Do you want to know how your Website Conversion Rate ranks compared to those of similar businesses?
Running a business online allows tracking all sorts of data. And the most important of all is the Conversion Rate: the percentage of website visitors that do what you want them to do on your website (be that purchase something, or simply sign up).
Most businesses can analyze their Conversion Rate from the perspective of costs vs revenues. If what you invest to generate traffic is below the revenues generated by the x% of visitors that turn into customers, then you are fine.
But most probably you want to optimize your Conversion Rate in order to get a higher return for less marketing budget invested in generating traffic. And in order to know what is a realistic target for your Conversion Rate, you need to benchmark with similar businesses.
As a startup owner, I found myself constantly measuring our Conversion Rate and always aiming to increase it. But it was unclear if what we had was good or bad and many times it was up to informal meetings with other founders to clarify it by comparisons.
Hence, I published below a few useful stats of Average Website Conversion Rates to help you benchmark and I also invite you to a survey to shade light on this topic once and for all.
“Your website is the hub of all marketing efforts. All of your email, social media, and back-end SEO magic will ultimately point your audience to a page on your website to convert. As a consequence, your website conversion rate – how effectively your website does what you want it to do – is a major factor in determining your digital marketing success.” (HubSpot – 2013 State of Inbound Marketing)
HubSpot’s 2013 State of Inbound Marketing report, based on 3339 responses from marketing and business professionals from 128 countries recorded in Jan-Feb 2013, reveals the following:
- Average website Conversion Rate by company size: small companies 8%, medium companies 13%, enterprises 10%
- Average website Conversion Rate by target market type: B2B companies 9%, B2C companies 8%
- Average website Conversion Rate by inbound marketing use: companies that use inbound 12%, companies that don’t use inbound 6%
Totango’s 2012 Saas Conversions Benchmark, gathering data from 100 Saas businesses, reveals the following:
- Average website Conversion Rate for SaaS requiring credit card: 2% signup for free trial and 0.6% retained paid customer after 90 days
- Average website Conversion Rate for SaaS not requiring credit card: 10% signup for free trial and 1.2% retained paid customer after 90 days
- Average website Conversion Rate for best SaaS: 10% signup for free trial and 2% retained paid customer after 90 days
Adobe’s Q2 2013 State of Mobile Benchmark, based on analysis of 500+ retail websites in December 2012, reveals the following:
- Average Conversion Rate for online shops visited on PCs: 3.3%
- Average Conversion Rate for online shops visited on tablets: 2.2%
- Average Conversion Rate for online shops visited on mobiles: 0.7%