Understanding Your Conversion Rate
When you are going over your analytics for your website, one thing to look at is your conversion rate. Not everyone knows what a conversion rate is and what it will tell you about your website. Let’s look more closely at conversion rates and how they impact your website.
What is a conversion rate?
Conversion rates are a way to measure how many people have done a desired action on your website. This could be signing up for a newsletter, making a purchase, clicking a link, or any other goals for your website. Conversion rates are not just for website. They are valuable information for ads as well.
Why are they so important?
Let’s say you want to run some ads and you are selling the same product in each ad but they are marketed differently (Yes, I am talking about split testing). Monitoring the conversion rates on each ad will tell you which one is more successful. This way you can see what marketing strategy is reaching people and causing them to buy and which needs work. Knowing your conversion rate on your marketing and your ads can help you focus on the best tactics to get people to become customers.
How do I find out what my conversion rates are?
Google Analytics can provide you with your conversion rate based on the goals for your website. Make sure to list each goal separately and look at the conversion rate for each goal. This way you can see which goal prompts more people to act.
Conversion rates are crucial to any marketing plan as it guides you in what is reaching people and what people are responding to. This way you can make any adjustments to your ad or website and get more people to become customers. Next week we are going to discuss website security and why you really need it.