Online shopping has come a long way from simply being a way to provide your customer the convenience of shopping from the comforts of their home. As e-commerce has matured, being an e-commerce business owner you too should do the same by not considering your site’s conversion rate a mere metric. Read further to know more about it and its significance.
The number of people visiting your site and at the same time performing the desired action you want them to take is called the conversion rate. The desired action can be sign up for your email or making a purchase on your e-store or whatever your call-to-action (CTA) may be. In this article we are going to focus on converting prospects visiting your site to buyers once they visit your online store.
Significance of conversion rate
Your e-commerce conversion rate is significant for the only reason that by this metric you are able to measure the profitability of your business. Keeping track of your site’s conversion rate will also be useful when you attempt to fix the customer experience of your online store.
Finding your conversion rate
You can find your e-store’s shopper to buyer conversion rate in the back-end of your business through analytics reporting such as Google Analytics or other analytics services, irrespective of the e-commerce platform you are using. You can take support and service from your e-commerce development experts in finding the same.
Defining good conversion rate
Actually there is nothing like a good conversion rate because it depends on various factors like your target audience, your industry, the product you sell, the quality of traffic that is driven to your e-commerce site. Therefore, you must have a conversion rate goal that is aiming to achieve higher than the current rate.
Other metrics related to conversion rate
Besides conversion rate, the other metrics that matter for the health of your e-commerce business and your overall conversion of your rate are bounce rate, exit rate as well as engagement metrics like average page depth and average session duration.
Therefore, consult with your E-commerce Development Agency and talk with their team of e-commerce development specialists to guide you on achieving higher conversion rate and improving the overall experience of your e-commerce store.
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