The average b2b conversion rate: a key metric

Just a few years ago, B2B was far less digital than B2C, even though it accounts for the majority of business transactions worldwide. The 2020 pandemic changed the landscape, as companies already established online gained a significant edge. Since then, more and more professionals targeting other businesses have recognised the importance of a digital presence, often through a dedicated website. As we’ll see, there are several types of B2B sites. The conversion rate in B2B is a particularly valuable indicator, offering real insight into the effectiveness of your strategies. Looking at the average B2B conversion rate can also be useful, though, as we’ll discuss, it’s a benchmark to use with care.

The definition of B2B

B2B commerce refers to transactions that take place directly between suppliers and their business clients. These deals are generally more complex than those in retail, often involving price negotiations or other contract terms specific to the sector. Long-term relationships are frequently established by contract to ensure ongoing business. The average value of a B2B transaction is much higher than in traditional retail, as it can include not only products and services but also investment goods such as IT, technology, and industrial equipment.

What is a B2B conversion rate?

The B2B conversion rate is a metric used to measure how successful a business is at turning website visitors into clients. It’s calculated as the ratio of total conversions to the number of site visitors over a given period. A conversion might be a purchase, especially on an e-commerce site, but in both B2B and B2C, it can mean much more. Depending on your objectives, a conversion could be a request for a quote, a callback, or the completion of an information form, among others.

To help you improve your average B2B conversion rate, Incremys offers a range of innovative modules designed for professionals. Explore the benefits of personalised AI, high-performance content production, and the performance reporting module for precise tracking and analysis. These tools help you maximise your digital strategy and achieve sustainable growth in conversions.

The different types of B2B websites

The main aim of a B2B website is to grow your business with clients. Depending on your goals and sector, you generally have two main options:

The showcase website

If your company doesn’t sell products or doesn’t wish to, a showcase website is the ideal solution. It boosts your online visibility and highlights your business activities. A well-designed site with relevant content—especially about your commercial offer—strengthens your image and demonstrates professionalism. A showcase site can help you attract new clients, even if the final transaction doesn’t take place online.

The e-commerce website

An e-commerce site allows you to reach new prospects who might otherwise be out of reach, and gives existing clients a new way to place orders. However, a B2B e-commerce site has some specific requirements compared to B2C:

• It must be able to handle VAT requirements flexibly;
• It should allow easy creation of quotes before a sale;
• It should offer tailored products and pricing based on the company or brand visiting the site.

SEO and SEA

The conversion rate is a vital KPI in B2B, but it needs to be analysed with care. There are specialist tools for this, such as Google Analytics or the Incremys SEO vs. SEA module, which let you track progress and measure the impact of your strategies. It’s important to distinguish between your SEO conversion rate and your SEA conversion rate. The former relates to traffic from organic search, while the latter concerns paid campaigns such as AdWords.

The average B2B conversion rate

The average B2B conversion rate can be a useful benchmark, but it should be used with caution, as there are often significant differences between industries. Recent studies show that the average B2B conversion rate has been around 3.6% in recent years. At first glance, if your own conversion rate is 5%, you might consider it quite strong. However, as mentioned earlier, it all depends on your sector.
For example, the average B2B conversion rate is 4.7% in finance, 8.5% in travel, 7% in services, and 5.6% in cosmetics. If you want to know how your own conversion rate compares, it’s best to measure it against your direct competitors.

For more details, read our article on SEO conversion rate.

In conclusion

The average B2B conversion rate is an important concept, but it should always be put into perspective. For professionals, the conversion rate is a crucial KPI that should be at the heart of your marketing strategy. Careful analysis of this rate is essential, and the right tools make this possible. Only then can you identify which parts of your strategy are working and which need to be improved.

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