Is your conversion rate good?
July 11th, 2009
Something I have been asked a few times by online retailers is, “how does my conversion rate compare to others in my industry?“. Speaking to one online retailer a few weeks ago, they specifically mentioned having access to lots of data from Google analytics, but they have no idea if they are doing better or worse than their competitors or others in their industry.
If you work with E-Commerce, check out the Fireclick Index which publishes a list of conversion rates for different types of e-commerce websites each month, and that can offer some sort of guide as to average conversion rates, and how you are performing.
You should of course be aiming to out perform the average, as this makes your advertising cheaper (lower customer acquisition costs), can result in a higher absolute number of customers, which can result in a higher absolute number of repeat-sales.
Categories: Conversion
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