“What’s wrong with my conversion?”
Scott Porad put up a terrific blog post last week about conversion rates and a lack of true averages.
While a global conversion rate of sorts exists–apparently, it’s 2.4% these days–benchmarking site conversion is a futile task due to the variables that impact sales.
Porad mentions Starbucks’ 99% conversion rate in his post. To expound, consider the stores in a shopping mall. Brookstone and Spencer Gifts, for example, probably have a lower conversion rate than, say, Old Navy or Radio Shack, due to the mindset of shoppers who enter (try vs. browse vs. buy vs. fix). But that doesn’t mean Brookstone has a problem. Differences in pricing, margin, and foot traffic expectations all play into the relative success of each store.
Instead of focusing on benchmarks for conversion rates, look at consistency of purchase patterns, and identify points in the browse and checkout processes where barriers can be minimized and revenues maximized. Not every site can convert like ProFlowers–and not every site has to.
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