What is a Conversion Rate?
Your website’s conversion rate is the number of times a website visitor completes a goal on your website divided by the total traffic to your website in a certain period of time. If you sell a subscription, divide the number of subscriptions by website visitors.
What is considered a good conversion rate?
Your business is unique. There are many variables that account for a good conversion rate. In order to understand this for your business, you need a baseline. Starting with the current conversion rate on your website and setting goals for what conversion rate would you like to see in next month, then quarterly and yearly goals.
A higher conversion rate is an indicator of successful marketing and website design. It also shows that people want what you are offering and they are easily able to find items of their interest on your website.
Why Conversions Rate is Important?
Tracking your website conversion rate is important. It helps you measure the performance of your webpages and help you understand what percentage of users are completing the conversion actions or goals on your website. This tracker defines success for your business and also highlights the areas on your website that need your attention.
How to identify a low conversion rate?
There could be various reasons for a low conversion rate. Let’s talk about the most important ones:
- If there is a major gap between the number of visits to a landing page and the conversion actions, it means that your landing page design is making it difficult for the potential customer to complete the action.
- The content of the landing page is not talking to your target audience.
- Your product/service is expensive compared to the competition.
There are various tools that can help you understand the low conversion rates like Google Analytics, Unbounce, Hotjar, etc. If using Google Analytics, the number of drop-offs from a conversion actions page is a good indicator to start with.
Feel free to leave a comment or reach out for any questions.
Khurram Shahzad is a Digital Marketing Professional with diverse experience in the field of Digital Marketing and Advertising, Conversion Rate Optimization, and goal-oriented multi-channel digital campaigns. Currently working as a Digital Marketing Strategist at InspectionGo.