Conversion rates tell marketers whether or not a company is meeting its overall goals. If a conversion rate is lower than intended, that means that there are aspects of a company's website that needs to be improved – an issue needs to be resolved, a page needs to be easy to navigate or new aspects of the website (such as sign up buttons) need to be introduced to convince consumers to complete an action.
To take a step back, conversion rates tell you how many times a user completed an action, whether that be a sign up for your email newsletter or purchase of a product or service (Google, n.d.). Google (n.d.) classifies conversions to be micro (the smaller, lower stake actions such as email sign up) or macro (the larger actions such as a product purchase). Other examples of conversions include submitting a form, engaging in online chat and downloading something from your website (Andrus, 2020). Conversion rates vary across industries and within their own brand – it's important for marketers to research the average conversion rates per topic area within your industry, but to also set goals realistic for your company.
If conversion rates are lower than you'd like, Storm (2019) outlines two common barriers companies run into:
- Your landing page design makes it too difficult for users to navigate and purchase;
- Your website doesn't show the value of the product or service to your consumers.
In addition, using call-to-action buttons on the sites you send your consumers will show users the steps they need to take and prompt them to finish the action. Storm (2019) recommends using details CTAs such as "Download your free guide here," so your audience will know exactly what will happen when clicking the button.
"A good CTA will increase engagement on your page and improve your website conversion rate," Storm (2019) writes.
There are many reasons someone may not be converting on your website – it can be time-consuming, your website may not work properly, options may be unclear, etc. However, it's critical for marketers to remove those barriers to conversion. This will not only increase consumers' experience but also help your company meet its goals and be able to further grow the brand.
References
Andrus, A. (2020, April 15). Please Enable Cookies. Retrieved October 19, 2020, from
https://www.disruptiveadvertising.com/conversion-rate-optimization/conversion-rate/
Google Analytics. (n.d.). Conversion - Analytics Help. Retrieved October 19, 2020, from
https://support.google.com/analytics/answer/6086209?hl=en
Storm, M. (2019, September 9). Conversion Rate Marketing: What Is It and How to Improve It. Retrieved
October 19, 2020, from https://www.webfx.com/blog/marketing/conversion-rate-marketing/
Kristen I thought your post was very resourceful for companies and businesses to gain insights about their potential issues they might encounter. Tracking engagement is a tricky game to keep audiences interested. I liked how you provided the two common barriers that could result in low engagement rates. Great post!
ReplyDeleteHi Kristen! I enjoyed reading your post and learned so much. Conversion rates seem to be one of the most important metrics because it allows a business owner to see what and where exactly they should improve on their website. CTA's are VERY important in this process because they can allow users to follow along easier or grab their attention which will allow them to engage.
ReplyDeleteDedicated landing pages often best when the consumer is at the “ready to buy” stage of the process. That said, ideally, you need landing pages for all aspects of the customer journey, as information -even general information – is often a positive. Consumers will remember brands that provide information that is helpful to making the decision.
ReplyDelete