The conversion rate is one of the most important metrics and indicators of whether your marketing is effective or not. Nowadays many Shopify businesses wonder what is the optimal conversion rate or how to increase their Shopify conversion rate. We are going to share the Shopify Facebook conversion rate benchmarks for 2023 and our tips for increasing your conversion rate.
The conversion rate is a metric that indicates what percentage of your website visitors end up purchasing your product or service.
In general, a conversion can be referred to any action that you want your users to take. This can be anything from making a purchase to clicking on a button or submitting an email. Businesses have different goals and therefore choose to track different or even multiple conversion goals.
How to calculate Shopify conversion rate?
To calculate the conversion rate you simply take the total number of conversions (purchases) and divide it by the total number of website visitors, during the same time period. So for example, let’s say you generated 60 conversions out of 1000 website visitors. In this case, your conversion rate would be 6% since 60:1000 x100 = 6%.
What is the average Shopify store conversion rate for Facebook ads?
To give you an accurate answer to this, we analyzed the conversion rate for over 1500 Shopify stores during 2023. What we also took into account is the conversion rate per Facebook campaign type. So essentially, we analyzed the conversion rate for retargeting and prospecting campaigns. Here’s what we’ve found:
When looking at the graph below, you can see the weekly conversion rate for retargeting campaigns during 2023. The average conversion rate across all industries on facebook retargeting campaigns is 4.02%.
You can see there has been a drop in the conversion rate with the start of 2023. This is completely natural considering that in January people tend to spend less since the holiday season is over.
On prospecting campaigns, so far the average conversion rate is 1.00%
What is a good Shopify store conversion rate for Facebook ads?
Now you’re familiar with the average conversion rate for Shopify stores on prospecting and retargeting campaigns. So, what’s generally considered a high and low CR?
According to our data and based on stores that have an average order value (AOV) of $50, a low conversion rate on retargeting campaigns would be anything that’s equal to or lower than 3.7%. A good conversion rate on retargeting campaigns would be anything that’s equal to or higher than 15%. On the other hand, for prospecting campaigns, a low CR would be anything lower than 0.96%, while anything over 4% would be considered a high CR.
What is the cart conversion rate?
The add-to-cart conversion rate or cart conversion rate tells you what percentage of your website visitors added something to their cart.
After analyzing our data, we’ve found that the average cart conversion for Shopify stores in 2023 is 18.27%. If you’re not sure what your add-to-cart rate is, you can easily see it in the Lebesgue: Smarter Marketing app. You’ll actually be able to analyze each step in your checkout process and compare it to our benchmarks. That way you can truly understand where you have the most opportunities for improvement.
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How to improve your Shopify conversion rate
There are many reasons why your conversion rate might be low. The key thing is to pinpoint which things on your website or marketing strategy are not performing well and are not set up correctly. From that, you can start making adjustments and tackle the right problems. Below are some of the key things you want to make sure that you’re following. If you’re interested in getting a more detailed overview of your website and marketing performance, check out our Smarter Marketing app.
1. Add social proof on your website
Customer reviews and generally, any type of social proof, should be a core part of your website.
When implemented properly, they can certainly help improve your Shopify conversion rate due to improved trust and confidence. Generally, it’s best to display your reviews on your product pages, below your product description, but you can also place them on your homepage.
If you have recently started a Shopify website and have no user validation yet, Reputon Customer Reviews is a great way to get an instant boost to your social proof. Send automated follow-up email Google, Trustpilot, Yelp review requests just in time when your clients receive orders.
When your reviews and ratings grow fast on auto-pilot you are getting a double profit – increasing your brand loyalty and getting a better ranking on different search engines. They love when the merchant is mentioned on 3rd party platforms and has a great score there.
2. Optimize for mobile
Did you know that people who have a negative experience on mobile are 62% less likely to make a future purchase? Pretty crazy, right?
Nowadays the vast majority of people shop from a mobile device so it’s crucial to have a well-optimized and mobile-friendly website.
If you’re not sure whether your website is mobile-friendly or not, there’s actually a pretty easy way of testing it. Google Search Console has its own tool in which you can test how easily a visitor can use your page on a mobile device. Just enter your website URL to see how your page scores.
3. Keep your primary CTAs above the fold
You should always place your primary call to actions somewhere above the fold so that your website visitors can immediately notice them upon landing on the page.
The main purpose of each CTA is to encourage visitors to take a specific action – whether it’s adding an item to the cart or purchasing.
According to a recent Google study, the content that was placed above the fold had a 73% visibility, while those below the fold had just 44%. This just proves the importance of the CTA placement so if you haven’t already, make sure to check your website and optimize your CTAs.
Want more tips?
If you’re struggling to improve your Shopify conversion rate or want to get more tips on how to improve your marketing performance, we recommend checking out our blog and Shopify app.
Our Lebesgue: Smarter Marketing app has already helped thousands of Shopify businesses improve their marketing and store performance, so why not yours? Take advantage of the 14-day free trial and start making smarter marketing decisions today.
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