As far as the research has been able to deduce, the conversion range of the average e-Commerce rate is found to be around 2-3%. The conversion rate is not measured that simply. Countless variables are involved in this entire procedure to reach a definite conclusion. These variables have the ability to influence the conversion rate either in a brilliant way or otherwise. The conversion rate is greatly affected by the contribution of variables such as country, industry, device, traffic source, and product type.
An easy formula for the calculation of eCommerce conversion rates
The division operation between the total number of conversions that took place in a certain time and the total visitors who ended up on your website in the said time gives you the eCommerce conversion rate.
Let's break it down into an example. Consider, a total of 6,000 people on your website were able to generate a total of 300 conversions. By putting this data into the formula, the calculated eCommerce conversion rate would be 5%. It entirely depends on you if you want to keep it broad or specific. This data represents sales conversion. Calculating the conversion rates through the segmentation of your traffic is an absolute win. Divide the traffic that reaches your site into several segments, for example, source and page. To make it further easier for you, following are the conversion rates from different parts of your website:
- Conversion rate of your product page
- Conversion rate of email marketing from the segment of the email subscription list.
- Conversion rate of your blog through the pure organic audience
- Conversion rate of your homepage
The process of segmentation is pretty valuable because it provides you closure to your website's analytics in an organized way. It acknowledges you with the performance of your pages and the traffic that is reaching there through various sources. It might be possible that the organic traffic on your website becomes the cause of sales. Or, in other cases, it may quite be possible that it brings in only social media traffic. Hence, both cases help you to readjust your budget plans.
Important variables for measuring eCommerce conversion rate:
Industry
Device
Traffic Source
Product
Your conversion rate will only increase if the product you are selling is appealing to the eyes of the visitors.
As mentioned at the beginning of the article, the average conversion rate is construed to be around 2-3%. But you must always make sure to consider all the variables before calculating the conversion rate for your website in the long run.
