Couple weeks ago I wrote about conversion rates. Recently I came across another research that covers (among other areas) this topic. You may see the chart with the results above. I was quite surprised to see that the significant share of respondents claiming that conversion was above 10%. Probably the research methodology (survey, not actual measurement) led to that (some people tend to draw more rosy picture than the real situation), don’t know. Further interesting facts from the study:
- Smaller businesses (under $1M annual turnover) claim in average higher conversion rate, with most significant difference in 60-80% conversion rate bracket;
- The industries with best conversions were electronics, publishing, media and entertainment (over 20% in average);
- Not surprisingly, but companies that employ testing and analysis of extensive historical data have better conversion rate than those guessing;
- The correlation between conversion rate and overall business success score is minimal. That’s understandable, cause as I noted in my previous post about conversion, it is only one indicator and can’t be used as a sole measurement of success.
The research from Marketing Sherpa is available for free (form submission required). It is based on survey of over 4,000 retailers, mostly from United States and Europe.