ICR (Initiate Checkout Rate)
What is ICR?
ICR stands for Initiate Checkout Rate, a metric used in e-commerce and digital marketing to measure the percentage of users who initiate the checkout process after viewing a product or adding it to their cart. ICR is a key performance indicator (KPI) for assessing the effectiveness of a website or app in converting product interest into actual purchase intent.
How to measure ICR?
ICR is calculated by dividing the number of users who initiate the checkout process by the total impressions on the ad, then multiplying by 100 to express the result as a percentage.
ICR = (Number of Users Initiating Checkout / Impressions) × 100
Why is ICR important to marketers?
ICR is important to marketers because it provides insights into the effectiveness of their e-commerce digital marketing campaigns in driving user engagement and purchase intent. By monitoring ICR, marketers can identify potential barriers or friction points in the checkout process, optimize website or app usability, and implement strategies to improve conversion rates and revenue.
Who needs to know what ICR is:
- Digital marketers
- Content marketers
- Email marketers
- Paid search marketers
- Social media marketers
- Conversion rate optimizers
- Web designers
- Product managers
- eCommerce businesses
- SaaS companies
- B2B companies
- B2C / D2C companies
Use ICR in a sentence:
Your AdParlor account team analyzed the ICR of their website to identify bottlenecks in the checkout process and implemented improvements to streamline the user experience and increase conversion rates.
