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A large study a few years ago concluded 1.8% of visitors buy (during that session? Not sure) That sounds about right to me and many others here.
The web's greatest evil isn't site or cart abandonment contrary to what many experts suggest.
It all depends on how your marketing and SEO is done. If you get alot of unrelated traffic, your percentages will be diluted. What you must do is to focus the percentages on EACH targetted source. Say, the conversion rate of 1 specific set of keywords from different search engines. Then you can compare which search engine or source give you a better conversion.
You cannot compare apple and oranges, which alot of people do. It is useless.
In our field, about 50% of sites shut down within a few years, and another 30-40% linger just above break even. Once a site is running the break even is often very low. About 5-10% of the sites are highly profitable. Those tend to be old sites and those run by brick/mortar pros.
I can't imagine that many sites convert as high as one visitor in 20.
Price: You can easily gain a 5% conversion rate simply by pricing your widgets at-cost and offering free shipping. Running your site at a loss may be a short-term (only) strategy to gain name recognition and build volume. Gradually adjust your prices upward until you maximize your revenue per visit.
Customer Loyalty: Repeat customers will convert at a much higher rate. Get on their Favorites/Bookmarks menu, keep your name in front of them via snail mailings or e-mails, run a user forum or wiki, offer better pricing for your loyal customers.
Customer support: Answer daytime emails within the hour, return messages promptly, provide online tracking numbers and order status, and offer live chat, and give insanely-prompt customer support.
Technological factors: Provide quick shipping and tax costs. Offer alsoBought's, product recommendations, wishlists, email a friend, and ratings/reviews. Sell online gift certificates.
Today's Internet shopper is price- and delivery-conscious, and very well-informed. And eBay has tought them to compare, ask for discounts, and use their chargeback leverage. They are a much tougher (but larger) crowd than B&M walk-in traffic.
people coming in will know what will sell and for how much.
we offer same day dispatch and answer all mail quickly.
we are also one of the cheaper e-tailors.
i think 5% is holding back on my behalf actually.
Shall be interesting to see how it works out though.
For a new store to get 5% conversion you better be on top of everything and be selling something very unique and desireable. As in no other competition. As for being the lowest price. I've found price matters very little if you're in the same ballpark. It's all about trust.
I'd be happy with 1.5% for a new ecommerce site, and I've been at this for 7 years. I mean look at Amazon, they're converting at 3.20%.
I think the point here is that every niche/source/site is going to have a different tolerence or expectation.
The key here is to work at INCREASING your conversion rate. Simply by the fact that you asked such a question I can be SURE that there are many many many ways you can increase your sites conversion rates. There are some great threads in here about doing so, get at em.
Don't worry about what/how your neighbour is doing, but set a goal to double your conversion rate in the next 60 days.
By the way, does Pay Pal work good for receiving the payments?
you talking about 5% or even 1%, with google I set up my budget to $30 a day with around 50c per click( so I can be at the top)
if I wait for 5% of people to buy then I will not make money, im I doing something wron...
if i understand you properly, you simply made no calculations before starting to burn your money.
My best visited pages are highly informative ones on folding or imprinting widgets, not aiming at direct order, but as a long-term marketing strategy. Compared to every-day-averages I had three times as many visitors on one of them on christmas eve, when absolutely noone is going to order or buy anything; I assume most have put my site to their favourites and will come back over the current year.
All this traffic, however, is natural, no paid adds; maybe conversion-rates might be higher with google adds.
Basically, all this statistics is a bit problematic. Don't forget to view and love your visitor as a unique paying individual. This has always been the best stragety to success.
I sell a consumable product so it's in everybody's interest to reduce complexity by entering into a contract to buy and sell at regular intervals without necessitating repeat visits.
Moreover, because my visitors visit an off-the-shelf website, the percent of customers is probably larger because there is an understanding of how the site operates.
I want to increase the percent of visitors who actually buy by increasing the number of visitors. I think this is the only way to become less of a faceless corporate entity, which I feel some larger ecommerce sites can be, adding real customer service.
I'm interested in hearing from anybody who can suggest ways of increasing low, or no, cost traffic to my site.