Conversion rate is the ratio of visitors who took the desired action when visiting your website out of total visitors that visit your website.
HubSpot defines it as “Conversion rate optimization (CRO) is the process of enabling people to take an action when they visit a website.”
The desired action can be one of many things. It can be a click on the download button, or to fill in the form, or to purchase a product e.t.c
Why is conversion rate important:
Conversion rate is one of the key factors to measure a businesses progress and effectiveness of a campaign. It is also a key factor when ranking in search engines is considered.
An improved conversion rate means higher engagement rate with the website visitors, hence higher sales and more revenue.
In simple terms, a good conversion rate means good sales. In this modern digital age, every business should strive and take actions to have good conversion rates.
How to calculate:
If desired action for conversion is clicking on download button, the conversion rate would be:
Conversion rate = (no. of visitors who clicked download/ total no. of visitors) x 100
For example, a popular travel website is offering a downloadable e-guide for a camping trip if visitor enters his email address.
Out of 10000 visitors who visited there page, 50 downloaded the e-guide. So their conversion rate would be
Conversion rate = (50/1000) x 100 = 5%
Some useful conversion optimization stats :
- Only about 22% of businesses are satisfied with their conversion rates.
- Using videos on landing pages will increase conversions by 86%.
- 90% of searchers haven’t made their mind up about a brand before starting their search.
- For every $92 spent acquiring customers, only $1 is spent converting them.
- 84% of people will not make a purchase if they are dealing with an unsecured website.
- 72% of consumers who did a local search visited a store within five miles.
How to improve conversion rate
You know now what is conversion rate, what is the importance of conversion rate and how to calculate it. Great, naturally the next step would be conversion rate optimization. How to improve your conversion rate.
The key factors would be to improve your website’s
Page load time: 53% of your website visitors will leave the website if it takes longer than 3 seconds to load. Improving page load time will improve the conversion rate as well.
Make it Responsive: More and more people are visiting websites through there mobile devices now. A website that is not mobile friendly will force the visitor to quit. Making it responsive is the right way to go.
Optimize your keywords:How will search engines know you have valuable information on your website if right keywords are not used? Using proper keywords help improve conversion rate.
Improve user experience: If website is pleasing to look at, has the right information at the right place and is easy to navigate, surely conversion rates will be higher.
you can get more details about best practices for conversion rate here
Not sure what needs to be done? We are happy to help.
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