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Google is still ahead of everyone.

KDG group - 14.09.2020 - 0 comments

New ecommerce research shows Google is still ahead of the pack.

Is your online store operating efficiently enough? How effective is it in comparison with competitors? Sometimes it can be quite difficult to assess the effectiveness of your site if there is no data for analysis and comparison. In recent years, there has been a lot of research on the effectiveness of ecommerce sites in various business areas. But the more data there is, the better – especially if these are detailed and scrupulous studies, which are also presented in a fairly simple and understandable form. Such a study 2016 Ecommerce KPI Benchmark Study was carried out by Wolfgang Digital specialists. The study is based on 80 million sessions from sites and € 230 million in generated profits, which is quite an impressive amount of data.

Average conversion rate

The average conversion rate on an ecommerce website should be at least 2%, at least such a statement exists in the digital environment and is used by many marketers as a starting point for analyzing the effectiveness of an ecommerce resource. If the conversion rate of your site is above 2%, then its effectiveness is assessed as “above average”

Unfortunately, this statement can hardly be called true. According to research, most e-commerce sites have a hard time reaching the 1.5% conversion rate. Only websites selling travel products have an average conversion rate of 2% – retailers on average –  1.4% :

That is, if you have reached the 2% mark, then you have already overcome most of your competitors. At the same time, it is important to separate online retailers and retailers that use the Internet as one of the sales channels, since research shows that online retailers achieve a conversion rate of 2%, while multichannel ones (which mix online and offline channels) have a significantly lower rate – 1.18%.

This is because online retailers are solely focused on implementing and improving their online strategy, and multichannel players just want to establish their presence on the Internet.

Traffic Sources

It will hardly surprise anyone in the marketing arena that when it comes to driving traffic to your site, Google is still ahead. Wolfgang Digital’s research shows that Google sends the lion’s share of visitors to ecommerce sites: 43% of all ecommerce traffic comes from Google organic and 26% from Google advertising. In total, Google generates 69% of all ecommerce traffic.

Conversions are distributed in much the same way: Google organic – 42%, and Google CPC – 25%. That is, Google is really leading on all fronts.
Research also shows that social media currently does not play a significant role in attracting and converting traffic to ecommerce. Although traffic from Facebook increased significantly from 1.3% to 5%, this is still not enough, and the conversion for such requests is extremely low.

Speed matters

Here are some other interesting statistics from the study: the impact of website loading speed on ecommerce website performance indicators. Studies show an extremely negative correlation between server response time and conversion rate, that is, the lower the site load speed, the lower the conversion:

For every  0.2 seconds additional time to load the site   there is a loss 8% increase from the entry level conversion rate.

The study has a lot of interesting and useful data on optimization and tips to increase traffic to the site. I highly recommend reading the full text  here Wolfgang Digitals site.

Fun and useful research  also contains a lot of visual information. It can be easily used in presentations for investors or the board of directors. This is the data marketers need to protect their projects and defend marketing budgets.

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