In this article, we will try to understand what conversion rate is, how it is measured, and most importantly – how to improve it.
The marketing world is undoubtedly a dynamic, evolving and ever-changing world. Various advertising platforms that allow the business to reach more target audiences new pops up for visitors. However, along with the frequent changes and many changes, there are two basic principles that guide any business that wants to grow and develop:
1. The need to bring as many interested people as possible into the services offered by the business.
2. The need to convince a large percentage as possible of those interested in purchasing the product.
Example Conversion: If we were able to bring a person to our site and they purchased a product, it is a conversion because we have made the potential customer a paying customer. This is just one type of conversion though, there are many other types of conversions.
5 Types of conversions
Businesses use different types of conversions to drive a potential customer down the marketing funnel and increase the likelihood of purchasing various services offered by the business. Conversion can be any of the following:
1. Leaving details.
The visitor visited our site, expressed interest in our products and services, and left details for us to return to in the future.
2. Phone call.
The customer has chosen to call us proactively.
3. Sign up for the newsletter.
The customer joined the mailing list and agreed to receive
marketing mails in the future.
4. Form filling.
The customer invested time and filled out a product or service order form.
The customer made a purchase and paid for a product or service.
Of course, there are other types of conversions. Each business creates its own conversion chain that is relevant to its business and which supports the business processes, production, supply and customer support.
What is a conversion ratio?
Once we understand what a conversion is, let’s try to understand what a conversion ratio is. If so, a conversion rate is the ratio of users at the site during a particular time period who converted (one of the actions mentioned earlier), and to all users at the site during that time period.
The goal of any business is, of course, to increase the conversion rate as much as possible.
What affects the conversion rate?
In one word: everything.
When a user comes to your site, he or she makes the decision whether to perform an action, that defined as a conversion at the site, based on a very wide range of parameters: Does the site look reliable? Does it transmit authority? Is the price displayed reasonable? What is the guaranteed delivery time? Do competitors offer a better product?
Many of the parameters on which the potential customer makes his or her decisions are not within the control of the business: various aspects of managing and prioritizing the family budget, the exact timing for purchasing the product or service, disappointment with a similar product purchased in the past, and more.
However, a business can make a series of site improvements to significantly increase the conversion rate, with parameters that it has control over, and significantly improve the effectiveness of the business sales process.
How is conversion rate measured?
Proper measurement of conversion ratio is necessary to improve conversion rate. In order for the business to get a complete and accurate picture of the conversion rate on its site, it must measure the conversion rate according to the different traffic sources of the site. The actual measurements are made using Google Analytics and the Manager badge.
What does it mean?
Suppose a business is running a campaign aimed at collecting leads. The business publishes its landing page, which aims to collect subscribers’ information, on various channels: organic website promotion, Facebook advertising and other social networks, direct mail, search engine sponsored campaigns, tabula, outbrain and more.
Now, the business wants to figure out which marketing channels that was chosen are most effective for it. To do this, he must understand which of the channels the conversion rate was good and which is less good, and prioritize the continuation of his campaign management accordingly.
10 ways to improve the conversion rate on your site
To improve conversion rate, you can do one or more of the following:
1. Broadcast authority.
Well-designed and official website building, which includes a professional logo design, customer portfolio, such and other credentials, media articles and more.
2. Landing page redesign.
Various studies show that there are significant differences in the rate of registrations between landing pages with similar content, relying only on the landing page registration form, the number of fields in the required form to fill out, the colors used, the text on the registration button, the left or right alignment of the landing page, And more.
3. Improved load time.
Internet users have a strange feature: they don’t have much patience. Creating a fast loading landing page will help you achieve better campaign goals
4. Reassure the customer.
For example, inform the customer that the contact information he or she left will not be used for other needs.
5 . Include an accurate explanation of what the surfer will receive.
When a surfer understands exactly what is going to get, it is easier for him to make a decision and leave details for a future contact.
6. Integrate testimonies of recommendation
A business that can present a series of recommendations can help the customer understand that this is a product that many people are happy with.
7. Add a picture of the service provider
People connect with people they recognize. It’s easier to trust someone we know.
8 . Add titles and qualifications of the service provider
It is easier to trust a doctor, an accountant, a lawyer, a digital marketer and many more as we become aware that they have undergone serious and respectable training from a recognized academic institution.
9. Adding a stamp
Often times, adding a stamp image helps potential subscribers to the service complete the registration operation.
10. Targeting the target audience of interested parties
The more focused the target audience of the service, the more
likely they are to successfully convert.
Conversion ratio is one of the most important elements that determine the success of any business. Along with bringing significant and greater traffic to the site, each business should
analyze and understand whether the conversion rate of the managed campaigns on its site is good, or should it be improved by various means.