"My conversion rate is 'X%.' Is that good or bad? What is the conversion rate at other companies? What is the industry standard?"
These are common questions many marketers ask – and for good reason. We all want to benchmark performance.
So in this MarketingSherpa Chart of the Week, we'll take a look at overall rates with a few caveats about how you should think about conversion rates.
Click here to see a printable version of this chart
We have three key items we check almost daily:
- Number of visitors
- Conversion rate
- Average order value (AOV)
We see that number of visitors is increasing; conversion rate and AOV is more or less stable. By far the most successful marketing instrument is our weekly newsletter with some special offers. That boosts sales dramatically. So we are also quite keen on having customers sign up for the newsletter.
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