Did you know that only 3% of consumers convert on the first visit to an online store? The good news is that there are strategies you can use to improve this figure, and increase the conversion rate of your website.
In this blog post, we will share some tips that will help you better analyze this metric, and increase the number of users that interact with your company. Let’s begin!
How can you calculate the conversion rate of your website?
To calculate the conversion rate of a landing page, you must divide the number of conversions by the total number of interactions that an ad or campaign had during the same period of time. Let’s say you have 50 conversions and 1000 interactions. In this case, the conversion rate would be is 5 percent.
This formula can be used if you need to know the conversion rate of one website. However, if you’re working with multiple strategies, you’ll have to measure the performance individually, and then analyze the data as a whole.
For example, if in addition to increasing your sales, your goal is to get more leads, you should also calculate these metrics:
- Total Conversion: It’s calculated by dividing the unique visitors by the number of visitors with any conversion.
- Subscriber Conversion: It’s calculated by dividing the unique visitors by the number of new subscribers.
- Customer Conversion: It’s calculated by dividing the unique visitors by the number of new customers.
For marketers, it is vital to know all these metrics. This will allow them to know if they are sending the right audience to your website, and adjust the strategy to achieve better results.
What is a good conversion rate for a website?
For a website to be considered efficient, it must have a conversion rate of between 2 and 5 percent. However, these numbers may vary depending on the industry or type of business.
Below, you will find the ideal conversion rate for each industry:
This data shows how conversion rates can vary for different types of e-commerce. For example, an online store that offers gifts may have a higher rate than one that sells sporting goods. Similarly, if a store offers multiple products, the conversion rate may change depending on the department.
Tips to improve conversion rate
Now that you know how to calculate and analyze the conversion rate, I’m going to give you some tips that will help you increase your website conversions.
1. Review and make a personalized offer
Providing personalized service is the new way to build customer loyalty. Therefore, you must collect information about your customers’ preferences to offer them a quality service.
By obtaining this information, you will be able to better segment your audience and create strategies to capture their attention. All of this will help you improve your customer’s experience and increase the number of conversions of your business.
2. Avoid abandoned carts
Abandoned carts are a problem that affects many online stores nowadays. This scenario occurs when a customer selects several products and abandons your website before finalizing the purchase.
You can prevent this problem by identifying the factors that influence consumers’ decision-making. Here are some of them:
- Hidden prices.
- Customers don’t have an account in your store.
- Clients don’t know how to make a purchase.
- The total price is not visible.
- Customers don’t trust your website.
- Website crashes or errors.
- Slow delivery.
- The store doesn’t accept returns.
- Not enough payment options.
Small changes, such as adding an SSL certificate or changing the text size, can make a difference in the customer’s journey. Just remember to monitor these details and make adjustments to optimize your website content.
3. Use remarketing to increase your sales
Recent studies show that it takes business about 7 attempts to make a conversion. This is where remarketing comes into play. This strategy consists of marketing your products or services to people who have already interacted with your company.
The interesting thing about this technique is that about 25 percent of users enjoy seeing these products again. In addition, customers who see these ads are 43 percent more likely to make a purchase again.
Therefore, it’s no surprise that remarketing ads offer better conversion rates. However, keep in mind that this tactic is usually more expensive. Thus we recommend applying it only to attract customers who have lost interest in your company.
4. Test your sales strategy
Finding out what works for your customers can be a challenge. Fortunately, several tools can help you obtain this information, among which we have the A/B Tests. With this tactic, you can know exactly which elements give the best results on your website.
When implementing this strategy, remember that each element is important, and it may take some time to see the changes.
If for some reason, you notice a decrease in your conversion rate, you should quickly discard the changes and implement the previous strategy again.
5. Improve your customer service
If there is one thing that characterizes companies with a high conversion rate, it’s that they all have excellent customer service. One way to achieve this is by creating a self-service portal or a FAQ section.
You can also create a knowledge base or include a chat so users can better manage their requests. By applying all these strategies together, you can improve your profits by 48 percent and increase your conversion rate by up to 40 percent.
6. Implement new marketing tools
To significantly increase your conversion rate, you must complement your marketing strategy with a CRM software. That’s why we invite you to try Freshsales, with this sales-focused system you will be able to:
- Improve communication with your audience.
- Track the customer journey from end to end.
- Automatically update your customer data.
- Create reports to monitor your sales.
- And much more.
At GB Advisors, we help you integrate this and other technological solutions to automate your processes and increase your company’s profits. We offer you personalized attention with the installation and configuration of any software.
You will also receive advice from our group of experts, who will guide you step by step so that these tools work correctly and help you achieve your goals.
Contact us today and receive a free consultation.