In one of our earlier insights, we showed how the rise of the CLV-ROI approach is changing eCommerce business models. But let’s get right to the point of this marketing insight: Turning your customers into loyal fans requires you to first convert visitors into customers.
This is why we understand conversion rate (CR) as the most fundamental metric in eCommerce. Without a honed CR, you just run a website. Here’s why.
What is the Conversion Rate?
In an increasingly competitive eCommerce world, there are some dos and don’ts when it comes to encouraging customers to buy items from your business. This act is called a conversion, and it’s just about the most important metric you’ll need to watch as you plan on building your business and increasing revenue.
CR is the percentage of visitors landing on your website who complete a desired action.
In eCommerce, conversion means the percentage of we… Read More