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2. You also noted that the effectiveness of conversion marketing is measured by the conversion rate, the second variable that you need to track and analyze to determine the target market. The conversion rate is the percentage of new users who were engaged in an online transaction. In other words, conversion marketing is the act of transforming website visitors into paying clients. In case the conversion rate is low, you suggest some practices to improve it. For example, if a prospect abandoned a cosmetic item in the online shopping cart, then the clinic may offer a special (or targeted) offer, such as free shipping, or chat online with the visitor to answer questions or concerns in an attempt to convert him or her into a paying customer. Using user-generated ratings and reviews to transform visitors' concerns into assurances may also increase conversion rates. Conversion marketing is a beneficial way to enhance not only conversion rates, but also website traffic and online revenues and profits. According to various age groups, you calculate the conversion rate by dividing the number of users who were engaged in transactions by the number of new users. Using the data in Figure 1, what did you find? O 15, 23, 10, 10, 10, 4 O 15, 25, 12, 12, 12, 2 O 25, 20, 12, 16, 18, 8 O 20, 23, 10, 10, 10, 6 es Figure 2: Gender, bounce rate, and conversion rate Acquisition Online Behavior Purchase Users Who Viewed User Duration (on avg.) in Seconds 90 Users Who Were Engaged in a Transaction 50 500 Pages Viewed per User Ecommerce REVENUE Conversion Rate Bounce Gender All Users New Users Only One Page 200 400 Rate 2000 4000 Male 500 $15,000 $35,000 3. Female 1900 4 140 3. If you drill into the target age group, what would be the bounce rates for males and females? (Use the data in Figure 2.) B Users Who Viewed Only 1 Page Users Who Were Sex New Usern Bounce Rate Ecommerce Engaged in a Transaction Conversion Rate Male 3 Female 82, 32 O 40, 34 O 82, 34 O 40, 21

2. You also noted that the effectiveness of conversion marketing is measured by the conversion rate, the second variable that you need to track and analyze to determine the target market. The conversion rate is the percentage of new users who were engaged in an online transaction. In other words, conversion marketing is the act of transforming website visitors into paying clients. In case the conversion rate is low, you suggest some practices to improve it. For example, if a prospect abandoned a cosmetic item in the online shopping cart, then the clinic may offer a special (or targeted) offer, such as free shipping, or chat online with the visitor to answer questions or concerns in an attempt to convert him or her into a paying customer. Using user-generated ratings and reviews to transform visitors' concerns into assurances may also increase conversion rates. Conversion marketing is a beneficial way to enhance not only conversion rates, but also website traffic and online revenues and profits. According to various age groups, you calculate the conversion rate by dividing the number of users who were engaged in transactions by the number of new users. Using the data in Figure 1, what did you find? O 15, 23, 10, 10, 10, 4 O 15, 25, 12, 12, 12, 2 O 25, 20, 12, 16, 18, 8 O 20, 23, 10, 10, 10, 6 es Figure 2: Gender, bounce rate, and conversion rate Acquisition Online Behavior Purchase Users Who Viewed User Duration (on avg.) in Seconds 90 Users Who Were Engaged in a Transaction 50 500 Pages Viewed per User Ecommerce REVENUE Conversion Rate Bounce Gender All Users New Users Only One Page 200 400 Rate 2000 4000 Male 500 $15,000 $35,000 3. Female 1900 4 140 3. If you drill into the target age group, what would be the bounce rates for males and females? (Use the data in Figure 2.) B Users Who Viewed Only 1 Page Users Who Were Sex New Usern Bounce Rate Ecommerce Engaged in a Transaction Conversion Rate Male 3 Female 82, 32 O 40, 34 O 82, 34 O 40, 21

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. You also noted that the effectiveness of conversion marketing is measured by the conversion rate, the second variable that you need to track and analyze to determine the target market. The conversion rate is the percentage of new users who were engaged in an online transaction. In other words, conversion marketing is the act of transforming website visitors into paying clients. In case the conversion rate is low, you suggest some practices to improve it. For example, if a prospect abandoned a cosmetic item in the online shopping cart, then the clinic may offer a special (or targeted) offer, such as free shipping, or chat online with the visitor to answer questions or concerns in an attempt to convert him or her into a paying customer. Using user-generated ratings and reviews to transform visitors' concerns into assurances may also increase conversion rates. Conversion marketing is a beneficial way to enhance not only conversion rates, but also website traffic and online revenues and profits. According to various age groups, you calculate the conversion rate by dividing the number of users who were engaged in transactions by the number of new users. Using the data in Figure 1, what did you find? ০15, 23, 10, 10, 10, 4 O 15, 25, 12, 12, 12, 2 O 25, 20, 12, 16, 18, 8 O 20, 23, 10, 10, 10, 6 es Figure 2: Gender, bounce rate, and conversion rate Acquisition Online Behavior Purchase Users Who Viewed User Duration (on avg.) in Seconds 90 Users Who Were Engaged in a Transaction 50 500 Bounce Rate Pages Viewed per User Ecommerce REVENUE Conversion Rate Gender All Users New Users Only One Page 200 Male 2000 500 $15,000 $35,000 3. Female 4000 1900 400 4 140 3. If you drill into the target age group, what would be the bounce rates for males and females? (Use the data in Figure 2.) A B Users Who Viewed Only 1 Page Users Who Were Ecommerce Conversion Rate Sex New Users Bounce Rate Engaged in a Transaction Male 3 Female 82, 32 O 40, 34 O 82, 34 O 40, 21
Transcribed Image Text:2. You also noted that the effectiveness of conversion marketing is measured by the conversion rate, the second variable that you need to track and analyze to determine the target market. The conversion rate is the percentage of new users who were engaged in an online transaction. In other words, conversion marketing is the act of transforming website visitors into paying clients. In case the conversion rate is low, you suggest some practices to improve it. For example, if a prospect abandoned a cosmetic item in the online shopping cart, then the clinic may offer a special (or targeted) offer, such as free shipping, or chat online with the visitor to answer questions or concerns in an attempt to convert him or her into a paying customer. Using user-generated ratings and reviews to transform visitors' concerns into assurances may also increase conversion rates. Conversion marketing is a beneficial way to enhance not only conversion rates, but also website traffic and online revenues and profits. According to various age groups, you calculate the conversion rate by dividing the number of users who were engaged in transactions by the number of new users. Using the data in Figure 1, what did you find? ০15, 23, 10, 10, 10, 4 O 15, 25, 12, 12, 12, 2 O 25, 20, 12, 16, 18, 8 O 20, 23, 10, 10, 10, 6 es Figure 2: Gender, bounce rate, and conversion rate Acquisition Online Behavior Purchase Users Who Viewed User Duration (on avg.) in Seconds 90 Users Who Were Engaged in a Transaction 50 500 Bounce Rate Pages Viewed per User Ecommerce REVENUE Conversion Rate Gender All Users New Users Only One Page 200 Male 2000 500 $15,000 $35,000 3. Female 4000 1900 400 4 140 3. If you drill into the target age group, what would be the bounce rates for males and females? (Use the data in Figure 2.) A B Users Who Viewed Only 1 Page Users Who Were Ecommerce Conversion Rate Sex New Users Bounce Rate Engaged in a Transaction Male 3 Female 82, 32 O 40, 34 O 82, 34 O 40, 21
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