What is a conversion rate? How To Increase Your Conversion Rate

 

What is a conversion rate? How To Increase Your Conversion Rate

While different websites may provide different services, products or information, most websites have the unanimous goal of creating conversions. For most websites, this is about generating more online traffic, which, in turn, will equate to more sales and a greater profit. Regardless of whether this is your own strategy for your website, it is still always important to find ways to continually improve your conversation rate; not only to make a profit and a name for yourself online, but also to cater to the needs of your online users.

What is a conversation rate?

Put simply, a conversation rate is a measure of the number of potential customers that go on your website to buy your products or services, and the overall percentage of these visitors that go on to make a purchase. While many businesses try to increase the number of overall visitors to their website, in the belief that the more people browsing, the more eventual customers, often this is not where the problems lies. Instead, the features of a website can easily make or break a purchase, so it is important to utilise the following four steps to help achieve the best possible website for your customers.

Here is an example of a table that you can create to help keep track of your conversion rate.  As you can see, this is obviously quite a large business that has a big budget, as they’ve included keywords, natural search (unprompted Google searches), email, social media and ad words.  You do not need to include all of these in your own conversion rate table.

One thing to consider with this website is that it has generated over 40 thousand hits.  As a result, while their conversion rate may seem small at 13.9%, due to their number of visitors, it has generated a revenue of more than half a million pounds. If you compare this to certain industry averages such as for example a fashion e commerce store a conversion rate of 13.9% is actually a fantastic conversion rate.

It is important to keep in mind that the smaller your website, or the fewer visitors you have, the greater your conversion rate will have to be to generate an increased revenue.