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What is a Good Conversion Rate?

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Conversion rates are an important metric to track when you are running a website, email campaign, or ads, just to name a few. After all, you want people to take the actions that matter to your business.

In this article, we'll look at what is a good conversion rate and how to improve it.  

What is a Conversion Rate?

What Is A Conversion Rate

A conversion rate is the percentage of people who take a specific action you want them to take. This is usually expressed as a percentage, such as 5% or 10%.

A conversion can be a number of things, including completing an e-commerce purchase, signing up for your email list, downloading your whitepaper or app, etc.  

Ads

If you run Facebook or Google ads, then your conversion rate is the percentage of people who click through to your site and end up making a purchase (or taking some other desired action).

If you're selling something online like an eBook or software download, then your conversion rate is the percentage of people who buy it versus those who don't.

How Conversion Rates Are Measured

Conversion rates are measured as the percentage of visitors who have taken the desired action. Conversion rates are calculated by dividing the total number of conversions by the total number of visitors for a given time period.

Conversion rate = number of conversions/number of visitors

For example, if you have 100 visitors and 10 conversions, then your conversion rate is 10%. The higher your conversion rate, the more likely it is that visitors will convert into customers.

The formula for calculating the conversion rate can be simplified into three steps:

Step 1: Determine the total number of conversions (in this case, 10).

Step 2: Determine the total number of visitors (in this case, 100).

Step 3: Divide the number of conversions by the total number of visitors to get your conversion rate (10 / 100 = 0.1 or 10%). This is a good conversion rate.

What is a Good Conversion Rate?

In order for a website to be successful, it must have a good conversion rate. A conversion rate of over 10% is considered good.

This means that out of 100 visitors, at least 10 people will complete their goal (purchase a product or service).

A good or high conversion rate means more sales, and a low conversion rate means fewer sales. A good conversion rate is one that helps your business grow.

The conversion rate depends on many factors: the quality of your site, how well your content is structured, how easy it is for them to complete the action, etc.

What Is the Average Conversion Rate?

What Is The Average Conversion Rate

The average conversion rate varies depending on the industry and medium. For example, an eCommerce store might have an average conversion rate of 10-15%%, while a software company might have an average conversion rate of 5%.

Average Conversion Rates Depend on an Industry

Industry

Average Conversion Rate

Legal

2.07%

Finance

5.01%

Ecommerce

1.84%

B2B

2.23%

The average conversion rate also depends on the medium or where you're measuring it from. For example, if you measure your conversion rates from Google AdWords campaigns, it will be different than if you measure them from organic search results.

Channel

Average Conversion Rates

Amazon

10-15%

Paid such as Facebook and Google ads

2.5%

Organic search conversion rates

16%

Amazon Advertising

9.47%

Social media

0.71%

Average Website Conversion Rate

If you have a blog, your conversion rate is the percentage of readers who take some sort of action, such as subscribing to your newsletter, adding an item to their shopping cart, or downloading an eBook.

The average website conversion rates of websites or landing pages are between 2 percent and 5 percent.

So if you have 100 visitors to your site this month, then you could expect between two and five of them to buy something.

This average conversion rate doesn’t sound like a lot, does it? But don’t despair.  There are plenty of things that you can do to boost your conversion rate and get more sales from your website.

Here are our top tips for getting a good website conversion rate

Tips For Website Conversion Rate

Make It Easy for Visitors to Find What They're Looking For

If visitors can't find what they want on your site, they're not going to stay long enough to convert them into customers.

Create A Clear, Simple Call-To-Action (CTA)

A CTA is the one thing you want visitors to click on your site and do action; whether it’s signing up for a free trial, buying a product, or filling out a form. Make sure it’s obvious by using strong wording such as “Start Your Free Trial” or “Buy Now.”

Illustrate your Products Well

Use strong imagery that illustrates what your product does and how it benefits users, as well as clear explanations of why people should buy from you rather than competitors (such as price comparisons).

Average Ecommerce Conversion Rate

Average Ecommerce Conversion Rate

If you have a website that sells products or an eCommerce site, your conversion rate is the percentage of visitors who make a purchase.

If you have an e-commerce store that sells shoes, and 100 people visit your site every day, but only five people buy the shoes from the store each day, your conversion rate is 5%.

The average eCommerce conversion rate is 5%

For a small business, this number can be discouraging. But the truth is that it doesn’t have to be this way.

You can improve your conversion rate and get better results from your eCommerce store. Here are some tips for boosting conversions:

Have High-Quality Images of Products

You want your customers to see what they’re buying before they buy it, so having high-quality images of your products will help them make the decision easier.

Have Fair Prices

If your prices are too high compared to other similar products out there, people won’t buy from you because they think they can find better deals elsewhere.

