Re: Conversion rates for ecommerce

From: Robb Lewis <robb_at_marketingphysics.com>
Date: Tue 22 Jun 2004 08:32:20 -0500

Hi- I'm sure others on this list noticed the high conversion
rates from this report. CyberSource is actually referring to
customers that have already initiated the checkout process,
not the conversion of visitors to buyers. So conversion was
the wrong term to use. What they should have stated was they
were measuring shopping cart closure rates (vs. abandon
rate) in which case having more payment options provides
more choices and thus more sales. Hummm, didn't retail
figure that one out years ago?

Conversion rates vary not only on product or industry as
stated in this list, but differ widely on house customers
(repeat purchasers) and new visitors/leads. The Fireclick
index posted by Linda looks like house customer conversion
and not new visitors. Those are more like 10-20% of the
house rates. But again, there are so many other variables
(product, price, messaging, lead quality, shopping
experience, brand reputation, etc.) affecting converting a
browser to a buyer that it's hard to pin a single reference
point.

-Robb Lewis
robb_at_marketingphysics.com






Received on Tue Jun 22 2004 - 08:32:20 CDT