Online Shopping Ecommerce Conversion Rates

Success with your online ecommerce store (Magento, Shopify, WooCommerce) relies on your stores ability to turn window shoppers into paying customers – thus conversion rate being the metric of all metrics.

eCommerce For Brands

August 1, 2017

Conversion Rate

“Conversion Rate” in eCommerce is commonly referring to the ratio between the number of visits to an online store and the number of purchases made in a given period of time. Success with your online ecommerce store relies on your stores ability to turn window shoppers into paying customers – thus conversion rate being the metric of all metrics.

 

If you’re currently managing an online eCommerce CMS Website store like MagentoShopify or WordPress, it’s likely that you immediately compared that 1% metric mentioned above to your own store’s conversion rate.

How does it compare?

A dataset of over $13B in ecommerce transactions was analyzed by Compass, they found that the average conversion rate in eCommerce is 1.33%

If you’re operating at a 3.6% conversion rate or higher, you’re among the industry top performers.

Form this research there are some patterns that have delivered COG Digital some great eCommerce insights.

  1. Among the highest-performing stores Google Ads perform better than Facebook Ads.
  2. For the average store, Facebook Ads and Google Ads have similar performance
  3. Among average stores, the Organic channel (from Google search) is the worst-performing
  4. For high performers Organic is one of the best converting channels
  5. Email is, by far, the highest-performing channel for ecommerce, with stores in the top stores achieving conversion rates of almost 10%.

Your customers can behave very differently, depending on the type of online product they are buying, who they are buying from and where they are located – therein lies the problem with generalising conversion rates.

These are key factors that affect eCommerce conversion rates.

ONE
For example, people looking to buy a hardware products online will not follow the same path to checkout as compared with a customer who is buying a fast fashion item.

TWO
A HUGE factor that influences conversion rates is price, naturally. More expensive products require a more complex purchasing process than less expensive products. When you need to visit a website a couple of times to make 1 purchase, that eCommerce website conversion rate will drop. Just take a second to address how many eCommerce websites you visit prior purchasing a car. Then, how much research was invested in purchasing a toothbrush.

What is a good Conversion Rate for your online eCommerce Shop?
Firstly, compare your business with others that are similar to it in size, business model, geographic location and the sort of eCommerce CMS Website platform they’re using. These are the key factors which influence in a large way what can be seen as “great conversion rates.”

When COG Digital build an eCommerce website, we consider these factors to deliver your online business the best possible data set, and more importantly the key insights that strategic decisions can be made from to better improve your online eCommerce store.

If you’re serious about getting a better conversion rate for your business and dominating your market and maximizing — down to the last dollar — your online eCommerce advertising ROI, you must address conversion rate.

Ready to turbo-charge your business and push your profits? Book your FREE strategy session call now. (02) 9523 6007

CLAIM YOUR FREE 30 MINUTE eCOMMERCE STRATEGY SESSION (02) 9523 6007

We’re eCommerce Conversion Experts. Call us today. (+61 2) 9523 6007

COG Branding leads as a technology and small business consultancy and operates as a brand and marketing agency.

COG Branding is human first. Advanced technology and software requires smart humans to guide and manage how they are implemented. We offer both packaged products and customised services – because no two of our clients’ businesses are the same.

Our delivery of digital solutions have smart people at the centre. Our team conducts customised strategies that use a variety of applications to obtain efficiency and operate optimally for Australian small businesses.

The COG Branding structure makes certain that we are providing brand, marketing and technology solutions for Australian small businesses that are underpinned by true value. Our team has an advanced knowledge of digital literacy ensuring the solutions and services we provide small businesses and brands are the most appropriate for the business, the most innovative and commercially viable.

Over time it’s become apparent that our skill is set in being able to provide value when others are unable – and this continues to remain as an integral part of the COG Branding purpose. Our purpose is to create more time for business owners, and to nurture opportunities through to success.

Our Sydney Branding Agency has two fundamental functions. The first is delivering a dynamic consulting service to Australian small businesses, which includes the communication of knowledge, advice and strategic processes that are purposefully built to make them more profitable, sustainable and enjoyable.

Our approach is primarily due to the durable nature of our broader business model. It’s COG Branding’s mandate to continually push hard and assist Australia in becoming more innovative, competitive and prosperous.

We know you need a trusted professional brand and marketing agency to support your business.

We’re focused on providing first class lead generation and digital marketing services, where services are affordable, simple to comprehend yet deliver leads and perform well.

With this clarity on our clients needs, our experienced and credible Sydney digital agency offers quotes and consultations free of charge, so to start witnessing your online success call us today.

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