Offer Discounts

 If you offer discounts or free shipping on certain items, this will entice customers to make purchases because they feel like they’re getting a deal by doing so.

Here are more Tips for having More Conversions for your Online Store

·         Ensure that the most important product information is clear, visible, and easily accessible.

·         Include additional information about products so that customers have all the information they need to make a buying decision.

·         Use persuasive copywriting to encourage shoppers to take action.

·         Use a persuasive layout and design to guide visitors through your store and encourage them to buy your products.

·         Use social proof and reviews to convince visitors that other people your products.

Why are Conversation Rates Important?

Conversation Rates Important

Conversion rate is a metric that helps you determine how many people take an action on your website.

It’s a great way to measure how well your site converts visitors into leads, customers, or sales.

A high conversion rate shows that you have optimized your pages for conversions plus will help you generate more revenue and increase profits.

A low conversion rate might indicate that you should optimize your landing page or tweak your marketing strategy.

Indicate if your Marketing Efforts Are Effective or Not

Conversion rate is important because it can tell you how effective your marketing and sales efforts are.

If there are no conversions, then it means your advertising isn't working or your product isn't being received well.

If there are many conversions, then it means that your marketing efforts are successful and your customers like what you're selling.

Also, if a lot of people are converting to your site, then other businesses may try to copy what you're doing in order to attract more clients as well.

Better Conversion Rates Can Save You Money

The higher your conversion rate, the less money you need to spend on advertising. If you've got a low conversion rate, you need to invest more money in marketing so as to have more conversions and more people buy your products or download your eBooks.

Reasons Why Your Conversion Rate Might Be Low

You're sending traffic to a landing page that doesn't match the ad that brought them there. If you're advertising on Facebook, for example, make sure you're sending people to pages that match the ad copy.

Don't send someone who clicked on an ad about dogs to a page about cats. The same goes for Google AdWords; if you're running ads for dog toys, send those visitors to landing pages about dog toys.

If your site isn't easy to use and doesn't look good on mobile devices (which most people now use), then people aren't going to stick around long enough to convert.

Make sure your site loads quickly and gives visitors what they're looking for without making them jump through hoops first. You don't want people getting frustrated so they leave your website.

How to Boost Conversion Rates? - Conversion Rate Optimization

Conversion Rate Optimization

You have a great product. You have a great website. But still, you are not getting the number of conversions that you want. Is there something wrong with your product or website? Or is it just that people are not ready to buy from you yet?

The answer lies in the way you present your product and services. In other words, how well do you sell your product? If you can sell more effectively, it will boost your conversion rates and increase sales.

Make Sure Your Site Is Mobile-Friendly

You should consider using responsive design so that visitors who access your site on their smartphones aren't forced to scroll horizontally between sections of content or navigate awkwardly formatted navigation bars and menus (which can be difficult on small screens).

Make sure the Content is Organized Well

Make it easy for users to find what they want quickly; don't make them dig through layers of information just to find what they're looking for.  

Make sure all content is relevant and organized logically so users can easily find what they're looking for. This includes having a clear call-to-action (CTA) button or link so users know exactly where they need to go next.

Use Social Proof

Social proof is a persuasion technique that shows consumers that other people are doing something, and it works. Consumers are more likely to buy or take an action if they see other people have already done it.

This can be in the form of testimonials, reviews, ratings, etc. If a customer sees that others bought from your store, they'll be more likely to do so too.

Add Live Chat

Live chat is one of the most powerful tools in your arsenal. It allows you to respond immediately to customers, answer any questions they may have, resolve issues and close the sale. Live chat can increase conversions by up to 40%.

Communicate Value

If your visitors don't understand why they should buy from you, they will likely leave without buying anything.

Make sure that every page on your website communicates clearly what makes your company special, why someone should choose you over others, and what value they will receive if they purchase from you.

Shorten Forms

The longer it takes for a visitor to complete a form, the more likely he or she is going to abandon it before submitting it completely.

The ideal length of the form should be no more than 3 fields long and shouldn't take more than 5-10 seconds to complete (depending on how many fields are required).

FAQs Related to Conversion Rates

Is A Conversion Rate of 2% Good?

A conversion rate of 2% is not good but it is average for most websites. Some websites have a conversion rate of less than 1%.

Others have more than 10%. The important thing to note is that conversion rates vary greatly between different websites.

There are ways to improve this number and it is worth investing in the strategies I have given for improving your landing pages.

Even if you only get an extra percentage point of increase, that can mean hundreds or thousands more sales each month.

Is A 30% Conversion Rate Good?

Yes, a 30% conversion rate is good. In fact, this is a higher conversion rate or a very high percentage of visitors to your site that are converting into a lead, sale, or other desired outcome.

Why is it so high? Because your website has been designed to be effective at the task of converting visitors into customers.