E-commerce sales conversion rate for the retail website

This measure calculates the percentage of online shoppers who complete a sales transaction on the website. It is calculated as the total number of transactions on the company website divided by the total number of visitors to the website. It is part of a set of Process Efficiency measures that help companies optimize their "manage sales orders" process by minimizing waste and refining resource consumption.

Benchmark Data

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Measure Category:
Process Efficiency
Measure Id:
106133
Total Sample Size:
78 All Companies
Performers:
25th
– Median
– 75th
–
Key Performance
Indicator:
Yes

Compute this Measure

Units for this measure are percent.

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E-commerce conversion rate for the business entity website

Key Terms

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Process efficiency

Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.

Median

The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.

Measure Scope

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Cross Industry (7.3.0)

  • 3.5.1.8.1 - Perform sales calls (10190) - Communicating with customers and prospects with the intent of creating sales opportunities. Reach out to existing and prospective customers through alternate media and networking channels, apart from cold calling/emailing.
  • 3.5.1.8.2 - Perform pre-sales activities (10191) - Capitalizing on sales calls by pitching on bids and closing deals. Outline the nature and scope of the work, draft agreement terms, prepare proposals and agreements, and propose timelines and prices.
  • 3.5.1.8.3 - Manage customer meetings/workshops (20012) - Arranging and leading meetings, seminars, workshops and training events with customers to educate them about current offerings, best practices and technological advances to provide more value to customers and to increase their attrition and loyalty.
  • 3.5.1.8.4 - Close the sale (10192) - Formalizing a sale by reaching an agreement on terms of the deal. Negotiate on the price, and reach a consensus on the terms and conditions.
  • 3.5.1.8.5 - Record outcome of sales process (10193) - Completing all the paper-work associated with the sale of its products/services. Exchange any pertinent legal/financial information required for completing the sale, signing of a contract/work-order, and issuing copies of bills/invoices.