What is Conversion Rate ?
A metric that shows how many times an affiliate link has registered a conversion compared to the number of times the banner/link has been viewed. With a high conversion rate, you know that your marketing approach and web design are working because many people desire what you have to offer and can easily obtain it from you, too. A high conversion rate might mean the difference between success and failure in many industries and business models.
There are many different types of conversions, but the most popular ones are: signing up for a newsletter, making a purchase, completing a form, using your live chat, or contacting your company. For every additional 1000 impressions, the CR increases. It is dependent on several variables, including the quality of the campaign, user interest in the product, technical campaign availability, and so on. It can also, for example, be influenced by the website on which it is presented.
Google Analytics is a popular tool for tracking the online activities of visitors to a website. This provides the site owner with useful information on the behavior of visitors, and Google Analytics keeps track of how long visitors spend on the site and what they do while they’re there. These actions may be anything from a simple button press to filling out a form or purchasing. Google Analytics will automatically calculate the conversion rate once the site owner has specified what constitutes a conversion (or a goal in Analytics parlance).
For a site owner, increasing their conversion rate equals more revenue or leads. This is plainly in their best interest. To do this, the site’s owner must make it as simple as possible for visitors to use the site and understand their needs. Bounce rate is a metric used by Google Analytics to track how quickly visitors depart a page after arriving. This could mean that the site owner is attracting visitors who aren’t interested or that the site’s traffic is coming from the wrong source. More users engaging with the site and spending time there without converting can suggest that the site is difficult to use or that the call to action is not easily accessible.
Every industry is different when it comes to conversion rates, so there’s no way to predict what would work for another. To find out why visitors aren’t converting, track and analyze their behavior. If a site owner sees an increase in their conversion rate or returns on investment after running a split test, they can rework those portions of the site.