Conversion Rate Fail
At Nordstrom, we had the "3-2-1 Rule" for our 1,000,000+ multichannel customers.
- Three Monthly Website Visits.
- Two Monthly Store Visits.
- One Monthly Purchase, 85% of the time in a store, 15% of the time online.
- Online Conversion Rate = (15% of one monthly order happening online) / (3 visits) = 5%.
- True Monthly Customer Conversion Rate Across Channels = 100%.
Always keep the mind open to the possibility that we're not actually measuring reality with the tools we've been given.
1 Comments:
Thanks for the excellent points. I have forwarded the link to your blog to EmailCharger.com customers. Keep it coming :)
Post a Comment
Links to this post:
Create a Link
<< Home