E-Retail is Dominating with a Consistent Rise
“With e-retail sales accounting for 14.1% of all retail sales worldwide, eCommerce continues to grow at a speedy rate despite global economic uncertainty. What’s more, Statista forecasts that these figures will keep growing and reach 22% in 2023.” https://ecommerceguide.com/ecommerce-statistics/
EcommercE, an Investment in Yourself
without an ecommerce storefront, you’re throwing a lot of money away
“What is a good conversion rate? Across industries, the average landing page conversion rate was 2.35%” https://www.wordstream.com/blog/ws/2014/03/17/what-is-a-good-conversion-rate Last Updated 8/2020
Ouch, this part might sting a bit. Considering a Nov. 2020 web traffic of 856 people as our average base, let’s calculate your losses. Say you’ve had your website for 5 years, with 856 visitors a month, that’s 10,272 visitors a year. Let’s round that to 50k people in overall web traffic in 5 years. Ecommerce sites have an average conversion rate of 2.35%, at 50,000 people that would be 1,175 conversions. Now if your average online product prices are $1,000 then let’s calculate that revenue.
($1,000 x 1,175 conversions ) = $1,175,000 in 5 YEARS
= $19,583.33 / MONTH
How can I get that 2.35% Conversion rate up? The answer is a strategy, work, time, and consistency with your Digital Marketing!
“The top 25% are converting at 5.31% or higher. Ideally, you want to break into the top 10% — these are the landing pages with conversion rates of 11.45% or higher.”
“We recently analyzed thousands of Google Ads (formerly known as AdWords) accounts with a combined $3 billion in annual spend and discovered that some advertisers are converting at rates two or three times the average.” https://www.wordstream.com/blog/ws/2014/03/17/what-is-a-good-conversion-rate Last Updated 8/2020
Congratulations! If you’re at a 2.35% Conversion Rate or Higher you’re average!