The retail industry average conversion rate is a measly 1.8%, according to Shop.org Research. Many people are pleased with a 2% conversion rate from their website because of the average 2% conversion rate that direct mail usually nets, which Robbin Steif points out in the article that appeared on the Web Analytics Association website, “Why your 2% conversion rate is so lousy”.
But the truth is that the titanic battle to get an envelope opened is the main reason for the rotten direct mail conversion rate, and a website has a 100% open rate! Once a visitor sees the landing page, the visitor might leave right away, but he or she always gets there in the beginning. Websites have the potential for a much higher conversion rate than 2%.
Without the self-induced glass ceiling, industry wide conversion rates have the potential to become much higher. There have been many case studies that report tales of companies finding the right lever and being able to exponentially increase their conversion rates! One such example is the article “How Web Analytics Helped Find A Million Dollar Hole” by Steve Jackson, Editor of the Conversion Chronicles.
I urge you to not be satisfied with your current conversion rate. If you continually change little things, test, and improve your site in an on-going process you can achieve a conversion rate others will only dream about!
