The conversion rate (CVR) is a metric that measures the success of your online store. It is calculated by dividing the number of orders by the number of views. This rate can indicate different things depending on the action you want users to take. To improve and maintain a good sales conversion rate on Amazon, you must use the pricing policy wisely and take into account competitive prices.
Improving the conversion rate directly and indirectly benefits all aspects of your organization. While it isn't the only factor that guarantees success, it greatly contributes to increasing sales. The faster buyers understand exactly what they're buying, the higher your conversion rate will be. You can improve the CVR by observing and acting on the factors that most influence it.
Amazon Prime has a sales conversion rate of almost 74%, which is undoubtedly the highest. The most popular brands even have a conversion rate of almost 20 to 25%, which is considered the maximum. A high conversion rate means better organic rankings and a higher return on investment from sponsored marketing, which means more sales and money in your pocket. If your conversion rate is below average, it's likely that your ad, advertising campaign, or both needs attention.
To improve your CVR, one of the most important things to consider is the selection of keywords. To get an exact conversion rate for a product that you're not currently selling on Amazon, use the traffic diagnostic report to compare your conversion rate with previous periods. This will help you control how changes in your product listings have affected your sales and new competition in the market.