John Kim, Senior Director of Advertiser Product Marketing for Yahoo! Search Marketing, delivered a keynote at eComXpo today called “The Next Wave of Advertising.”
One thing that really caught my attention was some statistics that he shared about conversions. He mentioned how important it is to track offline conversions, and then shared some numbers. I don’t know where they came from, but I’m just happy to have data. (I love data. The pie chart is my friend.)
Anyway, his data indicates that only 1% of conversions happen online in the same session as the initial search. Another 7% convert online later (latent conversions). But 92% of conversions happen offline.
How can you better track the 92%? Here’s one example: I get asked my ZIP code all the time to help stores figure out where they should focus their future growth. I say ONLINE. Ask if I visited your website before I came, or how I found you.
I don’t think this means, however, that online-only stores should build B&Ms just to increase their growth .