation or attention – which may associate to more browsing and fewer purchases.
It is necessary to keep this in mind when trying to find a benchmark conversion rate. While there is always going to be room for enhancement, some markets will have more different conversion rates than others.
Basically, E-Commerce stores attain an average conversion rate of 1-2%. This means that if a store is meeting 1,000 visitors per month, ten people are making a purchase.
As stated, different stores will have varying benchmarks. Contingent on which niche your store operates in, your conversion rate to be expected be higher or lower. Here are some factors that may influence conversion rates in your niche:
- Price of the Items (costly items require more attention)
- Nature of product
- Location of your company
- Mobile Responsive – how does your store look on mobile?
- Traffic Sources – how do people discover your website?
- Shipping Cost
- Delivery Time– One Day, few days or click and collect
Conversion Rates Matter
There’s no doubt about it, and the conversion rate is an vital figure. It’s vital to take note of how users are interacting with your E-Commerce store. For websites that rely on people making purchases, it’s crucial always to strive to make your medium as conversion-friendly as possible.
Start Improving Your Conversion Rate
If you’d like to know more about improving your Conversion Rates and E-Commerce Stores, How to improve it? Feel free to contact us.
We work with E-Commerce businesses to optimize stores that will sell products and engage customers. We can help with recommendations to increase your conversion rate. Call us today on 888-850-2880.