Conversion Analysis offers a comprehensive view of the conversion data for websites, retailers categories, and lines of business.
By leveraging conversion insights of competitor websites, you can benchmark your site's performance, discover what's working for your competitors and across the industry, and build top-notch strategy.
Conversion analysis is a critical part of any marketing strategy. By understanding the customer conversion funnel, discovering which search keywords and marketing channels are driving traffic, and spotting new trends, you are able to optimize your strategy. And, the hidden gem is discovering and leveraging what's working for your competitors.
Similarweb provides a unique view of your competitor's conversion performance and strategies. This allows you to:
Understand a companies’ conversion efficiency and scale over time.
Benchmark your conversion data against the competitors and the industry average
Identify efficient marketing channels to uncover companies’ go-to-market strategy, and understand the ROI of their marketing spend.
Reveal the category performance of top retailers like Amazon, Walmart, and Target.
Gain visibility into what consumers are searching for within websites and how well different keywords convert.
Drill into consumer journey behaviors with on-site search and marketing channel conversion data to improve your customer acquisition and digital marketing strategy.
From Conversion Analysis, click Create a New Group.
Mark the checkbox next to the websites you would like to analyze. You can search for the domain name in the search bar, filter by sector, and choose the relevant country from the dropdown menu.
Provide a name for your group, and then click Confirm.
There are two different sections in Conversion Analysis:
Business Performance Landscape: This graph allows you to benchmark against different websites based on their conversion performance. You can see metrics such as total visits, converted visits, conversion rate, and choose which of those metrics to present on the graph. You can also filter by marketing channel to see who has a strong channel strategy.
Tip: Benchmark to the Group Avg. to quickly understand who’s winning or losing.
Business Performance Trends: This graph allows you to analyze performance over time. Look at metrics like total visits, converted visits, conversion rate, and stickiness to see who is improving and who needs to adjust their marketing strategy.
Look at Converted Visits to understand if a website can scale its business and at Conversion Rate to see how efficient it is at turning visitors into paying customers.
Click on Benchmark to the Group Avg. to quickly understand who’s winning or losing.
Clicking on one of the websites in the first graph or in the table at the bottom of the page brings you to the Website Performance overview. This overview lets you deep-dive into specific websites and their conversion performance.
Business Performance Trends: This graph allows you to understand the period over period performance. You can choose the time frame you’re interested in at the top right corner of the screen and choose whether you want to compare the time frame you chose to the previous year or the previous period. Like the other graphs, you can filter by marketing channel and toggle between the different performance metrics.
Tip: Stickiness tab to understand if the website’s customers are becoming more or less loyal over time.
Conversions by Leading Marketing Channel: This graph allows you to see the performance of all marketing channels one next to the other. As a result, quickly understand which channels are performing well.
Click on the different marketing channels - e.g., Direct, Paid Search, Referrals - to further investigate each channel and understand why it’s converting well or poorly.
On-Site Search: If we have on-site search data for the website you’re currently analyzing, you’ll see an orange ‘new’ icon and be able to click on the on-site search tab at the top left (next to the Overview tab). You can see all the top keywords consumers are using when searching within the site you’re analyzing on this page. You can filter by the length of the phrase (one word, two words, or three words) and search for specific terms to include or exclude.
Sort the table by Conversion Rate to see what consumers search for when they have a high intent to buy.
In the table, you can see the following metrics:
Phrase: Keyword/s being analyzed.
Visits: Number of visits in the current period that included at least one on-site search with this phrase.
Visits PoP: Change of visits between the current and past period/year.
Converted Visits: Number of Desktop visits that ended up on a ‘Thank You’ page. The thank-you page can result from a purchase in industries like retail and travel and can also result from a form submission in industries like financial services.
Converted Visits PoP: Change of Converted Visits between the current and past period/year.
Conversion Rate: A percentage that refers to the number of Desktop visits that ended up on a ‘Thank You’ page divided by the total number of Desktop visits.
Conversion Rate PoP: Current Conversion Rate - past period/year conversion rate divided by the past period/year conversion rate.
What happens when a URL changes, for example, "acme.com" to "acmecompany.com"? Does Similarweb track these changes?
Unfortunately, we can't track URL changes for a site. We see traffic in our data within a unique URL. When a site's owner changes their URL configuration, our trackers and algorithms cannot make this connection between the old and new URL and cannot monitor URL patterns for every site analyzed.
To learn more about Conversion Analysis, check out our blog post, "Conversion Analysis: How (and Why) It’s Crucial for Your Business Growth."
For more information, contact your Account Manager or Similarweb Support at firstname.lastname@example.org.
Can I use the API for Conversion Analysis?
Yes, there is an API integration available for Conversion Analysis. Metrics (minus OSS), available through the REST API: Visits, Converted Visits, Conversion Rate, Stickiness.
What platform is the data in Conversion Analysis based on?
Conversion Analysis is based on desktop data only.
How does Similarweb know what the site’s funnel is?
We navigate to each site and research it and then identify the "Thank You" page.
What is CVR, and how does Similarweb calculate it?
CVR (Conversion Rate) is the desktop "Thank You" UPVs (Unique Page Views), which is the number of visits that include the "Thank You" page at least once, divided by the total number of desktop visits to the site, for the specified country.
How is the CVR calculated (for category conversion)?
Category Conversion funnel has two steps: Product Views & Product Purchases, which means that the CVR is calculated out of the Product Views, and not from all the site's total visits.
Does Similarweb know which products were actually purchased on each visit?
For Amazon sites, Similarweb knows exactly what products were purchased on each visit. For any other site, Similarweb has an attribution model that estimates, on converted visits, the probability that the viewed product was purchased on the same visit. For example, if a converted visit contains two product views, we will count a partial purchase for each category - X% of a single purchase for the 1st product, and Y% for the 2nd product. Since we can purchase more than one product on a single visit, then X%+Y% can exceed 100%.
How is the CVR calculated (for On-site Search)?
OSS funnel has two steps: Product Views & Product Purchases, which means that the CVR is calculated out of the Product Views and not from the search page visits or all the site's total visits.