Checkout conversion is the process of converting visitors into buyers during the checkout process. An optimized checkout reduces abandonment rates and increases sales by providing a seamless user experience. Discover effective strategies to improve your checkout conversion rate.
Every sales process, such as selling an information product , involves finland mobile database steps, just as the customer also has a purchasing journey. In this context, there are several details involved that can affect both checkout conversion and approval rate. These two metrics help you understand your business results and point to successful transactions or deficiencies that end up hindering sales.
In this article, we will talk about what purchase conversion is and how it differs from the approval rate, as well as explain how these metrics make all the difference when evaluating the performance of your online business.
What is checkout conversion?
two cell phones, one with money, the other with a cart
The checkout conversion rate, in short, is the number of people who completed the purchase process divided by the number of people who accessed the checkout. For example, if 800 people accessed the checkout and 700 placed an order, the calculation would be: 700/800 = 0.875. Therefore, the checkout conversion rate would be 87.5%.
However, many people, when trying to understand what checkout rate is, confuse it with approval rate. Therefore, in the next topics we will address the differences between the two metrics.