When using an ecommerce site for your products, you want to be sure that you’re earning the most conversions possible. An ecommerce conversion rate tells you what percentage of your prospects are converting. But what is ecommerce conversion rate, really?
Ecommerce conversion rates explain the number of people who complete a desired action — in this case, purchasing from your ecommerce shop — compared to the number of site visitors. Understanding your conversion rate can help you improve it to drive more revenue.
This page will cover the basics of ecommerce conversion rates, a few averages, and how you can improve your rankings. Read on to learn more, or call 888-601-5359 to speak with a marketing strategist investor database optimizing your conversion rates!
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Ecommerce conversion rates 101
Before we break down different ecommerce conversion rates, let’s review some basic principles.
What is ecommerce conversion rate?
Ecommerce conversion rate refers to the number of people who bought something from your online store compared to the number of site visitors you have. This number correlates directly with your total purchases, sales revenue, and profit, especially if you are strictly ecommerce.
Why does conversion rate matter?
Ecommerce conversion rate can tell you a lot about your business health, marketing tactics, and overall success as a company. Good ecommerce conversion rates vary by business, but a solid rate will result in more revenue overall.
Understanding your ecommerce conversion rate can help you:
Evaluate the return on investment (ROI) of different marketing strategies
See what channels are driving the most revenue
Determine how your businesses is performing overall
If you are earning most of your income from ecommerce, that can tell you where your audience is finding your business. On the flip side, if you aren’t earning what you think you should, finding the cause of a low conversion rate can help you get more purchases.
What is commerce conversion rate optimization (CRO)?
Ecommerce CRO is a digital marketing technique that aims to improve the number of sales you have with ecommerce channels. For example, if you primarily sell on Amazon with a low conversion rate, you could make changes to optimize your Amazon platform for sales.
Ecommerce Conversion Rates Overview
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