Conversion Rate
What is conversion rate?
Conversion rate (CR) is the percentage of users who have completed a specific action, regardless of whether it is a purchase, viewing a video, completing a download, filling out a form, booking a reservation, etc.
1. How to calculate the conversion rate?
Calculating the conversion rate is not complicated: you simply divide the number of goals (desired actions carried out by users) by the number of unique users who, for example, have visited the website or opened an email, if you are measuring an email marketing campaign. After that, multiply that figure by 100 and you will get the conversion rate.
The following formula allows you to get the conversion rate:
(Objetivos logrados / Visitas totales) x 100 = % Conversión
2. Improve conversion rate
There are many tools for improving the conversion rate, which fit our digital marketing plan or email marketing campaigns to a greater or lesser extent. They include:
– Alliances and co-branding. Generate alliances and partnerships with other brands that are beneficial to you, as this will allow you to reach a wider audience, improve your branding and therefore the conversions generated
– Improve your brand image. If you are known and respected, visitors will be more receptive to any proposal you suggest, so work to boost your branding strategy and improve your conversion rate.
– Landing pages. Without any doubt, using a properly planned landing page is one of the elements that contributes most to a higher conversion rate.
– Payment and shipping costs. Whenever possible, offer multiple payment and shipping options (clearly indicating shipping costs). They are two barriers to purchase, and being transparent here helps the conversion rate and reduces abandoned carts.
– Very clear and visible return policy. Ecommerce stores can improve their conversion rate by letting buyers know at all times what return and withdrawal options they are offered.
– Social media, content marketing. Your social media is also a way to strengthen your relationship with your audience, as is creating valuable content and sharing it. Make sure your content marketing strategy is relevant to your customers.
– Simplify your forms. In any type of form, you should only ask for the data that is strictly necessary for your goal, because if you ask for too much data, you are likely to lose many conversions. In this case, less is more.
– Testimonials and success stories. In general, the social approval and positive opinions that we can show on our website, will contribute to build trust and thus improve conversions / sales.
– Proper use of discount coupons and offers. Using discount coupons and offers helps to convert visitors into customers, but don’t abuse them and work with very clear KPIs.
– Use email marketing. Email marketing is an excellent communication channel that brings you closer to your customers comfortably and is a great ally for converting. Don’t neglect your mass mailing campaigns: work on them in a timely manner.
– Website loading speed Users require immediacy, if your site takes too long to load, many people will not wait for it to do so, so make sure your website will load as fast as possible.
– Cross-selling and up-selling. Cross-selling and up-selling help you to improve sales and to sell higher priced products, which will boost your conversion rate.