Convergence rates?

by visem

Posted: 10 years ago 12 replies

INTERNET MARKETING

Hello,

I am wondering what average convergence rates are for $25 products in the IM niche. Isn't the rule of thumb 2%?

Where can I go to get such a rate or higher?

Thanks,
-Vitaly's personal assistant

#convergence #rates

ColdWritingLLC

10 years ago

Originally Posted by visem

Hello,

I am wondering what average convergence rates are for $25 products in the IM niche. Isn't the rule of thumb 2%?

Where can I go to get such a rate or higher?

Thanks,
-Vitaly's personal assistant

Do you mean conversion, not convergence?

Assuming you do then I'm afraid you aren't going to find any real numbers. I wouldn't trust any sales numbers that weren't my own and every product is wildly different based on wildly different approaches so there aren't any consistent results in this type of business.

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savidge4 10 years ago

Dependent on how targeted your advertising is, the industry standard is 3% regardless of price point.

If you have widgets for sale, say 300 varieties, at $5 each, and you get targeted traffic for "widgets" you should close 3%. If you have a $10,000 "Gold Widget" and are targeting "Widgets" well... you wont do so well. However, if your target is "Gold Widgets" then yes, you should meet your 3% mark.

Its not what you are selling, its who you are advertising to. You may not be able to sell ice to eskimo's but, you can sell ice at a premium to some lost sucker at death valley in August!
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- JRJWrites 10 years ago
  
  Originally Posted by savidge4
  
  Dependent on how targeted your advertising is, the industry standard is 3% regardless of price point.
  
  Who told you?
  
  I'm calling B.S. on that....
  
  Thanks
  
  3 replies
  
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  Daniel Evans 10 years ago
  
  CR is subjective based upon a sizable list of factors.
  
  ....and a sizable list is one.
  
  Thanks
  
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  savidge4 10 years ago
  
  Originally Posted by JRJWrites
  
  Who told you?
  
  I'm calling B.S. on that....
  
  Its not who told me, though I have been told. However, I speak from personal experience. Be it my $3.00 HDMI cables, or my $79 satellite service, I sell 3 to 9% across my product list depending on what it is. The HDMI cables are 3% and the sat service is 9%. The sat page is way more targeted than the hdmi cable page.
  
  To be absolutely honest, in my dabbles in Mobile design for customers, the return rate is even higher - Just the in store use of mobile coupons is higher than 3% more like 8 to 9%. Total in store and online is on average 10.5% ( Keep in mind this is local targeted traffic, making the in store purchasing a factor )
  
  Keep in mind there is HUGE difference between traffic and targeted traffic, and if your results are not somewhere near the same, there are issues. It could be your traffic is not targeted tight enough, it could be your copy, it could any number of things. Is your call to action button orange? Id have to see what you have to tell you where the breakdown is.
  
  Selling on the internet is not rocket science, but it IS science non the less.
  
  Thanks
  
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  visem 10 years ago
  
  Originally Posted by JRJWrites
  
  Who told you?
  
  I'm calling B.S. on that....
  
  Anyone else want to chime in on 3% rates? Or give rates period?
  
  And where do you get such rates any way?
  
  We've built a very large list from safe-swaps but with no buyers and the product is $25.
  
  Thanks,
  -Vitaly's PA
  
  Thanks
  
  1 reply
  
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  Daniel Evans 10 years ago
  
  Originally Posted by visem
  
  We've built a very large list from safe-swaps but with no buyers and the product is $25.
  
  There's something to heed here.
  
  Thanks
  
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KenJ 10 years ago

There are too many variables in you question to answer sensibly.

The variables are

safe-swaps
buyers
Product
$price

All these can vary in quality and if you are getting no sales then my hunch is that you have poor quality somewhere in your sales process.

For what its worth, I am pleased with anything that converts to a real buyer at 1 in 200 (.5%). If anyone could convince me their product does better than this I would promote it, but I'm not holding my breath.

