I’ve had many online entrepreneurs ask me what they think is a good conversion rate for online sales.
From my experience, to get even 1% is really difficult (that’s 1 buyer for every 100 visitors). I imagine the highest in any industry is like 3-4%. If I got 1%, I’d be a gajillionaire by now. I think 1 out of 1,000 (or even 1 out of 10,000) is more realistic and I do mean exactly that.
I’d probably break it down this way:
- 1 out of 1,000 are willing to buy something ($25-300 range)
- 10 out of 100 buyers are willing to spend $1k
- 1 out of 100 buyers are willing to spend way more than $1k
And the real moneymaker is in the non-buyers! They can help your business without ever buying.
Out of 1,000 visitors:
- how many like your site?
- trust your brand?
- think you are better than your competition?
- are willing to recommend you to others?