08 Jun How do you find your conversion rate?
A conversion rate is the percentage of users who visit a website and, ultimately, buy something or take an action such as filling out a form for more information or downloading an ebook. Finding out your conversion rate is an easy and beneficial way to monitor how well your website is doing. If you implement paid advertising strategies on Google or Facebook, it’s important to understand what converts to leads. A conversion rate is a great tool for that.
Why should I calculate it?
A conversion rate will give you more insight on how many people interact with it. This will help you better understand your customer and eventually, gain more leads and sales. A conversion rate will track events or thresholds on your website and measure your bottom line.
What types of conversion rates are there?
Sales are a great way to measure your conversion rate and how successful your company is doing, but there are other ways to measure these rates. If you are a lawyer, you may look at the number of people who fill out a form, call you, or partake in a chat interaction. If you are planning an event, you might measure how people register on your website.
To figure out your conversion rate, first determine whether you are looking to measure sales or leads. You will also need to have a website analytics program in place to track activity.
For leads: Divide the number of leads by the total traffic to the site and multiply by 100.
For sales: Divide the number of sales by the number of visitors and multiply by 100.
Your conversion rate is paramount for companies looking to improve their business through their web presence. Understanding not only how to calculate your rate, but how to use it to your benefit, will aide in your company’s overall success.