To a new business, servicing and addressing your customer base is everything. But getting your website in front of those people takes hard work and the thought of mastering the art of SEO (Search Engine Optimisation) and other online marketing techniques can seem daunting.
Every visitor to your site is precious and its vital you don’t let them get away without maximising their time there. To do that, you need to focus on improving conversion. So what is a conversion rate, and how might you make it healthier?
What is a website’s conversion rate?
On the face of it the explanation of conversion rate is simple, say four people visit your site and buy something out of 100 visitors, your conversion rate would be 4/100 = 4%. From here on out though, with a varied product range, things get a little more complicated. If you have a site with multiple pages with various products you need to know the conversion rate for each page in addition to your site collectively.
Each day can be very different in terms of conversion. If your visitor rate is small, like in the example above, the stats would show a huge upturn in conversion. So by studying conversions over a period of time you will gain a greater insight into the behaviour of your audience. If your site generates leads, these also count as conversions or “sales”.
So it makes sense to track your conversion rate over the course of different time periods, ensuring you get a fuller picture.
Conversion is not just for eCommerce sites
Don’t forget – your website will still have a conversion rate even if you’re not using it to sell a product directly. If you’re using it as a way to generate leads, then for the purposes of calculating your website’s conversion rate, you can count the number of leads generated as a “sale”.
Why should conversion rates matter to my business?
You’re probably already starting to get the feeling that conversion rates are a vital metric to keep track of, and you’re right. In case you’re unsure, here are some of the reasons why ‘knowing your numbers’ is so important.
- Conversion rates can be one of your most honest friends in business, as they are a barometer of that all important bottom line. They are one of the most important metrics you can collect. Without knowing your conversion rate, how can you improve?
- By understanding the nuance of your customer behaviours you can hone your site to increase revenue and your profit. A large audience with a low conversion rate tells you there’s something clearly ailing with your site that needs attention. It could be a user experience (UX) issue.
- If you’re Google Adwords, or other pay per click campaign, has low conversions, but the site’s overall conversion rate is good, it’s time to look at how these PPC campaigns are run. You could be chasing the wrong keywords!
- Knowing your conversion rates is the secret to the evolution of a website; you can gauge whether a change on your site results positively or negatively from prior figures.
Getting started with conversion tracking
You’ll need some form of analytics package on your site. Google Analytics (GA) is not only free but an informed choice providing a huge amount of data to crunch. It can be quite technical so if you need some help implementing, let us know.
Once installed you’ll get feedback about your website immediately, however relevance and the ability to process your Google Analytics (GA) effectively takes time as data will have to build for around a month. Months soon build into years, though, and all this accumulated data will provide compelling insights on how to keep improving your site.
Once measured there’s no going back
Once you’ve measured your conversion your next nagging thought will be how might it improve? There are a multitude of solutions. By simply rewriting content, or even seemingly subliminal changes like altering the colour of a call to action button or price point can have a positive result. The ethos, is test, test, test and you will learn to make a long term difference to your conversions and that bottom line!