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Ask HN: How can I estimate my conversion rate?
I am very near launching a rental service. I did a few $100 Google Adwords experiments, in which the ad was exactly what I was renting along with the price. I got a bunch of clicks at an average of $2-4 per click, so I know I can get clicks. The problem is, I have no idea how many of those are going to convert to sales. I'm hoping that because I'm announcing my product and price in the ad that I won't waste a lot of money on window shoppers. Anyone have any experience with this stuff? How many sales per click are you making?
Thanks for any advice,
Kevin
- petervandijck 16y agoIt's almost impossible to know until you try it. It depends a lot on how good your offer is, and how good your site is. A rough guideline would be: expect between 2 and 10% of people. Which in your case would mean that the cost to acquire a customer would be between 20 (2 x 10) and 200 (20 x 50) US$ per purchase, which is fairly typical for, say, a consumer subscription product. It all depends though, on what you're renting out etc. You just have to try it.
- endlessvoid94 16y agoJust try it.