What is Conversion Rate?
Conversion Rate is the rate at which visitors complete desired conversion actions, such as fill out a form or buy a product from your website. This conversion action may differ from one website to another but the number of conversion actions per session can be used to determine conversion rates. In ecommerce specifically, conversion rates refer to the percentage (%) of site visitors who have completed online purchases.
How to Calculate Conversion Rate?
To calculate the conversion rate for your website, simply divide the total number of orders by the total number of sessions.
What is a Good Conversion Rate?
A conversion rate of 2% is considered to be a good conversion rate with the average range being about 1% to 4% depending on the industry.
How to Improve Conversion Rates?
There are many ways to improve conversion rates for your eCommerce website and they range from simple changes, such as improving your copy and customer service skills to more advanced optimization like SEO.
Here are a few ideas to consider:
Website Design/Page Layout
A good website design should make it easy for customers to find what they’re looking for on the site, while also creating an enjoyable user experience.
If your website has a large product inventory or many different pages, it’s extremely important to optimize the navigation of your website. From a clear menu to category and subcategory structure, your website should provide a clear hierarchy so both users and search engines can crawl your website.
This one might seem basic, but providing contact information for your company and customer service is a way to gain rapport and trust from a potential buyer. This can be done in the form of an email address, phone number, or live chat feature on your website.
It’s also important to provide payment options for customers. Whether they choose Paypal or Credit Card, providing multiple ways for them to pay increases conversion rates because it’s convenient and easy to use for customers.
Search engine optimization can help your website target more relevant buyers by indexing your website for relevant keywords. The goal of SEO is to increase the website’s search engine visibility, increase organic traffic, and increase organic conversions. By targeting specific keywords that are low competition and high in search volume, SEO can help increase your website’s traffic and also bring in more qualified traffic.
To Sum It All Up
A conversion rate is the number of people who complete the desired action compared to those who visit your site. While conversion rates are generally good indicators of how effective your marketing tactics are, it’s important to remember that conversion rates vary widely from industry to industry and business model to business model. To boost conversion rates you need a solid understanding of where you’re weak and what can be done to improve.
A great way to understand your customers is to utilize tools like HotJar to view heatmaps and record users.
For help identifying how your website can improve its conversion rates, or to speak to our team about your website, fill out a free consultation form!