For those of you who run an online eCommerce site, we bet you’d like to give your sales a lift.
In this article, we’re going to show you some ways to do just that. We are looking at eCommerce conversion rates, stats and best practices for 2016.
First, let’s look at the average eCommerce conversion rates (the percentage of people who take the desired action on your website).
According to one source, the average conversion rates are as follows:
First time visitors: 5.10%
Repeat visitors: 2.50%
Cart abandonment rate: 71.30%
Another source finds that product page conversion rates average about 8%. What does this tell us? It suggests that shoppers are entering websites more often through product pages instead of the home page.
This same study says that the top converting product pages are doing so at a 59% rate, while the bottom brands hover around .10%.
And, yet one more source sites average eCommerce site conversion rates between 2-3%.
While these rates vary a lot, we can point you in the right direction with the following info on conversion rates:
0-1%: Not good. Something might be broken on your site, and you need help.
1-2%: Below average. Check your incoming traffic and assess weak points on your pages.
2-3%: Average. It’s still a good idea to assess problems on your site.
3-5%: Very good. You’re getting somewhere now. Keep working at honing your conversion rate and see if you can leap any higher.
5% and above: You are the cream of the crop. Keep up the good work.
This is the question I get asked almost by everyone: “What is the average conversion rate for sites like mine?”
Usually I give the text book reference answer, “According to Industry Retailer, the average conversion rate for ecommerce sites is about 2-3%.” And there is usually a sigh of relief, a pause, and then, “Whew… Cool, we’re at about 1.5%, so we’re almost average.”
Seriously?!?! You are going to be eaten alive if you’re goal is to be average. I don’t like to tell people the answer, because I feel like, “why in the world do you want to be average or even be compared to average? Stay away from average!”
The question I usually ask is: “So why do you think 98.5% of everyone that comes to your site leaves?” Usually there is a long pause, then a reflective “I’ve never thought of it that way.”
I totally understand. We’re all just struggling to keep our head above water with 1,837 more tasks to do by the end of the day. We’re running around mach 10 with our hair on fire, and barely keeping up with the infinite loop of the email stream. All the while totally ignoring the few priorities that REALLY matter to the bottom line.
So, as a savvy marketer (being one of the 10-15 people who actually read our blog), your goal is to figure out “why the heck is 98.5% not takin’ the bait?”
The 5 Reasons Why People Don’t Buy
It really comes down to 5 reasons why people end up leaving your site with their wallet in the pocket (of course for lead gen sites, it’s their valuable private information they leave with).