{"id":27953,"date":"2021-05-27T11:51:34","date_gmt":"2021-05-27T08:51:34","guid":{"rendered":"https:\/\/www.reliablesoft.net\/?p=27953"},"modified":"2022-01-17T12:02:44","modified_gmt":"2022-01-17T10:02:44","slug":"conversion-rate-marketing","status":"publish","type":"post","link":"https:\/\/www.reliablesoft.net\/conversion-rate-marketing\/","title":{"rendered":"What is Conversion Rate Marketing? (Complete Guide For Beginners)"},"content":{"rendered":"

No matter what industry you\u2019re in, the success of your business depends on your ability to turn online visitors into customers.<\/p>\n

Conversion marketing provides a way to increase the rate at which visitors become buyers.<\/p>\n

In this guide, I will give you a complete breakdown of what conversion rate marketing is, how it works, and how you can use it to your advantage.<\/p>\n

What is conversion rate marketing?<\/h2>\n

Conversion rate marketing is a marketing strategy designed to maximize your conversion rate.<\/p>\n

It is usually referred to as conversion rate optmization.<\/p>\n

What is a conversion?<\/strong><\/p>\n

A conversion is an event where someone takes a desired action beneficial to your business. This could be a sale, an email sign-up, an add-to-cart, or any other objective you select.<\/p>\n

What is conversion rate?<\/strong><\/p>\n

Conversion rate is a metric that measures the percentage of people that result in conversions.<\/p>\n

How do you calculate conversion rate in marketing?<\/strong><\/p>\n

You can find your conversion rate with the following formula:<\/p>\n

(Number of conversions \/ Total number of visitors) x 100<\/p>\n

For example, if you get 1000 website visits and 50 of them buy a product from your store, then your conversion rate is (50 \/ 1000) X 100 = 5%.<\/p>\n

Why is conversion rate important in digital marketing?<\/h2>\n

Conversion rate is an essential part of digital marketing<\/strong><\/a> because it determines the value of your online traffic.<\/p>\n

You can increase your total revenue without raising your prices or driving more visitors to your site simply by having a higher conversion rate.<\/p>\n

Let\u2019s compare two scenarios:<\/p>\n

Scenario 1<\/strong> – You bring 1,000 people to your site, convert 1% into sales (10 sales), with an average sale price of $100. This results in $1,000 in revenue.<\/p>\n

Scenario 2<\/strong> – You bring the same number of people to your site (1,000) but convert 2% into sales (20 sales). With the same average sales price, you\u2019ve generated $2,000 in revenue.<\/p>\n

As you can see, marketers looking to maximize their results should focus on improving their conversion rate.<\/div>\n

What is a good conversion rate?<\/h2>\n

A good conversion rate is anything above 2%. The actual percentage varies drastically depending on your industry.<\/p>\n

If you sell commodity-type e-commerce products you can expect to convert more of your visitors than software as a service (SaaS) company selling high-ticket software that requires more consideration.<\/p>\n

According to the Conversion Benchmark Report<\/strong><\/a> from Unbounce, these are the average conversion rates for key industries:<\/p>\n

Average Conversion Rates Per Industry<\/h3>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Industry<\/strong><\/td>\nConversion Rate (%)<\/strong><\/td>\n<\/tr>\n
Agencies<\/td>\n2.4<\/td>\n<\/tr>\n
Real Estate<\/td>\n2.6<\/td>\n<\/tr>\n
SaaS<\/td>\n3<\/td>\n<\/tr>\n
Family Support<\/td>\n3.4<\/td>\n<\/tr>\n
Business Services<\/td>\n3.5<\/td>\n<\/tr>\n
Medical Services<\/td>\n3.6<\/td>\n<\/tr>\n
Home Improvement<\/td>\n3.7<\/td>\n<\/tr>\n
Travel<\/td>\n3.8<\/td>\n<\/tr>\n
Events & Leisure<\/td>\n4.8<\/td>\n<\/tr>\n
Ecommerce<\/td>\n5.2<\/td>\n<\/tr>\n
Legal<\/td>\n5.4<\/td>\n<\/tr>\n
Fitness & Nutrition<\/td>\n5.6<\/td>\n<\/tr>\n
Education<\/td>\n5.8<\/td>\n<\/tr>\n
Finance & Insurance<\/td>\n6.2<\/td>\n<\/tr>\n
Media & Entertainment<\/td>\n7.9<\/td>\n<\/tr>\n
Catering & Restaurants<\/td>\n9.8<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Here is also a graph showing the average conversion rate per industry.<\/p>\n

\"Average
Average Conversion Rates Per Industry.<\/figcaption><\/figure>\n

How to improve a low conversion rate<\/h2>\n
    \n
  1. Find out where the problem is<\/a><\/li>\n
  2. Analyze user behavior with heatmaps and session playbacks<\/a><\/li>\n
  3. Create dedicated landing pages for paid campaigns<\/a><\/li>\n
  4. Carry out controlled A\/B tests<\/a><\/li>\n
  5. Revise your CTA<\/a><\/li>\n
  6. Add limited-time offers and one-time discounts<\/a><\/li>\n
  7. Win the social proof game<\/a><\/li>\n
  8. Use remarketing to get more conversions at a lower cost<\/a><\/li>\n
  9. Revise your paid campaigns<\/a><\/li>\n<\/ol>\n

    1. Find out where the problem is<\/h3>\n

    The first step to improving a low conversion rate is to find the problem areas that are causing visitors to leave without taking the desired action.<\/p>\n

    Once you find what is negatively impacting your conversions, you can make the necessary changes to improve your results.<\/p>\n

    Start by analyzing the behavior of your website visitors. You can see how people are behaving on your site by looking at the data within Google Analytics.<\/p>\n

    You can use the Behavior report to get an overview of your most popular pages:<\/p>\n

    By clicking on a page, you can see:<\/p>\n