Did you realize that just 22% of companies are satisfied with their conversion rates? If yours isn’t meeting your expectations, it’s high time to leverage conversion rate marketing to elevate it. This strategy will enhance the online experience for shoppers or business buyers, making it more convenient for them to select your company.
This page delves into the concept of conversion rates in online marketing and offers five actionable tips to enhance yours.
For further insights on conversion rate optimization, don’t hesitate to contact us at 888-601-5359 to consult with a strategist regarding our specialized services.
Conversion rate represents the percentage of visitors who complete the desired action in comparison to the total number of potential converts. The formula to calculate the conversion rate is:
(Number of visitors that converted / Number of people who visited the page) x 100
For instance, if you have 100 conversions from 300 visitors, the calculation would be 100/300 = 0.3333, resulting in a conversion percentage of 33.33%, or 33%.
A high conversion rate signifies a successful marketing strategy, demonstrating that your audience recognizes the value of your offerings and can easily locate and learn about them.
Conversion rates are pivotal in digital marketing campaigns.
Every time you initiate an online campaign, tracking your conversion rate allows you to gauge its impact on your business. It’s a clear indicator of campaign success. A high conversion rate suggests that your campaign effectively converts leads into customers. Conversely, a low conversion rate indicates the need for optimization to improve results. In digital marketing, conversion rates encompass more than just sales; they can include actions like downloading a guide or registering for an event.
Diverse conversion rates exist within digital marketing.
The most common query we receive is: What constitutes a good conversion rate for my business? Companies seek to benchmark their conversion rates against industry averages. What is an ideal conversion rate for your company?
The reality is that there isn’t a one-size-fits-all figure. An optimal conversion rate varies by industry. For example, a clothing store might consider a 25% conversion rate as acceptable, whereas a car dealership may view a 3% rate as impressive. The ease of purchase, product cost, and the nature of the purchase commitment all influence conversion rates.
To determine a reasonable conversion rate for your industry, conduct thorough research to understand the average conversion rates.
Even if your conversion rate is below the industry average, don’t despair. Two primary factors often contribute to a low conversion rate:
Complex navigation and purchase processes on your landing page
Lack of clearly communicated value to your audience regarding your product or service
While other issues might contribute to a low conversion rate, these two are typically the most critical. The upside is that you can address these through conversion rate optimization.
Contrary to popular belief, conversions aren’t limited to sales. Here are several other actions you can track:
Completing a form submission
Engaging in an online chat with a representative or chatbot
Subscribing to emails or newsletters
Calling your business
Downloading a free guide or resource
As evident, conversions extend beyond purchases. You can set up various conversion actions on your site, like encouraging calls, leading closer to the ultimate goal of a sale. Let’s revisit the example of a car dealership.
With a low conversion rate for purchases and many sales occurring in-store, it can be challenging to measure the success of their marketing campaigns. By offering a free guide on selecting the right car, the dealership can track conversion rates related to guide downloads, gauging the effectiveness of their website in attracting and engaging visitors. This process can also generate valuable leads, potentially leading to future sales.
Seeking to enhance your marketing campaign’s conversion rates? Our five website conversion rate optimization tips can help you refine your site for improved sales, leads, phone calls, and more!
1. Develop targeted landing pages for your paid advertising campaigns
One of the most effective conversion marketing strategies is to create dedicated landing pages for your paid ad campaigns. Each ad should direct users to a page focusing on the advertised product or service. When users click on an ad, they expect to find information about the product or service, not a generic page.
Avoid using your homepage or a page with information about various products. Focused landing pages yield better results. They help keep your audience engaged with the product or service they were searching for.
For instance, if you run an HVAC company and advertise your heating installation services, ensure that users clicking on the ad are directed to a landing page specific to those services, not your generic homepage.
Such a landing page would provide detailed information about your heating services and repairs, increasing engagement and the likelihood of contact.
2. Continuously test your website and landing pages
The initial version of your landing page isn’t the final version. Regular testing is crucial to ensure you’re presenting the best possible version. Conduct A/B testing to experiment with different elements on your site.
Focus on making one change at a time to isolate the impact of each adjustment. By testing various elements, you’ll refine your pages to better resonate with your audience and enhance engagement.
3. Implement calls-to-action (CTAs) on your website
When visitors land on your page and are interested, they need guidance on the next steps. Without clear instructions, you risk losing potential leads. CTAs guide visitors to the next step, enhancing their journey through your site.
Explore different CTAs, including button design, colors, and language, to find the most effective approach. Specific and clear CTAs can significantly boost engagement and conversion rates.
4. Keep your forms concise
When capturing leads through forms, it’s tempting to gather as much information as possible. However, lengthy forms can deter users. Be selective about the information you request to keep forms brief and user-friendly.
For instance, when offering a free guide, limit the questions to essential details like name and email address for future follow-up.
5. Utilize video to engage your audience
Video marketing is a highly effective conversion rate optimization strategy. Videos engage audiences and provide valuable information, boosting conversions by up to 80% when integrated into landing pages.
This simple yet powerful technique can significantly enhance your website’s conversion rate. Videos make it easier for audiences to obtain valuable information, combining visual elements with crucial data for a positive user experience.
Investing in conversion rate optimization can significantly improve your website’s ability to generate leads, traffic, and sales. At WebFX, a leading search marketing agency with over 20 years of experience, we’ve driven over $10 billion in sales for our clients in the past five years. Contact us online or call 888-601-5359 to discuss our conversion rate optimization solutions.
