Statistics are sobering in the fact that you can’t refute them. Numbers don’t lie, and they should be used to shape your business. It’s easy to think that you operate in a vacuum and your business is somehow unique. It isn’t Your business follows these numbers just like every other one does. Those who make the most out of these numbers will reap the most significant rewards.
You should always keep track of everything when it comes to statistics. Anytime you’ve given an opportunity to gain information about your visitors you should take it. There is no part of the buying process that is not important. The smallest detail may unveil a problem in the process that keeps customers from buying.
The best way to use the following information is by applying it to your own site. Plus, sometimes you’ve got to keep things in mind that are true across the board. It can be easy to forget that we’re all in the same boat together. The numbers are universal in the sense that most people are experiencing the same thing as you. Sure, there may be small amounts of deviation here and there, but in general, everyone should expect similar results.
Over 67% of online sales will be made from mobile devices in 2019:
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Let that number sink in for just a minute. We chose this statistic first because it’s one of the most important. Depending on your age, you may still spend quite a bit of time behind a computer. Younger people today do almost all of their shopping via a mobile device. They are also the ones who spend the most money online.
Why is it so important that you pay close attention to your site’s mobile design? Simply put, almost 2/3 of your sales will come from mobile devices. You’ve got to make sure that your site loads correctly across all devices. That means you’re going to have to visit your website using a phone and a tablet. Every person who makes their living online needs to own a smartphone and a tablet computer. You can’t overlook the importance of mobile traffic when it comes to sales.
Making sure your site is responsive and displays correctly on all devices is vital. It’s also crucial that your site loads fast on all devices as well. Page speed is a factor that Google uses when ranking websites. You also need to understand that potential customers aren’t going to wait around all day for your page to load. If it’s slow, they’re just going to hit the back button and go elsewhere. You can’t take mobile design and speed too seriously. It will only continue to become important as time goes on.
Only 2.86% of e-commerce site visitors buy something:
How many times do you look at the number of unique visitors to your site and wonder why they aren’t buying? If you have a hundred visitors in your mind at least 50% of them should buy. Right? That’s not the way it works on the internet. There are a lot of people who do quite a bit of window shopping. You do this yourself, and it shouldn’t come as a surprise. But, it always is when you run a store. You look at those numbers and wonder why are so few of them buying. Surely there must be something wrong with the entire process from start to finish. There aren’t any problems at all.
You’ve probably seen those ads that seem to haunt you all over the internet. You visit a site one time, and for weeks and months, advertisements are begging you to go back. Another shocking truth is that most people who visit your site will never come back. So, don’t be surprised if only low single digits of visitors are buying. You also need to pay close attention to these statistics if you’re buying traffic. You’ll need to figure out how much each click is worth to understand if the traffic purchase is profitable.
69% of shopping carts are abandoned before checkout:
This is another one of those statistics that can blow your mind. The vast majority of shopping carts are abandoned before the checkout process is over. There is a multitude of reasons why someone begins the checkout process and doesn’t follow through. They may be seeing if there are any additional charges or want to know what the process of buying is. There is no way to have 0% of shopping carts be abandoned.
You will always have a reasonably high percentage of shopping carts that end up being left behind. That doesn’t mean you shouldn’t do more to see why they’re not following through on the sale. Even if you can decrease the numbers by a few percentage points, that could turn out to be serious money in the long run.
You can buy advertising as mentioned above to retarget those who failed to buy regardless of the reason. You should also take a look at the entire ordering process. It’s best to have fresh eyes look it over from start to finish. There may be something that you’re missing, and it’s causing customers to back out of buying. You are never going to do away with cart abandoning totally. But, even the smallest change can have significant results. This is undoubtedly true if you’re selling big-ticket items.
There are an estimated 1.92 billion internet customers:
Almost 25% of the world’s population buys things online. That number is only going to increase as time goes on. There isn’t a shortage of customers who are looking to spend their money. How many visitors a day does your site get? Some of you may have a successful store that receives thousands of visitors every day. No matter how many visitors your site receives, it’s only a small slice of the total amount of internet traffic.
Hopefully, you realize that even very targeted niche sites still can receive good amounts of traffic. The numbers themselves aren’t all that important as conversions should be more of a concern. Though, you have to realize that there is a plethora of traffic out there. Paid or free, there’s an almost endless number of people who want to see what you have to offer. It’s only a matter of you finding the best and most economical way of bringing those visitors to your site.
Online sales account for 13.7% of retail sales worldwide:
This is the most important number that you need to pay attention to. Why? Think about how much money is spent every day around the world. Almost 14% of the total sum is spent online. The number is expected to increase to 17.5% by 2021. That’s only two years from now. There are trillions of dollars of commerce taking place all over. Every single day billions are being spent on the internet. How much of that is your goal to make? Even those who are highly successful don’t put a dent in the overall amount of money that’s being made online.
There’s enough money being spent online for everyone to get their fair share. The tiniest of niches can be highly profitable for those who are willing to put in the effort. The numbers are enormous, and they’re only continuing to grow. Every day brick and mortar stores are being closed due to the impact of internet commerce. This is the space to be if you want to make serious money in the future.
The next time you feel down and out, remember this number. Realize that you can make it big on the internet. Don’t mistake these words for some overhyped guru pumping you up in hopes of selling you something. The truth is, there is so much money to be made online that it’s staggering. Jeff Bezos is the richest man in the world, and it’s because of the internet. While you may not become the next Jeff Bezos, there’s certainly enough room for you to make a comfortable living.
Believe in the numbers
The technology exists today to track a visitor to your site through the entire buying process. You can even follow them all over the internet if they don’t buy. If you are a beginner at running an e-commerce site, then all of this can seem very complicated. It really isn’t, and you’ve got to learn how to do it to be successful. It may be best to learn by taking a few courses in the beginning. While there is plenty of free information available online, find it can be a chore.
There are a few important takeaways from this information. The first being that the vast majority of people who visit your site will never buy anything. A large percent of people who begin the checkout process won’t follow through. The amount of people buying on the internet is staggering. Finally, the amount of money spent online every year is tremendous. It’s only going to increase as more people have access to the internet.
Every person who begins their journey into the world of internet marketing has the same struggles. It’s rare for anyone to come out of the gate and instantly become a millionaire. The average person fails far more times than they succeed. The hope here is that you understand that the numbers ensure success for those who are willing to risk failure. Think about how many times a baseball player is at bat compared to the number of home runs they hit. The number is shocking, and it would make some never pick up a baseball bat. Those who do are rewarded with the sound of the crowd cheering when they hit a home run.
The end game is worth it if you’re willing to put forth the effort. Try to find a method of keeping track of all the statistics from your site. See if they fall in line with what the average is. If they don’t, then tweak them. Seek outside help if it’s necessary. Don’t give up. Stay the course and allow the numbers to guide you to success.