Get to know what a conversion rate is

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Get to know what a conversion rate is

What is a Conversion Rate?

Conversion rate is the number of conversions divided by the total number of visitors to a website. For example, if an e-commerce site receives 200 visitors each month and gets 50 sales, the calculation conversion rate is 50 divided by 200 or 25%.

A conversion can refer to any action you want your website visitors to take. This can include anything from clicking a button to making a transaction and becoming a customer. Websites and apps typically have multiple conversion goals, each of which has its conversion rate.

Please note that the conversion rate itself is not only limited to the scope of the website but in everything that is done in digital marketing.

For example: Social Media Ads, Google Ads, and others that have their conversion rate benchmarks.

Why Is Measuring Conversion Rate Important?

Since the conversion rate is a measure of how active and profitable a website is, you need to learn more. Tracking conversion rates allows you to measure the performance of your website and your digital marketing activities. Knowledge of the percentage of visitors or users who complete a conversion goal or more can drive your business.

Another benefit of knowing the conversion rate is the huge potential for you to measure the overall successful performance of your website or application, as well as the ability to identify areas for improvement.

With conversion rates, sales can also be increased along with the same amount of traffic. If you normally spend $ 1,000 per month on advertising to get as many as 500 visitors to your website, by doubling the conversion rate for that site, you are essentially doubling the number of visitors your ad has.

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Then, you can reduce your spending on advertising and get the same profit, or invest extra income for more important advertising.

How Good Is Your Conversion Rate?

Based on industry type and business model, conversion rates vary widely. To find out where the CVR of the Google Ad Words you are running, collect data on percentage conversion rate (CVR) and the type of industry in which your business belongs and have a look at the Google Ad Words Industry Benchmarks.

With Google Adwords Industry Benchmarks, you can find out if your company’s conversion rate is higher or lower than the average percentage. In this application, the average CVR across all industries is 2.70% on the search network and 0.89% on the display network.

How to do a CRO

CRO or Conversion Rate Optimization is the process of optimizing conversion rates by using existing data.

The CRO procedure is done by formulating a hypothesis why visitors are not converting and looking for ideas to increase conversions, then testing those ideas through a process called A / B testing, in which two versions of a website page are tested against each other to see which page is working. better.

There are several other ways to do CRO, namely:

  • Identify recent conversion goals and areas where the Conversion rate could be increased on an ongoing basis, and implement a test of new features.
  • Make sure your headlines convey your company’s value proposition.
  • Try to enlarge the buttons on the website or use high contrast color options.
  • Keep the most important page elements (such as forms and buttons) located in the most visible parts of the page.
  • Use strong call-to-action (CTA) phrases to persuade visitors to contact your company.
  • Use high-quality product images.
  • Consider adding a video to your website landing page.
  • Make sure your site and pages are working properly on mobile / mobile devices.
  • Make it easy for potential customers to contact you via chat or phone features.
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Conclusion

Conversion rate is the percentage of the number of website visitors who have completed the conversion goal of the total number of visitors. High conversion rates reflect success in digital marketing. It also means that your product/service has attracted a large number of visitors and they can easily access it.

To increase the conversion rate, the best way is to analyze the data you get and optimize your digital marketing efforts accordingly.

Want to increase your business conversion rate?

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