Our hearts race, and as we swallow our words, we wish the moment was over.
What if instead of dreading this day, you were excited for it?
No, it's not a far-fetched dream; you can do it!
Higher conversions>>Higher sales>>Higher revenue>> Higher customer acquisition and retention
This is the dream of every brand, and through this article, we will take philippines number on a journey that will help you turn that dream into reality.
Ready to get started?
Let's dive right in!
What is conversion rate and why is it important?
First things first: to drive higher conversions, you need to know what it really means and why it's so essential to your business.
Conversion rate is the percentage of users who completed the desired action. It can be one or several, from a website or ad click to an email response or a product purchase.
Conversion goals vary depending on a company's business goals and objectives, which may or may not change over time.
Conversion rate can be calculated by dividing the total number of conversions by the total number of visitors or audience size.
For example: If Brand X targeted 15,000 people with a Facebook ad, of which 500 people clicked on it, the conversion rate would be 3%.
500/15000= 0.03 or 3%
Why is it important?
Conversion rate is an important metric to analyze the effectiveness of your marketing plan , it conveys:
How well your website, app or ads are performing
Where do you get the most conversions from?
Which marketing medium and channel should you focus on the most?
How well are people giving in to your call to action (CTA)
How can you improve your conversion rates?
By analyzing and studying your conversion rates well, you will be able to come up with a strategy and ways to improve it to obtain better results.
Across all industries, the average landing page conversion rate was 2.35%, but the top 25% converted at 5.31% or higher.
Source: Smart Insights
Source: Smart Ideas
So, you need to hack and analyze your marketing efforts to achieve a high conversion rate for your business,
As?
Let's get into it.
How can you track conversion rates?
There are various ways and tools through which you can track your conversion rates. Let’s understand which ones are the best:
1. Heatmaps
Heatmaps are a visual representation of user behavior and actions on your website, displayed through graphs. It shows where and how your users spend their time and how you can improve it.