Are Website Conversion Rates Deceptively Low?

shopping cart 300x300 Are Website Conversion Rates Deceptively Low? There is an ongoing debate as to what constitutes a ‘good’ website conversion rate. As any marketer will know, conversion rates are the index of a website’s success and one of the primary KPI’s by which a marketing strategy is measured.

Many articles have been written on what exactly constitutes a good conversion rate. But the truth is that this varies according to many factors – not least, what industry you’re in. The lowest average conversion rates tend to be in e-commerce (around 1%), rising as we move into legal (2%), B2B (2.5%) and highest in finance/insurance (5%).

But these average figures can be deceptively low. In reality there is lots of room for maneuver between the median website performers and the very top website performers – by as much as 3-5 times.

For a typical e-commerce site, website conversion rates can typically swing from below 1% to over 4% for the top performing sites. And if we consider that every single percentage point can be worth many millions in revenue to a large e-commerce business then even the numbers after the decimal point suddenly become hugely important to a business.

Now – your web analytics tools will tell you plenty about those that do convert. But what about the neglected masses that leave without a transaction? Do you know why they bounced? What if it’s due to a little-noticed customer experience problem that could be solved quite easily? But, if the problem is little noticed, then how will you, the marketing professional, know about it – unless you can see into your customer’s digital experience?

The infographic summarizes the predicament and the solution using ClickTale’s Digital Customer Experience software.

(Click on the image to expand).

ClickTale conversion Are Website Conversion Rates Deceptively Low?

 

 

 

 

 

 

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About Sam Green

Sam Green is the Chief Content Editor for Clicktale