Conversion Rate Benchmarking and Optimization

[NgEF]

Hey everyone!

I run the marketing for an ecommerce marketplace and we're doing good on the SEO front of things, with 60%+ of our traffic coming in via search and we're ranking for some competitive keywords.

I'm really curious about the conversion rate though. Despite intensive googling, I've not been able to find a rough benchmark for conversion rates. Our conversion rate is about 1.2%, increasing as we continue to do more optimization work with regards to the site's usability. While we track other forms of conversions, the 1.2% conversion rate is for bookings through the site, which is our main source of revenue.

Does anyone have a reference guide for conversion rates, particularly for ecommerce marketplaces? I'd like to know if we're doing ok or really bad, and also to take reference from other similar sites to improve our conversion.

Thanks!!

[ClaytonJ]

Every Channel is different.

We benchmark at 6% for 1 company and are wrapped to hit 1% for another. We have a niche product/client at 14%.

If there was a standard - I would suggest in the range of 2-4%.  All that said it really comes down to on site behavior - where are they dropping off?  Is it the landing page - Why ? Is it the checkout page? Why? I would be very very carefully monitoring each page interaction.  Find out what makes them click and what does not. Then make adjustments accordingly.

Have you considered Optimizely or Unbounce? Not a fan of either but they are good at promoting themselves and many do rate them.

If you have the budget I would spend some time trying to find out why people drop off, via survey and analytic's.  Some very small improvements can make a massive difference. Nice little article.  http://tinyurl.com/nomws53

Hope that assists.

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