Let’s make it clear from the outset that it is not possible to achieve a conversion rate of 100%, or even 50%. The general average for the entire e-commerce industry is between 2% and 5%. Only one in four companies achieves a conversion rate above 5%. However, the best in e-marketing have a result of 10% or more.
Generalized values for the entire
E-business often do not match the phone number database average rates of individual industries. For example, a conversion rate of 6% will mean a very good result for an online store, but for a company dealing with finance – a rather poor result. This results from the popularity of the services. An online store offering cosmetics or women’s clothing will have hundreds or even thousands of visits in a single day. On the other hand, a company offering loans or various forms of investment is much less frequently visited by users. Only a conversion rate of 11% will be a decent result.
The factors that influence the assessment of the effectiveness of our online activities also include the advertising channel. Facebook advertising will have different values, and Google Ads or e-mail marketing will have completely different ones. Among the channels, it is worth paying attention to the so-called organic results, i.e. the “natural” (free) position of our website in the search engine results. The higher the conversion rate, the better the optimization of our website in terms of SEO .
Where can I find information on average conversion rates?
The most popular tool used for define your persona and produce relevant and valuable content this purpose is Google Analytics . In addition to measuring traffic and actions taken by users, the program allows you to track average conversion rates depending on the industry, channels, location, type of device (laptops or smartphones). Google Analytics is a free program that can be easily integrated with your own website.
Another source of information is all kinds of
Industry reports that can be found canada cell numbers on the websites of research, consulting, or industry media . These reports can tell you what the average conversion rate is for a given sector, but also what the current trends and best practices are in e-marketing activities.
Another way is benchmarking, or analysis of our conversion results compared to the competition. This allows for a real assessment of our position on the market, but also for learning about our strengths and weaknesses. Knowing our own shortcomings, we can intervene appropriately – by introducing and testing new solutions. Benchmarking can be carried out based on Google Analytics or other analytical tools. A necessary condition for effective analysis is access to current and reliable data from entities that constitute our competition.