In recent years, eCommerce has evolved dramaticall and it has gradually become a potential market for businesses. E-commerce can help businesses reach more customers and eliminate all barriers of geography and time. The amount of traffic is one of the criteria for evaluating the success of an ecommerce website. More traffic it means that you will have more potential customers or more opportunities to selling products.
Normally, SEO is an effective way to get more traffic. However, since social media are becoming popular so it has become an important traffic source beside the traffic from seo and other marketing channels. To learn more about that, let’s take a look into an ecommerce benchmark report from Yotpo, which was built with the data was pulled from 65 million orders and 2 billion transactions across 120,000 eCommerce stores.
According to the report, we will analyze some aspects of ecommerce traffic: traffic quality and quantity, mobile vs non-mobile traffic, value of customer loyalty and impact of reviews.
Traffic Quality and Quantity
Today, the social media is an effective channel for marketing and sale, so the medium and small businesses are trying to take advantage of the benefits that social media brings. There is a huge amount of traffic coming from social networks. But in fact, the direct, search and referral traffic still beat social traffic in percentage with 40%, 34% and 10% respectively.
However, we can not deny that traffic from social is quality traffic. Instagram is an example, it beating email, direct and referral traffic to become the leading traffic source for an average time on site.
Mobile vs Non-Mobile
There are many people, who often use the mobile devices to access and browsing website. However, mobile traffic (38%) is still close to half of non-mobile traffic. Non-mobile traffic still accounts for a large proportion of total traffic but the gap between the two (Mobile vs Non-mobile) is closing year on year.
In business, 38% is not a small number; businesses still need to be optimized for mobile to take advantage of 38% of potential sales. Mobile is still a huge trend and it can be golden key to make a breakthrough for online businesses.
How much is Customer Loyalty Worth?
Customer retention is extremely important for every business. The returning customers are more likely to spend with you more than once, because trust has been built. The data shown that in 2014, repeating shoppers spent over £250 million out of a total £950 million.
According to the report, the repeat shoppers accounts for 15% of all customers, it’s not an impressive sound but we should know that they do account for one-third of the total spend and the study showed that returning customers spend 2.92x more than a one-time buyer.
The Power of Reviews and Ratings
Perhaps all we know that reviews and good ratings can increase conversion rates. Use social media to share communities’ reviews on products/services is a great way to improve conversion rate. In fact, LinkedIn, Twitter and Facebook conversion rates are much higher than the average industry standard of 2% when reviews are shared. Twitter is the leader at a 6% conversion rate.
With this Yotpo’s ecommerce benchmark report, we can see that mobile and social media have and will continue to change eCommerce. The reviews and rating on products/services are extremely important and do impact a buyer’s purchasing decision.
Hopefully this article will give you useful information!