Online retail is extremely competitive. The percentage of visitors who complete a sale tend to average around 0.5-4%. Expect rates between 0.5-1% if you’re a small eCommerce store and you haven’t invested in conversion optimisation. At a 1% conversion rate, 100 visitors are required in order to make one sale online.
If you consider that Facebook charges around $1 a click for traffic in Australia then you start to realise how expensive online retail marketing can be!
Retail businesses that sell lower priced items online tend to invest in Conversion Rate Optimisation. This is where data analysis is used to identify ways the business can sell more products without increasing the amount of traffic.
I recently increased the conversion rate of an online store by 26% overall, and 86% for mobile phone users.
So if you know an owner of an online retailer who has low conversion rates, please help them to find a service they may need by introducing them to Web Data Analytics.