Your e-commerce store’s conversion rate is a pretty good indicator of how well your site is at getting people to do what you need them to – buy products or services from you. But what should your conversion rate actually be? And how do you know if you’re site is performing perfectly or embarrassingly inefficient?
Keep reading as we explain ‘good’ conversion rates and introduce a few other key metrics worthy of your attention.
Do you know your goal?
If you read our last post, you’ll know that if you hope to increase your website’s conversion rate, you must first outline some measurable macro and micro conversion goals. What are your goals? Are you hoping to increase subscriptions? Encourage visitors to download your app? Or are you simply hoping to increase sales? No matter which area you decide to focus on or what your end goal is, your success is ultimately decided by you and the way you shape each visitor’s journey through your website and towards your final (macro) goal.
What should be my conversion rate be?
Your conversion rate goal depends on a wide range of factors. When it comes down to naming actual figures, opinions vary as to what an ‘ideal’ conversion rate is. Numbers range from 1% all the way up to 5% depending on which industry you look at.
Instead of setting yourself an unrealistic goal that could be as much as 5% higher than your current conversion rate, the best way to get started is to look at your current conversion rate and aim to increase it steadily. If your current rate is 1%, aim for 1.5%. If it’s 2%, aim for 2.5%, and so on. Each time you reach your goal, evaluate how you can further improve upon the quality of traffic arriving on your site and the user experience once visitors are browsing your products and services.
By continually re-evaluating your ‘ideal’ conversion rate, you will always have your eyes open for new ways to improve your site in ways that benefit your business. Of course, if you want to better understand your conversion rate and spot potential problem areas on your website that could be driving people away and preventing them from reaching your ultimate goal, you will need to take a closer look at a few other metrics.
Which metrics do I need to measure?
Alongside your conversion rate, there are a few other helpful metrics that you should be looking at if you want to understand how visitors are navigating your site.
- Exit Rate: This tells you how many people leave your website after viewing a specific page. If you find that specific pages have very high exit rates, this could indicate a problem with the page and suggest that any micro goals you have in place on the page are not working well enough to drive visitors towards your micro conversion goal.
- Bounce Rate: This shows you how many people leave your site immediately after viewing only one page. This metric differs from the exit rate because it highlights who is leaving without investigating your other pages. A high bounce rate may indicate that the page is confusing, hard to navigate or simply doesn’t contain what they were hoping to find.
- Engagement metrics: How long are people spending on your website before leaving? A short Average Session Duration could mean that people aren’t spending enough time on your website long enough to achieve your conversion goal. You can also take a look at the average number of Pages Per Session. This simply shows you how many pages a user visits before leaving. A high number of page views doesn’t necessarily mean more engagement, it could mean that the layout of your website is confusing and visitors aren’t sure of the best way to navigate towards your products and conversion goal.
Optimise your conversion rate with a little help from Fluid Digital
Need help improving your conversion rate? Not sure where to start? For expert digital strategies that deliver meaningful results, get in touch with the award-winning experts at Fluid Digital. Our experienced team will discuss your requirements in detail and put together a plan to get your business back on track. Give us a call on 0161 762 4920 or complete a contact form and we’ll call you at a time that suits you.