What Is Conversion Rate and How Do I Improve It?
Your marketing team has worked hard to create a campaign to bring more traffic to your website. But, once a visitor gets to your site, how many leave without completing any desired action? Do you know what your website conversion rate is? This is a fundamental metric to understand for improving your business.
What Is a Conversion Rate?
A conversion rate is the percentage of your visitors who complete a desired action, such as buying a product, signing up for an email list, or simply clicking on a button. There is a simple calculation you can use to see what your conversion rate percentage is:
Conversion rate = number of conversions / total visitors x 100. For example, if you have 100 conversions per month and 5,000 visitors, your conversion rate is 2%.
Knowing your conversion rates is essential and often directly correlates to your sales and profits. It’s the measure of success for your website. And the good news is that there are numerous ways to improve your conversion rate and increase your overall website productivity.
The great benefit of improving your conversion rate is that you can quickly increase your overall sales with the same traffic coming to your website.
If you are spending $3,000 a month on advertising to bring 1,000 visitors to your site and can double your conversion rate by making simple changes, you are essentially doubling the value of your ad spend.
How Do You Define What A Conversion Is?
The first thing you need to do is decide what you want to classify as a conversion. You can figure out different conversion rates for several different factors to better understand the traffic on your site.
The most common metrics would be the number of visitors who purchase, sign up for an email list, and click on a button. This gives you great insight into how people interact with your site and where you may need to make improvements for growth.
It’s a good idea to set different conversion goals for anything you can think of. One of the keys to growth is setting goals monthly, quarterly, yearly, and measuring your progress. Conversion rates are easy to calculate and track, and as you make changes, you can quickly see what is working.
How Do I Improve My Website Conversion Rate?
Now that you know what conversion factors you want to measure, it’s time to start trying new things for increased optimization. However, there isn’t necessarily a one size fits all strategy because all industries are different and have different measures of success. If you’re an online retailer selling a $5 product, your goals will differ from a technology company trying to sell a $100,000 service.
We’ve gone ahead and listed a few of the most important aspects to focus on right away for improving your website’s conversion rate.
- Value proposition: The very first thing to focus on is having a compelling and clear value proposition on your landing page. This is the first thing your visitors will see and will often determine right away if they will continue scrolling on your website. Your value proposition should communicate what your business is offering, who you are offering it to, and ideally, what makes your offer special or unique. Well-written copy will make all the difference in improving your conversion rates.
- Call to action: Having a clear call to action (CTA) will make a big difference. What is the primary goal of your website? Make it super easy for your visitor to accomplish this goal. This may look like adding a pop-up to sign up for a newsletter or adding a button at the top of the page to request a quote. Guide your visitors to where you want them to go with as few clicks as possible.
- Test new methods: Remember there is no one-size-fits-all method to marketing. You need to try new things and see what works best for your business. Creating a unique value proposition, changing the font and colors, changing the wording and phrases throughout your landing page, etc. This is why keeping track of your conversion rates is so important. You can see in real-time the impact of the changes you make.
- Don’t complicate it. Clarity is key: Everything on your website should be clear and easy to understand/follow. Clarity trumps persuasion, always. Your visitors should never have to ask themselves, “what does this mean” “what do you offer” “how do I sign up,” etc. Write your copy as you would speak in a conversation with a friend. You don’t need to make it complicated with “marketing terminology.” Simple and straightforward will win the day.
Improving Conversion Rates Means Greater Success
Your website is essentially your storefront. You need to capitalize on every opportunity you have to make a sale or gain a subscriber. Increasing your conversion rates is one of the most critical factors for growth and is well worth your time to keep improving. Remember, the first step is deciding what metrics you want to track and calculating those conversion rates.
Let us know if we can answer any questions or if you would like our team of experts to look at your website and work with you to accelerate your conversion rate growth.