How comes there are thousands of visitors clicking into your website but leave without doing anything? Why is my ratio of exposure and sales low after putting in a massive amount of marketing budget? The answer lies in conversion rate optimization.
What is the Conversion Rate?
Conversion Rate is the ratio of how many website visitors are turned into customers that do a targetted action. In most cases, it will be paying for a product or service. It is the measuring metrics of what a conversion will be depending on the industry and the type of offering that particular website provides.
A few common types of conversions are:
- Paying for a product
- Subscribing to a service
- Filling a form
- Downloading information
- Calling the consultant
- Making an inquiry
The formula for calculating conversion rate is:
Conversion Rate = (Number of conversions/Number of visitors) x 100% in a given period.
If you have 10,000 monthly visitors but only 100 sales, your conversion rate is only 1%.
Conversion rate is an important performance metric to measure the success and effectiveness of your company website. But how can you track the conversion rate?
How to track Conversion Rate?
Typically, a good website developer will help you track your conversion rate or teach you how to track them. Common platforms where you could track conversion rates are:
- Google Ads
- Google Analytics
- Facebook Ads (includes Instagram Ads)
- Twitter Ads
- Pinterest Promoted Pins
It is an excellent habit to get into tracking your website performance metrics, and you will be more likely to succeed once you hold onto valuable analytics about your company. According to Hubspot’s State of Inbound report, 97% of inbound marketing campaigns fail without good analytics. You could only learn from mistakes, and the only way to improve the shortages is by understanding where you possibly did wrong.
What is Conversion Rate Optimization?
There are two steps to increase the conversion rate.
The first step is to increase the number of visitors clicking on your website. That’s done by SEO and SEM, which increases your company and site exposure online. We have talked about utilizing SEO, SEM, and various types of advertisements online in previous articles. You could click into either of those to learn more about how to increase the total amount of visitors:
Many websites face the problem of having thousands of visitors but a low sale. This is where the second step comes into use.
The second step is to increase the number of successful conversions. As mentioned before, different companies and industries have other measurements of conversion. But the method to improve it is by Conversion Rate Optimization.
What is Conversion Rate Optimization (CRO)?
Conversion Rate Optimization is the method to enhance the number of conversions and the number of total visitors. Below are standard ways to achieve conversion rate optimization:
1. Provide a personalized experience
For a website to stand out and attract customers to engage in activities fully, a personalized experience is essential to achieve.
According to Epsilon marketing research, 80% of customers are more inclined to purchase a produce or service from a company that provides a personalized experience.
Evergage’s Trends survey also shows that on average, 54% of marketers see at least 10% of KPIs increase after using personalized experience on their website.
2. Simplify website content, highlight the value proposition
A good website should be visually simple to follow and easy to find its value proposition. It should attract customer’s attention, stimulate engagement activities, and clearly outlines company/product information. If your website has too many outer links or a messy format, customers will get distracted and decrease their interest in your product.
3. Prioritize mobile user experience and landing page
There are more than ever amount of people choosing to shop on their phones instead of a desktop. Having a well-designed mobile landing page will satisfy the needs of mobile users, which increases the sales of mobile users. If you take a closer look at all successful business websites, you will notice that both of their desktop and mobile landing pages communicate brand messages perfectly to customers. Nowadays, Google also prioritizes mobile landing pages over desktop websites on search engines, which means your search engine rankings will increase if you have a good mobile landing page.
4. Increase site speed
All professional sites have a high loading speed. Nobody wants to wait in this time of era. A long waiting time will reduce customer interest and decline user experience. If you want customers to stay on your site a bit longer, you need to increase your site speed.
Explore more of Webzilla Digital Insights Blog (https://webzilla.co.nz/digital-insights/) and contact Webzilla today to 5x your conversion rate!