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While traffic varies a lot, the conversion rates we're seeing for image searches reported in traffic sources are very low across all of our customers. I'd like to have a larger data set.
I have a customer where Google Images is the #3 referring source for traffic, the #1 referring source in gross revenues, with an ecommerce conversion rate of 6.5%.
Google images is a huge source of traffic for our store. The conversion rate is well below the site average, but the revenue still makes it worth keeping. Opting out would be disastrous for us.
As far as ranking, I am told it is similar to how a page ranks. Alt tags are important, but surrounding text is also a big part of it. I do not believe that naming has much affect on the results, but I could be wrong. If I knew the secret, I would optimize my images more to try and get even more traffic from them.
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