50 sites and a great visitor conversion rate
Visitor conversion rates are a pretty important metric for ecommerce site owners. It's hard enough getting new visitors to your site and now you hope that the landing page design, products, images, content and the shopping cart fluidity all encourage this visitor to make a purchase and convert.
According to the blog post in Smart Insights, in 2015, the U.S. average visitor conversion rate on ecommerce sites ranged from 2.91% to 3.62%. Meaning, for every 100 visitors an ecommerce site receives, roughly 3 of those visitors will make a purchase.
Well, at Hivewyre, we are an ecommerce data cooperative, and tout to our clients that we not only bring new visitors to their sites based off of our second-party data campaign strategy, but also bring qualified shoppers who are looking to make online purchases right now. How do we know these consumers are looking to buy now? We know because we are only targeting online users who are coming from other ecommerce sites within a particular segment, have not made a purchase yet and thus are poised to pull out that credit card and make an online order when they see the right product or price.
Nearly 15% in the past 7 days
While we were confident in our service and marketing strategy for our clients, we thought we'd break down the visitor conversion rate numbers on 50 of our clients' sites and see where we stood. Of the 50 sites we measured, two had a 0% visitor conversion rate and two had over a 50% conversion rate (58.5% and 77.3%). So with those outliers on both ends of the spectrum, our clients averaged 14.83%. Taking those four clients out of the group, the visitor conversion rate still remained above 14% (14.65%).
What these numbers say and mean
What these numbers are saying is that second-party data and data co-ops like ours bring value to a client. Because the data we provide our clients is based upon the user's intent and not demographics (like third-party data), we are seeing higher visitor conversions on our clients' sites than the average U.S. ecommerce companies.
How are we measuring a conversion?
How we measure a visitor conversion is within a 4-hour window. An online consumer is shown a display ad from one of our clients and if that user goes to that client's site and makes a purchase within 4 hours then we attribute that sale to the ad, aka, a view through conversion.
The power of the data co-op
We have data on over 80+ million unique shoppers every month within our data co-op. This allows a company of any size to get in front of thousands, if not millions, of potential new visitors and let them know about its company's site and products, which they are already looking for online.
A data co-op will put you in front of the right users. If you can get these new users to your site with the right messaging and value proposition, it would appear, as our data shows, that you will have a pretty good chance to convert these new found shoppers.