How Do We Estimate Your Potential Revenue Increase?
A typical ecommerce store conversion rate (orders / visitors) is approximately 3%.
If, for an average store, 67% of visitors who add something to their cart then abandon it, it follows that approximately 9% of visitors to the average ecommerce store will add something to their cart.
9% (who add items to their cart) - 3% (who complete their order) = 6% (who abandon their cart)
So, to calculate the potential revenue that you can potentially recover...
- We take your daily # visitors x 30 (to get a monthly value)
- We multiply that result by your average order value and then by 6% (to get the estimated value of abandoned carts per month)
- We multiply the abandoned carts value per month by the % that you estimate you will recover each month
... and that gives you the $ value that you can potentially recover every month