Calculating your conversion rate is one of the best (and easieset) ways to measure the performance of your marketing campaigns.
Your website conversion rate is a critical metric to understand because it essentially determines if your marketing is leading people to do what you want them to do.
As a general rule of thumb, the higher your conversion, the better your marketing efforts are.
In this short read, we will provide you with a calculator to determine your conversion rate and discuss ways that you can improve your rate.
Just plug in your numbers below to get started!
What is considered a "good" conversion rate?
Depending on your industry, audience and specific conversion you're tracking, the quality of your conversion can vary.
As a general rule, the average landing page conversion rate is around 2.35%, however, the top 25% are converting at 5.31% or higher.
Ideally, if you have a conversion rate of 11% or higher, you would be considered in the top 10% across all industries.
Conversion rate by industry
WordStream conducted a study for four major industries and determined their conversion rate statistics.
Here's what they discovered:
What factors determine a conversion rate?
Depending on your goals as a business, your conversion rate can be considered as a percentage of visitors landing on your page and doing what you want them to do.
This can include things like:
- Joining your email list
- Making a purchase
- Asking a question on your online chat bot
- Filling out a form on your website
- Downloading an e-book or resource
- Upgrading a membership
- Repeat visits, a substantial amount of time on site, several clicks & pages visited
How do I calculate my conversion rate?
You can use the calculator above, or simply follow this equation:
Conversion rate % = (conversions / total visitors) * 100
In order to determine the numbers for conversion and total visitors, you can visit an analytics platform such as Google Analytics or your website hosting platform.
You can be as specific or as broad as you want in terms of determing your conversion rate.
For example, you can calculate total conversion rate, OR conversion rate for a specific metric (ie - how many users are converting through my Facebook ad?)
These numbers can help you identify the channels and marketing efforts that are most effective for your audience.
How do I improve my conversion rate?
Now that you've determined what your conversion rate is, and where you are placed on the spectrum, let's talk about how you can improve your conversion rate.
As we mentioned earlier, an improved conversion rate leads to better marketing and more sales - so even if you increase your conversion rate from 1% to 2%, that could have a significant impact on your business.
Here are a few different tips to improving your conversion rate (on your landing page):
- Get creative with your offer - conduct research amongst your competitors sites and determine what will make you stand out from the others
- Make sure your UX is clean and simple - often times, you may be getting in your own way. Are you asking for too much information? Is it difficult for users to find what they may be looking for?
- Consider remarketing to previous users. Think about all the times you landed on a site (that was useful for you) and forgot about it or never returned. This could hold true for your audience as well.
- Try not to focus too much on the small stuff (font, line spacing, etc). Focus on the bigger changes that will help move the needle.
- A/B test always to determine what is working and what is holding you back.
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