“Our conversion rate, 3.1% is considered pretty good in our industry.”
This eCommerce owner told me and I replied:
“Where did you get that number from?”
“From the Shopify website. It’s like the standard for the industry.”
Since when we settle for the standard?
If you compare your conversion rate (or whatever metrics) to the “industry-standard”, are you telling yourself your product is just average?
Since when we settle for being average?
The best players in the field never compete with others.
They compete with themselves.
Don’t look at your conversion rate, look at the gap instead.
The gap between your Actual Value and the Perceived Value.
If people are not perceiving your Actual Value on your website, then there’s room for improvement in the conversion rate.
It’s that simple.
Don’t optimise conversion rate, optimise the Value Perception.