E-commerce Conversion Rate (TCE) is an indicator that demonstrates the number of times that the sum of visitors to your virtual store closed sales in a period of time.
Like mark-up and ROI, the TCE can be expressed using a formula, note:
As an example, let's assume that your online store had 20.496 visits in the last month and closed 284 sales. Applying the TCE formula, we have:
In the example, the value of 1,38% represents the sales conversion rate of your e-commerce in the last month. However, to reach the average TCE index in Brazil (which is 1,65%, according to consultancy Experian Hitwise) the e-commerce in our example should have made at least 338 sales in the month with the same number of visits.
As you can see, TCE is a very important indicator for your e-commerce, as it gives you a performance goal in relation to your competitors. In this context, staying above average is essential.
Now that you know what TCE is and how important it is, here are some tips to improve this index and beat your competitors:
Optimize your sponsored link campaigns.
Improve the usability of your online store .
– Use Neuromarketing and persuasion techniques appropriately.
– Conduct A/B testing to identify and utilize the best opportunities.
Basically, everything implemented in your online store aims to improve the sales conversion rate. This is work that must be done continuously, as customers change their habits.
