Bounce rate has been a concerning metric for businesses across industries.
But did you know that apart from an opportunity to convert a visitor into a customer, a bounce is also causing you a loss in sales?
This especially holds true for eCommerce businesses as they scale their marketing and advertising campaigns across social media platforms.
Our previous research uncovered that social media has become a go-to channel for consumers to discover new brands and products.
But with a majority of online shoppers choosing to make the purchase from brand sites instead of social storefronts, businesses are experiencing high bounce rates.
As per our new research, we found that almost 70-90% of the traffic referred to a brand site from social media, bounces almost instantly.
The average conversion rate from this referring channel is a mere 0.5%.
So we deep dived into this shopping behavior to uncover the root cause of high social media bounce rates for eCommerce businesses.
And that resulted in finding how every bounce is costing brands an average loss of $5.11 in their overall revenue.
Alternatively, here is an infographic of the cost of social media bounce rate for eCommerce businesses - Download the infographic here.