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Is Your Website’s Conversion Rate Healthy?
When using Google Analytics, it’s essential to understand the KPIs you’re tracking, and what a reasonable goal is to aim for. Last month, our blog broke down bounce rates and the statistics meant for web-based companies. This month, we’ll cover the flip side – web conversion rates and tips to improve yours.
Conversion rates can be tricky if you’re trying to track your own progress. These rates vary by industry and type and can be challenging to compare across months or years. Conversions themselves can also be deemed a macro (transaction) or micro (goal) conversion depending on the action completed, creating yet another layer of comprehension within this KPI.
According to Google, “In Analytics, a conversion is the completion of an activity that is important to the success of your business, such as a completed sign up for your email newsletter (a Goal conversion) or a purchase (a Transaction, sometimes called an Ecommerce conversion).”
What is a Good Conversion Rate?
Keep in mind when measuring conversion that many factors weigh in. Industry type will play a significant role. While businesses that are B2B will fare better, e-commerce companies will have lower rates as people shop and fill their carts without actually checking out. This table is a rough guide to what you should aim for.
1-2% – On the low end with a lot of room for improvement.
2-4% – Average. This is a common range for those just starting to optimise.
4-8% – Doing great. In this range, you’re converting well.
8-11% – The upper echelon, usually only the top 10% of companies.
12+% – Very high. This warrants further investigation into web traffic.
So, what can you do to increase your percentage? Here are our top tips to improve your Conversion Rate Optimisation (CRO).
How Do I Increase My Conversion Rate?
- A/B Testing
You should already be doing this, but if you’re not, then now is a great time to start. You should be testing different variations of your site in order to improve the customer experience. This is especially true for the wording you use in your headers as well as your CTA or button links.
For instance, changing your CTA from “Try our product now” to “Get your free sample” could have a drastic impact on your conversion rate. If your CTA still isn’t working, consider the fact that it might not be the wording but your actual offer that isn’t appealing to your customers.
- Landing Pages
Using landing pages is a great SEO and CRO tactic. These pages will funnel potential customers to a personalised page on your site depending on how they found you. These pages can be altered depending on whether they click through from a Google Ad or a varying list of keywords.
By speaking directly to what they’re searching for and shortening the time they need to spend clicking through your site, you’re increasing your chance of a conversion. Make these pages laser-focused on what your searchers are looking for as these pages can be the best tool in your arsenal for improving CRO.
- Your Site
A well designed, easy to use the site will be a critical part of the conversion game. We know that you only have seconds to convince a potential customer to stay on your site. The colours, photos, designs, font and especially loading speed, will directly impact their impression of your company. Make that first impression a good one.
Sometimes conversion rates are a numbers game. If you think about it, having four visitors to your site and converting two of them leaves you with a 50% conversion rate. While you’ve achieved a high rate, you’re still not achieving a successful business outcome.
If you have two thousand conversions but an highly unproportionate number of site visitors due to targeting unqualified leads, you’re converting well, but your conversion rate will appear to be low.
This is one reason why the conversion rate statistic shouldn’t be thought of in such rigid parameters as it’s easy to throw it out of whack. Ultimately, you should be trying to bring in qualified leads and not just focusing on converting those that will end their customer journey soon after they complete the desired action.
Just like bounce rate, you shouldn’t centre your whole web strategy around this KPI. Take this number with a grain of salt and compare it to others in your industry, not just the top 10% of companies on the web. If you need help, consult a professional to get your conversion rate on track.
Zib Digital is a leading specialist in SEO and digital marketing work. We’ve helped hundreds of companies create optimised landing pages to help cultivate qualified leads. Get in touch to learn what we can do to enhance your digital presence.