What Is a Good eCommerce Conversion Rate?
Are you looking at your conversion rates for landing pages and your eCommerce site overall wondering if they are good enough? You’re not the only one!
The majority of eCommerce business owners have a conversion rate they would like to achieve weekly, monthly, and yearly.
If this is you, let’s get right into it.
The average eCommerce conversion rate is 2%.
Since most people have a conversion rate of 2%, you want to see at least that for your site.
Calculating eCommerce Conversion Rates
Conversion rates are easy to calculate. If 5,000 people visit your website each month and 50 make a purchase, your conversion rate is 1%. Of course, those numbers are easy to calculate. For those of you who are mathematically challenged, use a conversion rate calculator. It makes it easier.
What to Do If You Don’t Have a Good eCommerce Conversion Rate
Now that you know what the average conversion rate is, you may or may not be happy about it. For those who have a conversion rate well above 2%, you’re likely wanting more and those who don’t have one that’s close to it, likely want more too.
The good news is that there are many ways to increase an eCommerce conversion rate. We’ll start with understanding the different types of conversions.
Types of Conversions
The above eCommerce conversion rate has to do with sales. However, there are many other types of conversion rates you should consider when considering whether you’re getting a good conversion rate.
This is the most wanted conversion. It brings in the money and satisfies the overall goal.
Add to Cart
This conversion rate may not seem as satisfying, but it’s close, especially if you have automated abandon cart emails going out that increase purchases.
Add to Wishlist
Not every eCommerce has a wishlist option, but it should. A wishlist option can be just as good as a cart addition because the shopper is very warm – close to a purchase.
It’s also important to look at the number of email signups. It directly affects purchases and many people see revenue from their email marketing campaigns.
All of the above types of conversions (especially purchase events) directly affect your eCommerce conversion rate. Getting people to purchase from their abandoned cart or wishlist and emails are much easier than getting website visitors to convert. This is why you should put a plan in place to increase those types of conversions to increase your overall purchase conversions.
How do you increase conversion rates for those types of conversions?
A few general tips:
- Use “Buy Now” instead of “Add to Cart” for your call to action to add a product to the cart.
- Change the color of the “Buy Now” button to RED. Red motivates people because it increases heart rate and creates a sense of urgency.
- Add a wishlist option and make it the “Add to Wishlist” button green. It has a high click rate as well.
- Add an email signup form to the site and include it on every page. Design a landing page with the email signup form on it and market it with advertising to add more people to your email list. You can also automatically add customers to your email list to increase repeat buyers.
The work you do with these secondary aka micro-conversions (conversions that help you achieve your main conversion goal) will help you greatly.
What Else You Can Do to Improve eCommmerce Conversion Rates
A big part of marketing is to improve eCommerce conversion rates and you can do that by doing the following:
Increase Website Traffic
There are many ways to increase website traffic, such as:
Search Engine Optimization
Optimize your website so it ranks better on Google. This way you can get in front of your target audience more.
You can advertise on Google, social media, and even on other websites. Use keywords and be sure to always keep in mind what you
Be active on social media to improve brand awareness.
Use A/B Testing
A/B Testing is very effective in improving eCommerce conversion rates. By making changes and comparing conversion rates between two versions can help you identify what works better in getting people to click through.
You can use an A/B statistical difference calculator to see if the difference in conversion rate is big enough to show that the change made a positive impact.
Add a Chat Feature
Chat can increase conversion rates greatly. Consider adding one to provide exceptional customer service, which will bring browsers closer to buying.
Achieve a Good eCommerce Conversion Rate
Now you know what you need to do to achieve a good eCommerce conversion rate. Get started today, so you can see the results of your work as soon as possible. If you’re already at the 2% conversion rate, keep going! You’re well on your way to achieving your eCommerce goals.