Lead Generation for Education Engage Students

All about online store conversion – what is meant  Lead Generation for Education by this term, how conversion is calculated, why it is important to track it and how to improve it.

What is online store conversion

Conversion is the percentage of the desired action performed. For example, we have a product landing page with a “Buy” button. In this case, an important indicator is the conversion of clicks on this button, it will be calculated as the ratio of clicks phone number database to the number of all visitors to the page.

When talking about online store conversion, they usually mean conversion to purchases – the ratio of visitors who made a purchase and all visitors in general.

For example. During the week, 1000 people visited the online store, 20 of them bought. The conversion for this week will be: 20 / 1000 * 100% = 2% .

Why Calculate Online Store Conversion

The conversion rate is important in the moment and in dynamics. In the moment, it will show how successful the company is compared to other stores:  Lead Generation for Education if your conversion is 1.5%, and your competitors have an average of 3%, you need to do something. Further, I will tell you what average conversion of an online store is considered normal in different areas.

But it is much more important to track the digitalization in sales dynamics. Let’s imagine that your profit is growing. This can happen for various reasons:

• Traffic has increased – more people are visiting the site, and accordingly, orders are growing proportionally.
• The average bill has increased—the order amount per customer is larger.
• Conversion has increased – more orders with the same figures.

Ideally, you need to work on all indicators. But working with conversion will help you get more profit in the current situation, without expanding traffic and increasing the average check.

What is considered a good conversion rate for an online store?

There is no such thing as a normal conversion rate for an online store. The numbers depend on the size of the store, the type of goods, the talent of your marketers and, in general, on your financial goals.

Data Insight agency studied the conversion of Russian online stores of different sizes and industries in 2019. Here are a couple of facts from the study :

• The giants from the top 100 by sales volume achieve an average of 10%, while the conversion of stores from the third thousand is just over 1.5%.
• The highest conversion rates are pet belgium numbers stores and pharmacies (around 19%), the lowest conversion rates are for construction and sports stores – around 4%.
• The most homogeneous sphere in terms of conversion is pet stores, the maximum difference is only 1.7 times. The largest spread is observed in pharmacies, with a maximum difference of 3.7 times.

Here is another study on the global e-commerce market from the Wolfgangdigital agency . According to it, the average conversion rate worldwide is only 1.85%:

How to Increase Online Store Conversion

Conversion from a visit to a paid order is a fairly general indicator. In the sales funnel from entering the site to payment, you can highlight many more individual conversions: for example, the percentage of visits to the product card and clicks on the “Add to cart” button in the card itself. The higher it is, the higher the final conversion of visitors to buyers will be.

To identify the most important of these small  Lead Generation for Education conversions, you’ll have to dive into sales funnels and statistics. First, outline the funnel from entering the site to the moment of payment: what pages your visitors go through, what actions they take. Then go look at the statistics: at what stages they “drop off”.

Next, I’ll tell you what tools and methods you can use to improve interactions with your users at each stage of the funnel.