hostpath.com
04-28-03, 09:40 AM
First, consider your conversion rate. Identifying your conversion rate is critical in determining how effective your promotional efforts are, and in deciding if your site has sales barriers.
So what IS your conversion rate? And if you don't know, why not?
In 2002 Jared Spool conducted a study in which participants listed things they wanted to buy. Spool provided the study participants with access to Web sites that sold the products they wanted AND the money to buy the products. Yet only 30% of those given the desire, direction, and means to purchase were able to actually complete the sale. 70 out of 100 people who wanted to part with the cash couldn't do so, even though they wanted to.
What are your barriers, if any?
So what IS your conversion rate? And if you don't know, why not?
In 2002 Jared Spool conducted a study in which participants listed things they wanted to buy. Spool provided the study participants with access to Web sites that sold the products they wanted AND the money to buy the products. Yet only 30% of those given the desire, direction, and means to purchase were able to actually complete the sale. 70 out of 100 people who wanted to part with the cash couldn't do so, even though they wanted to.
What are your barriers, if any?