What is Conversion Rate

What is Conversion Rate?

Conversion rate can be defined as the percentage of visitors who take the desired action that you want them to take. In other words, it can be understood as the ratio of the number of conversions and the total number of visitors on your website. For example, if your website manages to get 200 visitors in a month and generates 50 sales, then the conversion rate of your website will be the ratio of 50 and 200, i.e. 25%.  A conversion refers to any desired action that you want the visitor to take on your website. The desired action can be anything from clicking a button to making a purchase. There can be multiple conversion goals for a website, and each goal has its conversion rate.    

What is the importance of Conversion Rate?

A conversion rate helps us to monitor the performance of a website. Tracking the number of visitors taking the desired action and increasing your sales can help you measure the success of your website and identify the scope of improvement. Improving the conversion rate can increase the number of sales with an equal amount of traffic. Suppose you are spending $500 per month on the advertisement to drive 1000 visitors to your website, increasing the conversion rate can reduce your advertisement expenses. You will receive the same benefits as before plus you can use the saved money for some other ad programs.  

How to Improve your Conversion Rate?

One has to focus on Conversion Rate Optimization (CRO) to improve the conversion rate. Conversion Rate Optimization can be understood as identifying the conversion goals, analyzing the conversion rate, and optimizing your website to increase the number of sales. The first step of CRO involves formulating theories and generating ideas to increase conversions. In the next step, through A/B Testing, two different versions of the same page are displayed to the audience to check which version drives more traffic and performs better. To increase the performance of your website stick to the following points: – 

  • Identify new conversion goals
  • Identify the areas that have a scope of improvement
  • Continually test the new features

By following the above- mentioned points you can surely improve the conversion rate and performance of your website.

Conversion Rate Optimization

A company can enhance its conversion rate and notice a remarkable impact on their business through conversion rate optimization. Following is a case study and marketing data published by a web analytics organization ComScore. In this case study, it is evident that Conversion Rate Optimization is essential to increase the conversion rate of any company. 

A small company started by fixing a conversion goal from their page and calculated the conversion rate. Then the company generated new ideas based on different experiments to enhance their page’s conversion rate. They came up with a theory that including testimonials on the webpage can establish trust among the visitors and drive more conversions. Later through A/B testing, they displayed two different versions of their webpage to the audience that included testimonials and logos of the organization. From the output of the experiment, they observed that the page with logos and testimonials performed 70% better than the original page of the company. This is the best example that shows the importance of conversion rate optimization in increasing the conversion rate of a website.

Enhance your conversion rate with Ebuzzon

Ebuzzon is one of the trustworthy and leading platforms for conversion rate optimization and A/B testing. With Ebuzzon, performing experiments is as simple as clicking a button and Ebuzzon will display two different versions of your website to the visitors. Our advance statistical engine displays the report when the test reaches a statistical significance. With this report, you can track the performance of the newly implemented changes and conclude that the change is performing worse or better than the original.