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What is revenue per visitor?
Revenue per visitor (RPV) is a business statistic used to calculate the total revenue generated by every website visitor. For eCommerce websites, this measure has become significant since it provides a full view of the worth every website visitor contributes to your company. It is a combined indicator that integrates average order value and conversion rate.
Revenue per visitor calculation
It is calculated by dividing the total earnings by the overall volume of website visits over a specific period.
RPV = Revenue / Visitors
Importance of revenue per visitor
Revenue per visitor is the most crucial indicator for assessing the strength of your digital brand image, which is universally accepted. Combined with other business indicators like conversion rate, RPV offers a functional overall analysis of what is and isn’t performing for your web store. RPV aids in your comprehension of the online activity of potential customers.
Strategies to improve the revenue per visitor
Many strategies and recommendations can raise an organization’s revenue per visitor, but no single piece of advice should be considered universally applicable. In actuality, a lower RPV does not automatically indicate a subpar-functioning website. Therefore, keeping each statistic about other data is frequently a wise strategy. Below mentioned are a few tips to improve the revenue per visitor:
Provide a seamless customer experience
A smooth consumer experience can be a stepping stone to boosting conversions. Ensure that there are no substantial interruptions to the purchasing process or needless procedures to follow before making an order. Remove unnecessary sections from online forms to ensure that users submit their orders.
By making the process simpler and starting by asking for an email address rather than various data, you may thereby increase the number of conversions.
Build credibility and provide social evidence
People tend to purchase products from trusted brands. In addition, during the purchasing process, customers frequently trust their peers. Every piece of supplementary information matters when making a selection online, including reviews and word-of-mouth recommendations. In short, if your website doesn’t already have a testimonials section, create one immediately.
Furthermore, there are numerous techniques to develop trust:
- Provide a refund guarantee
- Compile a list of key partners or clients who have relied on you throughout time, and display it clearly on your website.
- Ensure that clients have easy access to any information about your company, including the return and refund procedure.
- Be accessible and transparent.
A/B test to improve your text and CTAs
Examine your consumer market to see what is most effective. Try with various text and heading styles, accents, and orientations, and then stay with the ones that perform better, as seen through your A/B tests.
Minimize cart abandonment
Many visitors to your website add numerous products to their shopping baskets but never finish checking out. Adopt the following measures to resolve the issue of cart abandonment:
- Ensure that your shipping prices are clear and upfront throughout the purchasing process.
- Other efficient methods include personal engagement, guest checkout alternatives, and cart abandonment notifications.
Although not every cart abandonment problem can be avoided or fixed, retargeting can give you the advantage to win back these leads.
Product recommendations
Offering well-matched, highly-liked products that could fit well with the things in the customer’s cart is a clever business technique. Several options are
- Bundling products
- Upselling
- Cross-selling
Offer free delivery
This tactic encourages larger purchases while winning over budget-conscious shoppers.
Use a predetermined discount for orders with lower minimums
This not only aids in raising AOV but also ensures that the expense of transporting the purchase is justified for your company.
Conclusion
Revenue per visitor (RPV) is one of the most crucial and illuminating eCommerce KPIs. Conversion rate and average order value collectively provide a more comprehensive view of website activity without any blind spots. By using this indicator, you may more easily identify the areas of your website
