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ccleebelt
Joined: Apr 07, 2004
# Posts: 9
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Posted: 2006-Jan-13 20:21
Does anyone know if any good reports or similar that outline typical close rates for ecommmerce web sites? Also looking for cart abandonement etc.
I know some of these terms are subjective to the industy, etc.
Just looking for some average to compare some customer data too.
Thanks!
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flyingrose
Staff
Joined: Oct 30, 2003
# Posts: 3361
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Posted: 2006-Jan-27 23:32
There is a lot of information on these types of statistics online and in books too. Here are some links to get started:
Shop.org Statistics
WebSurveyor Shopping Cart Abandonment and Best Practices info
Ecommerce Guide on Improving Sales Conversions
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huebdoo
Joined: Eons Ago
# Posts: 68
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Posted: 2006-Feb-01 21:57
Any information that you find must be taken with a huge grain of salt.
Bailout rates have so many variables on a site from IA or UI issues to the price of the product and what currency or sales options are offered on the site.
Make sure that you are well aware of the vast possibilities before going off and presenting a report showing that its "Z" is the reason for our problems when you have to consider variables A through Y...
You might have to go to eTrack for example to get a competitive comparison "compare yourself and your site against like minded or like demographic sites"
Example if you are Joe’s pawn shop selling online ... dont compare your conversion rates to eBay ... compare them to another pawn shop.
The trick is finding the data that isn’t polluted or slanted one way or the other.
It’s a hard row to hoe and I have been in many heated discussions with execs from various companies arguing the exact thing.
They want conversion numbers and will pull them from any hole in the wall they can to show the board that they are doing Z sales numbers compared to Y internet standard when it should be X industry standard - with these companies used in the comparison data.
Dont just get an average number off the internet... it’s not even worth the time to paste it into a excel spread sheet. Define the competition and work on that instead.
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flyingrose
Staff
Joined: Oct 30, 2003
# Posts: 3361
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Posted: 2006-Feb-02 02:54
I'd like to reinforce what huebdoo has posted. I often point out that statistics measure what they measure. In other words, they include all variables that have not been controlled for whether you know about them or not.
Drawing conclusions without a very strong knowledge of what affects those statistics is a good way to be "taken down the garden path" as the old saying goes.
Even in the same industry all sites are different. Ideally the best comparisons are against your own results - seeking constant improvement.
It is valuable to have a big picture idea as I find many new advertisers have unrealistic expecations when it comes to traffic and conversion rates.
Knowing that 100 clicks is far more likely to equal 2-3 sales, especially at first, than 20-30 is extremely important for new advertisers.
On the flip side, assuming that a shopping cart abondonment rate of X is "normal" and your site is under X so improvement isn't necessary would be a truly unproductive decision.
Continuous improvement against your own results is a good measurement, especially since competition tends to get tougher - not easier.
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yellowwing
Joined: May 21, 2002
# Posts: 2526
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Posted: 2006-Feb-02 23:29
Either way that you interpret data the end result and action are the same. How do I tweak the content to make more money. Site owners have to make it easier for visitors to give out their credit card numbers.
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