Conversion Rate Benchmarks


Last updated April 2024

In Q1 2024, the average Conversion Rate was 4.25% (averaging across all countries, platforms, and industries) according to our research.

This overall average benchmark is limited in its usefulness. To find results more relevant to yours, use our Conversion Rate Benchmark Tool to check the performance of your channels against thousands of other marketers.

Compare your recent conversion rate to relevant trends, and find out if your performance is being affected by something other than your own work.

 

Top Tip: Conversion Rate is a better measure than the number of conversions as it can be used to compare campaigns with different costs & reach directly.

 

Conversion Rate Benchmark Tool

Use the drop-downs to filter results so that you can compare your results to those similar to you.

 

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Instructions (click to expand)

When using the drop-downs:

  • Filter results by Country, Industry and Channel. When you leave filters to the default “All” position, the benchmark will include results from people who did not specify anything for that field (eg “All Industries” will include all the industries listed in the drop-down, as well as data from where the industry field was left blank).
  • Choose a single option by clicking the “Only” button next to any choice.
  • Select multiple options at once. Untick the “All” tickbox then tick the box by each option you would like to see included in the data.
  • Reset all filters.  Tick the top tickbox by clicking the “All …” tickbox.
  • To close a filter drop-down menu. Click elsewhere within the benchmark tool.


Notes:

  • Compare your results to the benchmark by using the Conversion Rate calculator in the left-hand column (desktop only)
  • As the above figures are self-reported we use multiple filters and levels of analysis to ensure the data is useful.
  • More options to break down the benchmark further (including by more countries) are coming as we gather more data.
  • We only show data with enough data points to make it useful. If you filter results it may make other filters unavailable.
  • The current quarter only contains data up to the end of last month.
  • If you notice this benchmark has stopped working, please let us know.

 

How should I use this benchmark?

The best use of this benchmark is as context for your results - if your conversion rate is following a general trend then that is useful to know.

For example, if your conversion rate goes down suddenly one month and you see that this is repeated elsewhere, then perhaps it was not your campaign tanking but instead an economic issue out of your control.

Similarly, if your conversion rate suddenly becomes really good one month (but so is everyone else's), then perhaps your latest sales promotion is less effective than it seems.

Adding benchmarks to reporting and forecasting can be very illuminating.

 

How do I compare my results to these benchmarks?

If you want to compare your results directly to the above benchmark, here is a simple guide to help you. If your results are...

  • above the Top 25% figure, you should be very pleased
  • above the Average Conversion Rate figure, you should be slightly pleased
  • below the Average Conversion Rate figure, you should be slightly disappointed
  • below the Bottom 25% figure, you should be very disappointed

Most results occur between the top 25% and bottom 25%, so if you are somewhere in the middle you are more or less doing ok.

Again, please note that the best benchmark is always your past performance. If you performed better compared to the same time last year then that is important. This benchmark is more useful for context than a direct comparison.

 

What do percentiles mean?

We included the 25th percentile (bottom 25%) and the 75th percentile (top 25%).

These work by putting all the conversion rates in order from smallest to largest, then choosing the numbers that are 25% from the bottom and 25% from the top.

We include these top and bottom 25% markers for a few reasons:

  • Most results occur between these top and bottom markers. If you are within this range, your campaigns are performing more or less as expected.
  • If you are performing below average then it is useful to know how far below it you can be before you should be concerned.
  • If you are performing above average then it is useful to know how much you should be celebrating.
  • If you are particularly good (or bad) at marketing, then comparing yourself to the average probably isn't that helpful. By providing these extra sets of data, you can compare your results to benchmarks more relevant to yourself.

 

How is Conversion Rate calculated?

Conversion Rate is calculated by taking the number of conversions you have received and dividing that by the number of opportunities there were for a conversion. This can mean either clicks (if you are measuring an ad or link) or visits (if you are measuring a page).

The Conversion Rate equation is:

 

Conversion Rate Equation

Conversion Rate = (conversions ÷ clicks) x 100

 

Conversion Rate is a simple way to gauge success levels. If a piece of content or an ad is driving a high percentage of people to convert, then it is likely displaying the right message at the right time to the right people.

 

Top Tip: The best benchmark is always your own past performance. Use this benchmark tool to add context and compare trends.

 

Find out more

 

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