What is a Good Conversion Rate?

Conventional wisdom states that a good conversion rate is between 2 and 5 percent. This should be considered average for websites, and if your site is below this limit, you'll want to spend time increasing your conversions. A rate between 2% and 5% is reasonable, and an increase of 0.5% can make a significant difference in revenue. It may require changes to the structure and optimization of the page itself if you don't do a good job of encouraging qualified leads to complete a conversion.

The following Growcode chart provides an excellent visualization of the wide variation in average e-commerce conversion rates between different industries. Knowing what a “good conversion rate” means for your company and why it's important is essential to growing your business. Compare your performance and use conversion rate optimization tactics to continuously improve. We recommend that you don't settle for an average and work on optimizing your landing page to achieve better conversion rates.

Keep in mind that average e-commerce conversion rates differ slightly depending on the type of product, the market, and making another small change, such as replacing your stock photos with infographics, could increase your conversion rate even more.The conversion rate can be defined as the percentage of users or visitors who perform a specific action. For example, Amazon sellers earn and maintain an average conversion rate that would leave behind what the industry considers “good”. Therefore, comparing your conversion rates to the average conversion rate across industries can be misleading to the idea that you're doing better than you're actually doing.If you don't like numbers, you can use Google Analytics, which calculates the conversion rate for you. Since every conversion brings a person one step closer to becoming a customer, you want your marketing efforts and audience-oriented content to generate as much as possible.