Online marketing is an exceptional tool that can help you put your business on the map and build an audience. That is IF (and this is a big if) you know what you are doing.
A lot of business owners get excited about the variety of options they have to promote their brand. Most of them, however, are a bit confused about how they should use these methods. So, they base their decisions on guesses and gut feelings.
For digital marketing to work, you need to check and see which actions are bringing results and which are falling flat.
If you’re new to online marketing and have just started using a tracking service like Google Analytics, then you may feel a bit overwhelmed right now and understandably so.
So let’s take it slow and focus on one crucial metric that can help your business grow: the website conversion rate.
What Is a Conversion?
All your marketing efforts are designed with a specific purpose in mind: to get people to do something. That something can be anything from:
- Buying a product;
- Booking a service;
- Signing up for something like a newsletter or webinar;
- Sharing your content on social media, etc.
When a user successfully completes that action you want them to, then you have a conversion. Website conversion refers to the number of people who have acted the way you initially desired.
Conversions are different for every website (and business) because you will likely have different goals. For example, if you have an online store, your conversions would obviously be the number of sales you make.
Let’s imagine that your clothing store branches out, and starts providing online styling classes to try and reach a bigger, more diverse audience.
In this case, your website conversions are the number of people signing up for the class. Then, those conversions can be again converted from a participant to a class to a shopper through another marketing campaign.
In the same business, you could be tracking different types of website conversions if you are running campaigns with different goals. It’s essential to have a clear view of these goals and track each conversion rate to see if your campaigns are effective or not.
How can you actually tell if your efforts are paying off? The conversion rate is the percentage of people who’ve converted, like your success rate in a sense. It’s calculated as:
(Number of conversions / Number of website visitors) x 100
So, if you have 5000 website visitors in a month, of which 200 converted, your website conversion rate would be:
200 / 5000 x 100 = 4%
4% is a good figure, considering that the average website conversion rate is around 2.35%. Ideally, you would want to break into the top 10%. For this to happen, you need to understand your conversion funnel.
What Is a Conversion Funnel?
The website conversion funnel is the process of getting someone to convert. In practice, the process can look different based on the different goals you have, but for the most part, it’s made from these 4 steps:
This refers to the process where you make someone become aware of your business, and what you’re offering.
The next stage is where people who become aware of you become interested in what you have to offer.
This is the stage where you make the potential customer really want the thing you’re offering.
This is the final stage of the funnel, where the potential customer is no longer “potential,” but takes the action you want them to.
This is the basic web conversion funnel, though you may also discover “Re-engaging” as a 5th stage. This is the part where you re-target buying customers to repeat the funnel. It’s a vital step for online shops who depend on recurring buyers, though other businesses can benefit from this extra step in their funnel as well.
How to Track Conversions on Your Website?
There are different things you have to do to track your website conversion rate. For the most part, if you are using Google Analytics (or any other such service), you can set up your Goals and track the specific actions you want on your website.
If you’re also running paid ads, like social media or Google ads, you can track the conversion rate (and the funnel) by installing the tracker on your website. It sounds complicated, but most of these services have a piece of code you just have to copy-paste on your website, and tracking will begin.
You really need to install these trackers to get the full picture. Otherwise, the ads will only gather information up until the moment a user clicks on the ad to go to your landing page, and that’s it.
How to Improve Your Website Conversion Rate
While you won’t get a 100% conversion rate on your campaign, it doesn’t mean there aren’t ways you can’t improve your rate and reach your goals.
The first step is to focus on traffic. The more people you get to your website, the more your website conversions will grow and you’ll get more revenue. It’s simple math, at this point. If you only get 5000 visitors in a month and convert 200 of them, that’s a decent conversion for a smaller website. But if you double your visitors, you have a lot more potential customers that could be converting.
More traffic isn’t always enough, as you have other stages of the funnel to worry about. To take care of them as well, consider:
- Using more compelling CTAs to let people know what you want;
- Improve your targeting;
- Tweak your website and improve its quality (from the navigation to the design if needed.) Make sure it loads fast (less than three seconds) and works seamlessly.
- Improve ad copy and website content, so customers understand your product or services, which can help them decide if they want to convert or not;
- Ask visitors to leave you the feedback to see what their experience is, and what they think you can improve.
Boost Traffic to Your Website
Website conversion is an essential metric, but before you can start convincing more people to take the desired action, you first have to reach them and get them to visit your website. Boosting your traffic should be your number 1 priority at this time. Once you get more people to click on your link, you can begin to employ a better conversion strategy.