What is Conversion rate and its Importance in Digital Marketing 2020?

Conversion rate is the ratio between the number of visitors and number of sales. Research has shown conversion rates average about 2%. Which translates to converting 2 visitors out of 100. These are for websites that aggressively market themselves. There are plenty of companies who have conversion rates of 0.1% – 0.2%. Businesses invest heavily on ways to improve their conversion rates which typically translates to greater return on investment.

Let us list down a few tips on how to improve conversion rates

  1. Focus on your call to action: Digital marketing has a term called as Call to Action “CTA”. This usually is an action button created to register or a button that redirects you to an action page. In one experiment, Optimizely was able to increase their conversion rates by 27% when they changed button text from “Get Started” or “Test it Out”. Action words perform much better than non-action words.
  2. UI/UX Design: Design plays an integral part to improve conversion rates. Websites are your digital retail store. It has to be optimized for maximum efficiency. Landing pages provide enough information to motivate users to convert and gently guide them. A page with minimal content with great design and proper CTA’s with action words can help you get higher conversions rather than having a cluttered page with too much information.
  3. Test the visitors: Organic traffic visitors spend more time online on your website. It has lower bounce rates than visitors that come from paid campaigns. Analyse the visitors and cater to them.
  4. Iterate: Iterate, Iterate and Iterate. Keep testing and exploring. Road to a good conversion rate is filled with potholes derived from your tests. These potholes help you pave the way to a seamless experience increasing conversion rates.
  5. Add a pop-up: Average conversion rates for all pop ups are about 3.09%. However, if we do it right, we can reach our conversion rates to an average of 9.28%. This was as per study conducted by Sumo. Try different types of offers until finding a winner. A 30 second delay timer on the pop-up tools allow you to do this.
  6.  Add Testimonials, reviews & Logos: People believe the reviews of other customers. Their review comes as a reflection of your product/services. Add relevant testimonials, reviews & logos of the business to enable the customer to understand.

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