eCommerce Tycoon

**TWD** · 07-31-2010, 07:13 AM

Of course I am talking about the completed transaction funnel conversion rate or in laymans terms the shopping cart completion rate.

I have heard that the standard conversion rate is somewhere between 30% and 70%. Which is a pretty wide range.

Any stats or research that would point out what a "good" conversion rate might be?

**chrishirst** · 07-31-2010, 09:17 AM

Only your own stats will tell you what a "good conversion rate" is.

"cart completion/abandonment" depends on so many factors, and if you feel that "abandonment" is excessive then you need to implement some testing to find out where the potential buyers are simply giving up

**Craig@Trinity** · 08-08-2010, 02:25 PM

Conversion rates vary greatly within industries. Som industries, like retail ecommerce, have average conversion rates fall within the 2-4% range. Other industries, such as mortgage leads, where credit card data isnt part of the equation, have averages fall more in the 7-12% range.

Ive never heard of any conversion rate for any industry equal 70% or even 50%. Web users are too un-attentive. The best thing to do if you are looking to drive more profits with analytics and optimization is to conduct conversion rate optimization. Do that through: multivariate testing. Good luck!

**createdevelop** · 08-08-2010, 07:02 PM

If you google around for landing page optimisation and conversion rates "case studies" there are some pretty good ones that show you how important things like colour can be to reducing your abandonment levels.

In the end, customers are like sheep, you can herd them pretty well, but it doesn't take very much to spook them.

**TWD** · 08-09-2010, 12:41 AM

Quote:

Originally Posted by Craig@Trinity

Conversion rates vary greatly within industries. Som industries, like retail ecommerce, have average conversion rates fall within the 2-4% range. Other industries, such as mortgage leads, where credit card data isnt part of the equation, have averages fall more in the 7-12% range.

Ive never heard of any conversion rate for any industry equal 70% or even 50%. Web users are too un-attentive. The best thing to do if you are looking to drive more profits with analytics and optimization is to conduct conversion rate optimization. Do that through: multivariate testing. Good luck!

I was asking about shopping cart abandonment rates which is not the same thing as total visitor conversion rates.

If you are familiar with Google Analytics you would be familiar with "the funnel". Thats the conversion rate I am talking about.