"Hey John, did you see our conversion rate is 1.71%!"
"Woooooohoooooooo, I just saw on the Fireclick index that everyone dropped to an average conversion rate of 1.50%"
"Those poor suckers"
"Let’s break out the Dom and celebrate!"
When setting goals for your site’s conversion rate I suppose you could look at the collective metrics of your online peers, use these conversion rates as a benchmark, and celebrate if you happen to be doing better. But what if you are doing worse? Then you should look at these metrics as something you should aspire to, right? You could do that. Sure you could, but why would you? Here are the conversations most should be having…
"Hey John, did you see our conversion rate is 1.71%, we are losing 98.29% of our visitors!"
"Boooooohoooooooo, I just saw on the Fireclick index that everyone dropped to an average of 1.50%"
"We all suck"
"Let’s roll up our sleeves"
I know that is harsh, but someone has to be.
Celebrating this offensively low benchmark is like celebrating when your Corvette tops out at the 15 mph mark.
There are several reaons why online conversion rate apathy abounds. First, many sites are making boxes of money, big boxes. Second, some of the money in those boxes is labeled PROFIT. Third, it is hard to miss something you never had, that being the 98.50% of visitors that never converted. Also consider that those 98.50% of people don’t LOOK like people, they usually just show up as bar or a pie slice on metrics software.
But still that 98.50% worth of missed opportunities has got to be bothering someone. Anyone?
I know it bothers all of us at Future Now.
When we take on a new client we often calculate what their conversion rate should be. Some sites should be converting at 50% or more, others in the 20-40%, almost all should be converting in the low double digits.
So next time you set conversion rate goals, do me solid.Set your bar a wee bit higher than the online benchmark. And if your are still chicken to set it for a 20-50% conversion rate, then you can even set it at a less intimidating number.
How about aspiring to lose only 90% of your visitors?