Diagnosing Business Website Conversion Rate Troubles
Without a doubt, the conversion rate is the key business website statistic to watch. Depending on the nature of your site, your product or service, and your sales cycle, a reasonable conversion rate will probably fall into the 1 to 3 percent range, consistent with recent statistics from Fireclick. However, rates may vary substantially by the type and cost of the products or services you sell.
If traffic to the site is good but your conversion rate doesn’t hit the mark you established in your financial projections, you have three possibilities to address: your audience, your website, or your business fundamentals, including merchandising. web analytics can help you determine the source of the problem and the solution. It’s the ultimate proof of management by measurement!
Many online merchants consider analytics most valuable for improving conversion rates, reducing the rate of shopping-cart abandonment, and enhancing both natural and paid search marketing. By using a detailed funnel display to specify intermediate goals, as shown in the following illustration, you can diagnose specific pages needing improvement within the conversion process.