“Sales conversion” – Selling apples
Sales: your ultimate conversion
So why didn’t they buy? Everything was pointing in that direction.
Sales: your ultimate conversion
What is a good close rate?
The average close rates can differ significantly by industry. For example, according to hubspot the average close rate for biotech industry is 15% while the software industry around 22%, and the finance industry averages 19%.
Overall, the average close rate across industries shows around 20%.
Close rate benchmark per industry
Formula
Close rate = Number of sales /Total leads (in given timeframe)
In same way retail stores measure foot traffic by installing people counters at the entrance ecommerce measure visits to the website. With the shopping conversion rate you got the final metric to understand how well you are able to combine all your efforts in to sales.
The question is simply, how many visitors do actually make a purchase? How are you doing compared to industry standard?
What does the benchmark say?
Average eCommerce conversion rates typically range from 2.5% to 3%. Even when everything is done correctly, you shouldn’t expect to secure more than around 2% to 3% of sales.
A conversion rate above 3% is generally seen as a solid target to aim for.
Shopping rate benchmark per industry
Formula
Shopping conversion Rate = no. of transactions/ traffic x 100
Byebuy changes everything!
Byebuy is built generate result through all the three phases of the sales process click, customer attention and closure – it is built to make sales!
Byebuy encompasses the entire sales process, from the initial “Reach out” phase to maintaining customer attention and ultimately making the sale.
How Byebuy automatically increases your Close & Shopping rate
“Reach Out” is the critical first step to sales success. Using Byebuy you will successfully create awareness and interest, laying the groundwork for further engagement and conversion.
Here Byebuy has proven to generate exceptional CTR – the metric for online “Reach out”
As mentioned earlier, contrary to popular belief, the click or ‘Reach Out‘ is merely the beginning of the sales process. The next crucial phase is ‘Attention Span’ When using Byebuy, the promises made during the initial reach-out are seamlessly fulfilled, leading to naturally lower ‘Bounce rate’ and ‘Exit rates. At the same time, you’ll see increased time spent on your site and a higher rate of ‘returning customers‘.
With Byebuy, you will successfully reach out and automatically live up to customer expectations—key prerequisites for making any sales.
A click comes with customer expectations
Remember the value of a click is just a click and nothing more. So just as important it is to have a tempting reason for clicking, it’s needed that you live up to your message, “the promise”.
The message and secret weapon we use, which has proven to be the most effective way to reach out, is “Click to Win.” The funny thing is, what participants can win is the chance to buy your products or services. It may sound strange, but it works.
Byebuy automatically live up to customer expectations
This is where Byebuy shines—it’s designed to help you create engaging, no-fuss contests that keep customers interested and coming back, maximizing the value of their attention from start to finish.
Also meaning that your customers will spend longer time on site.
With Byebuy you don’t have to worry what happens after the click! Or what do you think of these result?
Byebuy is built generate result through all the three phases of the sales process click, customer attention and closure – it is built to make sales!
*Byebuy pricing model – you pay for lead & conversion ($0.2/ each)
But as always, it's all about the money!
You will increase your margins: Since only a limited number of customers receive the discount, not all of your revenues are negatively impacted. This helps in maintaining a healthier profit margin.
You will Increase of full price sales: Competitions motivate customers to make additional purchases. And also the natural trust and value you build generates a customer relationship with more loyal customers. Loyal customers are less price sensitive.
Cost-Effective Marketing: Running competitions is a cost-effective marketing strategy compared to offering blanket discounts, as it targets a smaller group and creates buzz without significantly impacting your margins.
“Reach Out” is the critical first step to sales success
