Chart of the Day:Â Marketers who offer electronics have the highest mean conversion rate at nearly 25%
Measuring and reporting conversion rates is vital for all ecommerce marketers. Benchmarking your conversion rate against others in the same industry can give you an indication of how you compare to your competitors. However, having a lower conversion rate does not mean your marketing has been unsuccessful, it shows that there’s room for improvement.
Average ecommerce conversion rates are 1% â 2%. Even if you are doing everything right, you can still expect to win the sale around 2% of the time.
However, research by Marketing Sherpa shows that marketers who market electronics can see almost up to a 25% conversion rate, followed closely behind publishing and entertainment, and business services.
Improving customer journey effectiveness is important for any conversion rate optimizationÂ (CRO) strategy. To reach and surpass your competition think about the techniques you use to research and improve customer journeys. These can include:
- Customer Personas
- customer journey mapping
- AB testing
- Path analysis in analytics
- Website customer intent surveys
- Voice of customerÂ surveys
All of these techniques can be used to create better experiences and convert more customers.
- Source:Â Marketing Sherpa – Ecommerce Benchmark Study
- Recommended Resource:Â Website conversion and Revenue model calculators