What is the conversion rate? Like all other blogs, I can give a technical definition here with some heavy words and sentences. But that won’t make you understand what conversion rate means, how it will help your business, and the ideal conversion rate you need. In the end, you may roll up the article and look for the answer elsewhere.
Therefore, I decided to make it as simpler as I could. In this article, you will get the simplest definition of conversion rate and a simpler reason why you need to take a look at your website’s conversion rate.
What Is Performance Marketing?
You must be wondering why did I start my article with this term. The reason is before moving on to our topic, let’s first understand its basics.
You might have heard of performance marketing. It is the new form of marketing that top digital marketers around the world nowadays prefer.
As we all stepped into the internet world, we all started living in digital ways. Gradually, each and everything associated with humans started taking an online/digital form.
Marketing and advertising too was not an exception. It was much easier to reach out to the customers from online platforms than the traditional ones.
With businesses going online, it became necessary for everyone to promote their products through online platforms and social media channels like Facebook, WhatsApp, Instagram, Twitter, and LinkedIn.
Digital marketing Agency help businesses gain the needed online presence. With proper optimization, businesses started to rank higher on the search engine result pages.
But somehow, this didn’t help the business grow its revenue. Even if huge traffic was generated, it still didn’t reflect in the generated revenue. Therefore, it became critical to search for a new marketing strategy. Thus, performance marketing came into existence.
Performance marketing is wholly based on pay for performance module, which means the performance marketers bear the absolute risk, and it’s their job to help the businesses not just rank higher but also generate revenue at that same level.
This was a win-win method for all. Businesses were happy as they were getting what they were paying for, with an improvement both in traffic and revenue. Marketers, too, were happy to take this challenge, which guaranteed results and proved their caliber in the form of actual results and not some mere claims and speculations.
But this wasn’t easy. The process of generating a business’s online visibility is a bit complex and needs strategic planning with consistent efforts. All this procedure needed a plan and a strategy that would be purely based on the collected data. It also needed some metrics that would be both beneficial in collecting data and measuring the results. These metrics are known as key performance indicators(KPIs). Conversion rate is one of these KPIs.
What Is Conversion Rate?
Each KPI is a milestone that you, as a business, need to cross. Return on investment (ROI), Conversion rate, Customer acquisition, Customer retention, Lead generation, Quality of the leads, Sales, Revenue, Conversion, and number of Downloads are the KPIs needed to be focused on. Performance marketers focus their efforts on improving these metrics, which ultimately give the expected results.
For now, let’s understand one of these KPIs, the conversion rate
As promised, here is the simplest way I can explain the conversion rate. The conversion rate is nothing but the number of visitors that actually converted into your potential customers.
There are hundreds of visitors to your website every day. But, how many of them actually purchase any product?
For instance, there’s a vegetable vendor. If you observe, there are hundreds of people who visit his shop. Some take a look at the veggies, some will take a closer look, and some will inquire about their prices, but very few will actually purchase the vegetable out of them.
So, if there are, say, hundred visitors in a day, of which four visitors actually purchased the veggies, the conversion rate will be 4%.
Tips And Tricks To Increase Conversion Rate Of Your Website
Now that you have understood what is meant by conversion rate let’s find ways to increase your conversion rate.
On average, 2% to 5% conversion rates are considered to be good, depending on different types of business and products.
Once you visit an expert performance marketer, you can find out the best conversion rate and the best method to improve the conversion rate and other metrics for your business.
For now, we will take into account some general tips and tricks that will help any business improve its conversion rates.
Before determining these ways, ask yourself if hundreds of websites and businesses out there have equally good quality products and services to offer, then why should any user purchase it from you?
An expert Google analytics consultant will help you to find out all the ins and outs of the website.
As a user, what would you expect when you visit any website or app?
You will get the answer yourself. If you still cannot figure it out, we are here to help you out.
- Create excellent quality engaging content for your websites, social media platforms, advertisements, and informative articles.
- Share a good amount of honest reviews, testimonials, reports, surveys, or case studies.
- Do not leave any error when it comes to the user-friendliness of your websites
- If users find it too hard to locate any product, search for any product, navigate through the websites, they tend to leave immediately. So, never neglect these minor but important factors.
- Make the overall process easy to understand for all types of users.
- Be creative when designing and creating the format, content, images, designs. The overall web design should be impressive, engaging, and fresh. Strictly avoid clickbait.
- Always keep your website and apps updated according to technology. Minor technical errors might drive away your potential customers.
- Reach out to your customers and understand their user experience if the desktop and mobile versions are user-friendly and navigate easily. Whether the shopping process is smooth, right from searching for a product to the final adding to cart and making the payment.
- Make the call to action clear and precise. Make the cancellations, refund, replace, and return process clear without any unnecessary loopholes.
Read More: How to Effectively Increase the Visibility of Your Website Content on the Internet?
