Trying to figure out exactly where all your traffic is coming from, and which source of traffic is most likely to actually purchase something, is extremely valuable information. Companies spend billions of dollars on advertising but does that spend convert into sales or at least visits?
We analyzed data from Priceonomics customer Heap, an analytics company, and looked anonymized data on which advertising campaigns were most effective at driving customer acquisition. We examined advertising spending on the major tech platforms like Google, Facebook, Youtube, Snapchat, Bing, Pinterest, and Twitter across a diverse set of ecommerce businesses and five million anonymized visits.
Would social media websites drive more traffic than search engines? Which websites have a higher conversion rate from visitor to customer? Does the average shopping cart size affect the conversion rate?
Ultimately, we found that search engines like Google and Bing had the highest customer conversion rates, at around 8%, a conversion rate over 1.5 times higher than Facebook’s.
Shopping carts that were less than $200 had higher conversion rates than larger shopping carts across all websites. Google had the highest conversion rate for purchases that were less than $200, while Bing had the highest conversion rate for purchases that exceeded $200. Lastly, social media like Facebook and Snapchat drove the most traffic, accounting for between 13-14% of website visits, but also had the lowest conversion rates.