Our research team recently conducted a meta-analysis of average website conversion rates, using data sourced from Jan 1 – Sept 30, 2023. In the tables below, we have listed the data, which can be used as benchmarks for marketing campaigns.
In order to make proper use of this data, we will need to define the terms “website conversion rate” and “conversion” as we use them in this report.
The word “conversion” can mean many things; in its purest form, it is simply an action taken by a website visitor that has potential value to your business. In this report, we define “conversion” differently for B2C vs B2B businesses:
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- For B2C companies, a conversion is a purchase of your product or service.
- For B2B companies, a conversion is a marketing qualified lead (MQL)
To make these benchmarks more valuable, we have broken down the data in 3 ways: by Industry, Channel, and Traffic Source.
B2B Conversion Rates by Industry
| Industry | Average Conversion Rate |
| B2B SaaS | 1.1% |
| Biotech | 1.8% |
| Commercial Insurance | 1.7% |
| Construction | 1.9% |
| Engineering | 1.2% |
| Environmental Services | 1.3% |
| Financial Services | 1.9% |
| Heavy Equipment | 1.7% |
| HVAC Services | 3.1% |
| Industrial IoT | 2.6% |
| IT & Managed Services | 1.5% |
| Legal Services | 7.4% |
| Manufacturing | 2.1% |
| Medical Device | 1.5% |
| Oil & Gas | 2.6% |
| PCB Design & Manufacturing | 2.3% |
| Pharmaceutical | 1.9% |
| Real Estate | 2.8% |
| Software Development | 1.1% |
| Staffing & Recruiting | 2.9% |
| Transportation & Logistics | 1.4% |
Source: Conversion Rate by Channel
B2C Conversion Rates by Industry
| Industry | Average Conversion Rate |
| Addiction Treatment* | 2.1% |
| Apparel & Fashion | 2.3% |
| eCommerce | 2.2% |
| Entertainment | 2.9% |
| Finance | 1.7% |
| Food & Beverage | 2.6% |
| Healthcare* | 3.1% |
| Higher Education & College* | 2.8% |
| Hotels & Resorts | 3.6% |
| HVAC* | 2.1% |
| Legal Services* | 4% |
| Luxury Goods | 1.4% |
| Pest Control* | 2.5% |
| Real Estate* | 1.7% |
| SaaS | 1.2% |
| Solar* | 1.8% |
*For these industries, a conversion is defined as contact with the sales team.
Conversion Rate by Channel
| Channel | B2C Conversion Rate | B2B Conversion Rate |
| Organic Channels | ||
| Thought Leadership SEO | 2.1% | 2.6% |
| Organic Social | 2.4% | 1.7% |
| Email Marketing | 2.8% | 2.4% |
| Webinars | N/A | 2.3% |
| Public Speaking | N/A | 2.9% |
| Video Marketing | .8% | 1.3% |
| Paid Channels | ||
| PPC/SEM | 1.2% | 1.5% |
| PR | 0.4% | 0.3% |
| Account Based Marketing (ABM) | N/A | 3.8% |
| Direct Mail | <0.1% | 0.3% |
| Outdoor Advertising | 0.4% | 0.6% |
| Paid Social | 2.1% | 0.9% |
| Trade Shows | N/A | .7% |
Source: Conversion Rate by Channel
Conversion Rate by Traffic Source
| Traffic Source | B2C Conversion Rate | B2B Conversion Rate |
| SEO (Organic Search) | 2.1% | 2.6% |
| PPC/SEM (Paid Search) | 1.2% | 1.5% |
| 2.8% | 2.4% | |
| Direct | 1.6% | 1.9% |
| Referral | 1.8% | 1.1% |
| Organic Social | 2.4% | 1.7% |
| Paid Social (Other) | 2.1% | 0.9% |
| Paid Ads (Display) | 0.7% | 0.3% |
Source: Conversion Rate by Traffic Source
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