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“Read
Our Article About The Internet
Language As Featured In  ” |
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For
many businesses, their website
is a key revenue channel.
Considerable online and
offline expenditures are
spent to drive traffic to
the firm's website.
Bottom line: The ability
to convert visitors to buyers
is the ultimate benchmark
of a site's business process
performance.
The Top 300 Internet Retailers
report an average visitor
to buyer conversion rate
of 3.8% and an average purchase
of $92. These assumptions
drive the data table below
which details monthly revenue
$ improvements from a base
case. For example, using
industry averages, a retail
site with 100,000 visitors
a month generates $349,600
in revenue. At this traffic
level, a 30% improvement
in visitor to buyer conversion
would increase monthly revenue
by $104,880. That's
over $1.2 million on an
annualized basis.
In
addition, an improved interface
experience has been shown
to increase average purchase
size as well as increase
the percentage of repeat
buyers, further reinforcing
the critical importance
of this benchmark.
Bottom
Line: It is hard to imagine
greater leveragability
in your marketing mix
than sharpening the process
that converts site visitors
to site buyers.
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