KenJ
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- visem 10 years ago
  
  .5% is what:? a general convergence rate for everywhere:?
  
  Thanks,-Vitaly's PA
  
  Thanks
  
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thatjc 10 years ago

There is no such thing as a "general sales conversion rate" in ecommerce. However and SCR % (Sales Conversion Rate) that people attempt and hope for, and many actually achieve, may start at maybe 0.5% (1 sale in 199 visits) and can go up to 50% or even higher, if promoting to a highly targeted niche, like an excellent mail list in a needy market niche.

But the above is a vast generalization - not something to use in a real business plan.
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- savidge4 10 years ago
  
  OK so let me get your process right... you run an add for "widgets" people are clicking the ad for widgets. People are getting to your squeeze page, entering their info knowing they are getting widgets next. ( you now have them on your list ) and forwarding them onto the widget sales pitch? then you are not closing?
  
  There is a broken link here somewhere. There is with no question miss information or a disconnect, in your advertising to sales communication. It has nothing to do with the cost of your widget, that should have already been laid out somewhere in the funnel.
  
  Oh geez... you aren't setting the price up front are you? you are leading them along and BANG $25.00. You are blindly what I call double funneling. The ad is a funnel, and then the squeeze of course to get to the product is a funnel.
  
  what is the conversion from the ad click through to the back side of the squeeze? meaning of all the clicks you get from the ad, how many are getting to the $25.00 offer? I am going to assume that number may be high.
  
  Do you see where i'm going with this? SOMEWHERE there is a FLAW in your sales chain! I'm not saying your end product is bad, I am saying how you get them there is.
  
  I hear an ad on the radio, Home Depot has new wonder paint, Oh boy I want wonder paint, I have to get a coupon out of the Wednesday Newspaper flyer. I get the flyer... again Home Depot has wonder paint. I grab the coupon, go to home depot WHAT?!?!? $200.00 a gallon? This is probably what you are doing. and that in itself is why your not closing.
  
  By at least not implying price you are implying FREE, you have set both you, and your newly acquired customers up for let down.
  
  By all means tell me I am wrong in my assumptions, And I will work with you from there. Ill even admit I was wrong, but I have a feeling I am not.
  
  If nothing else out of all of this, know 1 thing. You must write the heck out of some sales copy to get them that far! Way to go on that!
  
  Thanks
  
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savidge4 10 years ago

1 more thing all this yacking about there is no standard conversion rate? REALLY?!?!?! Actually there are a few...3% is a given standard, and then it is broken down by industry, some are higher, and some are lower. But as an all around average YES 3% is the number to shoot for, or to be more accurate 2.9% ( is that better? )

What is the Average Conversion Rate? A 2013 Update - Search Marketing Standard Magazine | Covering Search Engines

Ecommerce conversion rates - Smart Insights Digital Marketing Advice

what are those? for goodness sakes we are talking internet, everything is tracked, just because YOU don't, does not mean others do not. your ROI must be crud, and you are in a state of denial about the whole thing.

.5% is 5 sales per 1000, you better be running real cheap PPC and have a expensive product ( by the way those 2 do not go together -cheap PPC and expensive anything- )

A PERSONAL example I sell RF Modulators on E-bay. On average I sell one for every six page views. that's a 16% conversion rate. Of course that example is very very very targeted traffic, not only are they there looking, they are there to buy!

Personally I sell Satellite based internet, again very targeted. if you are searching for it, you are probably going to buy it. My ONLINE conversion is 9%. My total conversion including tracked call center activity is 21.365% Which I might add is a about 10 points higher than what the average would be.

I'm not sitting here spewing crap, these are real world numbers. This is what I shoot for in all of my sales related activities. If I'm not getting a minimum of 3% I am sooooo doing something wrong! And for YEARS I was doing wrong. I worked my tail off to figure out how to get where my numbers are today.

Here is lesson one on how to increase your conversion: Make your call to action ORANGE

Hope that Helps!
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Convergence rates?

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