The Importance of Conversion Rate Benchmarks in E-Commerce
If you're an e-commerce merchant, you've probably heard the term "conversion rate" before. But what is it? And why is it so important?
Brody Hallon July 3, 2022.
In order to measure the success of an online marketing campaign, it is important to set benchmarks for conversion rates. By doing so, businesses can track their progress and determine whether they are reaching their desired goals. Additionally, comparison with industry averages can help businesses understand how they stack up against their competitors and identify areas in which they may need to improve.
What Is the Mean Conversion Rate for E-Commerce Stores?
The mean conversion rate for e-commerce stores is 2.35%. This means that, on average, for every 100 people who visit an e-commerce store, 2.35 people will make a purchase. There is a great deal of variability in conversion rates, however, with some stores seeing rates as high as 5% and others as low as 1%.
Google Ads Conversion Rate Benchmarks
Google Ads conversion rate can vary depending on the type of business you have and the products or services you offer. However, to give your a benchmark to work from, the average conversion rate for search ads is about 4.4%.
Facebook Ads Conversion Rate Benchmarks
Facebook Ads will vary depending on a number of factors, including the target audience, the type of ad, and the design and content of the ad. However, across all industries, the average conversion rate for Facebook Ads of around 9% is a good benchmark to work from.
Are you using Shopify to run your online store? If so, check out our guide to Shopify conversion rates here.
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