The performance of conversion rates across different industries is lower overall, although it is still considered professional. The average conversion rate in the fourteen industries is 1.9%. The best conversion rates varied significantly between different sectors, ranging from 3 to 5.5 percent. Facebook Ads have an average conversion rate of 9.21%.
This is important to note because marketers used more and more scare tactics last year. Unbounce recorded more words related to anger (+4.0%), sadness (+11.4%) and surprise (+3.5%) this year, with cybersecurity using 65.7% more words related to disgust. The pet care and veterinary services industry saw an increase in their conversion rate by 17.39%, from 3.15% in August to 3.75% in September. For cheaper products such as t-shirts or cosmetics, it's easier to get higher rates (more than 2%).
Marketers calculate conversion rates by dividing the number of users who complete an action by the total number of visitors or unique sessions on the site. The industries with the highest average conversion rates on Bing are careers (26%), employment (6.81%), finance (26%), insurance (5.57%) and real estate (5.13%). Interestingly, travel (9.5%) had the highest average conversion rate, followed closely by finance (7.1%) and healthcare (7.1%). Achieving high engagement rates among your inactive Facebook audiences is critical to developing your remarketing group, and it's best to aim for conversion rates of 10% or more.
Once you start solving potential customers' problems and have clarified their questions regularly, you'll see your conversion rates improve. If you're selling something expensive or complicated, such as furniture or appliances, you're likely to have lower rates (0.5% to 2%). Alternatively, if Google Shopping's conversion costs are higher than the industry average, consider trying out the brand campaign strategy mentioned earlier. It is possible to achieve more conversions in your Google Ads campaigns by optimizing the design of the landing page, writing attractive and segmented texts, and refining campaign segmentation.
Growcode provides an excellent visualization of the wide variation in average e-commerce conversion rates between different industries in their chart below. Many factors affect website conversion rates, including industry, audience, business model, and traffic source - so there are several ways to optimize your PPC campaigns for better conversion rates such as testing different ad copy, targeting, and offers. A key step in driving high conversion rates and low costs per conversion is to define what those things look like.This conversion rate reference report is based on performance data extracted from tens of thousands of US-based WordStream customer accounts.