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Order-of-magnitude.Conversion rate benchmarks dam conceptBesides, “B2B” as a vertical?We’re pretending that, say, lead gen for architecture firms is so similar to enterprise scheduling software for Boeing that a single, apparently fine-grained, benchmark can circumscribe both? And would selling a SAAS product to law firms count as B2B, or “legal”?On the other-hand, you can’t simply “pick one and go with it”Here’s a familiar, and equally annoying, canard from the other sideof the argument…Conversion rate benchmarks barriers to entryIt “doesn’t matter” what a good conversion rate is?Just “pick one and improve it”?There are two big reasons that’s a bad idea: diminishing marginal returns and opportunity cost.
Diminishing returns means sometimes one unit of effort will produce Benin WhatsApp Number one unit of reward, like accelerating a car from zero-to-30, when there’s low air resistance. But in other contexts one unit of effort will produce far fewer returns, like trying to accelerate a car from 100-130, when every extra ounce of speed requires way more energy than going from zero-to-30, because of friction and wind-resistance.It’s the same thing in your funnel.If you’ve got a 1% opt-in rate from the front page, I don’t care what industry you’re in: there’s an opportunity for a big win for just a little time spent on your design and copywriting.
However, you’re converting at 25% for sales from a webinar, I can promise you that every extra percentage point is going to require a lot of time and effort.Opportunity cost means that in the real world, you can’t pursue all strategies at once: time and money are limited. That means every hour you pay your team to work on one problem is an hour they can’t be working on something else.What if spending time and money improving one metric causes you to ignore another one that could be a bigger win?Bottom line: You need something to tell you whether small efforts optimizing a particular part of your funnel are likely to yield large rewards, or if it’s the other way around.Conversion rate benchmarks Sir Thomas BayesTo accomplish this, let’s borrow a page from Sir Thomas Bayes.
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發表於 11:38:52