After 1 week of Stuffed Tracker advertising I’ve realized one thing that might be obvious to someone, but was not that clear to me.
Conversion cycles for different products are completely different.
Take for example hotel bookings (which I am familiar with because Stuffed Guys have developed Twibo). Typical visitor coming from an advertising to a hotel booking site usually books a room within several hours of arrival, very rarely within a day or two (of course if he/she books at all). Thus the conversion cycle for a hotel product is quite short.
On the contrary, if you take a software product, the conversion cycle can be quite long. A visitor arriving from an advertising does not usually buy the software right away. At best he/she downloads a trial version and then works with it for a typical month until the trial expires. Only then this visitor might convert and buy the product.
There are of course exclusions from this rule, but in most cases it works like this.
This imposes additional challenges when tracking the conversion for long cycles.
May be it’s possible to find typical sales cicles durations for some products/services? And release industries-specific prediction system inside Stuffed Tracker? Or, if not prediction, then simple “above average/below average”? But the last may not depends on external data…
Vladislav, this is a great idea!
But we first need to gather the conversion data for different industries. Maybe, Stuffed Tracker users would not mind to share this data with us in the future. We would then be able to do a research and create a list of typical conversion cycle lengths for different industries/products.