I’m quite surprised that there are still business web owners who ignore conversion rate. This performance metric can help you show the actual situation of your website, especially if your website is a major element of your sales and advertising campaigns. Generally, your marketing is doing better if your conversion rate is high.
Read on as we discuss more conversion rate including its calculation and ways of improvement.
An Overview Of Conversion Rate
The conversion rate is actually a complicated topic. In simplest terms, it’s the rate of visitors coming to your website that fulfills a particular goal. For instance, how many users visit your website to buy a certain product, sign up for a registration, or book a consultation.
There are many other conversion actions users can make on a website. In general, a conversion rate is a measurable action that transforms a potential customer into a paying one.
How To Compute Conversion Rate
Computing the conversion rate of your website is actually simple. All you need is a website analytics to gather necessary data, such as the number of leads, total traffic, and the number of visitors. When collecting data, make sure that you utilize an adequately long time frame.
The first thing that you need to do is decide whether you’ll need to compute for product sales or lead conversion. Next, collect necessary data from your website analytics software. Finally, follow any of these formulas:
Conversion Rate for Lead Generation = Number of Leads Gathered / Total Traffic x 100%
Conversion Rate for Sales = Number of Sales/ Total Visitors x 100%
How To Improve Conversion Rate: Testing A Website
So what do you do with your poor conversion rates? The best way is to optimize your website and landing page, or also known as the process of conversion rate optimization (CRO). Here are a few techniques to begin CRO today!
Recouping all those lost conversions is easy as you think. Here are a few techniques how:
Create A Firm Landing Page
Always direct your traffic to a dedicated landing page if you’re conducting any form of paid advertising. The main reason for doing it is page optimization. If you’re going to spend to build website traffic, you want to direct them to a page that’s meant to sell.
Develop A Hypothesis
In making a hypothesis, you’ll have to perceive on which web elements offers the largest effect on your conversion rate. Several elements include the headline, offer, and call-to-action. After you have made a hypothesis, run a test.
Perhaps the simplest way to commence a CRO process is to perform an A/B testing. To run this test, you need to establish two unique page variants and apportion your traffic between them. There are expensive CRO software to run an A/B test, but if you’re just a newbie, the cheaper options are Unbounce, Optimizely, and Google Content Experiments.