The ultimate goal of the online marketing campaign is to increase the company’s conversion rate. It refers to the number of people who decided to visit the page and end up purchasing the products and services. If the conversion rate is higher, it leads to more profits. Therefore, businesses should also focus on conversion rate optimization. It’s not enough for people to see the website and explore the content. It’s the first step, but it’s not the ultimate goal. It doesn’t make sense if they decided to explore the page but decided against buying anything.
The typical conversions for e-commerce websites include the online sale, number of people adding products to the card, number of users adding an item to the wish list, sign up for emails, and social media shares. It’s not only about selling products and services. When the potential customers are taking a step closer to the purchase, it’s good enough. What exactly defines a good conversion rate for an eCommerce business? It’s a metric worth looking into.
Some business owners might expect the conversion rate to be too high. The truth is that on average, a 2% conversion rate is already good enough. It might look small, but it means a lot. For instance, if there were 5,000 visitors, and there were 50 conversions, it’s already a 2% rate. Imagine having 50 people deciding to buy the products and services. It already means a lot to the business. Of course, it also depends on the time it took for the business to reach 50 conversions. It also depends on which specific action later. If all 50 decided to spend money to buy the products and services, a 2% conversion rate is already a huge deal. Computing for the conversion rate is simple. It counts the number of conversions and divides it with the total visitors.
Tracking conversions
It’s important to track conversions since businesses need to determine what other online marketing strategies to use. Perhaps, if there’s a problem with the conversion rate, the business isn’t doing enough to attract attention. Some people decided to visit the page, but they left because they found nothing interesting. It’s also possible that they didn’t like the website. Apart from loading speed, there might also be an issue with the tab organization.
After tracking the conversion rate, the next step is to identify the issues with the website. There might be a need to change some elements and replace them with something more interesting. The loading speed on mobile devices is also crucial. Since most people use their phones to conduct different transactions online, a slow loading speed on phones can result in a lower conversion rate.
Reduce the bounce rate
Increasing the conversion rate might be challenging. It’s not easy for people to spend their money. They have to think twice before they decide to buy anything. The company should at least reduce the balance rate. It refers to the number of people who decided to leave the page after opening it. The users should at least stay for a few minutes to explore the content. They need a reason to stay. If the bounce rate goes lower, it’s an excellent sign. The users decided against buying for now, but they might do it in the future. They might want to look for more information before becoming customers. Once they already found what they’re looking for, they won’t hesitate to buy the products and services.
Offer something attractive
If the company is still far from the target of a 2% conversion rate, there should be something attractive to offer to the potential customers. Discounts and promotions are among them. Offering free shipping options will also be enticing. They need a reason to choose the business over other choices. They know that if they want products and services, there are different brands available. They will patronize the choice that will help them reduce their spending. Offering a more competitive price without sacrificing the product quality is also a strategy. Some people understand that promotions aren’t always available, but they won’t hesitate to buy if the prices are competitive enough.
Asking for help regarding conversion rate optimization
Conversion rate optimization takes time. It’s not easy to tell people to spend their money on the products offered by the company. Given how challenging the economy is, they will have second thoughts before pursuing a transaction. If the website doesn’t offer anything attractive, it won’t increase the conversion rate. The good thing is that there are experts who know how to attract more potential customers. With their help, the company can see drastic changes in no time.
