So much fuss about conversion rate. What is it all about?
Well before we start let me tell you this: Make sure you have a good grasp of conversion rate as it can really turn your business around!
To understand conversion rate, let’s first understand conversions.
What is a conversion?
A conversion is when a visitor comes to your site and completes a desired goal. These goals are set by you and can be anything from completing a sale, opening an account, or signing up for a newsletter.
You can also include smaller conversions such as spending a certain amount of time on your site, downloading a pdf, or even watching a video.
So what is conversion rate?
The conversion rate is the percentage of visitors to your website that complete a conversion out of the total number of visitors.
How do I work out the conversion rate?
Divide the number of conversions (e.g. 20 conversions) by the total number of people visiting your site (e.g. 300 visitors), then multiply by 100% to get your conversion rate as a percentage.
20 conversions ÷ 300 visitors x 100% = 7%
What does a good conversion rate mean?
A high conversion rate implies a successful website with strong advertising.
Meaning – you are offering what people want and they can get it easily!
That’s what we’re all aiming for!
What is a good conversion rate?
According to Wordstream, the average conversion rate is 2.35%. Ideally, you want to break into the top 10% — these are the landing pages with conversion rates of 11.45% or higher.
What should I remember when recording conversions?
When recording conversions, make sure you total up the different conversions separately. For example, if out of 300 visitors you have; 10 people completing a sale, 13 people signing up to a newsletter and 24 people watching a video, don’t record conversion rate as 16%, rather:
3% – sale
4% – signed up to newsletter
8% – watched video
This way you have a more accurate look at what your conversions are.
Now that you understand conversion rate go ahead and start using these important strategies to optimize your online marketing.
But remember; we are here to assist you with all these essential marketing strategies. We will help you to figure out your desired goals and help to raise your conversion rate ever higher.