| By Jim Bruene on April 29, 2005 1:31 AM | Comments (0) |
Disappointed in your conversion rates on prospects attracted to your site via search (paid or natural)? Compete and Yahoo Search Marketing (formerly Overture) released results of new research at the recent Net.Finance conference.
The study looked at a pool of 75,700 searchers who conducted 250,000 financial information searches. Of that total, just 5,640, or 7.5%, ended up submitting an application for a financial product. Since they are often looking at more than one provider, your "expected" share would be less than 7.5%.
So if you are closing 5% or more of your visitors, you are hitting it out of the park. Even a 3 or 4% close rate is exceptional. On the other hand, if you are closing 2% or less, your creative and/or offer may be lacking.
--JB
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