What is a good eCommerce conversion rate for a B2C website?
One of the most effective ways to see how your B2C eCommerce website is doing is to look at its conversion rate. A better conversion rate can mean a better profit.
By conversions, we mean the number of people who visit your website and take a particular action. This ‘action’ is typically when they buy a product, but you may want to track other conversions like creating an online account or signing up for your newsletter.
The higher your conversion rate, the better your website is at convincing customers to behave a certain way!
In this article, we’re going to look at how to calculate your eCommerce site’s conversion rate and what conversion rate to aim for.
How to calculate your conversion rate
The good news is that it’s easy to find out and keep track of your eCommerce site’s conversion rate. You need to know how many web sessions your store has had as well as the number of conversions.
You can find this information in Google Analytics – just make sure you’ve got goals set up to track your conversions.
The next step is to turn this number into a percentage. For example, let’s say you have 2500 sessions and 125 conversions in the space of a month. This means your conversion rate across this period is 5%.
What conversion rate should my B2B eCommerce site aim for?
We recommend that the conversion rate for a high-traffic website should be 1.25% and around 2.5-3% for low to medium-traffic sites.
Why the difference? When you have a high-traffic website, it’s easier to make changes to improve your conversion rate as you have more data to use to your advantage. However, this isn’t always the case when you have fewer sessions and visits.
Is your B2B eCommerce website hitting the target conversion rate? That’s great! Keep an eye on your conversion rate and make sure it stays nice and high.
Are your conversion rates looking low? Don’t panic. There are plenty of things you can do to give your eCommerce site a boost. Here are a few suggestions to get you started.
Review the customer journey on your website to make it as simple and frictionless as possible
Carry out A/B testing to see which call-to-actions, headlines, and copy resonate most with website users
Use email automation to entice customers back to your store, for example, with an abandoned cart email campaign
Improve your page speed to stop frustrated customers from leaving your site
Offer free shipping and discount codes to encourage shoppers to buy
While having a target conversion rate to aspire to is a good thing, it’s important to remember that the right rate for your business depends on many factors.
For example, if you sell a high-value product or service, your ideal conversion rate will be lower as customers need to carry out more research. Traditionally, the property and automotive industries see lower conversion rates than the fashion and event industries.
Want to improve your eCommerce conversion rates? Contact us today and see how we can help you make small changes that make a big impact.