A website’s conversion rate represents the percentage of users that complete a desired action compared to the total website visitors. Depending on the business model, a conversion can take many forms. For example, in B2C ecommerce websites, conversions are typically purchases.
However, in B2B marketing, a conversion might be filling out a form or signing up for emails. That being said, a major goal of digital marketing is to increase a website’s conversion rate.
According to Geckoboard, the average conversion rate across all industries ranges from about 2% to 5%. However, ecommerce conversion rates, in particular, come in lower at 1.8-3.7% on average, while the average B2B conversion rate ranges from 2.2-4.3%.
Just as the types of conversions differ by industry, there are different industry benchmarks for a “good” conversion rate. It’s important to know your industry's average conversion rate to understand better where your brand falls in the competition.
We looked for the latest data on conversion rates by industry and landed on two main sources: FirstPageSage and IRPcommerce. To start, let’s look at B2B conversion rates by industry:
FirstPageSage conducted research over the course of a decade working with B2B clients related to conversion rates. The research yielded an average conversion rate for 25 B2B industries. The table below shows the values for each industry, followed by a graphical representation.
|
Industry |
Average Conversion Rate |
|
Addiction Treatment |
2.10% |
|
B2B SaaS |
1.10% |
|
Biotech |
1.80% |
|
Commercial Insurance |
1.70% |
|
Construction |
1.90% |
|
Engineering |
1.20% |
|
Environmental Services |
1.30% |
|
Financial Services |
1.90% |
|
Heavy Equipment |
1.70% |
|
Higher Education & College |
2.80% |
|
HVAC Services |
3.10% |
|
Industrial IoT |
2.60% |
|
IT & Managed Services |
1.50% |
|
Legal Services |
7.40% |
|
Manufacturing |
2.10% |
|
Medical Device |
1.50% |
|
Oil & Gas |
2.60% |
|
PCB Design & Manufacturing |
2.30% |
|
Pharmaceutical |
1.90% |
|
Real Estate |
2.80% |
|
Software Development |
1.10% |
|
Solar Energy |
1.80% |
|
Staffing & Recruiting |
2.90% |
|
Transportation & Logistics |
1.40% |
IRPcommerce provides a handy tool for looking at the latest B2C conversion rate data by industry. According to this source, the average ecommerce conversion rate for September 2023 is 1.99%, which is up from 1.73% in September 2022.
The tool allows users to look at 12 industries in detail. Not only does it show the current ecommerce conversion rate, but you can also compare it to the previous year. The table below summarizes the 12 industry trends.
|
Industry |
September 2023 |
September 2022 |
|
Arts and Crafts |
5.19% |
3.90% |
|
Baby and Child |
0.85% |
1.08% |
|
Cars and Motorcycling |
1.52% |
1.13% |
|
Electrical and Commercial Equipment |
1.59% |
0.73% |
|
Fashion, Clothing, and Accessories |
1.73% |
1.58% |
|
Food and Beverage |
1.22% |
1.35% |
|
Health and Wellbeing |
4.18% |
3.88% |
|
Kitchen and Home Appliances |
3.01% |
2.49% |
|
Pet Care |
2.17% |
1.38% |
|
Toys and Games |
1.32% |
1.31% |
|
Sports and Recreations |
1.48% |
1.37% |
|
Home Accessories and Giftware |
1.48% |
0.98% |
It’s important to note that even within the same industry, the average conversion rate can vary greatly. Previously, we covered the average SaaS conversion rate and how it varies by factors like marketing channel, pricing model, and target audience.
Optimizing a website’s conversion rate can take many forms. Hubspot identified target pages for implementing CRO strategies, including the home page, pricing page, blog, and landing pages. With the launch of GA4, learning how to explore funnels and paths is essential for conversion rate optimization. It might be daunting to jump into this by yourself, but luckily Hire a Writer can help. Our team offers content marketing expertise to optimize your website’s conversion rate and SEO analytics solutions to track progress. To find out more, contact Hire a Writer today.
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