Page 14 - The Ultilmate Guide to Retail in 2023

Conversion optimization:

“Once you get past the business

Your conversion rate describes the number of basics, my number one piece of

website visitors that complete a desired action advice is to invest in a consistent

- usually, an online purchase. This is, of course,

hugely important, and yet, the average website conversion rate optimization

conversion rate stands at just 2.35%. While program running at all times.

this number varies naturally depending on the Just investing a little bit of your

market, product type, and many other factors, marketing budget into conversion

this still means that a huge number of online

visitors - potential customers, in other words rate optimization can have a huge

- decide not to go through with a purchase. impact on your performance.

Perhaps they lost interest or those impulse-buy Conversion optimization is

triggers weren’t effective enough.
constantly testing and improving

Whatever the reason for a customer’s decision everything on your website; this

not to make a purchase, conversion rate could be visibility, usability,

optimization (CRO) is used by retailers to making the website convert better,

help shoppers come to a different one. Many optimizing images, and even just

brands use A/B testing or multivariate testing

to improve various elements of their site or app better reviews.”

and enhance their CRO.

Andrew Lolk / Founder of digital marketing agency SavvyRevenue

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