How You Can Properly Use Conversion Rates In Your Marketing Efforts
In the world of marketing, many professionals throw around loads of technical terms that might not mean a whole lot to the rest of the world. Click through rate, impressions, organic distribution, conversion rates, and more…Maybe we will have time another day to write down some information for you on the rest of those terms, but for today, let’s focus on conversion rates, what are conversion rates? How do they affect your sales? What makes a high conversion rate good? Where do they connect to your marketing?
These might be a few questions that you are asking as you asses your businesses marketing efforts as well as try to find ways to improve your “conversion rates”. Conversion rates can be broken down into various types of conversion rates including page-level conversion rate, campaign conversion rate, keyword conversion rate, and more. But on a very general overall side of it, conversion rate is the percentage of visitors that take a specific action (that you choose). For example, if your goal is that your visitors fill out a contact form to receive more information, then, the percentage of visitors to your website that fill out your contact form is your contact form conversion rate. You can have unlimited amounts of conversion rates, all based on the goals that you have set for your website! Any action that a visitor can take on your site, can be converted into a conversion rate. Examples include, clicking on a certain button, filling out a contact form, reaching a certain website page, engaging with an interactive portion of your site, the possibilities are truly endless. It’s likely that you will not want to track ALL of your conversion rates, because that would just be too much data to keep track of. But as a business, you will want to set specific goals as far as conversions go, what are the conversions that you want to track, that you would like to see increase? Start by tracking and calculating the few conversion rates that you want to see increase.
How Do You Calculate Conversion Rate?
Calculating your conversion rate is fairly simple, you will have to establish the time frame that you are calculating, this could be anywhere from a few days up to a few years or more. We suggest calculating your conversion rate at least for 2 weeks to ensure that you are getting a wide variety of data. You will take the number of conversions from your time frame and divide that number by the total number of website visitors that you had for that time frame. Once you have that number, you will multiply it by 100%. This will be your new conversion rate for said action on your website. Yay! You just calculated your very first conversion rate! Now you can go ahead and calculate all of the various conversions that you want to track and increase.
How Are Conversion Rate, Marketing, & Sales Related?
Now you know what a conversion rate is, you know how to calculate it, and you know what conversion rates you want to track for your specific company and goals. But how does your conversion rate relate to your marketing efforts, that relate to your sales? Although bringing it to completion might be more challenging, the idea is quite simple really…better marketing = higher conversions = more sales. When you go through and begin to start tracking some of your conversions, you can start implementing different, better marketing tactics. It’s likely that this will take some time, and trial and error to find what works for your audience, what they respond to, and what encourages them in the best way to take that specific action that you want them to. This in turn will has a tendency to lead to more sales, more connections, and more opportunities to reach out and connect with your audience.
Higher conversion rates are often a sign of a successful business, but what is normal? According to research done by our friends over at Wordstream, When considering landing pages, the goal is to achieve a conversion rate of 11.45% or higher. This would put your landing page in the top 10%
How To Start Increasing Your Conversion Rate Today
You can go about increasing your conversion rate in many different ways. Try to set specific goals as far as raising your rates according to where you are currently, setting realistic goals as well as brainstorming various ways to get there is a good place to start. Some of the ways that you can increase your conversion rates are through paid advertising such as Google Ads, Facebook ads, or other various paid social media advertising. Another way that you can work on increasing your conversion rate is through organic marketing such as Search Engine Optimization. When your site is optimized for Google properly, more visitors will find your site as well as take action on your pages.
We hope that this little bit of information is helpful for you to understand conversion rates and what they tell you about your website. If you have questions regarding conversion rates or what marketing approaches that you can take in order to increase yours, please contact us today! Our team of marketing professionals is happy to help you!